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Earlier this year, Bilt Rewards teased that Milestone Rewards were coming to the platform to reward incremental point earning on the way to Bilt elite status. The only specific detail provided was that these rewards would be available for every 25,000 Bilt points you earned. Outside of that, we were left waiting in suspense. But now, we have the full run-down on what Bilt's Milestone Rewards program looks like, and it's now live.
Here's everything you need to know about Bilt Milestone Rewards.
Bilt Releases Milestone Rewards
Finally, Bilt Milestone Rewards are here. Even better, they're pretty straightforward. For every 25,000 Bilt points you earn from paying rent, swiping The Bilt Mastercard®, banking through Rent Day promotions, and elsewhere, you'll unlock a set of Milestone Rewards, and you can claim one.
At each increment, the selection grows. You'll receive more options, though choices are still limited to only one choice at every threshold.
Related: The Complete Guide to Bilt Rewards
Reward options
Here's the roster of choices at every 25,000-point increment:
- 25,000 Bilt points
- 2X points on Bilt Dining for 7 days — up to 1,000 points
- 2X points at gas stations for 30 days — up to 1,000 points*
- 2X points at grocery stores for 30 days — up to 1,000 points*
- 2X points on sports and concert tickets for 30 days — up to 1,000 points*
- 1,000 points for the Bilt Collection
- 50,000 Bilt points
- No new rewards; previous choices are unlocked again
- 75,000 Bilt points
- All of the Milestone Rewards at the prior tier
- 10X points on your next 3 Lyft Rides — on up to $25 in total spending
- 2X points on digital wallet purchases for 7 days — up to 1,000 points*
- 100,000 Bilt points
- All of the Milestone Rewards at the prior tier
- Get 5,000 points closer to the next elite status tier
- Note: These points are not redeemable.
- 125,000 Bilt points
- No new rewards; previous choices are unlocked again
- 150,000 Bilt points
- All of the Milestone Rewards at the prior tier
- $10 towards your next fitness class booked through the Bilt app
- 175,000 Bilt points
- No new rewards; previous choices are unlocked again
- 200,000 Bilt points
- No new rewards; previous choices are unlocked again
- 225,000 Bilt points
- All of the Milestone Rewards at the prior tier
- 7,500 points for the Bilt Collection
- 250,000 Bilt points
- All of the Milestone Rewards at the prior tier
- 4X points at gas stations for 30 days — up to 3,000 points*
- 4X points at grocery stores for 30 days — up to 3,000 points*
*Limited to those with the Bilt Mastercard.
How Do Bilt Milestone Rewards Work?
You can claim your Milestone Rewards in Bilt's mobile app. Navigate to the “Elite Status” menu, then scroll to the “Milestone Rewards” section. To select a reward, simply click “Claim.”
Milestone Rewards don't stack. For example, you can't use two rewards simultaneously to boost your point-earning potential. This goes double for Rent Day. You can't combine a 2X grocery Milestone Rewards multiplier with the inflated 2X rate on non-bonused Rent Day spending with the Bilt Mastercard to earn 4X points per dollar spent. You're limited to 2X points per dollar spent — the best available multiplier. Also, remember that you must make five transactions per billing period with your card to earn these points.
Milestone Rewards expiration policy
Milestone Rewards will expire if they're unclaimed by the end of the year. However, if you claim rewards before the end of the year, they'll carry over into the following year, expiring on a specified date.
Is It Worth Earning Bilt Milestone Rewards?
Value-wise, there's not a lot to write home about with the Milestone Rewards. While any bonus for organic spending is appreciated — as most programs don't offer any perks for incremental spending — it's hard to peg Milestone Rewards as traditional “rewards.”
Most of the options feature a spending multiplier on purchases like gas or groceries. Yes, there's value in earning more points per dollar spent. However, the aspect of this that's hard to digest is that you have to spend a lot of money even to have that chance. Additionally, the spending-based rewards aren't overly rewarding.
The rewards aren't that rewarding
To illustrate an example, let's look at some numbers. On average, AwardWallet users redeem Bilt Rewards points for 2.01¢ apiece. So, let's say you earn 25,000 Bilt points and claim a choice that offers 2X points on gas, grocery, or sports tickets. After spending $500 in 30 days to earn the maximum amount of 1,000 points, you'll bank about $23 worth of rewards.
Alternatively, after reaching the first threshold, you could select 1,000 points to put towards the Bilt Collection, though that's not even remotely enough to get you a pair of socks.
For most, the first echelon of rewards will be the easiest to reach organically. After that, you'll have to commit to some serious spending strategies to earn points to unlock more rewards. Even worse, they don't get better from there. For instance, after bagging 75,000 Bilt points, you can elect to earn 250 Bilt Points after spending $25 (through earning 10X points) on your next three Lyft rides. That's hardly a reward. On top of that, remember that you already earn 5X points per dollar spent on Lyft rides when you reserve a trip with your linked Bilt Mastercard.
Ultimately, the Milestone Rewards leave a lot to be desired. And if anything is clear, they're worth picking up organically — but not worth going out of your way to earn.
Related: How Does Bilt Rewards Stack Up for Earning Rewards by Paying Rent?
Other options
If you're after a better return on your spending, it's also worth pointing out that several of other credit cards offer 2X points per dollar spent on a standalone basis. Take the Capital One Venture Rewards Credit Card, for example. Earn 2 miles per dollar on every purchase, every day. Even better, you don't have to earn tens of thousands of miles to access the 2X benefit, and the improved earnings last longer than a month.
Or, if you want to earn more transferable points on gas and groceries, the $95-annual-fee Citi Strata Premier℠ Card might be worth a look. You'll earn 10X points per $1 on hotels, car rentals, and attractions booked through CitiTravel.com; 3X points per $1 spent on airfare and other hotels; and 3X points at gas stations, EV charging stations, restaurants, and supermarkets. On top of that, there's still no need to spend more money than necessary just to earn points at an accelerated rate for a short period.
The Bilt Mastercard has a lot of pluses, but it's best used alongside another card — such as one of the two above. This way, you can maximize the return on your everyday spending in common categories like gas and groceries and then take advantage of earning rewards on rent without paying fees — a win-win situation.
Related: The Best Credit Cards for Everyday Purchases
Final Thoughts
We've been waiting for Bilt to release Milestone Rewards, which are finally live. Unfortunately, the options aren't terribly rewarding. If you're a Bilt point collector — of which there are plenty of reasons to be — Milestone Rewards are worth earning organically, but they aren't anything you should go out of your way for. It's worth considering these rewards within your long-term credit card rewards strategy.
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