NEW Capital One Card to Rival Amex Gold + Bilt Rent Day Benefits

in this video we have two topics to cover First we have the built rent day benefits including a massive transfer bonus to a certain airline for built card holders or anyone who uses built system to earn points because you can use any card now and earn points on rent as well as a lot of other things Then also we have rumors of a new Capital One mid-tier credit card set to rival the MX Gold that may be in the works We're going to tell you all about that as well Hey credit warriors welcome to the show My name is Ben Hedges aka the credit shu and on this channel I cover US credit cards and personal finance topics especially how to collect credit card points and miles to use for free travel If you like the sound of that please subscribe but let's get into the video So first up we have built rent day benefits Now if you don't know built is a system that lets you pay rent to any landlord with a credit card Now if you use just any credit card you will have to pay a 3% fee but you will earn points or cash back or whatever your card earns plus one built point per dollar spent But then Built also has a credit card that you can use to pay rent through their system which doesn't hit you with the 3% fee and you still earn one built point per dollar You do have to make five non-renactions with the card each month in order to earn points for that month but there are some other great non-ren categories like three points per dollar on dining You can earn points on up to $100,000 in rent payments per year And Built is aiming to bring in the ability to pay mortgages with their system too later this year Points are redeemable multiple ways but the best value is by transferring them out to Built's transfer partners which are on screen now Now on the first of every month there is what they call rent day where Built doubles the rewards on every category except for rent So you get six points per dollar on dining which is really cool And if you combine that with their dining program where most restaurants give three points extra that's going to be nine points per dollar just for that one day Then in addition to that on rent day there are always some special benefits that are different each month And that is what we are going to talk about now because this rent day okay May 1st Built is offering a huge transfer bonus when you transfer points to their newest partner Southwest Airlines So they actually added Southwest just a few days ago and thus it kind of makes sense that they would promote their newest partner with a rent day promotion So here it is Here are the different bonuses you get at each level of built membership Blue members which is everyone just after you sign up you're a blue member you'll get a 25% transfer bonus For silver members you get a 50% transfer bonus Okay so you know what this means right if you transfer 1,000 points at 50% you get 1,500 in your account Gold is a 75% transfer bonus and platinum is a 100% transfer bonus So you transfer 1,000 points you get 2,000 If we use a point sky valuation for Southwest points of 1.5 cents per point then here are the values you get for your original built points after they are transferred over with those bonuses You can see it ranges from 1.875 cents per point for blue all the way up to 3 cents per point for platinum members with that 100% bonus So if you have that 100% transfer bonus for being a platinum member okay so it's 3 cents in value per original built point And if you use your card on rent day for a dining purchase at a restaurant in the dining program you're getting six points per dollar for dining on rent day and then another three points per dollar for the dining program for a total of nine points per dollar and 3 cents in value per point So that's a 27% return on that dining spend Obviously not every purchase is going to be nine points per dollar and it's not every day you have that 100% transfer bonus but it's a cool little data point And remember this is just for that one day May 1st So if you are thinking of going somewhere or you're experienced in using Southwest for rewards redemptions and you know that you will find a use for those points it's a great time to take advantage of this offer And guys if you are interested in Built you can click on the link down below to join and link your card any card You don't have to get the Built card right away You could think about it maybe getting it later if you want You can then pay rent and earn points and also use their dining program and also earn extra points when you use your linked card at Walgreens as well And it's kind of a no-brainer actually I have my Chase Freedom Flex linked to my built account and that earns three points per dollar at drugstores but now it's three Chase points per dollar plus one built point per dollar So a total of four points per dollar if I go to Walgreens Okay obviously not at other drugstores but we have a local Walgreens that I normally go to and I'm getting four points per dollar So if you're interested in that guys link is below Do check it out All right let's move on to one more rent day benefit before we get into talking about this rumored new Capital One card So the other rent day benefits besides the usual game show where you can win a month free rent etc which I normally don't talk about because they do it every month But this rent day we have one more targeted benefit Okay meaning not everyone will necessarily get it But if you are targeted for it it is a 25% bonus in redeeming points at Amazon Now before you go open up your Amazon account I want to remind you that Amazon redemptions are usually the worst way to redeem any kind of credit card points okay and this one is no different The value you normally get is 0.7 cents per point with built So a 25% bonus of 0.7 is going to be 0.175 All right So you get a grand total of 0.875 cents in value per point if you're targeted I would be like "No I don't want to be targeted Guys don't even tempt me with such a poor redemption." In my opinion anything under 1 cent per point is just a waste of your points So I normally do not recommend it unless you're really struggling financially and you just need to buy some stuff on Amazon Sure this could help you out but other than that don't do it All right let's now move on to the new rumored Capital 1 card Now this is coming from Doctor of Credit I'm not sure where they got this news but apparently Capital 1 has been sending out surveys asking people's opinions on a new mid-tier credit card and they've got a screenshot of it Let's read out what Capital 1 is asking So they're asking for an opinion First they explain what Capital One Entertainment and Capital 1 Travel are I don't think I need to explain that to you You guys probably know their booking platforms They then go on to say "Please assume that this card offers points currency and a compelling early spend bonus." I like how they word that a compelling early spend bonus I'm guessing that would be probably at least 75,000 points since that's what they offer on the Venture and Venture X Maybe they would launch the card with a hundred,000 points uh for spending maybe four or $5,000 in three months and then go down to 75 later That's what the Venture X did Then they say "Please assume the credit card has no foreign transaction fees." And here are the point earning categories Four points per dollar on dining and entertainment three points per dollar on groceries 10 points per dollar on hotels and car rentals through Capital 1 Travel 10 points per dollar on Capital One Entertainment and one point per dollar on all other purchases So at first glance the bonus categories do look good Four points per dollar on dining competes with the MX Gold and they have the extra four points per dollar category on entertainment that the gold doesn't have But groceries are only three points per dollar on the gold they are for But perhaps 10 points per dollar on hotels and car rentals on Capital 1 travel and 10 points per dollar on Capital 1 entertainment make up for that I don't know What do you think leave your comments below But then this card does have an annual fee pretty similar to the MX Gold The MX Gold is 325 This potential new Capital 1 card undercuts that just a little bit at $295 So $30 less However cards with annual fees in this range like the MX Gold do generally have credits to offset those high annual fees And it seems Capital 1 has plans for some credits too We'll take a look at those in just a sec So here are the credits that Capital One seems to want to have on this card A $100 Capital One travel credit Sounds good and easy to use A $100 dining credit for a collection of the best restaurants They mention Michelin starred here which are obviously going to be very expensive so you're going to be spending more than $100 in order to get that $100 back An annual $120 credit at Starbucks I'm guessing that's going to be $10 per month because there's 12 months in a year Then we have Apple TV and Uber 1 memberships both $120 in value So altogether that comes out at $560 in value If you take out the two memberships it's $320 that you're actually getting in the form of statement credits But no matter what it would offset the annual fee if you view those things as worth it for you I think Capital One travel and the Starbucks credit would be worth it for me because I do travel occasionally and definitely I get coffee at coffee shops at least a few times a month So you know I could go to Starbucks It's not my favorite but I could definitely use it The dining credit we'll have to see how high-end those restaurants are in the collection and whether they're all over the country or just in certain key cities to figure out how usable it is Also whether it's going to be monthly or quarterly or every six months or just $100 for the year that plays a big role because if it's just a $100 for the year you go on vacation say like you know I don't know you go to Vegas or something and there's definitely going to be one of these restaurants in Vegas right it's a capital of food and entertainment Same with New York LA etc You go on vacation to some big city you can use it you know on vacation at a restaurant But uh if it's split into you know $50 per 6 months or even $25 per quarter it's going to be harder to use But guys what do you think about this card is it a good card or do you just see Capital One joining the whole coupon bookification i made that word up Coupon bookification of credit cards with this Leave your comments below And remember it's just a rumor okay or a potential card that may come out may not but it's always good to see new competition in the credit card space If you're interested in signing up for Built linking your card to earn points in their dining program at Walgreens or pay rent do click the link down below As always thank you so much for watching Please subscribe if you're new and we'll see you in the next video