Credit Card Review: Bilt Rewards Mastercard

At one point or another, many who rent out their homes have wondered if it is possible to pay their rent with a credit card. They may have considered doing this to earn rewards, enjoy convenience, and potentially avoid paying late when they are running out of money.

Until now, the only way to pay rent with a credit card has been to use a service that charges around 3%. However, the Bilt Mastercard is the only credit card that allows renters to earn rewards on their rental payments, free of charge.

Key words

  • Welcome bonus: Nothing
  • Awards: 1x rewards on rent payments, 2x on travel and 3x on meals.
  • Annual subscription : $ 0
  • APR: Not disclosed at this time.

How does this card work

It is the only credit card that allows you to pay your rent at no additional cost. Bilt has deals with many of the largest property management groups, which own millions of units in the United States. But even outside of that group, Bilt and Mastercard have agreed to make payments to any owner, without imposing fees on either party.

You earn one point per dollar spent on rent, 2x for trips booked directly with the travel provider, and 3x for meals. Reward points can then be transferred to travel partners including American Airlines, Air Canada, Emirates, Air France / KLM Flying Blue, Turkish, Virgin Atlantic, Hawaiian, IHG Hotels, and World of Hyatt.

Bilt has just launched an elite status program that offers perks such as help with buying a home, bonus points for new leases and referrals and interest on accrued points.

Other benefits include cell phone protection, purchase protection, rental car insurance, trip cancellation protection and trip delay protection. There is no annual fee for this card.

Advantages

For many tenants, paying their rent is their highest monthly cost. So, the ability to earn rewards on this expense can be incredibly valuable. In addition, the Bilt Mastercard rewards program offers one of the most valuable selections of airline and hotel transfer partners offered by any credit card.

The Elite status program can also offer potentially valuable benefits, and the opportunity to earn interest on your accumulated points is unique. The Bilt Mastercard also offers a full list of benefits for cardholders and has no annual fee.

Disadvantages

The Bilt Mastercard does not come with any new account bonus, unlike most loyalty cards. Additionally, cardholders must complete five or more transactions per statement period in order to earn points on all of their spending. So you won’t earn any rewards if you only use this card to pay your rent.

Alternatives

The Bilt Mastercard doesn’t have direct competitors that let you pay rent free of charge, but here are three other cards that offer rewards that can be transferred to airline and hotel partners.

Favorite Chase Sapphire. This card currently offers new applicants 100,000 bonus points after spending $ 4,000 within three months of opening the account. It offers 5x the points on trips purchased through Chase and 3x on all other trips and restaurants. Your rewards can be transferred to airline miles or hotel points. There is an annual fee of $ 95 for this card and no overseas transaction fees.

Capital One Venture. Capital One’s premium travel rewards card offers new applicants 60,000 bonus miles after spending $ 3,000 on new purchases within three months of opening the account. It also offers unlimited double miles on all purchases. Miles are worth one cent each as statement credits for travel purchases, or can be transferred to airline and hotel partners, typically at a ratio of 2: 1.5. There is an annual fee of $ 95 for this card and no overseas transaction fees.

Citi Premier. This card offers new applicants 80,000 bonus points after using their card to spend $ 4,000 within three months of opening the account. You also earn three points per dollar spent at restaurants, gas stations, supermarkets, air travel, and hotels, and one point per dollar spent on all other purchases.

Points are earned in Citi’s ThankYou Rewards program which allows you to transfer your points into miles with over a dozen frequent flyer programs including American Airlines, JetBlue, Emirates, Singapore and Turkish. This card also offers an annual savings of $ 100 on a single hotel stay of $ 500 or more. There is an annual fee of $ 95 for this card.

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Final result

In an industry where many credit cards share many of the same features, the Bilt Mastercard is a rare commodity with an attractive feature that no other card is currently able to offer. When you add up the value of the rewards you can earn by charging your rent on this card, you can decide if it is the right card for you.

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