Bilt Mastercard
The Bilt Mastercard® is a unique, no-annual-fee credit card designed to reward renters by allowing them to earn points on rent payments without incurring transaction fees. Beyond rent, the card offers competitive rewards on dining and travel, making it a versatile option for various spending habits.
Key Features:
• Rewards Structure:
• Earn 1 point per dollar on rent payments, up to 100,000 points per calendar year.
• Earn 3 points per dollar on dining.
• Earn 2 points per dollar on travel.
• Earn 1 point per dollar on all other purchases.
• On the first day of each month (“Rent Day”), earn double points on dining (6x), travel (4x), and other purchases (2x), excluding rent payments, up to 1,000 bonus points.
• Rent Payment Feature: Pay rent through the Bilt app to any landlord without transaction fees, even if they don’t accept credit cards. Bilt facilitates this by sending a check or transferring funds on your behalf.
• Earning Requirement: To accrue points, you must use the card for at least five transactions each statement period.
Redemption Options:
• Travel Transfers: Transfer points at a 1:1 ratio to various airline and hotel partners, including American Airlines AAdvantage, United MileagePlus, World of Hyatt, and more.
• Travel Portal: Book flights, hotels, and car rentals directly through the Bilt travel portal using points.
• Statement Credits and Rent Payments: Redeem points for statement credits or apply them toward future rent payments.
• Fitness Classes and Merchandise: Use points for fitness classes like SoulCycle or purchase items from the Bilt Collection.
Additional Benefits:
• Cell Phone Protection: Receive up to $800 in coverage against damage or theft when you pay your monthly cell phone bill with the card, subject to a $25 deductible.
• Trip Protections: Benefit from trip cancellation and interruption protection, as well as trip delay reimbursement.
• No Foreign Transaction Fees: Make purchases abroad without incurring additional fees.
• World Elite Mastercard® Benefits: Access concierge services, exclusive offers, and experiences through the World Elite Mastercard® program.
Pros:
• Rent Rewards Without Fees: Unique ability to earn points on rent payments without transaction fees, a feature uncommon among credit cards.
• Competitive Bonus Categories: High earning rates on dining and travel purchases enhance point accumulation.
• Valuable Transfer Partners: Access to a range of airline and hotel loyalty programs increases redemption flexibility and potential value.
• No Annual Fee: Enjoy rewards and benefits without the burden of an annual fee.
Cons:
• Earning Requirement: Must make at least five transactions per statement period to earn points, which may require strategic spending for some users.
• No Traditional Welcome Bonus: Lacks an initial sign-up bonus, common among many rewards credit cards.
• Rent Payment Cap: Earning 1 point per dollar on rent is capped at 100,000 points per calendar year, limiting rewards for those with higher rent expenses.
Considerations:
The Bilt Mastercard® is particularly advantageous for renters seeking to earn rewards on their largest monthly expense without incurring additional fees. Its robust rewards on dining and travel, coupled with valuable transfer partners, make it appealing to a broad audience. However, the requirement to use the card five times per billing cycle to earn points and the absence of a traditional welcome bonus may be considerations for potential applicants.