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The Bilt Mastercard Review: Earn Rewards on Paying Rent

The Bilt Mastercard Review: Earn Rewards on Paying Rent

The Bilt Mastercard® might just be the most rewarding $0-annual-fee credit card on the market for anyone who pays rent.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more. Citi is an advertising partner.

Quick facts

Rates & fees

  • Sign-up bonus: None
  • Earning rate: 1X point on rent payments without the transaction fee, up to 50,000 points each calendar year; 2X points on travel, 3X points on dining, 1X points on all other purchases.
  • Annual fee: $0
  • Foreign currency conversion fee: $0
  • Other benefits: Variety of useful redemption options including rent payment and transfer to travel partners, travel and purchase insurance, cellphone protection

Quick facts

  • Sign-up bonus: None
  • Earning rate: 1X point on rent payments without the transaction fee, up to 50,000 points each calendar year; 2X points on travel, 3X points on dining, 1X points on all other purchases.
  • Annual fee: $0
  • Foreign currency conversion fee: $0
  • Other benefits: Variety of useful redemption options including rent payment and transfer to travel partners, travel and purchase insurance, cellphone protection

Rates & fees

  • Intro Purchase APR: None
  • Regular Purchase APR: 18.49%, 21.49%, or 26.49% variable
  • Intro BT APR: None
  • Regular BT APR: 18.49%, 21.49%, or 26.49% variable
  • Annual Fee: $0
  • Foreign Transaction Fee: $0
  • Balance Transfer Fee: 5% for each balance transfer, with a minimum of $5

Pros

  • Earn rewards on your rental payments
  • $0 annual fee
  • Waives the transaction fee when you use your card to pay rent
  • Flexible redemption options, including travel
  • $0 foreign currency conversion fees
  • Cellphone protection
  • Travel and purchase protections
  • Lyft and Doordash credits

Cons

  • No sign-up bonus
  • Must make at least five card transactions per statement period to earn rewards
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Is The Bilt Mastercard® worth it?

The Bilt Mastercard® can be worth it for those hoping to earn valuable rewards on dining, travel and rent payments all for $0 annual fee. The Bilt Mastercard® is a unique card that allows you to earn rewards on your rent payments, without incurring costly transaction fees — even if your property isn't a member of the Bilt alliance. The points that you earn are very flexible: You can apply them toward travel (including transfer to major travel partners like American Airlines, United and Hyatt), toward rent down payments and more.

This card also grants you benefits, including:

  • Travel and purchase protections
  • Lyft and Doordash credits
  • Cellphone protection

Sign-up bonus

The Bilt Mastercard® doesn't come with a sign-up bonus, but its perks and earning rates are beneficial enough to make up for it. If you're looking for a lucrative sign-up bonus, however, and you're willing to pay an annual fee, there are plenty of other great cards that earn rewards on everyday spending.

Earning rate

The Bilt Mastercard® offers a fantastic earning rate, especially since it doesn’t charge an annual fee. Cardholders can earn:

1X point on rent payments without the transaction fee, up to 50,000 points each calendar year; 2X points on travel, 3X points on dining, 1X points on all other purchases.

Not only can you earn points in everyday spending categories, but when you use your card to pay your rent, the credit card transaction fee is automatically waived. Best of all, you'll still be able to pay rent using your card even if your property only accepts checks. Just submit your monthly payment through the Bilt Rewards app and a check will be sent to your property on your behalf.

The only drawback is that you'll need to make at least five transactions on your card each statement period in order to earn rewards on any of your spending. Luckily, you'll earn rewards every time you eat out or book a trip.

Redeeming rewards

The Bilt Mastercard® has a variety of unique and valuable redemption options:

  • Travel. Bilt cardholders can transfer points 1:1 for travel on any of Bilt's hotel and airline travel partners, with 100-plus options to choose from. Some of these include American Airlines, United, World of Hyatt and more.
  • Rent and down payment. You can put your Bilt points towards your next rent payment or save up your points to put towards a down payment for a house. While several other rewards programs allow you to use your points for travel, Bilt touts this as the first rewards program that allows users to put their points toward homeownership.
  • Fitness. Redeem your points for popular fitness classes starting at 1,600 points per class. Options include SoulCycle, solidcore and more.
  • The Bilt Collection. You can redeem points for Bilt's specially curated collection of art, decor and apparel inspired by monthly rotating artists.

Travel, purchase, and cellphone protections

For a no-annual-fee credit card, or any credit card really, the Bilt Mastercard® comes with exceptional protections across the board. Cardholders can enjoy the following amenities:

You can get up to a $5,000 reimbursement when you use your card to book a nonrefundable trip that is canceled or interrupted for a covered reason.

If your trip is delayed more than six hours for reasons such as inclement weather, mechanical issues or air traffic control delays, you can be reimbursed for expenses incurred.

Cardholders can receive primary car rental insurance coverage against damages due to collision or theft when you pay for the entire rental using your Bilt Mastercard®.

Get up to $800 in cellphone protection (with a $25 deductible) when you pay your monthly bill with your card. This protects your phone against covered damages and theft.

You can be covered for up to $10,000 per claim for theft and damage for up to 90 days from the date of purchase when you use your Bilt Mastercard®.

Ability to earn Bilt status

Depending on the number of overall points you earn annually, you can earn different tiers of Bilt Rewards program status. Bilt status can be extremely valuable for those looking to earn bonus points on participating properties' lease incentives, interest on points earned, access to a Homeownership Concierge and more.

Here's what you'll get with each tier:
Blue

Starting tier

  • 1:1 point transfers with airlines and hotels
  • Access to the Bilt Collection
  • Build credit history by reporting on-time rent payments to credit bureaus
Silver

25,000 points per year

Previous tier's benefits, plus:
  • 10% bonus on lease incentive points from participating properties
  • Interest earned on points
Gold

50,000 points per year

Previous tier's benefits, plus:
  • 25% bonus on lease incentive points from participating properties
  • Homeownership Concierge
Platinum

100,000 points per year

Previous tier's benefits, plus:
  • 50% bonus on lease incentive points from participating properties
  • Exclusive gift from The Bilt Collection

Other Bilt Mastercard® benefits

Cardholders can enjoy the perks of World Elite Mastercard Concierge for help booking dinner and hotel reservations, last minute gifts and more.

When you use your Bilt Mastercard® abroad, you won't have to pay a foreign transaction fee for purchases converted to U.S. dollars. This can end up saving you a significant amount when traveling internationally.

Bilt Mastercard® holders will receive a $5 Lyft credit when you take three rides in a calendar month. You'll also get a free three-month DashPass membership, a subscription that grants you $0 deliveries on DoorDash orders above $12. Both new and existing members will receive $5 off their first order every month.

Drawbacks

  • No sign-up bonus. Compared to other no-annual-fee credit cards, one major drawback to the Bilt Mastercard® is that it doesn't include any type of sign-up bonus. However, this card offers many longer-lasting benefits to make up for that.
  • Must make at least five card transactions per statement period to earn rewards. This means you'll have to use this card relatively frequently in order to reap its most valuable benefits. However, a card transaction could be anything from a pack of gum to an international flight, so you still have plenty of flexibility when it comes to how you choose to use your card.

Alternatives to The Bilt Mastercard®

While the Bilt Mastercard® can certainly be a worthwhile option for consumers looking to earn and save on their rent payments, there are lots of other great cards for everyday use that are worth considering. Here are a few of the best alternatives.

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See Rates & Fees. Terms Apply. On American Express' Secure Website

The Bilt Mastercard® vs. Chase Freedom Unlimited®

On Chase's Secure Website

Verdict: High rewards rate on everyday purchases with a generous sign-up bonus and $0 annual fee.

The Chase Freedom Unlimited® is an excellent $0-annual-fee credit card that offers both a valuable sign-up bonus and impressive rewards on everyday purchases. The spending categories offered by this card largely overlap with the Bilt Mastercard®, but the Chase Freedom Unlimited® offers a higher rate of return:

  • Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.

The card also comes with travel and purchase protections that are comparable to the Bilt Mastercard®’s, making it a strong contender for those who aren't concerned about earning points on rent payments.

The Bilt Mastercard® vs. Citi® Double Cash Card – 18 month BT offer

On Citibank's Secure Website

Verdict: Earn 2% cash back on every purchase

The Citi® Double Cash Card – 18 month BT offer allows consumers to earn a high flat rate across all purchases: Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. While cardholders won't be able to maximize their earnings through bonus categories, it's a great option for those looking for a simple and rewarding way to earn on every purchase.

This card doesn't charge an annual fee and also includes a low intro APR period on balance transfers, which can be helpful for those looking to pay down debt. Unlike the Bilt Mastercard®, the Citi® Double Cash Card – 18 month BT offer earns cash back rather than points, which can be a more straightforward — and possibly more lucrative — option for those who prefer simpler rewards.

The Bilt Mastercard® vs. Blue Cash Everyday® Card from American Express

See Rates & Fees. Terms Apply. On American Express' Secure Website

Verdict: Strong welcome offer and top rewards in useful spending categories.

The Blue Cash Everyday® Card from American Express is a worthy competitor for the Bilt Mastercard®. With $0 annual fee, a low intro offer on purchases and a valuable earning rate in everyday spending categories, this card can be a great choice for the average consumer. The Blue Cash Everyday® Card from American Express also comes with a generous welcome offer: Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. Redeemable for statement credits. If you're looking to reap the value of your new card within the first several months, this card may be a better option over the Bilt Mastercard®.

For rates and fees of Blue Cash Everyday® Card from American Express, please click here

Should you get the Bilt Mastercard®?

If you're looking to earn considerable rewards on everyday spending (including rent payments) and reap the benefits of numerous additional perks for no annual fee, you should definitely consider getting the Bilt Mastercard®. This card has much to offer consumers looking to earn on their day-to-day spending, and can even help future homeowners start saving for a down payment. If you don't pay enough in rent to warrant these benefits, however, or if you'd prefer a card that offers a sign-up bonus, you might want to go with another card instead.

Frequently Asked Questions

The Bilt Mastercard® is a rewards credit card that lets you earn points when you spend on everyday purchases including rent payments, travel and dining. It also offers a host of travel, purchase and cellphone protections and doesn't charge an annual fee.

Wells Fargo issues the Bilt Mastercard®.

Yes — if you're renting at a Bilt Alliance property, Bilt will report your rent payments to the three major credit bureaus each month automatically if you opt in. Reporting on-time rent payments can help you raise your credit score and help you build a healthy credit history.

To pay your Bilt Mastercard®, login to the Bilt Rewards app and select the "Card" tab. From there you will be able to make a payment, view your statement due date and see your outstanding balance. Note that you’ll need a Wells Fargo Online account if you want to make a payment online.

For rates and fees of Blue Cash Everyday® Card from American Express, please click here

The information related to Bilt Mastercard® has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).