Bilt Mastercard

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Last updated on March 30th, 2022

Bilt Mastercard

Bilt Mastercard
  • Regular Purchase APR 17.74%, 20.74%, or 25.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 17.74%, 20.74%, or 25.74% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 25.49% variable based on the Prime Rate
  • Annual Fee None
  • Credit uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.
    Excellent , Good
  • Processing Network Mastercard
Best Benefits
  • No annual fee
  • No foreign transaction fees
  • Earn 1X points on rent payments (up to 50,000 points each calendar year)
  • Earn 2X points on travel
  • Earn 3X points on dining
Rates & Fees
  • Regular Purchase APR: 17.74%, 20.74%, or 25.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 17.74%, 20.74%, or 25.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Up to 5% for each balance transfer, with a minimum of $5
  • Cash Advance APR: 25.49% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40
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At a Glance  

The Bilt World Elite Mastercard is a unique rewards credit card  from Wells Fargo that lets users earn 1X on monthly rent payments, 3X on travel, 2X on dining, and offers impressive perks including Lyft and DoorDash statement credits – all for no annual fee.

Ideal for Those Who:

  • Rent and want to earn rewards on their monthly rental payments
  • Are a member of Bilt Rewards
  • Don’t want to pay an annual fee

Bilt Mastercard Review

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.

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 Mastercard 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.

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.

Bilt Rewards Tiers

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

  • Blue Tier: Base tier, with cardholders enjoying 1:! point transfers with partners, access to the Bilt collection, and more.
  • Silver Tier: Reached after earning 25,000 points. Cardholders enjoy 10% Bonus points on points from new leases and renewals and interest earned on points.
  • Gold Tier: Reached after earning 50,000 points. Cardholders enjoy 25% Bonus points on points from new leases and renewals, homeownership concierge, and interest earned on points.
  • Platinum Tier: Reached after earning 100,000 points. Cardholders enjoy 50% Bonus points on points from new leases and renewals, homeownership concierge, and interest earned on points. Platinum tier also receives 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.

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
  • Air Canada Aeroplan
  • Emirates Skywards
  • Flying Blue (Air France/ KLM)
  • Virgin Points

Bilt points transfer at a 1:1 ration for those transfer partners, meaning cardholders enjoy exceptional value with the Bilt Mastercard – on par with some of the best travel cards.

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 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

Other Card Features

Other notable features of the Bilt Mastercard 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
  • Mastercard purchase protection and Zero Fraud Liability coverage
  • World Elite Concierge access
  • Mastercard Luxury Hotel Collection access

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 Mastercard 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.

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