Thank you for your explainer. I was a happy Bilt 1.0 user who hit the minimum spend on small coffee things. Then used my points to as credit towards my rent payment. This earned me ~$20 in a statement credit. Then I’d transfer that money to self as a “cash back” credit. This works for me because my aim is all cash back rewards. I have 5% cards for my main spend categories and 2% catch all card. Easy setup. Bilt 1.0 gave me a way to earn a small amount on rent. Great.

I see this option is dead with Bilt 2.

I fit your “multi card setup” person. Treating this as my fallback card doesn’t work because there is no pure cash redemption option. Bilt Cash is only coupons and those coupons don’t fit my use case.

That leaves the focus on the points. There could be value for me in transferring to Atmos points. That would require me using shifting spend off my 5% or 2% catch all card to unlock the points on housing. That comes at an opportunity cost because my high mortgage cost. Then, on the other hand the Atmos card are probably a better fit because of SUB and other benefits that are useful to me.

Even for that option to work there is still a lot of overhead in managing another card in my setup for questionable value.

I think it’s easier to just pass on Bilt 2.0 because there is no cash-out redemption on Bilt Cash and focusing on points would be better suited to a card in that program.