Bilt is back in the Churn-o-Tron 5000 news cycle, this time because they sent a bunch of “oops, my bad, I guess we do actually need customers” emails to existing card holders that had been soft or hard denied for conversion to the new Cardless versions of the card.
That’s positive when taken at face value, but it also illustrates a critical point in churning:
Simplicity beats complexity, unless the complexity is really, really valuable
– MEAB tome of apocryphal wisdom
I’m going to wager that you can’t find a churner who can argue that the new version of Bilt has any heir of simplicity with a straight face. Assuming that’s true, you’d better find a metric ton of value in the new Bilt ecosystem before you decide to join.
If a metric ton of value isn’t obvious though, maybe consider that your time will be better spent by using a Citi Double Cash card, Venture X card, American Express Blue Business Plus card, or Chase Ink Unlimited card and looking for other plays instead of taking hours learning the ins-and-outs of the most complex credit card program ever invented for the possibility of good returns before Cardless axes you. With all of those non-Bilt cards:
- You’ll earn 2x on all spend (1.5x for the Ink Unlimited)
- The annual fees are simple
- The programs all have valuable transfer partners
- You don’t have to spend hours learning how to use the card
- Richard Kerr won’t be watching your plays in real time
So naturally the follow-on question is: Well, is there a metric ton of value in the Bilt program?
I think generally the answer is absolutely not for a whale, maybe for a dolphin, and possibly for a shrimp. But, you do you friends, and obviously what you know is different than what I know. Let me leave you with a new word, courtesy of Chris from All the Hacks: Bilted, which (I’m definitely paraphrasing and editorializing his words) means “So much complexity that you want to give up and laugh, but maybe there’s a good deal behind it all.”
Have a nice Tuesday friends!
With the right you complexity you can drive in a river like churning legend Danny too. But should you?