I'm a bit skeptical. My interpretation of offering rewards for rent is to capture the young, long term customers for the BILT program. Kind of how American Express wants young people to start with the Green Card, because they spend more on the eventual Platinum card if they start with Green loyalty. The rewards for buying a home is probably a referral program, so BILT is being compensated for the mortgage. I can't see them taking a loss on mortgages ongoing, maybe a tiny % to keep people excited about the program, but I guarantee the bank is going to need to comp the bulk of the rewards, or we are with a higher interest payment.
I absolutely get the skepticism. Yeah grabbing Renters young is definitely a loyalty play, though for how long who knows (rent is only getting MORE expensive and it’s only going to get worse). I’m curious what they’re going to do, and I imagine Wells will get “most favored nation” status in someway for all the business they’ve given Bilt. But we’ll see. I’m also curious how Mesa does what it claims it will do.
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Thanks for the info + video!
Thanks again Jimmy!
I'm a bit skeptical. My interpretation of offering rewards for rent is to capture the young, long term customers for the BILT program. Kind of how American Express wants young people to start with the Green Card, because they spend more on the eventual Platinum card if they start with Green loyalty. The rewards for buying a home is probably a referral program, so BILT is being compensated for the mortgage. I can't see them taking a loss on mortgages ongoing, maybe a tiny % to keep people excited about the program, but I guarantee the bank is going to need to comp the bulk of the rewards, or we are with a higher interest payment.
I absolutely get the skepticism. Yeah grabbing Renters young is definitely a loyalty play, though for how long who knows (rent is only getting MORE expensive and it’s only going to get worse). I’m curious what they’re going to do, and I imagine Wells will get “most favored nation” status in someway for all the business they’ve given Bilt. But we’ll see. I’m also curious how Mesa does what it claims it will do.
Great job on TH-cam ♥️
Thanks as always Vicki!
I’m here for it, thank you.
Really enjoyed the live also, glad the tech is all lined up now.
Competition is good. We’ll see what happens. I will be keeping tabs on Mesa.
I’m glad it went off without a hitch