TBNT, commonly known as "Thanks But No Thanks," is a phrase used to politely decline an invitation, offer, or proposition. However, there are other phrases that can be used to convey the same message. "Regretfully Decline" and "Apologies, but I must decline" are formal options that indicate the decision was not an easy one. "Unfortunately, I am unable to accept" is a straightforward but polite way of declining an offer. "I appreciate the opportunity, but I have to pass" is a more casual way of saying TBNT. No matter what phrase is used, it is important to express gratitude and empathy when turning down an invitation or offer.