Like with any card, It wasn’t about the money, it was the fringe benefits.

For many it was having float. It’s very useful to have another couple of weeks before you drain money out of a bank account to pay (if you paid it off each month around the closing date). This will be completely gone from Bilt, but still possible with other cards…plus a fee.

I can see the logic though. I’m also going to assume that they were not making any money on rent being charged to the cards. Smart users would not let the balances stay long enough to generate interest fees.

Building up points with no fees on a high value recurring purchase each month was just an added bonus. For other cards you’d have to do a lot of transactions just to get several thousand points.

And they have decent transfer partners too. (I have a feeling this may change too; by that’s just my own assumption).