credit card

A card we have been loving lately is the BILT card. This card makes sense for anyone who pays rent and wants to get something back for it. Keep reading to discover the pros and cons of using the BILT credit card.

bilt card

The BILT Rewards credit card launched in June 2021 as a unique offering that allows renters to earn points on rent payments. It is issued by Wells Fargo and uses the Visa network. The BILT Rewards program is designed to help renters build credit and earn rewards when paying rent.

Key features of the BILT Rewards card include:

  • Earn points on rent payments
  • Earn bonus points on travel, dining, rideshares, and fitness club purchases
  • Redeem points for travel through the BILT travel portal or for cash back
  • No annual fee
  • Reports rent payments to all three credit bureaus to help build credit

The BILT card aims to provide renters a way to build credit and earn rewards on a major monthly expense. This review will analyze the pros and cons to determine if the BILT Rewards card is worthwhile for renters.

BILT Card Benefits

The BILT Mastercard offers a unique rewards structure compared to most other rewards credit cards. The standout feature is the ability to earn points on rent payments, which few other cards provide.

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Cardholders earn:

  • 1 point per dollar spent on rent payments, up to 50,000 points per year
  • 2x points on travel booked directly with airlines, hotels, car rentals, and cruise lines
  • 1x point on other purchases

In addition to the rewards earning structure, this card includes other valuable benefits like purchase protection, extended warranty protection, and no foreign transaction fees. The ability to earn rewards on rent with no annual fee makes this an attractive option for renters looking to offset housing costs.

Earning Rewards

There are a few main ways to earn rewards points:
  • Apply for the BILT Mastercard to earn 1 point per dollar spent, up to 100,000 points per year. This is the primary way cardholders can rack up points quickly.
  • Pay rent through the app to earn 1 point per dollar spent on rent, up to 50,000 points per year. This allows renters to earn rewards on a major monthly expense.
  • Refer friends to open a Bilt card and earn 10,000 bonus points when they are approved.
  • Complete bonuses and promotions offered in the app, like taking surveys or connecting other accounts.

The main cap is the 100,000 point limit on credit card spend. However, rent payments and other earning methods don’t count toward this cap, so it’s possible to earn well over 100k points per year through a combination of spending and rent payments. There are no caps on referral bonuses or app activities.

Redeeming Rewards

Rewards points can be redeemed in a few different ways, but the main redemption option is through the BILT Collection online shop. This shop offers merchandise like apparel, art, home decor, electronics, and more. The collection is curated seasonally with exclusive items only available to BILT Rewards members.

There is no minimum number of points required to redeem from the Collection. You can redeem points starting at just 100 points.

How to Pay your rent with the BILT card:

If your landlord is already part of the BILT Alliance, they will receive your payment directly from the BILT app and handle it seamlessly with the property management company. No hassle, no stress.

But what if your landlord isn’t part of the alliance? Use the BILT app to mail them a check. You’ll still earn 1x BILT points for every dollar spent (up to a whopping 100,000 points per calendar year).

Pros For using the BILT mastercard

The Bilt Mastercard offers some great benefits that make it a worthwhile card to have. First, cardholders earn 1 point per dollar spent on rent payments, up to 50,000 points per year. This makes it easy to rack up points quickly if you pay rent every month.

Points can then be redeemed for travel through various loyalty programs or applied as statement credits towards rent or mortgage payments.

Another major perk is the ability to earn bonus points on dining and travel. You’ll get 3x points on dining and 2x points on travel expenses. This complements the base rent rewards nicely.

Some travel partners include:

  • Alaska Airlines
  • United MileagePlus®
  • Air France/KLM Flying Blue®
  • Virgin Red®
  • Emirates Skywards®
  • British Airways Executive Club
  • Air Canada Aeroplan®
  • and more
  • Marriott Bonvoy™
  • World of Hyatt®
  • IHG® One Rewards

The Bilt card also has no annual fee, no foreign transaction fees, and no late fees. Compared to many other rewards cards, it provides strong earnings potential with minimal fees.

Cons of using the BILT mastercard

No welcome bonus: The card doesn’t offer any sign-up bonus, putting it at a disadvantage compared to cards that offer large bonus rewards for meeting minimum spend. This makes the card less appealing for people who want to maximize rewards in the first year.

High APR: The card has APRs as high as 28.99%, making it a poor choice for carrying balances month-to-month.

Limited rewards categories: The card only offers enhanced rewards on rent payments and no bonuses on other spending categories like dining, travel, etc.

Transaction requirement: You must make at least 5 transactions per statement period to earn any rewards, which can be inconvenient.

Bottom Line

The Bilt Rewards credit card is worth getting for most renters based on the ability to earn points on rent payments with no fee. The card offers an easy way to earn rewards just for paying rent as usual.

While the rewards rate is lower than some other cards, being able to earn anything on rent is a unique benefit. The no annual fee and simple earning structure also make BILT a strong choice. Overall, BILT succeeds at rewarding renters where most other cards fall short. Unless you need premium travel perks, is likely worth getting for the average renter looking to offset housing costs.

Disclosure: This post may contain affiliate links, meaning we receive a commission for purchases made through these links, at no cost to you.

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