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Rakuten cut the Bilt payout rate in half.
If you have standard Blue status with Bilt, you'll earn 500 Bilt points per $10 in cash back starting with the August 15 payout. Down from 1,000.
If you have Silver, Gold, or Platinum status with Bilt, you keep the 1,000 Bilt points per $10 rate.
American Express is still doing 1,000 Membership Rewards points for every $10 in cash back you earn.
Welcome offer: $200 of Bilt Cash when you apply and get approved. Up to $100 of Bilt Cash earned rolls over to the next year.
✦ Max's TakeThe Bilt mid-tier credit card lets you earn 3X points on groceries or dining (choose one or the other annually, and your category choice remains in effect for the entire calendar year). Note that there is a $25,000 annual cap for earning 3X points on grocery purchases, after which you earn 1X in that category.
What to Do
If you only have Blue status, maybe consider switching your payout back to American Express before August 15. That's the next Rakuten payout.
If you do have status, maybe stay put and don't change anything. Bilt points are super valuable. I think they're more valuable than American Express points, and at 1,000 per $10 you're getting the same rate either way.
Want to keep the full rate without status? The Bilt Palladium Card unlocks Gold status through January 16, 2028 after you hit the minimum spend.
Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash. Up to $100 of Bilt Cash earned rolls over to the next year.
✦ Max's TakeThe premium Bilt card that earns 2X points on everyday spend, plus up to 1.25X points on rent and mortgage payments with no transaction fee. A simplified high-value card that can rack up a lot of valuable Bilt Points.
How to Switch in 30 Seconds
Log into Rakuten (web or app).
Account Settings -> Payout Method.
Pick Amex Membership Rewards (or Bilt, if you're keeping it).
Save.
Click to expand
Rakuten Payout Options
New to Rakuten?
Use my referral link, spend $50 through the portal, and you get a $50 bonus. I get $50 too.
