Our Bilt Mastercard review highlights the unique qualities that make it worth considering if you’re a renter who likes to travel. The Bilt Rewards program gives you points for paying your rent at any apartment, with no transaction fees. It awards double points for travel and triple for dining purchases.
Rewards points can be redeemed through major frequent travel programs, including those from American Airlines, United Airlines, and Hyatt Hotels. You can also redeem points for fitness classes and other perks. Consider whether the Bilt Mastercard might be a good fit for you by reading on in this review.
Bilt Mastercard Review: Features and Benefits
- Receive rewards for rent payments
- No credit card fees for rental payments
- 3X points for dining, 2X for travel, 1X for rent payments and other purchases
- Must make 5 purchases in a month to receive rewards points
- Earn double points each 1st of the month excluding those for rent payments
- Rewards points redeemable for fitness classes and other Bilt Rewards
- Rewards points also transferable to numerous frequent travel programs
- No annual fee
- Fees for late payments, cash advances, and balance transfers
- Variable APR currently 21.49% – 29.49% on purchases
- Variable APR currently 29.49% – 29.49% on cash advances
- Additional travel, cellphone, and other World Elite Mastercard Benefits
- Best for good-excellent credit scores
Bilt Mastercard Review: Details
Pay your rent using Bilt MasterCard
Unique to Bilt Mastercard, you will earn one reward point per dollar for paying your rent. Bilt has worked with renters and property owners to create a system where you can pay rent via credit or via ACH transaction from a linked bank account.
Bilt bypasses any credit card transaction fees your property manager would otherwise assess. It even allows you to pay by Bilt MasterCard if credit cards are not otherwise accepted for your rent.
Pay close attention to the method of funding you choose. If you set up BiltProtect, you can pay rent using ACH from a linked bank account so the rent doesn’t become part of your credit card balance. Otherwise, it will be added to your credit card balance like any other purchase.
No annual fee
Bilt Mastercard’s $0 annual fee means you only incur fees for specific behaviors. If you transfer a balance, you’ll pay a fee up to 5% per transfer, with a minimum of five dollars. Cash advance fees come in at either $10 or 5% of the amount of each advance, whichever is greater.
Travelers note that Bilt Mastercard charges no foreign currency conversion or transaction fee. But there’s a late payment fee up to $40.
Interest rates vary based on the prime rate and your credit score
The current, variable APR on purchase balances sits at 21.49%, 24.49%, or 29.49% depending on your credit worthiness. Cash advances and balance transfers begin accruing interest immediately. But no interest will be charged on purchases if you pay the entire balance by the due date each month.
Earn rewards points on rent, travel, dining, and other purchases
Unlike a cashback credit card, the rewards you earn with the Bilt Mastercard must be converted through Bilt Rewards or numerous travel loyalty partners.
Earn double points (2X each dollar spent) for travel purchases, triple points for dining purchases, and one point per dollar for all other purchases, including rent.
You must make at least five transactions in a month to receive any rewards points that month. Points from rental payments cap at 100,000 points each calendar year.
Loyalty program rewards partners include major airlines and hotel chains
Numerous US-based and international travel loyalty programs accept the transfer of Bilt rewards points. Hotels include the World of Hyatt and IHG hotels. Brands such as InterContinental, Crown Plaza, Holiday Inn, and Staybridge make up the IHG family.
Transfer Bilt Rewards points to numerous US-based airline frequent flier programs. These include those from United Airlines, American Airlines, and Hawaiian Airlines.
Air Canada, Virgin Atlantic, AirFrance/KLM, British Airways, Cathay Pacific, AerLingus, Turkish Airlines, Iberia, and Emirates all currently accept Bilt Rewards transfers to their loyalty programs.
Take advantage of the monthly double points day
On the first of every month, you receive double points on every purchase, except for rent.
As a World Elite Mastercard, additional perks available
Trip cancellation & interruption protection, trip delay reimbursement, and auto rental collision damage waiver are included. As is cell phone protection for damage to, theft of, or certain other losses. The Mastercard travel services portal offer additional travel price protection and stay guarantees.
Bilt Mastercard focuses on renters
The founders of Bilt Rewards saw a need for renters to be rewarded for paying their single largest monthly expense. Property portals often charge high fees for paying with a credit card, meaning most renters choose not to. You therefore don’t earn credit card rewards. Many properties only accept checks or ACH transfers.
Properties who have joined the Bilt Alliance already give their renters access to the Bilt Rewards program. Tenants earn rewards points for rent payments. The Bilt Mastercard expands this Bilt Rewards program, and its rental payment access, to those renting in properties outside of the Bilt Alliance.
Bilt Mastercard at a glance
Bilt Mastercard Card Pros and Cons
Pros
- The only credit card where you can earn reward points on ACH rent payments
- Skip your property’s fees otherwise charged for using a credit card to pay rent
- Enables you to transfer points to travel loyalty programs and earn extra points while you travel and dine
- No annual fee
- No foreign transaction fees
Cons
- A good-excellent credit score is necessary for most approvals
- No intro offer
- Average to high interest rate depending on credit worthiness
- If you fail to make five monthly purchases on your card, you won’t earn reward points that month
- Keep in mind that if you use credit to pay your rent payment and don’t pay the balance in full each month, you will be charged interest, making your rent much more expensive
Bilt Mastercard Application
According to the Bilt Rewards site, your credit history will be pulled. They will contact one of the credit bureaus, Experian, Equifax, or TransUnion. It will be a hard pull or hard inquiry, which may affect your credit score.
It’s a good idea to keep tabs on your own credit score. At the ConsumerFinance.gov site, you’ll find information, and a link to the legitimate, government-approved site to do this for free.
Bilt Mastercard Credit Limit
If you’re approved for a Bilt Mastercard, the minimum credit limit is $1000.
Bilt Mastercard Reviews
Consumer reviews mention that it’s important to plan ahead to make five purchases per month on your credit card. If you don’t, the rewards points you tally up that month, including for your rent, won’t be added to your account.
A few consumer reviews cite problems with setting up initial rent payments through Bilt. Make sure to leave plenty of time for your new rent payment process to go through, especially for the first month you use it. Some had customer service concerns and mentioned differing levels of support when interacting with Bilt for rent payment issues and Wells Fargo for other questions.
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Why Bilt Mastercard Stands Out
Bilt Mastercard has been designed specifically for renters who want to receive rewards for paying their largest monthly bill. If you rent, and enjoy dining and travel, you’ll appreciate these additional ways to add and redeem rewards points. As with most cards, it’s expensive to carry any month-to-month balance. But its $0 annual fee makes it easy to use, even if you already have another debit or credit card.
FAQs
Is Bilt Mastercard worth it?
If you’re a renter who wants to receive rewards points for this expense, check out Bilt Mastercard. If you have poor credit, don’t pay monthly rent, or don’t dine out or travel, it may not be worth it for you.
Is it hard to get approved for the Bilt Mastercard?
Numerous reviews mention the need for good to excellent credit in order to be approved for a Bilt Mastercard.
Does Bilt Mastercard do a hard pull?
Yes, Bilt Mastercard does a hard pull of your credit report. This may affect your credit score.
Is the Bilt credit card good for renters?
The Bilt credit card has been designed specifically for renters, letting renters earn rewards points for paying rent at any apartment, via credit, check, or ACH.
Information on Bilt Mastercard and Bilt Rewards correct as of the date published. See Rewards & Benefits Terms and Bilt Mastercard Terms & Conditions.
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