Happy hump day from NYC!

Even without hitting the road, I promised it would be a big week, and I don’t like to disappoint. (You can be the judge of that by the end of today’s edition.)

Well, the news that so many of you have been waiting for is now official: Bilt’s three new credit cards are live.

There’s a lot to digest, but the big headline is that you can still pay your rent (and now your mortgage bill!) via the new Bilt cards for free. However, the days of milking the Bilt card for free points are over.

Unless you’re putting non-housing expenses on the new cards, you won’t actually earn points on your housing payments.

While Bilt may steal much of today’s show, you won’t want to miss updates to Delta’s fleet, a massive inconvenience coming to Newark, American’s Wi-Fi rollout, and much more below.

I’m sure you’ll have lots of questions, so mark your calendars for 7pm ET tomorrow. I’ll be cohosting an Instagram Live recap and Q&A session about Bilt 2.0 with @pointsbyj.

The next generation of Bilt is here, and not everyone will be a fan.

If you’re used to earning free points on rent with just five transactions a month, you’ll have a big decision to make: upgrade or cancel?

And if you choose to keep, you’ll need to decide which of the company’s three new credit cards you want to use going forward.

I’ll first compare the three credit cards, and then talk about what we should do.

Bilt’s three new credit cards are below.

You can only pick one, and if you do nothing, your existing Bilt will automatically be converted into a Wells Fargo card (that you can close on or after Feb. 7).

Now for the answer to the question that’s on everyone’s mind. You can still make housing payments for free on any Bilt card. And this now covers mortgages, which is huge.

But you won’t earn points unless you also spend money on the card.

Bilt Cash is the (confusing) new currency that’ll correspond to how many points you can earn on rent or mortgage payments.

You’ll earn 4% Bilt Cash on all your non-housing expenses charged to a Bilt card.

Bilt Cash can be used in a variety of ways, but the one I’m most interested in is this: for every $30 you redeem in Bilt Cash, you’ll earn 1,000 points on housing expenses.

The more you spend on your Bilt card, the more Bilt Cash you’ll accrue, and the more points you can earn on housing expenses.

If that confused you, I’ll make it super simple with this handy formula:

Monthly everyday spending * 1.33 = Number of monthly points (max) you can earn from rent or mortgage payments

So if you spend $1,800 a month on a Bilt card, you'll earn up to 2,400 points on your monthly rent or mortgage payment.

So now you need to decide whether to upgrade or cancel your existing Bilt card.

If you want to upgrade, you need to do so by Jan. 30.

If you want to cancel it, do nothing now and just make sure to cancel your card directly with Wells Fargo on or after Feb. 7. Don’t fret: you’ll retain your Bilt points and status even if you close your card.

If you were just using Bilt for free points on rent with little investment, I’d just close your card and be grateful for all the points you earned along the way.

But if you’re willing to move a significant portion of your everyday spend to a Bilt card, it would definitely make sense to stick around.

If you’re new to Bilt and are excited about the opportunity to earn points on rent and mortgages, you can’t actually sign up for a new card just yet. (I’ll share an update when that’s live.)

What you can do, however, is create a free rewards account now to expedite the sign-up process.

You can do that using this link.

As someone with a lot of everyday spending (i.e., childcare expenses), the Palladium card should be a no-brainer.

Obviously, the $495 annual fee is steep, but it’s also a super rewarding card for non-bonused spend.

I’ll earn 2x points per dollar spent, and that spending will also supercharge my Bilt Cash earnings, which in turn means I’ll earn more points on housing expenses.

Plus, you get 50,000 points and a year of Gold status after you spend $4,000 in the first three months, which together offset the annual fee.

I’ll be upgrading to the Palladium and reevaluating the decision a year from now when the annual fee renews.

I’m co-hosting an Instagram Live Q&A session with @pointbyj on Thursday (tomorrow) at 7pm ET.

If you can’t make it live, we’ll save the recording for your weekend viewing pleasure.

Reply to this email with all your questions, and I’ll be sure to answer them all.

Delta just purchased 30 Boeing 787-10 Dreamliners, its first Boeing widebody order in ages.

The jets will primarily serve high-demand transatlantic and South American routes, and feature larger Delta One Suites and Premium Select cabins than you’ll find on existing jets.

First deliveries are slated to begin in 2031, which can’t come soon enough because the aging 767s desperately need a replacement.

Starting on Thursday, getting to or from Newark Airport using Amtrak or NJ Transit is about to become a serious pain.

That’s because the AirTrain that connects the airport train station with the terminals is partially shutting down.

The upside is that the Port Authority is building a $3.5 billion replacement AirTrain by 2030. But there will be some serious short-term pain for a big long-term gain.

Buses will replace the train during the service suspension, and the Port Authority is advising travelers to add up to 60 minutes to their travel time when taking Amtrak or NJ Transit. Yikes.

When American announced it was enabling free Wi-Fi, it neglected to specify a concrete timeline.

That led scores of you to message me after being forced to pay for internet access in the meantime.

Well, I tracked down a timeline, and here it is.