The battle over the most luxurious travel credit cards heats up with the debut of Bilt Palladium, a deluxe credit card that looks set to give other high-tier travel cards a run for their money.
Introduced by Bilt Rewards, the Bilt Palladium rolls out the carpet with a head-turning package of glittering perks. Recently launched in the market, this premium credit card is making discernable waves and drawing curiosity from luxury travelers and globe wanderers alike. Can this fresh-from-the mint finance companion rival the already established premium travel credit cards offers? Let’s delve in and find out.
Starting with the basics, the Bilt Palladium, a product of Bilt Rewards in partnership with Evolve Bank & Trust and Mastercard, is billed as the first-ever premium travel card providing points for rent payments — a rare, if not unique, proposition. This novel feature stands out prominently when compared to the offerings of other premium travel credit cards in the market such as the Chase Sapphire Reserve, American Express Platinum, or the Citi Prestige.
The benefits of the Bilt Palladium can be particularly alluring to those renting their living spaces, as the card offers one reward point per dollar spent on rent without charging any transaction fees which, in the long run, can add up to considerable savings and earnings.
Digging deeper into the rewards section, Bilt Palladium certainly holds its ground against competition. From earning one point per dollar on every purchase—without any cap—to an impressive 2x points on travel, dining, and experience-based purchases, the Bilt Palladium leaves no stone unturned. It’s worth mentioning that Bilt reward points boast a strong lineup of 16 transfer partners, including big names like American Airlines and Hyatt, allowing flexibility for travelers.
Strikingly, the $495 annual fee might instantly raise eyebrows. However, when weighed against the plush perks offered, it seems to balance out. Pitted against the American Express Platinum’s $695 fee or the Chase Sapphire Reserve’s $550, Bilt’s annual fee might look more palpable to customers. Additionally, Palladium cardholders can get up to $350 in statement credits every year for travel purchases, noticeably reducing the effective annual fee.
In concurrence with standard premium card offerings, the Bilt Palladium cardholders enjoy complimentary access to airport lounges, elite status in leading hotel chains, airline incidental fee credit, expedited security at airports amongst others. It does not, however, offer some perks available with other premium travel cards like a Global Entry or the TSA Pre-Check credit.
Lastly, one of the hotly debated areas about travel credit cards — foreign transaction fees — has seen Bilt Palladium victoriously coast through. While several high-end cards add a 1-3% charge on foreign transactions, the Bilt Palladium provides its users with a foreign transaction fee waiver.
To wrap up, while the Bilt Palladium does lack some enticing features of competitors such as the complimentary Global Entry, it compensates by leveraging its unique proposition—gathering rewards for rent. As always, the choice would rely heavily on individual users’ lifestyle and travel habits.
With a flexible rewards program and a strong value proposition for renters, Bilt’s new credit card boldly challenges the time-honored leaders in the premium travel credit card industry. It remains to be seen whether this trailblazer will spark a reshuffle of the pecking order among its high-rolling rivals.
Original Source: https://www.cntraveler.com/story/how-the-new-bilt-palladium-stacks-up-to-other-premium-travel-credit-cards
