The Bilt MastercardĀ® is a unique rewards credit card that offers renters the ability to earn rewards points on rent payments without any transaction fees.
Issued by Bilt Rewards, this card is specifically tailored for individuals who rent their living spaces and want to maximize the value of their rent payments.
It offers points on every purchase, including rent payments, which are typically excluded from most credit card rewards programs.
About the Issuer
The Bilt MastercardĀ® is issued by Bilt Rewards, a relatively new and innovative company that has partnered with major banks to bring renters an easy way to earn rewards through everyday spending.
Bilt Rewards is part of the Mastercard network, which is recognized globally for its secure payment platform and wide acceptance at merchants.
Bilt Rewards is designed with renters in mind, offering a unique opportunity for those who may not have had the chance to earn rewards on rent payments before.
Who Is This Card For?
The Bilt MastercardĀ® is ideal for:
- Renters who want to earn rewards on their monthly rent payments. The ability to pay rent with a credit card and earn rewards is a game-changer for those who have been unable to gain rewards from their housing costs in the past.
- Frequent travelers who want to earn travel rewards points. Bilt Rewards points can be redeemed for flights, hotels, and more, making this card a good option for travel enthusiasts.
- Fitness enthusiasts who want to earn points towards fitness memberships and workout classes, as Bilt offers partnerships with popular fitness companies such as Peloton and SoulCycle.
- Consumers who want a no-annual-fee card that still offers the opportunity to earn valuable rewards on every purchase.
Who Should Avoid This Card?
- Homeowners who donāt rent their living space wonāt be able to take full advantage of the rent payment feature of this card.
- Individuals who prefer traditional rewards systems that focus solely on travel or cashback rewards might find the Bilt Rewards program to be more niche and specific.
Top Benefits of the Bilt MastercardĀ®
Earn Points on Rent Payments
- The standout feature of the Bilt MastercardĀ® is its ability to allow users to earn rewards points on rent payments. Cardholders can earn 1x points for every dollar spent on rent with no transaction fees, which is unique compared to most credit cards.
Ā Earn Points on Everyday Purchases
- In addition to rent payments, cardholders earn 1x points on all other purchases, including groceries, dining, travel, and more. This makes the Bilt MastercardĀ® a versatile option for people who want to earn rewards on a variety of everyday expenses.
Ā Welcome Bonus
- New cardholders can earn a generous welcome bonus of 30,000 Bilt Rewards points after making three purchases within the first three months of card membership. This is a great start to building up your rewards points.
Ā No Annual Fee
- One of the most attractive features of the Bilt MastercardĀ® is its no annual fee structure. This makes it accessible for cardholders who want to earn rewards without having to worry about paying an annual fee to enjoy the benefits of the card.
Ā Flexible Redemption Options
- Bilt Rewards points can be redeemed for a wide range of rewards, including travel, gift cards, fitness classes, merchandise, and even as a rent payment. Cardholders can use their points in any way that suits their needs, giving them maximum flexibility.
Ā Bonus Categories
- In addition to earning points on rent and everyday purchases, cardholders can earn 2x points on travel and 3x points on dining, which include both restaurants and takeout. These categories make it easy to rack up points with frequent purchases.
Fees & Interest Rates
Annual Fee: $0
APR (Interest Rate): 15.99% – 22.99% variable
Cash Advance Fee: Either $10 or 5% of the cash advance, whichever is greater
Late Payment Fee: Up to $40
Returned Payment Fee: Up to $40
Foreign Transaction Fee: None
Minimum Payment: The greater of $25 or 1% of the balance (plus fees and interest)
Is the Bilt MastercardĀ® Worth It?
For renters, the Bilt MastercardĀ® is a game-changer. Hereās why:
Pros:
Earn points on rent payments with no fees, which is a rare feature for credit cards.
1x points on everyday purchases and 3x points on dining, making it a solid card for regular spending.
No annual fee, which makes it accessible for everyone.
Cons:
Limited redemption for homeowners, as renters will benefit most from the cardās features.
Interest rates are higher than average for those who carry a balance.
Points are best used for specific categories, so cardholders who donāt find value in fitness or travel rewards may not get as much out of the program.
Fees and charges
Late Payment: Up toĀ $40;
ā APR: 20.49% - 28.49%;
ā Balance Transfer Fee: Up to 5% for each balance transfer, with a minimum of $5;
ā Cash Advance: Either $10 or 5% of the amount of each advance.
Expert review
The Bilt Mastercard is an excellent choice for those looking to earn rewards on rent payments without extra fees.
It offers 1x point on all purchases, with the opportunity to earn 2x points on travel and 3x on dining, making it appealing for consumers who spend in these categories.
Additionally, it has no annual fee and a flexible rewards platform.
However, the variable APR can be high, and the value of rewards may not be as competitive as other cards.
You will remain on this site
+Positive points
- Earn Points on Rent: Get rewards on rent payments with no additional fees.
- Flexible Rewards: Redeem points for travel, rent, and other rewards through the Bilt Rewards platform.
- 1x Point on All Purchases: Earn 1x point for every dollar spent on everyday purchases.
- 2x Points on Travel & 3x on Dining: Boosted rewards for travel and dining, making it a great option for frequent travelers and foodies.
- No Annual Fee: Enjoy the benefits without having to pay a yearly fee.
- Negative points
- High Variable APR: Interest rates can be high, especially if you carry a balance.
- Limited Rewards Value: The overall value of rewards may not be as competitive as other cards.
- Rent Payment Restrictions: Rent payment flexibility may be limited in certain areas.
