All the Hacks: Money, Points & Life

"Points & Miles in 2026: What's New, What's Dying & What's Next" with Brian M

Host: Chris Hutchins
Guest: Brian M
Date: January 21, 2026

Overview

In this first conversational-style episode of the year, Chris Hutchins sits down with points and travel enthusiast Brian M to discuss major changes and trends in the points and miles world heading into 2026. They break down Bilt's major credit card shakeup, the sudden demise of the Mesa card, practical tips for maximizing points, and ways to plan more flexible, rewarding travel. The episode also includes predictions for the coming year, systematized trip-planning advice, and rapid-fire Q&A.

Key Discussion Points & Insights

1. Major Changes in the Points and Miles Landscape (00:00–14:59, 19:58–46:48)

Bilt Card Revamp

• Background: Bilt, previously known for letting users pay rent and earn points with a unique multiplier structure, completely overhauled its credit cards, moving away from Wells Fargo to Cardless as the issuing partner ([01:27]).
• New Offerings:
  • Three new cards:
    • No annual fee card: 1x on everything
    • $95 annual fee ("Obsidian"): 3x on dining or groceries (must choose one, groceries capped at $25k/year), 2x travel, 1x everything else
    • Palladium ($500 annual fee): 2x on all "everyday spend" (not all categories), $200 yearly Bilt cash bonus ([02:35]-[08:10]).
• Built Cash Concept:
  • To earn points on rent and mortgage payments, users must earn and use 'Bilt Cash' – spending $30 Bilt Cash unlocks 1,000 points ([08:10]).
  • This replaces the old "5 transactions" rule and essentially functions as a 3% cost to earning rent/mortgage points (offset through other earnings).
• Transfer Partners & Bonuses:
  • Bilt stands out for unique and frequent transfer bonuses (to Alaska, Hyatt, Japan Airlines, etc.) ([02:35]).
• Complexity & Value Calculation:
  • Increased complexity in the new system; cardholders must weigh opportunity costs, category caps, and actual values for multipliers and benefits ([09:30]-[11:22]).
• Sign-up Bonus Uncertainty:
  • Early questions about whether existing cardholders will get new sign-up bonuses; later clarified that they will ([76:16]).
• Sustainability:
  • Both agree Bilt’s changes make the program sustainable, avoiding the fate of unsustainable startups like Mesa ([12:26]).

“They’re adding complexity and complications with this Build Cash concept... Probably mostly just because of the ratios they chose to use.” – Brian ([01:59])

Mesa Card Shutdown

• Overview: Mesa, a startup card promising lucrative rewards (including 3x across rare categories and mortgage rewards, no annual fee), abruptly shut down its credit card product with zero notice ([20:07]).
• Risks of Startups:
  • Mesa's quick demise illustrates the risks of engaging with points startups, especially when they run unsustainable models ([20:52]).
• What Happened to Points:
  • Cardholders panicked but Mesa eventually honored points as statement credits (not transferable, but better than nothing) ([21:54]).
• Future Trends:
  • The ease of spinning up points programs using third-party providers like Ascenda means more such startups—and more risk—are likely ahead ([22:44]).
  • New brokerage Silo and others now offering transferable points (raises questions about value, sustainability, and risk) ([23:47]).

“Mesa may just be the first of a similar line of opportunities and learning lessons as we go...” – Brian ([25:51])

2. Predictions & Trends for 2026 (29:48–46:48)

• More Flexible Points Startups:
  • Ascenda and others are enabling more small financial companies and startups to offer transferable points ([30:06]).
• Debit Card Innovations:
  • Co-branded debit cards (e.g., Wyndham, Southwest, United) are picking up steam ([30:06]).
• Elite Benefits Shifting:
  • Airlines/hotels are moving away from traditional travel benefits to more broad-ranging perks (e.g., milestone choices, ability to use points beyond upgrades) ([30:38]).
• Southwest Airlines:
  • Major changes: assigned seating, bags policy, expanded ‘premium economy’ demand ([31:47]).
  • Companion Pass’s long-term future is questionable—likely to become harder to earn before being eliminated ([32:28]-[35:22]).
• Potential Legislation:
  • Proposed (but unlikely) U.S. cap on credit card interest rates could impact availability of points but likely not devalue existing points ([35:22]-[36:07]).
• Coupons & Credits:
  • Growing trend for valuable cards to include more ‘coupon’ benefits—making it hard to use all credits, which may decrease their felt value ([40:35]-[41:35]).
• Personal Deduction:
  • Points/credit management tools are getting more powerful and AI-enabled ([36:07]); Chris is building a custom tool for evaluating card value.

“The most exciting opportunities for people like us are the ones that get outsized value. So we have a selection bias... If someone launches a 1x everything card with transferable points... I should feel good parking a balance there. But I’m like, why don’t I use that card?” – Chris ([26:08])

3. Keeping, Downgrading, or Canceling Credit Cards (43:22–51:28)

• Annual Fee Analysis:
  • Only keep cards if the real-world value from their benefits exceeds the annual fee (adjusting for “breakage” and how much you would pay out-of-pocket) ([43:22]).
• Old Accounts Matter:
  • Importance of credit age; consider downgrading to keep long-term accounts open ([47:57]).
• Impact of Canceling:
  • Consider effect on transferable points currencies, whether points are tied to the card, and if downgrades are possible ([47:57]-[50:35]).
• Retention Offers:
  • Retention bonuses/offers from issuers now less common and less lucrative than in past years ([47:56]-[51:28]).

“If a friend came to me and said, ‘hey, could you book a hotel room with your Amex FHR credit and get me $300 off a night and I’ll give you $50?’ I’d probably say yes. So, like, that credit is not worth $300 to me.” – Chris ([41:35])

4. Planning Your Points-Optimized Trip (51:28–72:28)

Trip Planning Strategy

• Systematic Approach:
  • Define travel party (who/why/when/where/how); consider requirements (e.g., specific hotels, number of beds/rooms, air conditioning, elite status, etc.) ([52:13]).
  • Focus on booking flexibility (award bookings now far more flexible than pre-pandemic) ([52:13]).
  • Book at the ‘leading edge’ (11–13 months out) for the best award availability—especially for large families ([57:59]).
• Handling Too Much Flexibility:
  • Use constraints (dates, destinations, anchor hotels or specific flights) to narrow options ([56:47]-[58:48]).
• Elite Status and Award Strategies:
  • Weigh importance of booking direct with preferred airlines versus partners ([61:01]); sometimes status won’t matter if booking premium cabins anyway.
  • Leverage elite status quirks (partner award calendars, cardholder discounts, etc.), which sometimes require manual searches ([63:23], [63:59]).
• Tools They Use:
  • Points Path for domestic; Seats Aero and manual searches for international ([63:23]).
  • Use (and set) alerts for fare drops, better availability, etc. ([72:28]).

Hotels & Accommodations

• Connecting Rooms & Family Plans:
  • Hyatt’s Family Plan (second room up to half off, often can guarantee connecting rooms through phone booking—may vary by hotel/brand) ([67:02]-[68:20]).
• Suites and Timeshare Options:
  • Use certificates and programs that allow booking suites or large timeshare units—especially valuable for families and groups ([69:24]-[70:20]).
• Monitor and Rebook:
  • Bookings should be seen as dynamic; monitor for improvements or changing trip requirements ([70:20]).

“The flights may have been booked long before the hotel or the hotel long before the flights. And as time goes on, I’m consistently monitoring the reservations and looking at alternatives...” – Brian ([70:20])

5. Listener Q&A and Tactical Moves (73:41–80:13)

• Business vs. Personal Card Spending:
  • No major risk or known penalties for using business cards for personal expenses (or vice versa)—actual practices are “commonplace,” but check card issuers’ rules especially regarding rewards on "business" spend with personal cards ([75:33]-[76:16]).
• Approval Fatigue:
  • If card approvals dry up, look at alternate issuers, consider reducing extended credit, and know some banks require pre-emptive limit reductions ([77:29]-[79:39]).
• Mitigating Approval Issues:
  • Transfer/reallocate credit limits between cards; some issuers require you do so in advance ([78:53]).
• General Recommendation:
  • Always check and understand individual bank rules for approvals, credit handling, and rewards eligibility.

Notable Quotes & Memorable Moments

• On Bilt’s Overhaul:

  “The biggest confusing thing... is that these cards now earn points and built cash and that Built Cash can be used in ways that has not been clearly defined yet.” – Chris ([08:10])

• On Startup Risk:

  “Mesa may just be the first of a similar line of opportunities and learning lessons as we go will be really useful.” – Brian ([25:51])

• On Coupons & Credits Trend:

  “The value of the credits is going down the more I have. I let many hotel credits just go unused.” – Chris ([41:30])

• On Travel Planning:

  “If the destination is the thing, you’re going to find flights around that. But maybe you found a unicorn saver availability... and you have to book the rest of the trip around that.” – Brian ([55:31])

• On Persistently Monitoring Bookings:

  “Once everything’s booked, I’m not done. This is just the beginning of the process... I’m consistently monitoring the reservations and looking at alternatives.” – Brian ([70:20])

• On Family Travel & Flexibility:

  “Book the best you can and then wait to hopefully find something better. We’re always going to book something we would take.” – Chris ([72:28])

Timestamps for Important Segments

• Bilt Overhaul Deep Dive: [01:27]–[14:59], [19:58]–[28:54]
• Mesa Card Demise & Risk of Startups: [19:58]–[27:17]
• Predictions for 2026: [29:48]–[36:07]
• Evaluating Annual Fees, Credits, and Retention Tactics: [43:22]–[51:28]
• Travel Planning: Optimizing Points, Family Travel, Booking Strategy: [51:28]–[72:28]
• Listener Q&A Rapid Fire: [73:41]–[80:13]

Tone & Language

The conversation is friendly, candid, and practical, with the hosts sharing personal experiences, opinions, and humor along with actionable advice. Chris is methodical yet enthusiastic, Brian brings a nerdy, systematized perspective, and together they create an engaging, info-rich deep dive through the latest developments and best practices in the points and miles space.