For a long time, renters didn’t really have the option of paying rent with credit cards. Now that has changed with the arrival of the Bilt Mastercard®.
This credit card offers increased rewards earnings on dining and travel purchases, but what really sets it apart is the opportunity to earn rewards on your monthly rent payments.
If you’re a renter and want to earn rewards from rent, this card might be an option.
Quick Facts: Bilt Mastercard
- Rewards rate: 3x points on dining; 2x points on travel; 1x points on rent payments (up to 100,000 points in a calendar year); 1x points on other purchases (must use the card 5 times each statement period to earn points) (see terms)
- Welcome offer: None
- Annual fee: $0 (Rates & Fees)
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Overview of the Bilt Mastercard®
Earning credit card rewards is great, but some of us wish we could also put our rent on a credit card to earn even more.
Enter the Bilt Mastercard®, which offers you the opportunity to earn rewards on monthly rent payments. That’s one of the biggest expenses for a lot of us, so getting Bilt Points — without getting hit by the transaction fee that would negate any rewards — is an amazing benefit.
Even if your landlord accepts credit card payments, it’s typically with a fee of 2.5% to 3.5% tacked onto the rental price. Since credit card rewards often range from 1% to 5% of your spending, those fees effectively remove the benefit of paying with a card.
But as a Bilt cardholder, the transaction fee is waived.
Pros
- Earn points on your rental payments without paying a transaction fee
- Using BiltProtect allows you to pay rent without using your available credit by withdrawing the payment from a linked bank account
- No annual fee
Cons
- No welcome offer
- Use the card five times each statement period to earn points
- Rewards may not be as useful for non-renters
LEARN MORE: Bilt Mastercard®
Earning and Redeeming Bilt Rewards
Before applying for a Bilt Matercard®, know that you'll need to make at least five transactions each statement period to earn points with this card— otherwise, you won’t earn any reward points.
If you meet that minimum, all purchases have at least a 1-point-per-dollar earning potential. Rent earns you 1x points, up to a maximum of 100,000 points in the calendar year. Plus, on “Rent Day” (the first of each month), points on all purchases except rent are doubled (up to a maximum of 1,000 bonus points), which is a fun perk.
You can redeem points in many ways, including to purchase fitness classes or book travel. Plus, the Bilt Mastercard® allows you to put rewards toward next month’s rent or toward a down payment on a home.
Other Bilt Mastercard® Benefits
There are other perks and benefits available with the Bilt Mastercard®, like free shoe rentals for classes booked with points at SoulCycle, and Cellular Telephone Protection* when you pay your phone bill with the card.
Travel benefits in particular are excellent:
- Book travel with points through the Bilt travel portal
- World Elite Mastercard concierge service* to assist with unique travel experiences
- Transfer points at a 1:1 ratio to travel partners like British Airways, Marriott Bonvoy, and Hilton Honors
- Trip Cancellation and Interruption Protection*
- Trip Delay Reimbursement*
- Auto Rental Collision Damage Waiver*
What We Like About the Bilt Mastercard®
One big feature of the Bilt Mastercard® is that it’s truly unlike any other credit card out there. No other card lets you pay rent without incurring a transaction fee, and even using a third-party app like Plastiq means paying a fee.
This card caters to renters, which is excellent because your rent may be eating up a large percentage of your budget. You can earn points on rent and even redeem points for rent or a down payment
The BiltProtect program even means that you can have the funds pulled quickly from your linked bank account to pay off rent charges and avoid using too much of your credit line.
What We Don’t Like About the Bilt Mastercard®
The Bilt Mastercard® is a solid rewards card, as long you’re the target customer. But having to use the card five times each statement period may be a downside, especially if this isn’t your sole credit card.
Another big downside is the lack of a welcome bonus. Welcome offers are often worth hundreds of dollars, even with no annual fee. So it’s a bummer not to get anything with this card.
While the rewards are certainly valuable, if you’re not renting, there are other cards with great earning potential on dining and travel.
Who Should Get the Bilt Mastercard®?
The ideal customer for the Bilt Mastercard® is someone who wants to earn credit card rewards with their rental payments. With rent possibly being your highest recurring expense, earning 1x points on it is a huge deal.
You also might want to consider this card if you’re saving up to buy a house. Putting your rewards toward your down payment is one of the best ways to redeem Bilt Rewards points.
LEARN MORE: Bilt Mastercard®
Who Shouldn’t Get the Bilt Mastercard®?
It’s probably clear that you may not want the Bilt Mastercard® if you don’t rent property, since the biggest draw of this card is the unique chance to earn rewards on rent without incurring transaction fees.
While it’s an excellent card and Bilt Rewards are certainly valuable, if you’re not interested in things like fitness classes and redemptions toward a down payment, you might look elsewhere. Other rewards cards offer similar earning potential on travel and dining.
COMPARE: Best Rewards Credit Cards
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Alternatives to the Bilt Mastercard®
Chase Sapphire Preferred® Card
Rewards Rate
- 5x on travel purchased through Chase Travel℠
- 3x on dining, select streaming services and online groceries
- 2x on all other travel purchases
- 1x on all other purchases
Welcome Offer
Get up to $1,050 in Chase TravelSM value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
Annual Fee
$95
. . .
For comparable travel rewards and perks, the Chase Sapphire Preferred® Card is one of our favorite options.
Like the Bilt Mastercard®, you’ll earn increased rewards on dining and travel, get coverage for trip delay or cancellation, and can transfer your points 1:1 to several travel partners.
While you won’t get the rent benefits that you get with Bilt, the Sapphire Preferred does come with a generous welcome offer.
LEARN MORE: Chase Sapphire Preferred® Card
Capital One Venture Rewards Credit Card
Rewards Rate
- Earn 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
- 2x miles on all other purchases
Welcome Offer
Earn 75,000 miles when you spend $4,000 on purchases within 3 months from account opening
Annual Fee
$95
. . .
The Capital One Venture Rewards Credit Card is a great travel card for both beginners and experienced points collectors, since it has a low fee and lets you transfer points to several hotels and airlines at a 1:1 ratio.
For travel perks, it outshines the Bilt Mastercard® for lounge access (two complimentary passes per year) and a credit of up to $120 for TSA PreCheck® or Global Entry.
However, it does charge a fee and doesn’t have as robust travel insurance coverage.
LEARN MORE: Capital One Venture Rewards Credit Card
FAQs
Is it hard to get approved for Bilt?
Bilt doesn’t specify a minimum credit score, although it’s not branded as a card for those with poor or fair credit, so you likely need at least a “good” FICO score of 670 or higher.
Does paying your rent with Bilt build your credit?
Yes, anyone who uses Bilt to pay their rent can have their payments reported to the credit bureaus, but you must opt into that service.
Bottom Line: Is the Bilt Mastercard® Worth It?
If you’re a renter, the Bilt Mastercard® can help you earn rewards on your rent payments, while also helping you to boost your credit score by reporting your rent payments to the credit bureaus.
It also offers plenty of travel perks, although there are other travel credit cards out there that offer bigger and better benefits if you don’t mind paying an annual fee.
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Kate Underwood is a former French and English teacher who has been a full-time freelance finance writer since 2019. Her work has been featured with outlets such as Business Insider, Clever Girl Finance, and Money Crashers. Hiking and adventuring with her husband and two boys keeps her busy when she's not writing about all things money-related.
* Please review the Bilt World Elite Mastercard® Credit Card Guide to Benefits for details.
Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.