23. Bilt Rewards: Earning Points on Rent Payments

For millions of renters, the monthly housing payment is their single largest expense. It is also an expense that typically offers zero return on investment. Historically, paying rent with a credit card meant incurring a transaction fee of roughly 3%, which negated the value of any rewards earned. The Bilt Mastercard has gained massive popularity by solving this exact problem. It allows you to earn transferable travel points on rent without fees.

The Core Concept: How Bilt Works

The Bilt World Elite Mastercard, issued by Wells Fargo, is currently the only credit card that lets you pay rent with no transaction fees while earning points.

The process is surprisingly simple. When you open a Bilt account, the app provides you with a unique routing number and account number. You plug these numbers into your landlord’s online payment portal (like AppFolio or ResidentPortal) just as you would a standard checking account.

If your landlord is an individual who only accepts physical checks, you can still use the card. You initiate the payment in the Bilt app, and Bilt sends a physical check via USPS to your landlord on your behalf. The charge hits your credit card, you earn the points, and you pay off the card balance at the end of the month.

The Earning Structure

While the “no fee on rent” feature is the headline, the card is structured to be a primary wallet card for daily use. Here is the breakdown of the point earning rates:

  • 1x Points on Rent: You earn 1 point per dollar on rent payments, up to 100,000 points per calendar year.
  • 2x Points on Travel: This covers airlines, hotels, motels, resorts, cruise lines, and car rental agencies.
  • 3x Points on Dining: This includes restaurants, bars, and lounges.
  • 1x Points on All Other Purchases: General spend falls into this category.

The Critical “5 Transaction” Rule

There is one specific requirement users must meet to earn points. You must use your card five times in each statement period. If you pay your rent but fail to make four other small purchases (like a coffee or a subway ticket) during that cycle, you will earn a flat 250 points for the rent payment rather than the full 1x points.

This requirement ensures the card is being used actively rather than just sitting in a drawer solely for rent payments.

Rent Day: The First of the Month

Bilt has turned the first day of the month into a promotional event known as “Rent Day.” On the 1st of every month, point earnings are doubled for non-rent spend (capped at 10,000 bonus points).

  • Dining: Increases to 6x points.
  • Travel: Increases to 4x points.
  • General Spend: Increases to 2x points.

This makes the 1st of the month the ideal time to book flights, pay for large dinners, or make planned retail purchases. Additionally, the Bilt app hosts a trivia game show on Rent Day called “Point Quest,” where users can earn free points (usually up to 250) by answering questions correctly.

Transfer Partners: The Real Value

Earning points is only half the equation; redeeming them is where the value lies. Bilt Rewards is a transferable currency. This means you can move your points 1:1 to various airline and hotel loyalty programs.

Bilt is unique because it combines partners that usually do not overlap on other card lists. As of late 2024, valuable transfer partners include:

  • World of Hyatt: Widely considered the most valuable hotel points currency. 20,000 Bilt points can transfer to 20,000 Hyatt points, which might book a hotel room that costs $500 or more cash.
  • United MileagePlus: Bilt is one of the few major credit card partners for United Airlines besides Chase.
  • Alaska Airlines: A recently added partner that offers excellent value for flights on OneWorld partners.
  • Air Canada Aeroplan: excellent for booking international Star Alliance flights.
  • Flying Blue (Air France/KLM): Great for business class flights to Europe.

You can also redeem points through the Bilt travel portal at a rate of 1.25 cents per point, or use them for a down payment on a home, though the transfer partners typically offer a much higher return on investment.

Status Tiers and Lease Rewards

As you earn points, you climb status tiers. These tiers reset annually based on the calendar year.

  • Blue: The starting tier.
  • Silver: 50,000 points earned.
  • Gold: 125,000 points earned.
  • Platinum: 200,000 points earned.

Higher status grants you interest on your points balance (in the form of bonus points) and access to transfer bonuses. For example, during specific promotions, a Platinum member might get a 100% bonus when transferring points to a specific airline, whereas a Blue member might only get a 50% bonus.

Pros and Cons Summary

Pros

  • $0 Annual Fee: There is no cost to hold the card.
  • Only Way to Earn on Rent: It unlocks rewards on a massive expense category.
  • Primary Rental Car Insurance: The card offers primary collision damage waiver coverage, which is rare for a no-fee card.
  • Cell Phone Protection: If you pay your monthly phone bill with the card, you get protection against damage or theft (subject to a deductible).

Cons

  • No Sign-Up Bonus: Unlike most travel cards that offer 60,000+ points for signing up, Bilt rarely offers a traditional welcome bonus.
  • Hard Credit Pull: It is a credit card application, so it will impact your credit score temporarily.
  • Transaction Minimum: You must remember to swipe the card 5 times a month.

Frequently Asked Questions

Does Bilt charge the landlord a fee? No. If you pay via the ACH routing number, your landlord receives it exactly like a bank transfer. If you use the check option, they receive a standard check. They do not pay credit card processing fees.

Does using Bilt affect my credit utilization? Yes. However, Bilt offers a feature called “BiltProtect Debit.” If you turn this on, Bilt pulls the rent amount directly from your connected checking account within 48 hours, essentially acting like a debit card for the rent portion. This prevents your rent charge from using up your credit limit or showing a high utilization ratio to credit bureaus.

Is there a cap on how many points I can earn on rent? Yes. You can earn a maximum of 100,000 points on rent payments per calendar year. For most renters paying less than $8,333 per month, this cap will not be an issue.

Can I pay my mortgage with Bilt? No. Currently, the Bilt Mastercard is strictly designed for residential rent payments. It cannot be used for mortgage payments, commercial rent, or HOA fees.