Bilt Mastercard Review – Rewarding Renters
Joy Wallet is advertiser-supported: we may earn compensation from the products and offers mentioned in this article. However, any expressed opinions are our own and aren't influenced by compensation. To read our full disclosure, click here.
You've probably done the math: Even with a credit card that earns rewards on all purchases, paying your monthly apartment rent with your plastic doesn't make financial sense. That’s because the transaction fees that landlords or property managers charge outweigh any benefits you’d get from racking up points by charging your rent. But there is a credit card that can make paying your rent with plastic worthwhile: the Bilt Rewards Mastercard.
Jump To
What is the Bilt Rewards Mastercard?
The Bilt Rewards Mastercard is offered through the Bilt Rewards Alliance, a collection of more than 2 million rental properties across the United States that let you earn rewards points when you pay your monthly rent. You can earn these points by joining the Bilt network and paying your monthly rent through its app.
But you can earn more points if you successfully apply for the Bilt Rewards Mastercard. That's because the card allows you to earn rewards points when you pay your rent and spend on other purchases.
That makes this card a good choice if you are renting an apartment. If you own a home, you might do better with credit cards that offer more generous rewards for dining, travel, and gas purchases.
Raise Your Credit 80 points*
- 5 star service trusted by over 450,000 members
- Have processed over $11,000,000 in bill payments for members
- No deposit, no credit check, no interest
- New member promotions available
*Potential increase based on StellarFi member data. StellarFi numbers observed an average of 80 points VantageScore® 3.0 increase during a member’s lifetime. Score increase based on members with an incoming score range of 300-499 pts, who made regular on-time payments, with regular on-time payments. Results may vary.
How does the Bilt Rewards Mastercard work?
You’ll earn 1 point for every dollar you charge monthly rent. This can add up: Your monthly rent is probably the biggest purchase you make each month. By charging it, you can rack up reward points quickly.
The problem typically lies in the transaction fees that most landlords charge to accept credit card payments. Experian last year reported that property managers typically charge transaction fees of 2.5% to 2.9% when tenants pay their rent with a credit card. If you pay $1,500 a month in rent, a fee of 2.5% would cost you $37.50 extra each month. That comes out to $450 a year.
You can avoid these fees with the Bilt Rewards Mastercard. If you pay your rent with the card and live in one of the more than 2 million rental properties that are part of the Bilt Rewards Alliance, your landlord won’t charge you any transaction fees.
If you don't live in a property part of the Bilt Rewards Alliance, you can still earn rewards and avoid transaction fees if you pay with your Bilt Rewards Mastercard. Bilt will send your landlord or property manager a paper check in such cases.
There is a limit to this perk, though: You can only earn up to 50,000 rewards points on rental payments each calendar year. If you go over this amount, you won’t earn additional reward points for charging your rent until the next calendar year begins.
Want to know if you live in a Bilt Rewards Alliance property? The easiest way is to ask your property manager or landlord. You can also send an email to Bilt at support@biltrewards.com.
Signing up for the Bilt Rewards Mastercard is easy. Log onto the card's home page and click the “Sign Up/Login” button. This will take you to the sign-up page, where you'll be asked to enter your email address. Once you do, you'll be taken to a new page to create a password featuring lowercase and uppercase letters and at least one number and special character. Once you submit your new password, you'll be asked to enter your phone number and date of birth.
Bilt will then send a five-digit code to your phone, allowing you to continue to the Bilt Rewards Mastercard application page. This page will ask for your street address, housing status, monthly mortgage or rent payment, employment status, and annual income.
How much does the Bilt Rewards Mastercard cost?
The Bilt Rewards Mastercard charges no annual fee. You won’t even be charged foreign transaction fees if you use the card to purchase in another country.
That doesn’t mean you will never pay fees when using this card. If you don't pay your card balance in full each month -- and you should -- you will pay interest on the amount you haven't paid off. The Bilt Rewards Mastercard charges an APR of 20.99%, 23.99%, or 28.99%, depending on the strength of your credit.
If you transfer your balance from another card to the Bilt card, you'll be charged 3% of the amount you are transferring or $5, whichever figure is higher, for 120 days after opening your account. After this introductory period, you'll be charged 5% of the amount you are transferring or $5, whichever is greater. If you transfer $2,000 within 120 days of opening your account, then you'd be charged $60.
Cash advances cost either $10 or 5% of the amount you are advancing, whichever is greater. If you make a late payment, you'll be hit with a fee of up to $40.
Features of the Bilt Rewards Mastercard
In addition to providing points for rent payments, the Bilt Rewards Mastercard comes with several other perks.
Rewards
Yes, you’ll earn one reward point for every dollar you charge on rent, but you’ll also earn two points for every dollar you charge on travel purchases, three for every dollar spent on dining, and one on all other purchases.
You’ll have to make at least five monthly purchases with your card to earn these points.
You can redeem your points for travel by booking flights, and hotel stays through the Bilt Rewards online portal. You can also use points to help pay for your next month's rent or to save for a down payment on a home. The Bilt card allows you to use points for fitness classes; art, decor, or apparel through the Bilt Collection; or one-to-one purchases with airline and hotel partners.
Rent day
On the first day of every month, purchases with your Bilt Mastercard will be worth double the points. This means you’ll earn six points on dining purchases, four on travel, and two on all others. You won’t earn double the points for charging your monthly apartment rent even on the first day of the month.
Trip cancellation and interruption protection
If your trip is interrupted or canceled for a covered reason, you’ll receive a refund of your passenger fare if you bought the ticket with your Bilt Rewards Mastercard. This coverage is limited to $5,000 per covered traveler per trip.
Covered travelers include you, your spouse or domestic partner, and your dependent children traveling with you. Covered reasons for canceled trips include death, bodily injury, disease, or physical illness that prevents you or a family member from traveling.
Trip delay reimbursement
You'll be reimbursed for expenses you incur, including meals, when your trip is delayed more than six hours because of weather, mechanical breakdowns, or air traffic delays. You must pay for your airline ticket with your Mastercard to qualify for this protection.
The maximum reimbursement you can receive is $200 a day for each covered traveler for up to three days or $1,800 for all covered travelers on a trip.
Purchase security
If you purchase with your card and the item is damaged or stolen within 90 days, Mastercard might reimburse you for repairing or replacing the item. To qualify for this protection, you must pay for the item with your Bilt card. The maximum reimbursement you can receive is $10,000 for an item or $50,000 in 12 months.
Cell phone protection
This coverage reimburses you for repairing or replacing your cell phone if it is damaged or stolen. To qualify, you must pay your monthly phone bill with your Bilt Rewards Mastercard. You can get reimbursed for a maximum of $800 for every claim you file, but you must pay a $25 deductible for each claim, dropping that maximum reimbursement to $775. You can make up to two claims every 12 months. This protection does not cover cracked screens or other cosmetic damage.
Lyft credit
If you charge three Lyft rides in one calendar month, you'll earn a $5 Lyft credit.
DashPass membership
New account holders earn a free three-month DashPass membership. New and existing members get $5 off their first order with DoorDash every month.
Auto rental collision damage waiver
You'll receive coverage for collisions or theft for most rental cars. Again, you'll have to pay for your rental with your Bilt Rewards Mastercard to qualify for this coverage.
Earning interest on your rewards points
As you earn more points with your Bilt Rewards Mastercard, you'll steadily move up to different tiers, which opens you to more perks. When you open your account, you'll be in the Blue tier. Once you earn at least 25,000 reward points, you'll move up to Silver. You'll reach Gold status when you earn at least 50,000 points and Platinum once you hit the 100,000-point level.
Once you move into the Silver category, you'll earn interest on your points. Each month, you'll receive an interest payment in the form of bonus points based on the average daily points balance you've accumulated. This won't earn you a fortune in new points, but it is a nice perk.
Raise Your Credit 80 points*
- 5 star service trusted by over 450,000 members
- Have processed over $11,000,000 in bill payments for members
- No deposit, no credit check, no interest
- New member promotions available
*Potential increase based on StellarFi member data. StellarFi numbers observed an average of 80 points VantageScore® 3.0 increase during a member’s lifetime. Score increase based on members with an incoming score range of 300-499 pts, who made regular on-time payments, with regular on-time payments. Results may vary.
Who is this card best for?
The Bilt Rewards Mastercard is a good choice if you rent. Earning points on rent payments without worrying about transaction fees is a nice perk.
Who shouldn’t use the Bilt Rewards Mastercard?
You should choose a different rewards card if you don't pay rent. You’ll earn more rewards points with other cards for dining, fuel, and travel purchases.
Pros and cons
Pros
- You can earn points on apartment rent payments without paying transaction fees.
- You’ll earn extra points on dining and travel purchases.
- Earn 1 point for all other purchases.
- No annual fees.
- You can redeem points in a variety of ways.
Cons
- Must make at least five purchases a month to earn rewards points.
- Can only earn points on the first $50,000 you charge on rent payments each year.
- Won’t earn as much for everyday purchases as you might with other rewards cards.
- APR can be high depending on your credit score.
Bilt Rewards Mastercard vs. competitors
Card | Annual fee | APR | Rewards |
|---|---|---|---|
Bilt Rewards Mastercard | $0 | 20.99%, 23.99%, or 28.99% | 1X point for monthly apartment payments, 2X points for travel purchases, 3X points for dining and 1X point for all other purchases. |
Citi Strata Premier℠ Card | $95 | 21.24% - 29.24% | 10x on Hotels, Car Rentals, and Attractions booked through CitiTravel.com. Earn 3 Points per $1 spent on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations. Earn 1 Point per $1 spent on All Other Purchases |
Discover it Cash Back | $0 | 16.74% to 27.74% | 5% cash back on purchases in revolving quarterly categories, such as grocery stores, gas stations and restaurants. 1% cash back on all other purchases |
Capital One Venture Rewards Credit Card | $95 | 19.99% - 29.99% | 2 Miles per dollar on every purchase, every day. 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel. |
Citi Strata Premier℠ Card
Citi Strata Premier℠ Card
Card Name
Citi Strata Premier℠ Card
APR
21.24% - 29.24%
Recommended Credit Score
Excellent, Good
Annual Fee
$95
Special Offer
Earn 70,000 bonus ThankYou® Points
Special Offer Terms
after spending $4,000 in the first 3 months of account opening, redeemable for $700 in gift cards or travel rewards at thankyou.com
Rewards Rate
10x on Hotels, Car Rentals, and Attractions booked through CitiTravel.com. Earn 3 Points per $1 spent on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations. Earn 1 Point per $1 spent on All Other Purchases
Terms
Why We Like It
- Annual Hotel Savings benefit.
- No expiration and no limit to the amount of points you can earn.
- No foreign transaction fees.
Discover it Cash Back
Discover it® Cash Back Card
Card Name
Discover it® Cash Back Card
APR
18.24% - 27.24%
Recommended Credit Score
670 to 850
Annual Fee
$0
Special Offer Terms
0% intro APR for 15 months from date of account opening.
Intro Offer
0% Intro APR for 15 months on purchases and balance transfers and 3% Intro Balance Transfer Fee until November 10, 2023.
Rewards Rate
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations, up to the quarterly maximum when you activate. Earn 1% cash back on all other purchases – automatically. Unlimited Cashback Match.
Why We Like It
- No annual fee.
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com,4 grocery stores, restaurants, gas stations, up to the quarterly maximum when you activate.
- Get an unlimited dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card
Card Name
Capital One Venture Rewards Credit Card
APR
19.99% - 29.99%
Recommended Credit Score
Excellent, Good
Annual Fee
$95
Special Offer
Limited-time offer: For a limited time, earn 75,000 Miles
Special Offer Terms
once you spend $4,000 on purchases within the first 3 months of account opening, plus receive a one-time $250 Capital One Travel credit in your first cardholder year – that’s equal to $1,000 in travel
Rewards Rate
2 Miles per dollar on every purchase, every day. 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel.
Terms
Why We Like It
- 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, which is equivalent to $750 in travel
- You can earn unlimited 2X miles on every purchase
- $100 credit for Global Entry or TSA PreCheck®
- Two complimentary visits per year to Capital One Lounges
- 5X miles on hotels and rental cars booked through Capital One Travel
FAQs
Are you required to live in a Bilt Rewards Alliance apartment?
No. You can charge your rent and earn points without paying any transaction fees, no matter where you rent. If you don’t live in an apartment part of the Bilt Rewards Alliance, Bilt will mail a paper rent check to your landlord or property manager.
Does the Bilt Rewards Mastercard offer a 0% balance transfer offer?
It doesn’t. If you transfer a balance from another card to the Bilt Rewards Mastercard within the first 120 days of opening your account, you must pay either 3% of the amount you transferred or $5, whichever figure is higher.
Is there an annual fee?
This card does not charge an annual fee.
Are there any limits on the points I can earn when charging rent?
Yes. You can only earn up to 50,000 reward points on rent payments each year. If you charge more than $50,000 in rent during the year, you won’t earn points on those extra dollars. Most renters won’t hit that limit, though. You’d have to pay more than $4,166 in rent each month to hit that 50,000-point limit in a year.
Raise Your Credit 80 points*
- 5 star service trusted by over 450,000 members
- Have processed over $11,000,000 in bill payments for members
- No deposit, no credit check, no interest
- New member promotions available
*Potential increase based on StellarFi member data. StellarFi numbers observed an average of 80 points VantageScore® 3.0 increase during a member’s lifetime. Score increase based on members with an incoming score range of 300-499 pts, who made regular on-time payments, with regular on-time payments. Results may vary.
The bottom line
The Bilt Rewards Mastercard isn’t for everyone. But if you’ve long dreamt of earning points by charging your rent without facing high transaction fees, you might consider adding this card to your wallet.
Joy Wallet is an independent publisher and comparison service, not an investment advisor, financial advisor, loan broker, insurance producer, or insurance broker. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice. Joy Wallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Featured estimates are based on past market performance, and past performance is not a guarantee of future performance.
Our site doesn’t feature every company or financial product available on the market. We are compensated by our partners, which may influence which products we review and write about (and where those products appear on our site), but it in no way affects our recommendations or advice. Our editorials are grounded on independent research. Our partners cannot pay us to guarantee favorable reviews of their products or services.
We value your privacy. We work with trusted partners to provide relevant advertising based on information about your use of Joy Wallet’s and third-party websites and applications. This includes, but is not limited to, sharing information about your web browsing activities with Meta (Facebook) and Google. All of the web browsing information that is shared is anonymized. To learn more, click on our Privacy Policy link.
Images appearing across JoyWallet are courtesy of shutterstock.com.
Writer
Dan Rafter is a freelance writer who has more than 20 years experience covering personal finance. He's written for the Chicago Tribune, Washington Post, Bankrate, CreditCards.com, Rocket Mortgage, NortonLifeLock and several others.
Share this article
