*Note: If you use my link, I may get bonus points via my refer-a-friend link. However, note that I will always put the link that gets you the largest sign-up bonus, even if I don’t get anything, because I want you to be able to travel well. Find a link to my referral to the card here.
About a year and half or so ago, there was the launch of an innovative new rewards program: Bilt. In a nutshell, the whole premise is that you get points for paying your rent on time with a select group of rental property programs. More interestingly, anyone who rents can use the Bilt Mastercard to pay their rent and get 1 point per dollar spent on rent for any apartment rental that accepts payment via ACH.
I got this card in early January and have used it quite consistently the past year, and I wanted to report back. So, let’s go over the basics.
My Experience Paying Rent
To get the card, I got my hands on a “pass-the-line” link, as there was a waitlist at the time for the card (it’s now a part of the Wells Fargo family of products, so you can apply whenever [but please use my link!]). For the first month, they were still using a system where you type in the address and they mail a physical check to your landlord, and they would credit your account at one point per dollar. I did that for February, and I was NOT A FAN. I get super-anxious about checks and money in the mail (wild, given the amount of money I’ve spent on giftcards that were mailed to me over the years). However, it arrived at my landlord’s office around February 2nd, so that paid for my rent for February.
Around February or so though, they did something to give them the ability to do ACH payments. What this means, in a nutshell, is that, rather than mailing a physical check, you put Bilt’s bank account information into your landlord’s payment portal (not their real bank account, but just roll with me on this), and they then credit your account at one point per dollar and charge your Bilt credit card like you swiped it at some store. It’s much faster, more secure (no potential for lost checks in the mail), and allows you to track your rent payments more cleanly.
Best of all, you are able to get points back on the single biggest monthly expense for individuals who rent. It’s a seamless transaction and with an app that has clearly been designed for a fantastic UX and great engineering, it’s just a great experience overall. I was been able to email the CEO of Bilt personally and thank him for the great experience, and he responded!
To give you an example of what I’ve been able to generate, living in downtown DC, I pay quite a bit in rent each month (given that you’ll be able to calculate it from my totals, that’s $2800 a month). Over the course of 1 year, I accumulated 33,600 points from my Bilt card just on rent. Coupled with putting all of my dining on it, as well as buying dining gift cards from Panera and Papa John’s that we would spend each month anyways on double points day, I’ve been able to accumulate just over 58,000 Bilt points.
At the end of the year, I’ll have almost enough Bilt points to pay for the hotel portion of my yearly trip to Miami to stay at the Confidante by transferring those points over to Hyatt, or to pay for a one-way flight to Doha by transferring those points over to American Airlines and flying Qatar Airways.
Who Should Get This Card?
This card is aimed at renters, plain and simple. If you pay rent (or pay rent for someone, like if you have a kid in college who rents an apartment), this is a great card.
I will note that you need to have a payment portal that you go through. For example, if you write a check to someone (like your aunt or the landlord), and they don’t have a portal of any kind that allows you to pay via ACH, then you can’t use this card to pay your rent.
This is also a great starter card for individuals who want to dive into points and miles but don’t want to pay an annual fee on their credit card.
Why? Two reasons:
- They have lots of great articles on their app to help you use your points in an economical way. Like I said earlier, they have a great user experience, and I think it’s a great way to learn about points and miles, even if they speak about ways I would never recommend using them (but, as I said in an earlier post, they’re your miles, and you should use them how you want!). Now, I don’t endorse every way that they say you can use your points, but they’re being thorough, which I appreciate.
- To be frank, for anyone who is probably getting this card, it’s the best points earning card with fully transferable points that has no annual fee, hands down. As I’ll go over later in this post, given that you’ll automatically get points for your rent, I don’t see how you can make off any better with other no annual fee products. You may get more with the Chase Freedom Unlimited, but unless you’re spending a lot of money in non-bonus categories, and you also have a card where you can actually transfer your points to different travel providers (so you’ll need two cards, at a minimum), then I don’t see how you can make off any better than with the Bilt Mastercard.
Basics of the Card
First of all, there’s no annual fee. This is great, as you can keep it forever, and it will do nothing but help your credit score.
Second, it has a pretty standard earning structure. You get 3x points on dining, 2x on travel, and 1x points on everything else, including your rent (up to $50,000 in rent a year).
Note that you only earn points when you make 5 transactions in each statement period. I use this card exclusively for rent and dining, as I buy something from a restaurant more than 5 times a month.
Third, there is no sign-up bonus. It’s a kicker for many, but when you open up the opportunity, you make a small sign-up bonus each year. For example, let’s say your rent is $2,000 a month, and it never rises for the next 5 years. That’s 24,000 points a year, and 120,000 points after 5 years. Those are points you wouldn’t get otherwise, so I think it’s well-worth it for anyone who rents and plans on renting for a while.
Conclusion
In conclusion, I have had a great experience, both from a points earning level and a user experience level with the Bilt Mastercard and the Bilt Mastercard program. I highly recommend this for any individual wanting to open up a card and is a renter.
Have you considered getting this card? What questions do you have about this card?
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