Bilt Mastercard

In-Depth Review: Bilt Mastercard 

Earning rewards on expenses like rent usually requires a third-party website, which includes additional fees that can make the value of the points on offer less appealing. The Bilt Mastercard takes away the worry of extra fees and confusing workarounds by offering reward points on rent payments with no annual fee.

Who Can Benefit from the Bilt Mastercard?

The Bilt Mastercard caters to renters, travel enthusiasts, fee-averse travelers, points-savvy individuals, and those looking to build credit, making it a versatile option for a range of individuals with specific financial needs.

How to Apply for the Bilt Mastercard

Here is what you’ll need to apply for the Bilt Mastercard, issued by Wells Fargo:

Information Needed

• Name
• Address
• Email address
• Phone number
• SSN (for identification/verification purposes)
• Income
• Monthly housing expenses

Wells Fargo also allows non-citizens to apply for some of its credit card offerings. If you are not a US citizen but wish to apply for the Bilt Mastercard, you will need to provide your Individual Taxpayer Identification Number (ITIN).

Credit Needed

Wells Fargo credit cards are designed for applicants with good or excellent credit scores. Before applying for the Bilt Mastercard, make sure to check your credit health to see if you qualify.

Pay Rent at Any Apartment Complex

The Bilt Mastercard lets users pay their rent and earn 1X points in the process. The card operates with a vast array of properties owned by the Blackstone Group – the U. S’s largest real estate group. Cardholders earn 1X points on every $1 spent on rent through the Blackstone Group – up to $50,000 in spending each year. Keep in mind that the card offers points based upon their Bilt tier status (see below).

But what happens if Blackstone doesn’t own your apartment? Don’t worry! The Bilt credit card will help you earn 1X points on rent no matter who your landlord is. If your apartment doesn’t accept credit cards or you rent outside the Bilt Rewards Alliance of landlords, simply make your payment through Bilt’s mobile app, and the company will mail a physical check to your landlord. This process ensures your rent is paid in a streamlined manner while still earning double rewards points.

The Bilt Alliance typically charges a transaction fee of 3% for rent payments made through the mobile app. Fortunately, this fee is waived for Bilt Mastercard cardholders – adding even more value for no annual fee.

Special Lyft Benefit

Bilt also provides a special bonus category, just for Bilt members. Bilt Mastercard members who link their Bilt account to Lyft, and select Bilt as the primary rewards partner with Lyft, earn 5X points per $1 sent on purchases with the rideshare company.

That 5X on Lyft rides is in addition to the Lyft statement credit the card provides. Cardholders earn a $5 Lyft statement credit each month they use the Bilt Mastercard to pay for Lyft rides. Just make sure you’re using the latest version of the app to ensure your rewards are counted.

Earn On Other Purchases

The Bilt Mastercard also earns impressive points on other everyday purchases. The card earns 3X points on dining purchases, including takeout and delivery services. The card also earns double points (2X per $1 spent) on travel purchases booked directly with an airline, hotel, car rental or cruise line. To earn rewards the cardholder must make at least five purchases with the card each month – a fairly simple task.

Special Bonus Savings on Rent

Bilt is also providing a limited-time bonus for new accounts. New cardholders earn 3X points on their first rent payment, with a limit of 10,000 points.

How to Redeem Points

There are an impressive assortment of redemption options through the Bilt Rewards program. Cardholders can trade in their points through several airline and hotel loyalty programs, including:

• AAdvantage
• World of Hyatt
• IHG Rewards
• Marriott Bonvoy
• Emirates Skywards
• Flying Blue
• Aeroplan
• Virgin Points
• Aer Lingus
• British Airways
• Iberia
• HawaiianMiles
• Cathay Pacific
• United MileagePlus
• Turkish Miles&Smiles
• Alaska Mileage Plan

Bilt points transfer at a 1:1 ratio for those transfer partners, meaning cardholders enjoy exceptional value with the Bilt credit card – on par with some of the best travel cards. Bilt members can also use the popular award search tool and deals aggregator, Point.me, to search for award availability for Bilt partners.

Cardholders can also use their points to cover rent payments through Bilt, or towards a future down payment. Bilt is hailing the card as the first credit card that actually allows users to use their rewards points towards a down payment on a home.

Other Bilt Rewards Redemption Options

Other options for point redemptions include:

• Membership and classes through Soul Cycle, Y7 Studio, or Rumble
• Art, home décor, and apparel through the Bilt Collection
• Statement credits

Bilt Rewards Tiers and Benefits

Bilt Rewards comes in four distinct tiers, each of which earns different reward points on rental payments:

Blue Tier

As the base tier, Blue offers cardholders several benefits, including:

• 1:1 point transfers with partners
• Access to the Bilt collection
• And more

Silver Tier

Cardholders reach the Silver tier after earning 25,000 points. In addition to the benefits of the Blue tier, Silver tier cardholders enjoy:

• 10% bonus points on points from new leases and renewals
• Interest earned on points

Gold Tier

Cardholders reach the Gold tier after earning 50,000 points. In addition to the benefits of the Silver tier, Gold tier cardholders enjoy:

• 25% bonus points on points from new leases and renewals
• Homeownership concierge services
• Interest earned on points

Platinum Tier

Cardholders reach the Platinum tier after earning 100,000 points. In addition to the benefits of the Gold tier, Platinum tier cardholders enjoy:

• 50% bonus points on points from new leases and renewals
• Homeownership concierge services
• Interest earned on points
• A complimentary gift from the Bilt collection

Why Pay Your Rent with a Credit Card?

What benefit does an individual get from paying their rent with a credit card? Because they pay through their Bilt Mastercard, users can build their credit twice as fast as normal. In addition, because Bilt reports monthly to the major credit bureaus (Experian, Equifax, and TransUnion), cardholders can raise their credit score simply by paying their rent.

And because landlords can report on-time rental payments to credit bureaus, cardholders can have their on-time rental payments count twice towards their credit score. Simply ask your landlord to report your rental payments to the credit bureaus through services like RentReporters, LevelCredit, or others.

Bilt Wallet

Bilt Wallet is a digital wallet that lives within the Bilt Rewards app. The wallet accepts credit cards from the four main payment networks: American Express, Discover, Mastercard, and Visa. The wallet feature lets members add multiple credit cards, allowing greater flexibility in earning rewards.

Bilt Dining

Dining programs are a popular feature of many airlines’ frequent flyer programs. These programs allow members to earn additional airline miles with select restaurants – just for using a linked credit card. Bilt also offers a dining portal, known as “Bilt Dining.”

What Is Bilt Dining?

Bilt Dining is the latest addition to the Bilt Rewards program. Like other dining programs, Bilt Dining allows Bilt Rewards members to earn points on select dining purchases – regardless of the credit card used to pay. Bilt Dining was made possible by adding a Bilt Wallet to the company’s mobile app.

How to Use Bilt Dining

Using Bilt Dining is simple. The program lives within the Bilt mobile app interface under the “Dining” tab. There, you’ll find a list of eligible restaurants, currently limited to Atlanta, Boston, Chicago, Dallas, and New York City, although Bilt plans to continuously add new locations. You can sort results by Bilt’s top picks or filter by location, cuisine type, and price range.

Bilt cardholders earn 3X points on dining, plus double the points on the first of each month – known as “Rent Day.” Bilt members earn 5X points per $1 spent with select dining partners. That earning rate jumps as high as 11X points per $1 spent when you combine “Rent Day” and the Bilt Mastercard.

Here’s a breakdown of the math:

• Eating at an eligible Bilt Dining restaurant: 5X per $1
• Paying with the Bilt Mastercard: 3X per $1
• “Rent Day” bonus: Additional 2X on all purchases

Total: 11X per $1 spent

It’s worth noting that Bilt does not double the 5X points members earn through the dining portal. Bilt only doubles the 3X Bilt Mastercard holders earn.

Rewards earned through the Dining program are credited to the Bilt Rewards account around seven days after dining. Additionally, delivery services like Uber Eats or GrubHub are ineligible for the 5X rewards per $1 spent.

Other Card Features

Other notable features of the Bilt credit card include:

• $60 in Lyft statement credits each year
• $120 in DoorDash statement credits each year
• Cell phone protection of up to $1000 per year if your phone is lost or damaged

Bilt Mastercard members also enjoy Mastercard World Elite benefits, including:

• Zero Liability Protection
• Airport Concierge
• Cell Phone Protection
• Mastercard Global Services
• Priceless Experiences
• Lyft Credits
• ID Theft Protection
• Priceless Golf
• Mastercard Travel Services
• Mastercard Hotel Stay Guarantee
• ShopRunner Membership
• Hello Fresh Savings

Card Comparison

Citi Custom Cash℠ Card

While the Bilt Card is unique, it isn’t without big-time competitors, like the Citi Custom Cash℠ Card. This no annual fee card from Citibank earns 5% back on eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter, plus 1% on all other purchases. And with categories including things like gas, transit, travel, and dining, there’s certain to be a bonus category to fit your needs.

Capital One Savor Cash Rewards Card

The Capital One® Savor® Cash Rewards Credit Card is another competitive offering that provides accelerated rewards – but suffers from a $95 annual fee. The Savor Card earns 4% back on dining, entertainment, and popular streaming services, 3% on groceries, and 1% on everything else. Like Bilt, the Savor comes with a monthly credit – $10 for Postmates – which is slightly better vale than the $5 Lyft credit with Bilt.

Rocket Visa Signature

Perhaps the only analogue of Bilt when it comes to its primary purpose (a rent credit card you can use to save towards a future mortgage) is the Rocket Visa Signature® Card. This $95 annual fee card issued through Deserve provides variable rewards based on how you plan to redeem your rewards:

• Get up to 5% cash back toward a new home
• Get 2% cash back toward your mortgage balance
• Get a statement credit equivalent to 1.25% cash back

This unique rewards platform is ideal for anyone who currently has a Rocket mortgage, or is looking for a new home and plans to sue the service. Otherwise, however, the redemption value is fairly low.

Does Bilt Make Paying Rent Easier?

If Blackstone does not manage your apartment, you might wonder if you can still use Bilt to pay your rent. The good news is that you can! With Bilt, you can pay rent to any landlord, even if they don’t accept credit cards or are not part of the Bilt Rewards Alliance.

Here’s how it works: make your payment through Bilt’s mobile app, and the company will mail a physical check to your landlord. This streamlined process ensures that your rent is paid on time while still allowing you to earn double rewards points.

To take advantage of this convenient option, all you need to do is pay your rent through the Bilt mobile app. Doing so can earn a single rewards point for every $1 spent on rent, up to 50,000 annual points. Plus, paying through the app means you won’t worry about transaction fees. Unlike the Bilt Alliance, which typically charges a 3% transaction fee for rent payments made through the mobile app, Bilt provides this value without any annual fees.

Let’s compare paying the rent with Bilt to paying the rent with a traditional credit card. Here’s the rent payment process without Bilt:

• Ask your landlord if they accept credit card payments. Some landlords may be hesitant to accept credit cards, and others may require approval through third-party payment platforms.
•  Sign up for a third-party payment platform like Venmo, Pay, ClickPay, Cozy. Remember that some of these platforms may require landlord approval before making rent payments. RadPad is the only service that doesn’t require this step.
• Pay your rent with a credit card through the third-party platform. This allows you to pay off your rent over time and earn rewards points.

As you can see, paying your rent with Bilt could potentially offer you a more convenient and rewarding experience.

Tips Maximizing Rewards with Bilt

To get the most value out of your Bilt Mastercard, here are some helpful tips:

• Pay your rent through the Bilt app to earn additional points and your regular credit card rewards.
• Take advantage of the flexibility in reward options by choosing rewards that align with your spending habits and preferences.
• Keep track of your expenses through the Bilt app to ensure you stay within your budget and make informed financial decisions.
• Get to know the additional perks offered by the card, like purchase protection and travel insurance, to fully utilize the impressive benefits on offer.

What We Like About Bilt

The Bilt Mastercard offers numerous benefits that make it an appealing choice for many individuals.

Rewards Program

One major advantage of this credit card is its rewards program. With the Bilt Mastercard, you can earn points on every purchase. The Bilt Rewards program allows you to earn additional points on important bonus categories and when you pay your rent through the Bilt app. This unique feature is especially advantageous for individuals who rent their homes. By simply paying your rent through the app, you can accumulate points that can be redeemed for various rewards, including travel miles, cash back, or gift cards. The flexibility of the reward options enables you to choose rewards that align with your preferences and lifestyle.

Additional Benefits

The Bilt Card also offers a range of additional perks, including purchase protection, extended warranty, no foreign transaction fees, and travel insurance. These features provide peace of mind by protecting your purchases and offering coverage in unforeseen circumstances. These added benefits can save you money and provide security when using your card abroad.

Things to Consider

While the Bilt Mastercard offers many benefits, it’s also important to consider all aspects of the card. The card may not be suitable for individuals who do not rent their homes. The integration with the Bilt Rewards program, which offers additional points for rent payments, may not be relevant if you are a homeowner or planning to buy a new property soon.

Wells Fargo Ratings

How does Wells Fargo rank as a credit card issuer? Here is a selection of reviews for the bank from consumers and financial experts:

Should You Apply for the Bilt Mastercard?

The Bilt Mastercard offers plenty to get excited about for those that rent and want to earn impressive rewards when making their monthly payment. Of course, the card also offers up to 3X points on non-rent purchases, making it a great option for travelers that want to enjoy savings off Bilt rent or down payments on eligible properties in the Bilt portfolio.

The rewards points are less exciting for the basic tiers, and users may find better value through third-party payment services such as GoCardless, Thryv, or others. For landlords that do not accept mobile payments, however, the Bilt Card is still an exceptional offer, thanks to the chance to earn points and mail a physical check at the same time.

Overall, the Bilt credit card offers plenty of value for no annual fee. Interested in earning rewards and building your credit with rent payments? The Bilt Mastercard might just be your next credit card.