Bilt Mastercard: Earn travel rewards just by paying rent
2 min read
Our take: The Bilt Mastercard’s single biggest advantage is the ability to generate points from rent payments. As of June 2023 the median rent in a major U.S. city was $2,029, and if the average renter paid using their Bilt Mastercard instead of a bank transfer, they’d generate nearly $500 in travel rewards each year.
Plus, if your landlord doesn’t already report your on-time payments to the credit bureaus (most don’t), paying rent through Bilt could actually help to improve your credit.
On the flip side, the points you accumulate through your Bilt Mastercard aren’t great for cash back. They’re worth more than a cent each when redeemed for travel, fitness classes or a down payment on a home, but less than a point each when redeemed for rent, Amazon or other short-term cash-equivalent options.
Plus, if you already live at a Bilt Rewards Alliance property (ask your landlord), you can generate points from rent payments by joining Bilt Rewards for free – you don’t need a Bilt Mastercard unless you want the extra points from travel, dining etc.
All things considered, the Bilt Mastercard is an excellent choice if you’re looking to generate travel rewards or a down payment fund through rent payments. If you’re looking to maximize short-term cash back, however, consider a card with a $200 – $600 cash welcome bonus like the Citi Double Cash Card or the Chase Sapphire Preferred.
Pros
- Earn points on rent payments with no transaction fees to boot
- Paying rent through the Bilt Mastercard can help build your credit
- Includes trip insurance, rental car insurance and cell phone protection
- Accrued points can generate a trickle of interest like a savings account
- Points worth over 1 cent each when redeemed for travel or a home down payment
- No annual fee
Cons
- No cash welcome bonus like most competing travel rewards cards
- No introductory 0% APR and regular APR as high as 29.49%
- Must be used 5 times per month or you’ll earn a flat rate of 250…
Chris Butsch
2024-01-22 09:00:00
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