tl;dr – Bilt has had quite the year in increasing the utility and accessibility of its rewards currency.
Some notable changes to Bilt Rewards. The company that wedged its way into the transferable currency ecosystem with its pay-your-rent-with-a-credit-card onramp announced it is adding another transfer partner – Etihad Airways. Bilt Rewards points will transfer to Etihad at a 1:1 ratio. Etihad is Bilt’s 22nd transfer partner, which is quite impressive. This leaves Chase Ultimate Rewards as the only member of the five major bank points that doesn’t transfer to Etihad. (I’m not considering Wells Fargo or Mesa as ‘major’ for the moment.) This comes during the same year that Bilt has already added the ability to transfer its currency to Japan Airlines, Qatar Airways, and Southwest Airlines. Other changes at Bilt this year include transitioning away from Wells Fargo in favor of Cardless as the bank partner for its revamped credit card. Oh, and it’s whopping $10 billion valuation.
Rakuten – one of the more prominent cashback and shopping rewards services – recently announced it’s adding Bilt Rewards as a cashback option. Rakuten already has a partnership with American Express, where members can choose Membership Rewards as a cashback payout option. Adding Bilt to the mix is another way for folks to accumulate Bilt Rewards points, which can then be used with unique transfer partners like Alaska Airlines and Hyatt. The cash-out ratio has yet to be confirmed, but rumors are that it might mirror the current setup Rakuten has with Amex Membership Rewards.
