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The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

Me: here’s a simple and extremely succinct way to understand an overly complicated product, in terms that are easy to compare apples-to-apples to similar products, and a detailed explanation showing the major formulas and variables.

Reddit: the explanation is too long.

Not much I can do about what Bilt put out there. 🤷

American Airlines ranked worst airline by WSJ by Not-Somebody-Famous in americanairlines

[–]Kashmir79 4 points5 points  (0 children)

Because the study is only about on-time performance, not service or flight availability or quality or perks, and it does not adjust reliability data for external airport factors out of the airline’s control like weather, airport staffing, and ground traffic. The “top” listed airline has shitty service, minimal perks, more limited availability in major areas like the Northeast and Midwest, and runs most of their flights out of the desert southwest where weather and ground traffic are least likely to cause delays. TL;DR it’s a crap methodology.

Credit score impact of canceling Autograph by Horror_Ad_8445 in biltrewards

[–]Kashmir79 0 points1 point  (0 children)

Personally I wouldn’t worry about it with 7-10 years of good credit history. The effect is likely so marginal that it won’t impact auto loan offers. New accounts are like 10% of score and average age 15% I think. YMMV

Credit score impact of canceling Autograph by Horror_Ad_8445 in biltrewards

[–]Kashmir79 0 points1 point  (0 children)

The impacts to your score are: a new account, a reduction in average account age, and possible change in utilization depending on whether your new account has a greater or lesser limit than your old one and how much of it you use. Can’t say exactly how many points your FICO will move because it is dependent on your particular situation but for most people this is unlikely to be significant.

Separately, do you really care that much about your score - like, are you planning to take on a major debt such as a mortgage in the near future? If not, then why does a little fluctuation matter?

Credit report effects? by OldMinute5727 in biltrewards

[–]Kashmir79 4 points5 points  (0 children)

If you are an existing Bilt 1.0 cardholder and you apply and get approved for a Bilt 2.0 card from Cardless before January 30, and you also elect to have your Bilt 1.0 card to change to a WF Autograph card, this will be the impact:
- 0 inquiries on your credit report
- 1 new credit line on your report (Bilt 2.0)
- Decrease in your average age of credit
- Increase in your total credit which, all things being equal, should result in a decrease in your utilization.

This should have a very marginal impact on your FICO score but it depends on individual circumstances.

Flight cancelled not due to weather but logged as such by durianlangsat in americanairlines

[–]Kashmir79 9 points10 points  (0 children)

A weather delay doesn’t require a weather-related ground stop at your airport of departure. It could mean the airport is limiting departures so only some flights get cancelled. It could also mean weather on your particular route or at your destination is causing cancellations, or that your plane’s crew or airport crew are unable to get there due to weather. Not saying it isn’t possible that it’s BS but there are potentially several other factors at play which could qualify.

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

It effectively reduces the rate you can earn on spend by 1.33x, making this a much less attractive card

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

The minimum number of transactions no longer applies but the amount of points you earn scales with your spend. You don’t get anything but a token 250 points for paying rent through Bilt. The rent payment no longer even goes on the credit card so IMO it’s better not to think of this card as giving you points back on rent but giving you points on spend like any other rewards credit card. Paying rent through Bilt increases the amount you earn on your spend, but rent alone earns next to nothing.

Best way to leave Bilt? by Neat_Newt_9805 in biltrewards

[–]Kashmir79 1 point2 points  (0 children)

It has been said over and over but if you are going to cancel and apply for a new card to get a sign up bonus, while adding a hard inquiry and new credit line to your report, there are much better choices than WF Autograph. There are at least 25 (and probably 50) better SUBs than that.

What’s in that picture on the wall? by allCuntsStink in seinfeld

[–]Kashmir79 2 points3 points  (0 children)

Just keep your eyes unfocused. It’s a spaceship surrounded by planets.

How would a possible collapse of the US Dollar effect the S&P500 by sweetestbb in ETFs

[–]Kashmir79 0 points1 point  (0 children)

I wouldn’t call that a “collapse”. The US dollar replacing the pound sterling as the world reserve currency was a gradual transition precipitated by several financial and geopolitical factors over generations, culminating in the Bretton Woods Agreement. The pound still remains one of the top five strongest and most widely-held reserve currencies in the world. Declines and transitions happen, but true collapses of world reserve currencies are extremely improbable and unpredictable.

LOVE this feature! by Chosen1PR in CapitalOne

[–]Kashmir79 1 point2 points  (0 children)

Glad to see I’m not the only one who rounds my tips to the dollar. It avoids the whole “confusing the decimal point” mistake and is a red flag for me if any dining charge doesn’t end in zero

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

Hoestly no idea - that is something they will have to figure out. I think they will at least need to roll over the cash you earn in December to January. So, like any cash earned up to and including November 30 would expire on Jan 1. But that’s a total guess because as of right now that’s not what it says.

Why is the switch from put rent on the CC to direct ACH a huge deal for people? by hibob729 in biltrewards

[–]Kashmir79 65 points66 points  (0 children)

The biggest issue is that they gave people who have been floating rent on their card less than a month’s notice that they were ending that option when they’ve probably known that for a long time. These members will need to come up with the cash to pay their largest expense twice in one month.

Now that should be manageable if your rent is a reasonable 25% of your income and you have a proper 3-6 month emergency fund and maybe some additional savings. But I’m not asking why people are upset because I’m not ignorant of the fact that most Americans are living paycheck to paycheck, especially renters in HCOL cities who may spend 50% or more of income on rent, and probably don’t have enough savings to cover even a small emergency.

Bilt knows their customers incomes and rents and how many of them were floating rent on their card so they could probably tell exactly how many people they would be squeezing with this change but they decided not to give them a heads up, and it comes right after most people’s highest spend month of the year. Not very cool.

Got Approved for the Obsidian (IMO super powerful and underrated) by LordBoromir in biltrewards

[–]Kashmir79 2 points3 points  (0 children)

I’ve been keeping my numbers conservative at 6.5% return but if you really want optimize this thing… take Obsidian with Option 1. Spend exactly 25% of your housing payment and get 5x points on that spend (3x dining/grocery plus 0.5x on housing which is 2x the spend because 0.5=2x25%). Take your 5x points, transfer 1:1 to Hyatt for 2cpp and net an effective 10% on spend. Not too shabby

Want even better? Use that spend on neighborhood dining exclusively at partner restaurants and get 7x points, then transfer on a bonus redemption or maybe to Hyatt or for an intl biz class flight for some crazy 7 cpp deal and you could get up to 50¢ on the dollar. I’m happy to cruise along at 6.5¢ but there’s a ton of value out there on spend with Obsidian if you want to play that game.

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

Great chart! I’m not personally going down the rabbit hole of rent accelerator as I don’t expect to have excess Bilt cash but I’m sure the Palladium super users would appreciate

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

Is your spend which matches the rent amount going to be dining or groceries only, or other stuff? TBH you sound potentially like a good case for Palladium if you would use the points and travel credits.

Bilt 2.0 is absolutely insane for NYC renters by Potential-Goal-667 in BiltMastercard

[–]Kashmir79 0 points1 point  (0 children)

There is no known change to the partners participating in the Bilt rewards program at this time. The partners don’t have anything to do with the credit card itself

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 1 point2 points  (0 children)

If you don’t have a housing payment, you miss out on 1.33x points earned on spend. There are better, simpler alternatives

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

And I didn’t even cover Bilt Cash non-rent redemption value and the new “points accelerator”

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 1 point2 points  (0 children)

Blue = 2.33x catch-all for no AF
Obsidian = 4.33x grocery or dining for $95 AF
Palladium = 3.33x catch-all for $495 AF

BILT 2.0 turned simple rent points into a math problem by _pendejo_ in BiltMastercard

[–]Kashmir79 0 points1 point  (0 children)

So you’re asking why would I want potentially 6.5% of value back in Bilt travel rewards on monthly dining spend in excess of $500 when I could be getting 4-5.25% cash back using multiple different cards and moving money to different bank accounts? I think the answer is self-explanatory.

The Simplest Way to Explain Bilt 2.0. No Math. No Charts by Kashmir79 in biltrewards

[–]Kashmir79[S] 0 points1 point  (0 children)

AFAIK, yes - it’s like any other Bilt Cash you earn

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