TPG founder Brian Kelly is a Bilt adviser and investor.
Bilt Rewards, this system recognized for serving to members earn factors on lease funds, simply introduced its newest enterprise: a partnership with main drugstore chain Walgreens. Because of this new relationship, Bilt members can have a neater time utilizing their Versatile Spending Account and Well being Financial savings Account advantages, and so they can earn further rewards on Walgreens purchases and prescriptions — even when they do not pay with the Bilt Mastercard® (see charges and charges).
Let’s take a more in-depth take a look at the brand new advantages Bilt is providing.
Hyperlink your FSA/HSA account to Bilt Rewards to economize
The primary a part of Bilt’s Walgreens partnership is designed to assist members make the most of their FSA and HSA advantages. Once you store at Walgreens with any debit or bank card linked to your Bilt account (it would not need to be the Bilt card), Bilt’s new system will mechanically establish FSA- or HSA-eligible objects in your buy. You may be notified which objects out of your Walgreens buying journey are eligible, and you’ll simply apply a credit score to your authentic type of fee out of your FSA or HSA card.
In keeping with Bilt’s press launch, “At the moment, $4 billion in FSA funds are misplaced due to the complexities in realizing what objects qualify for these funds and the requirement to hold a separate, devoted fee card.” With its latest function, Bilt hopes to simplify well being care buying and make FSA and HSA funds simpler to make use of.
If this function — which Bilt touts as a “one-click answer to use advantages” — is so simple as it sounds, this may very well be an enormous win for Bilt members. You may earn a whole lot of factors and miles by utilizing a rewards card on well being care purchases after which reimbursing your self out of your FSA or HSA, however the trouble concerned usually discourages individuals from doing so. Bilt’s new system may make it a lot simpler for factors and miles lovers to earn rewards on their FSA- and HSA-eligible purchases and get nearer to their subsequent free journey.
Associated: Bilt journey portal: redeem and switch factors for flights, resorts and extra
Earn factors when buying at Walgreens
The opposite advantage of Bilt’s new partnership is that Bilt Rewards members can earn further Bilt Factors on Walgreens purchases — it doesn’t matter what bank card they use. So long as you hyperlink your card to your Bilt account earlier than utilizing it at Walgreens, you will earn 1 level per greenback spent on all Walgreens purchases, 2 factors per greenback spent on Walgreens-branded objects, and 100 factors per prescription refill (topic to sure exclusions), along with your regular bank card rewards.
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So, for instance, when you use the Capital One Enterprise Rewards Credit score Card to pay in your Walgreens buy, you will get 1 or 2 Bilt factors per greenback plus the two Capital One miles per greenback you’ll usually earn on all purchases. Or when you maintain the Chase Freedom Flex® or Chase Freedom Limitless®, you will earn 1 or 2 Bilt factors per greenback plus the three Chase Final Rewards factors per greenback you’d usually earn at drugstores. Since Walgreens sells far more than well being care provides, you can stack rewards on on a regular basis purchases like shampoo, snacks, reward wrap and photograph prints.
And you may mix these rewards with Walgreens’ loyalty program, myWalgreens, which helps you to earn factors on purchases and redeem them for a reduction on a future buy. I really like this program as a result of it usually affords coupons that provide you with bonus rewards when you spend a specific amount, like “Get $7 in rewards if you spend $35,” making it straightforward to build up rewards quicker. I at all times test my account for these coupons earlier than every Walgreens journey.
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Backside line
Bilt Rewards members might be completely satisfied to see Bilt’s new partnership with Walgreens, particularly after Bilt ended its partnership with American Airways AAdvantage earlier this 12 months. Since Walgreens has over 8,000 places throughout all 50 U.S. states and sells a wide range of well being care objects and different requirements, this partnership may show worthwhile to many Bilt Rewards members.
As a result of I am not a renter, I’ve by no means significantly thought of getting the Bilt Mastercard® (see charges and charges) — however with Bilt including new switch companions and rewards-earning alternatives, I could change my thoughts.
For charges and charges of the Bilt Mastercard, click on right here.
For rewards and advantages of the Bilt Mastercard, click on right here.
