I’ve been diligently working towards earning Silver status with my Bilt Rewards card, aiming to hit the $10,000 spend goal by the end of the year. As part of my strategy, I’ve been focusing on large purchases, especially on rent day, when double points are up for grabs. So, when I recently received a targeted offer promising 3 Bilt points per dollar spent on streaming services like Netflix, Spotify, and Hulu, I thought this could be a fantastic way to rack up some extra points. But, after reading the fine print, I quickly realized that this “bonus” offer is more limited than it appears. Here’s why.
The Offer: 3 Points Per Dollar on Streaming Purchases
At first glance, the offer sounds simple enough—earn 3 Bilt points per dollar on purchases at Netflix, Spotify, and Hulu for a limited time (31 days from the email). But as I looked closer, the restrictions and limitations became glaringly obvious.
1. The Cap on Points
The most obvious issue is the cap on bonus points. No matter how much you spend, you can earn a maximum of 1,000 bonus points (equivalent to $500 in net purchases). For anyone working hard to hit big spending milestones or maximize their rewards, this low ceiling makes it challenging to really benefit from the promotion. Even if you were to spend much more on streaming, you’re still limited to the same 1,000 points.
2. Limited Streaming Plan Options
While you can technically earn bonus points on streaming services like Netflix, Spotify, and Hulu, none of these services offer a straightforward way to fully leverage the offer:
- Hulu offers an annual plan, but only for the ad-supported version, which costs $79.99. To reach the $500 cap, you’d need to pay for multiple accounts at that price, which isn’t practical for most people.
- Netflix doesn’t offer an annual plan, so the most you can charge for a single account is $22.99 for the premium plan. That’s not enough to get you anywhere close to the bonus point cap.
- Spotify only earns bonus points on charges directly from Spotify, not on gift cards or third-party purchases. So, if you’re considering buying an annual gift card through Amazon or Best Buy, which are the only places you can buy them, you wouldn’t qualify for the bonus points.
3. The Bigger Picture: Other Cards Offer Streaming Bonuses Too
Bilt’s offer might seem appealing at first, but it’s worth considering that other credit cards already offer streaming services as a bonus category with fewer restrictions. For example, cards like the Virgin Red Mastercard and the Chase Sapphire Preferred have more straightforward rewards for streaming subscriptions without the same limitations as the Bilt offer.
Conclusion: A Missed Opportunity?
Ultimately, while this Bilt Rewards streaming offer may seem enticing at first, the limitations on earning potential—like the low cap on bonus points and the restricted spending options—make it difficult to fully take advantage of it. Instead of being a generous reward, this offer feels more like a way to get people to update their payment information and keep their Bilt Rewards card as the primary payment method for streaming subscriptions.
That said, my optimistic side hopes this is Bilt’s way of testing the waters for a future, more permanent streaming rewards category. It could be a valuable addition to their program if it becomes a regular bonus category. On the other hand, my cynical side sees this as more of a ploy to nudge people into keeping their Bilt Rewards card tied to their streaming services, even if the actual rewards don’t make it worth the effort.
While this particular promotion may not be getting me much closer to Silver status, I’ve already changed my payment method for this month to my Bilt Rewards card in hopes that it’ll show Bilt there’s interest in streaming as a bonus category. I’m still sticking to my original strategy of focusing on rent day and larger purchases for the double points boost, which remains my best path to hitting my $10,000 goal by the end of the year.
What do you think? Have you found a better way to leverage streaming offers with your cards? Let me know in the comments!
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