When it comes to travel credit cards, choosing the right one can be a daunting task. With so many options available, finding one that truly maximizes your benefits while minimizing fees is essential. Enter the Bilt Mastercard®, a unique offering that has gained considerable popularity among travelers. This card not only allows you to earn points on everyday purchases but also lets you earn points on your rent payments—something no other card offers. In this article, we will explore everything you need to know about the Bilt card, including its perks, how to maximize its features, and answers to frequently asked questions.
What is the Bilt credit card?
The Bilt Mastercard is a travel rewards credit card designed for renters. It allows cardholders to earn points on rent payments—up to 100,000 Bilt Points each calendar year—without any associated fees. This unique feature makes it a highly attractive option for those who rent, especially in high-cost areas like New York City or San Francisco.
Unlike many other credit cards, the Bilt card has no annual fee, making it accessible for a wide array of consumers. The card is particularly beneficial for individuals who frequently dine out, travel, or use ride-sharing services, as it offers competitive rewards rates in these categories.
Understanding Bilt Rewards
Bilt Rewards is the loyalty program associated with the Bilt Mastercard. Cardholders can earn points through daily spending and specific promotions. Here’s how you can maximize your points:
- 3x points on dining: Enjoy your meals while earning rewards.
- 2x points on travel: Book flights, hotels, or rental cars and earn points.
- 5x points on Lyft rides: When you link your Bilt account, you can earn extra points for every ride.
- Double points on Rent Day: On the first of each month, you can double your points in most categories.
- Referral bonuses: Earn 2,500 points for each successful referral, with additional bonuses for multiple referrals.
This accumulation of points can be a game changer for anyone looking to travel more affordably.
How does the Bilt card work for rent payments?
Using the Bilt Mastercard to pay your rent is a straightforward process. First, you need to set up a Bilt Rent Account through Wells Fargo. This account is essentially a «dummy» account that enables you to process rent payments without incurring credit card fees. You won’t use this account for regular banking transactions.
Once your account is set up, you can make your rent payments through various platforms such as Venmo, PayPal, or even through your landlord’s payment portal. If your landlord only accepts checks, the Bilt Rewards app can send a check on your behalf, allowing you to still earn points without hassle.
Are there transaction fees for using Bilt?
No, there are no transaction fees when using the Bilt Mastercard to pay rent. The Bilt Rent Account setup ensures that payments are treated as bank transactions rather than credit card payments, which shields you from any additional charges commonly associated with credit card use.
Annual fees and other charges
One of the most appealing features of the Bilt card is the absence of an annual fee. Many travel credit cards come with hefty fees, cutting into your rewards potential. Bilt’s no-annual-fee policy provides an excellent opportunity for those looking to maximize their benefits without worrying about ongoing costs.
Best transfer partners for Bilt Rewards
Bilt points can be transferred to a variety of travel partners, allowing for flexibility and choice in redeeming rewards. Here are some notable transfer partners:
- Alaska Airlines
- AerClub (Aer Lingus)
- Aeroplan (Air Canada)
- British Airways
- Cathay Pacific
- Emirates
- Virgin Atlantic
- World of Hyatt®
By leveraging these partnerships, you can find valuable redemption options for flights and hotel stays, enhancing your travel experience.
What is Rent Day?
Rent Day is an event held on the first day of each month when Bilt offers double points on most spending categories. On this day, you can earn:
- 6x points on dining
- 4x points on travel
- 2x points on other purchases (excluding rent)
This is a perfect time to make significant purchases or even dine out at your favorite restaurant to maximize your rewards.
Can Bilt be used for mortgage payments?
Currently, the Bilt Mastercard is designed for renters, so unfortunately, mortgage payments do not qualify for rewards. However, homeowners might still benefit from the card’s other features, including travel rewards and no annual fees, making it worth keeping in their wallets.
What credit score is required for the Bilt card?
To apply for the Bilt Mastercard, a credit score in the good to excellent range (typically between 670 and 850) is recommended. However, your overall credit history is also taken into account during the evaluation process.
How do I apply for a Bilt credit card?
Applying for a Bilt Mastercard is a straightforward process. You can complete the application online, and most applicants receive a decision within minutes. Keep in mind that a hard inquiry will be made on your credit report, which may cause a slight temporary dip in your score.
Is it necessary to have the Bilt card to earn rewards?
If you reside in a Bilt Alliance property, you can earn points on rent payments without the Bilt Mastercard. However, owning the card unlocks additional benefits and earning potential, making it a wise choice for renters and frequent travelers alike.
Is Bilt worth the investment?
In short, yes! The Bilt Mastercard presents an excellent opportunity for those who rent and travel. With no annual fees, the ability to earn points on rent payments, and a variety of transfer partners, it stands out as a valuable asset in anyone’s wallet. Don’t miss out on the chance to earn rewards simply by paying for your rent.
