Bilt Credit Card Mortgage Payments: How It Works and What to Expect

Bilt Credit Card allows you to pay off your mortgage balance with no interest or fees. This means you can put your mortgage payments on your Bilt Credit Card and earn rewards on those payments.

To use Bilt Credit Card for mortgage payments, you'll need to link your mortgage account to your Bilt Credit Card account. This can be done through the Bilt app or website.

You can earn 1 point per dollar spent on rent with the Bilt Mastercard, up to $100,000 a year.

However, Bilt will only allow you to earn rewards on your mortgage payment with some lenders, not all.

To pay your mortgage with a credit card, you'll need to use a third-party service that can process the payment on your behalf.

Using a credit card to pay your mortgage can come with some extra fees and processing charges.

In general, mortgage companies and mortgage loan servicers do not accept credit cards as a form of payment.

Bilt Rewards lets members earn points on rent payments, fee-free, and you can earn 250 points per rent payment made in the app.

However, if your landlord doesn't appear in Bilt's extensive database of property management companies, you'll be limited to earning 250 points per payment.

With the Bilt Mastercard, you can also earn points on everyday spending, including 3 points per dollar on dining and 2 points per dollar on travel.

But cardholders must make at least five purchases per billing cycle to earn rewards on this card.

You can earn rewards on your Bilt credit card mortgage payments, such as 2% cash back on purchases, but be aware that you'll be charged a 3.1% foreign transaction fee if you make international purchases.

Rewards are issued quarterly, and you can redeem them for statement credits, direct deposits, or gift cards.

Credit card issuers are showing interest in homeowners, likely due to their expenses beyond mortgage payments.

A new competitor, Mesa, has entered the scene with its Mesa Homeowners Card, which earns one point per dollar spent on monthly mortgage payments.

This card is currently waitlisted, but its arrival may have inspired Bilt to announce their own plans in a recent letter.

Some of the Mesa team includes former Bilt employees, which could be a factor in the timing of Bilt's announcement.

Bilt had previously floated the idea of allowing mortgage payments on their network in early 2024, but nothing came of it.

It's possible that Bilt is still working out the economics of this concept, as it could be costly to allow mortgage payments without fees.

The Bilt Mastercard currently offers 1X on rent, but cardholders need to use the card at least five times each statement period to earn points.

Evaluating potential rewards vs. fees is crucial to determine if using a credit card for mortgage payments makes sense. You need to compare the value of rewards to the total cost of using a credit card.

A 2% cash-back credit card with a 3% fee leaves you at a loss, so it's not worth using. Always calculate the costs and rewards before making a decision.

Earning rewards on mortgage payments can justify spending extra on fees and other costs. This is because you can earn points, miles, or cash back on your large mortgage payment using a rewards credit card.

If you're unsure what a point or mile is worth for the card you're considering, check out our detailed guide to credit card points and miles valuations. Calculate whether your rewards or benefits will outweigh the service fees charged.

Home Equity Financing can be a viable option, but it's essential to understand the process. A HELOC might offer lower interest rates than credit cards, making it a potentially attractive alternative.

However, applying for a HELOC can be a complex and time-consuming process. You must apply for and be approved for a HELOC, which may not be an easy or simple route to take.

Paying your mortgage with a credit card can be done, but it requires some extra effort. Mortgage companies and loan servicers generally don't accept credit cards as a form of payment due to processing fees charged by credit card companies.

You can pay your mortgage with a credit card if you're willing to do a little extra work. Mortgage companies aren't willing to pay these processing fees, so they don't accept credit cards as a standard payment method.

Taking out a personal loan with a lower APR than your credit card can be a more cost-effective way to cover mortgage payments if you don't have the liquid funds to cover the cost.

It's crucial to ensure you can repay the loan on time to avoid incurring high interest charges.

Paying your mortgage can be a daunting task, but there are some options to consider.

Mortgage companies and mortgage loan servicers typically don't accept credit cards as a form of payment. They're not willing to pay the processing fees charged by credit card companies.

If you're determined to pay your mortgage with a credit card, you'll need to do some extra work to find a way to do it.

Earning rewards on mortgage payments can be a game-changer, especially if you have a large payment each month. You can earn points, miles, or cash back on your mortgage payment using a rewards credit card.

Some credit cards offer rewards on mortgage payments that can justify spending extra on fees and other costs. You can calculate whether your rewards or benefits will outweigh the service fees charged.

Bilt Rewards lets members earn points on rent payments, fee-free, with 250 points per rent payment made in the app. This is a great way to earn rewards on your mortgage payments without any extra fees.

You can also earn points on everyday spending with the Bilt Mastercard, including 3 points per dollar on dining, 2 points per dollar on travel, and 1 point per dollar on rent payments every month. However, you must make at least five purchases per billing cycle to earn rewards on this card.

Transferring your Bilt points to frequent flyer programs and hotel loyalty programs is also a great option, with a 1:1 ratio. This means you can maximize the value of your points and redeem them for travel, shopping, or other rewards.

Redeeming Bilt points for a down payment on a home is also an option, with a value of 1.5 cents per point. This works out to $1,500 towards your down payment if you have 100,000 Bilt points.