For millions of renters in the U.S., rent is the largest monthly expense. Yet, traditional credit cards rarely offer rewards on rent payments without incurring fees.
The Bilt Mastercard®, issued by Wells Fargo, revolutionizes this by allowing renters to earn points on rent payments, all without charging transaction fees to landlords.
APPLY NOW
Bilt Mastercard®
Designed to benefit renters and maximize rewards, the Bilt Mastercard® also delivers valuable benefits like flexible point redemption, travel perks, and no annual fee.
This article explores everything you need to know about the Bilt Mastercard®, including its key features, advantages, limitations, and how it compares to other rewards cards.
Table of Contents
What is the Bilt Mastercard®?
The Bilt Mastercard® is a no-annual-fee rewards card that allows you to earn points on rent payments alongside dining, travel, and everyday purchases.
Rent payments are made through the Bilt Rewards app, which seamlessly processes payments without passing transaction fees to your landlord.
Points earned can be redeemed for a variety of rewards, including travel and rent credits, or saved for long-term goals like a future home down payment or other lifestyle benefits.
The card also offers World Elite Mastercard® benefits, enhancing its value with perks like purchase protection, travel insurance, and exclusive experiences.
Key Features of the Bilt Mastercard®
Earn Points on Rent Payments
- Earn 1 point per dollar spent on rent, up to 100,000 points annually.
- No transaction fees are charged to landlords, a significant advantage over other cards.
Bonus Categories
- 3x points on dining purchases.
- 2x points on travel purchases, including flights, hotels, and transportation.
- 1x point on all other purchases.
Flexible Redemption Options
Points earned with the Bilt Mastercard® are versatile and can be used across several categories:
- Travel: Redeem for flights and hotels or transfer to loyalty programs like American Airlines AAdvantage® or World of Hyatt®.
- Rent Credits: Apply points directly to your rent payments.
- Long-Term Savings: Use points toward a home down payment or other significant financial goals.
- Lifestyle Perks: Enjoy fitness classes or other curated rewards.
No Annual Fee
- Unlike many rewards cards, the Bilt Mastercard® has no annual fee, allowing you to maximize rewards without extra costs.
Build Credit with Rent Payments
- Rent payments made with the card are reported to major credit bureaus, helping to improve your credit score with consistent, on-time payments.
World Elite Mastercard® Benefits
- Enjoy perks like cell phone protection, purchase security, extended warranties, and access to Priceless® experiences.
Benefits of the Bilt Mastercard®
Rewards on Rent Payments Without Fees
For renters, the Bilt Mastercard® offers an unparalleled opportunity to earn rewards on rent—a significant monthly expense—without incurring transaction fees that landlords dislike.
Flexible Redemption Options
Points earned with this card are versatile and valuable. Whether you want to travel, cover rent, or invest in a future home, Bilt Rewards ensures your points go a long way.
No Annual Fee
This card delivers premium benefits without charging an annual fee, making it accessible to a wide range of users.
Travel Benefits
The Bilt Mastercard® shines in its travel perks, offering transfer options to leading airline and hotel loyalty programs, travel insurance, and no foreign transaction fees.
Credit Building Opportunity
By reporting on-time rent payments to credit bureaus, this card helps renters build or strengthen their credit profile.
Enhanced Protection
As a World Elite Mastercard®, it provides valuable protections, including cell phone insurance (up to $800 per claim), extended warranties, and fraud liability coverage.
Drawbacks of the Bilt Mastercard®
While the Bilt Mastercard® has numerous benefits, it’s not without limitations:
Rewards Cap on Rent Payments
Rent rewards are capped at 100,000 points annually, which may limit earning potential for high-value renters.
Limited Availability for Rent Payments
To earn rewards on rent, your landlord must accept payments via the Bilt Rewards app or through the Bilt network. This may not work for all renters.
No Welcome Bonus
Unlike many credit cards, the Bilt Mastercard® doesn’t offer a sign-up bonus, which could be a downside for those looking for an initial rewards boost.
High Interest Rates
Carrying a balance on this card can lead to high interest charges, so it’s best suited for users who pay off their balances in full each month.
Who Should Get the Bilt Mastercard®?
The Bilt Mastercard® is ideal for:
- Renters Seeking Rewards: If you pay rent and want to earn points on your biggest expense, this card is unmatched.
- Travel Enthusiasts: With valuable transfer partners and travel benefits, it’s a great fit for frequent travelers.
- Credit Builders: If you’re looking to build or improve your credit, reporting rent payments can significantly impact your score.
- Budget-Conscious Individuals: The absence of an annual fee makes it an excellent option for those who want rewards without extra costs.
How to Apply for the Bilt Mastercard®
Getting the Bilt Mastercard® is a straightforward process. Follow these steps to apply and start earning rewards:
- Check Eligibility
Ensure you meet the basic requirements:- Must be at least 18 years old.
- Have a valid Social Security number or ITIN.
- A good to excellent credit score is recommended (typically 670 or higher).
- Visit the Bilt Rewards Website
Go to the official Bilt Rewards website or the Wells Fargo credit card page to begin your application. - Complete the Application Form
Fill out the application with your personal details, including your name, address, income, and rent payment information. - Submit the Application
Double-check all information for accuracy and submit your application. You’ll typically receive a decision within minutes, but in some cases, it may take a few days. - Set Up Your Bilt Rewards Account
Once approved, download the Bilt Rewards app to link your card and manage your points, track transactions, and set up rent payments. - Start Earning Rewards
Use your card for rent, dining, travel, and everyday purchases to maximize your rewards potential.
You will be redirected to the bank’s website.
Tips for a Smooth Application Process
- Check Your Credit Score First: Make sure your credit score meets the recommended range to increase your approval chances.
- Have Your Landlord’s Payment Details Ready: Ensure you know how to pay your rent through the Bilt Rewards app.
- Monitor Your Application Status: If not approved instantly, you can track your application status online.
Once your card arrives, activate it, link it to your Bilt Rewards account, and start making the most of your rent payments and other expenses!
How to Maximize the Bilt Mastercard®
Pay Rent Monthly
Use the Bilt Rewards app to pay your rent each month, ensuring you earn 1x points without fees.
Take Advantage of Bonus Categories
Maximize rewards by using the card for dining (3x points) and travel (2x points) purchases.
Transfer Points for Travel
Get the best value by transferring points to airline and hotel loyalty programs for flights and stays.
Redeem for Rent or Future Home Purchases
Save points for rent credits or a down payment on a home to turn your spending into long-term benefits.
Pay Your Balance in Full
Avoid interest charges by paying off your statement balance each month.
Recommended Content
Wells Fargo Active Cash® Card – How to request
How Does the Bilt Mastercard® Compare to Other Cards?
Bilt Mastercard® vs. Chase Sapphire Preferred®
- The Chase Sapphire Preferred® offers a sign-up bonus and higher points value for travel redemptions but has a $95 annual fee.
- The Bilt Mastercard® excels with rent rewards and no annual fee.
Bilt Mastercard® vs. Citi® Double Cash Card
- The Citi Double Cash Card provides 2% cashback on all purchases but doesn’t offer rent rewards or transfer partners.
- The Bilt Mastercard® is a better fit for renters and travelers.
FAQ
How do I earn points on rent payments?
You can pay rent through the Bilt Rewards app using your Bilt Mastercard®. Points are earned without charging your landlord transaction fees.
Can I use the card for other purchases?
Yes, you earn 3x points on dining, 2x points on travel, and 1x point on other purchases.
Does it report rent payments to credit bureaus?
Yes, on-time rent payments are reported to major credit bureaus, helping to build your credit profile.
Are there any fees?
There is no annual fee, and rent payments through the app incur no additional fees.
What can I redeem my points for?
You can redeem your points for a variety of rewards, including travel through loyalty programs or direct bookings, rent credits to reduce monthly expenses, savings toward a future home, and lifestyle benefits such as fitness classes.
Read more: The Wells Fargo Active Cash Card: A Comprehensive Guide