October 1st Bilt Rent Day reminder. The Bilt Mastercard offers rewards for all renters, plus they roll out special promos on the first of every month (“Rent Day”). On October 1st (12am ET to 11:59pm PT), earn 5X points on eligible sports ticket purchases (10,000 bonus points max). As always, must use your card to make 5 purchases (of any amount) each statement period to earn points. They also had some NFL tickets but those sold out in seconds.
Bilt members can again book complimentary bike sessions on the 1st of each month at SoulCycle studios across the country. 10 bikes available per class on a first come, first served basis – bookable only in the Bilt App. (Bilt says app-only, but I could book it online via their website. Book now, for a ride on the 1st.) One rider will get their rent paid (up to $2,500).
There is also the new game show (one question only, prize is an entry to enter drawing to win free rent) on top of the usual PointsQuest trivia (worth up to 250 points).
Plus the usual Double Points on Rent Day:
Just joined recently? Don’t miss these free Bilt Points opportunities (any day). Bilt lets you earn bonus points for a variety of different small activities, which can add up to 1,000+ easy points. I don’t know if these are officially listed anywhere, but I got them.
- After I first got approved for the Bilt card, they offered me 5X Bilt points on all purchases (except rent) for a limited period of time (reader Eileen reports 5 days). This is a good opportunity to earn 5X points for everyday larger purchases like insurance, tax payment, charitable giving, or utility bills. Max 50,000 points.
- 100 points for linking each transfer partner. Link Hyatt? 100 points. Link Air Canada Aeroplan? 100 points. Link them all! 10+ partners = 1,000+ points.
- 500 points for Amazon Shop with Points. Link your Amazon account and you can buy stuff with Bilt points at the usual mediocre 0.7 cents per points value. Linking gets you 250 points, and using the program (spend at least 1 Bilt point) and get another 250 Bilt points.
- 100 points for each credit card linked to Bilt Dining (up to 300 points). Bilt Dining lets you earn 5X points per dollar when you pay at an eligible restaurant using a linked credit card. Link three different credit cards, get 300 Bilt points.
Full review:
The updated Bilt Mastercard is a unique credit card that earns rewards on rent payments to any landlord. Bilt is a rent payment platform and they will send your landlord a check or ACH bank transfer so that your landlord will not have to do anything. In addition, the credit card has bonus categories and a variety of points redemption options like many other rewards credit cards. Here are the highlights:
- Up to 1X points spent on rent payments without the transaction fee, up to 50,000 points each calendar year.
- 3X points on dining.
- 2X points on travel including hotels, rental cars, and cruises when booked directly with airlines, hotels, and car rental agencies.
- 1X points on other purchases.
- Earn points when you make 5 transactions that post each statement period.
- When renting at a Bilt Alliance property, you can choose to have your rent payments automatically reported by Bilt to the three major credit bureaus each month; Experian(TM), TransUnion(TM), and Equifax(TM).
- No annual fee.
- World Elite Mastercard perks like cell phone insurance and purchase protection.
That means your rent can be up to $50,000 per year ($4,166 per month) and you would still be able to take full advantage of the 1X points per dollar spent on rent payments. They do require you to make at least 5 transactions per month (rent can be one), otherwise too many people might just put their rent on the card and not use the card otherwise.
Bilt has partnered with the owners of over 2,000,000 apartment units to create the Bilt Rewards Alliance. The easiest way is find out if you live in a qualifying property is to simply type in your address into the Bilt app.
Bilt also offers Double Points on “Rent Day”, aka the 1st of every month. This means that on the 1st day of every month, you can get 6X on dining, 4X on travel, and 2X on other purchases(except rent). They also offer other promos on this day. For example on 12/1/2022, you can transfer 1 Bilt point into 2 IHG points (1:2 instead of 1:1).
Bilt Rewards Points redemption options
Travel partners. Bilt Rewards points transfer on a 1:1 basis to the following hotel and airline partners. You can also get 100 bonus points for every loyalty program you link to Bilt.
- American Airlines AAdvantage
- Air Canada Aeroplan
- United Airlines
- Hawaiian Airlines
- FlyingBlue (Air France/KLM)
- Miles & Smiles (Turkish Airlines)
- Emirates Skywards
- Cathay Pacific Asia Miles
- British Airways Executive Club
- Virgin Atlantic Flying Club
- Aer Lingus Aer Club
- Turkish Miles & Smiles
- Iberia Plus
- World of Hyatt
- IHG One
Hyatt hotel points, American, United, and Hawaiian miles are likely the most useful points for the average US traveler. I am conservative when valuing points and miles due to their redemption hassles and steady threat of devaluation, so I would place the value here a 1 cent a point even though I definitely plan to exceed that. You may wish to use a different value.
Home Downpayment? Bilt says that your points can be redeemed at 1.5 cents per point when used towards a home downpayment. This seems like it might be rather complicated to actually redeem, so I would keep it mind but wouldn’t count on it. If you racked up 100,000 points over time, it would be nice to have $1,500 via this method.
Shop with Points at Amazon. You can link your Bilt Rewards points to Amazon and pay for your purchases at rate of 0.70 cents per point.
Rent. Bilt will let you convert points towards your next rent payment at 0.55 cents per point. This is not a good redemption rate when compared to the miles/Hyatt option. It’s too bad there is no easy, decent cash-out option.
Statement credit. Bilt will also let you convert points towards a statement credit on your credit card statement at 0.55 cents per point.
Other options include fitness classes or physical items like “limited-edition” home decor or art in the “Bilt Collection” catalog. Personally, I like being able to add to my Hyatt and Canada Aeroplan stash.
Possibly help your credit score? When renting at a Bilt Alliance property, your on-time payment activity can be automatically reported to the three major credit bureaus. In addition, with the optional “BiltProtect” feature, your rent payments will be immediately withdrawn from a linked bank account so your credit limit is not decreased (and ideally your rent won’t contribute to your credit card debt).
How do I pay my landlord or property manager? They don’t take credit cards due to the transaction fees. Bilt will provide you with a bank ACH routing number and account number that you can use to perform an ACH transfer, or they will simply send a paper check on your behalf. You don’t actually pay with the credit card, nor do you or your landlord have to pay any credit card transaction fees.
Free cell phone protection. Pay your monthly cell phone bill with your Bilt Mastercard and get up to $800 of protection (subject to $25 deductible) against covered damage or theft. For complete coverage details, visit wellsfargo.com/biltbenefits. To file a claim, call 1-800-316-8051 or visit mycardbenefits.assurant.com.
Bottom line. The Bilt Mastercard offers a unique rewards structure targeted specifically at all renters with any landlord. At $2,000 a month in rent, the 1X rewards would add up to 24,000 points per year in rewards = 24,000 American/United/Hawaiian miles or 24,000 Hyatt points with no additional transaction fees and no credit card annual fee. You may even do better if you wait for a “Rent Day” promo on the first of the month. Something to consider if you already have to pay rent anyway.
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Do they cover mortgage payments? in my mind mortgage is like paying fixed rent for 30 years 🙂
I’m glad you’re looking into the Bilt Rent Rewards card! I applied and was approved for this card myself recently. I wanted to share a few things I wish I had known before applying. First, the application process is a bit of a pain. You have to provide your rental agreement, pay stubs, and bank statements. It would be helpful if they was an option to upload these documents electronically. Second, the card doesn’t give you a lot of points for your spend. You only earn 1 point per $1 spent. And those points can only be redeemed for rental discounts, not cash back or anything else. Third, the customer service isn’t great. I called to ask a few questions and the representative was very short with me and didn’t seem to want to help. I would suggest providing more information about the application process on the website and being more upfront about the limited rewards. As for customer service, I would recommend training your representatives to be more patient and helpful. What is the application process? Do you earn points for every dollar spent? What can you redeem points for?
Great idea. A lot of people have wanted to do this for a long time and have searched for work arounds to little or no avail usually. I wonder if landlords will charge 4% more for taking a card? A merchant fee?
Please do an article on bank bonuses. I’ve noticed that with interest rates increasing, our mindset around these will have to change. For example…tying up 300k of capital for 90 days to get a 2000$ bonus at Citi is a losing proposition with interest rates at 5%. 300,000x.05/12×3=$3750…$1750 more than Citi is offering for tying up your capital for 90 days. At 4% it’s 3k.
Interest rates would need to be a hair below 2.75% for you to break even on this offer. 90 day bills and brokered CD’s are offering close to 4%, so these bonuses are not going to be attractive for a while or are going to have to adjust for inflation. And you have the additional hassle of opening the account whereas you can buy a tbill or brokered CD with just a click or two of the button.
Too bad, but I think with rates being where they are, bank bonuses are not going to be a way to get extra anymore. So the challenge of funding an IRA with bonus money isn’t going to be any fun next year. 🙁
Have to find better cc offers I guess.
Also…as you were the one who recommended brokered cd’s, wondering if you can address the question of lag. When you buy a brokered cd, they may not be debited from your account for a week or two. And then with Schwab, I’ve had to sometimes wait a day or two for the funds to come back and a little longer for the interest. If the “pending” sale is still held in a cash account, no problem. Otherwise, this process of rolling 30 day cd’s or t bills is effecting the rate. Do you have any thoughts on this?
I’ve been mulling over this card, but does this truly work for any landlord like the article says? I thought there were some catches. What if my landlord is simply a mom & pop and I’m renting a single family home (not an apartment complex)? The Bilt card site mentions apartments specifically.
Bilt just sends them a paper check on your behalf. They will do ACH for landlords use a more modern service, but as long as your landlord will accept a paper check, you’re good.
Would this card work for paying HOA fees? Is there a credit check? Does an international student who does not have SSN has ability to take advantage? Thanks, Jonathan!
Thank you. Just received this card and am so excited. On the day that the card physically arrived, there was a text that read, “To celebrate, we’re giving you 5X points on eligible purchases for the next 5 days.”
Thanks! I think I immediately charged my insurance bill on it.
Thank you for the detailed explanation, including the Amazon conversion rate as I’m not interesting in miles/points anymore, could not find this anywhere.
Does anyone know if the application / rent submission doc process as commented above still in effect? What if one is self employed? Seems like a lot of work for max $420 amazon credit per year for me.
Thanks