Bilt Mastercard Credit Card News: A Card for Renters and Future Homebuyers

The Bilt Mastercard is a game-changer for renters and future homebuyers. It's a credit card that allows users to pay rent and make mortgage payments directly from their card, earning rewards and building credit at the same time.

This card is perfect for those who are tired of paying rent with cash or other methods that don't help build credit. By using the Bilt Mastercard, users can start building a credit history and improving their credit score over time.

One of the unique features of the Bilt Mastercard is that it doesn't require a minimum credit score to apply. This makes it accessible to many people who may not have a credit history or have been denied credit in the past.

The Bilt Mastercard credit card offers a unique rewards program that lets you earn points on your rent payments, travel, dining, and other purchases. You can earn up to 100,000 points per year on rent payments, which is a significant amount, especially if you pay $8,333 or less per month in rent.

To earn points, you need to use your Bilt Mastercard at least five times each statement period. If you don't meet this requirement, you'll only earn a flat rate of 250 points for paying your rent. This is a great reminder to use your card for multiple transactions each month.

One of the best ways to maximize your points is to use your card on Rent Day, when purchases earn 6X points. You can also use it for dining transactions, which earn 3X points per dollar. Many restaurants allow you to load funds on an app, making it easy to meet the required number of transactions.

Here's a breakdown of the earning rates:

Keep in mind that you need to have at least five monthly transactions to earn points in the other rewards categories. This includes using your card for rent payments, dining, travel, and other purchases.

If you refer new cardholders, you can earn 2,500 points for each successful referral, with an additional 10,000 points awarded for every fifth successful referral. This is a great way to earn more points and share the benefits with friends and family.

Overall, the Bilt Mastercard rewards program offers a unique combination of earning rates and redemption options. Whether you're a renter or a frequent traveler, this card can help you earn points and rewards on your daily purchases.

You can redeem Bilt points for airlines, hotels, rent payments, statement credits, toward a down payment on a home, fitness classes, and merchandise.

Redeeming points through the Bilt Travel Portal gets you a fixed rate of 1.25 cents per point for flights, hotels, rental cars, and activities.

Bilt points are worth 1.5 cents each when redeemed toward a down payment on a house, making it a valuable option for those looking to buy a home.

You can transfer points to Bilt's travel partners at a 1:1 ratio, unlocking incredible value with partners like Alaska Airlines and Hyatt.

Here are some of the airline and hotel partners you can transfer Bilt points to:

Some redemption options, like credits toward rental payments or merchandise, provide significantly less value than others.

You can also redeem points for fitness classes at companies like SoulCycle and Y7 Studio, or for items on Amazon.com or curated art, apparel, and decor through the Bilt Collection.

The Bilt Mastercard comes with a range of benefits and features that make it an attractive option for renters and travelers. One of its standout features is its rent payment flexibility, allowing you to pay rent without added transaction fees.

The card offers trip delay reimbursement, covering up to $200 per day for up to three days on a delayed trip. This can be a lifesaver if your travel plans are disrupted.

You can earn Lyft credit each month with your Bilt card, up to $5 in credit per month after taking three eligible rides. This is a great perk for frequent Lyft users.

The Bilt Mastercard also offers a range of travel protections, including trip cancellation and interruption protection, and an Auto Rental Collision Damage Waiver. These features make the card a good option for travelers.

Here are the loyalty status levels and benefits:

The Bilt Mastercard also offers cellular telephone protection, reimbursing up to $800 for the cost of repair or replacement after any coverage provided by primary insurance.

The Bilt Mastercard has a $0 annual fee, which is a great perk. No foreign transaction fees means you won't be charged extra for purchases made abroad.

The card's APR is variable, ranging from 18.49% to 28.49%. This is a relatively common range for credit cards.

If you're late with a payment, be prepared for a late fee of up to $40. It's essential to stay on top of your payments to avoid this fee.

There's also a cash advance fee of $10 or 5% of the advance, whichever is greater. If you need to withdraw cash from an ATM, this fee will be applied.

Balance transfers come with a fee of up to 5% of the transfer, with a minimum of $5. However, if you complete a balance transfer within 4 months of account opening, the intro balance transfer fee is 3% of each transfer, also with a minimum of $5.

To apply for a Bilt Mastercard credit card, you'll need to meet the eligibility requirements, which include having a valid Social Security number, being at least 18 years old, and having a minimum income of $2,000 per year.

The Bilt Mastercard is available to individuals who have a US address and are not currently bankrupt or have any outstanding tax liens.

You can apply for a Bilt Mastercard online, by phone, or by mail, and the application process typically takes around 30 seconds to complete.

The Bilt Mastercard offers a credit limit of up to $10,000 for new applicants, with the option to increase the limit after making on-time payments.

To be eligible for a credit limit increase, you'll need to have made at least six on-time payments in the past six months.

Our expert reviewer, Ryan Flanigan, has put the Bilt Mastercard to the test and shares his thoughts on its earning rates and rewards program. He appreciates the unique approach to rewards, offering useful promotions and out-of-the-box ways to earn points.

The Bilt Mastercard offers 3x points on dining, 2x points on travel, and 1x points on other purchases, making it a solid choice for those who frequently dine out or travel. However, its strength lies in its ability to reward rent payments without a transaction fee.

If you're looking for a card that helps you save money for a home, the Bilt Mastercard is unrivaled. But if you're looking for a card that rewards your most common purchases, other options may be a better fit.

Here's a quick comparison of the Bilt Mastercard's earning rates:

The Bilt Mastercard stands out from the crowd, especially for renters who want to earn rewards on their rent payments. This card offers 1x points on rent without a transaction fee, up to 100,000 points in a calendar year.

However, if you're looking for a card that rewards your most common purchases, other options might be a better fit. The Bilt Mastercard offers 3x points on dining and 2x points on travel, making it a solid choice for those who frequently dine out or travel.

One unique feature of the Bilt Mastercard is its ability to earn points on rent payments, which can be a game-changer for renters. This perk is especially valuable when combined with the card's doubled earning rates on the first of the month, excluding rent payments.

Here's a quick comparison of the Bilt Mastercard's earning rates:

Ultimately, the Bilt Mastercard is a solid choice for renters who want to earn rewards on their rent payments, but it's essential to consider your overall card rewards strategy to maximize its value.

Many experts agree that a thorough comparison of features is essential before making a decision. This is reflected in the comparison chart provided earlier, which highlights the differences between the top-rated products.

Some experts emphasize the importance of considering the long-term costs of ownership. As mentioned in the article, "a product with a higher upfront cost may actually be more cost-effective in the long run."

A common misconception is that the most expensive product is always the best. However, as noted by one expert, "the cheapest option is not always the best value, but it's also not always the worst option."

Ultimately, the decision comes down to individual needs and priorities. By weighing the pros and cons of each product, individuals can make an informed decision that meets their specific requirements.

The Bilt Mastercard offers a unique rewards system that earns Bilt Points for rent payments, without the usual credit card transaction fees. This means you can earn rewards without sacrificing your hard-earned cash.

The card has decent earning rates on dining and travel purchases, making it a great option for frequent travelers. You can redeem your points for travel, fitness, future rent payments, or saving for a down payment.

If you pay your cellphone bill with the Bilt World Elite Mastercard, your phone is covered up to $800 for damage and theft, with a $25 deductible. This can be a huge relief if you're prone to accidents or theft.

Purchases of up to $10,000 made with your Bilt World Elite Mastercard may be covered for the first 90 days from damage or theft. This is a great perk for big-ticket items.

Here are some key benefits of the Bilt World Elite Mastercard:

The Bilt Mastercard is a great option for renters and annual fee-averse travelers. Its ability to earn Bilt Points for rent payments without fees is a standout feature.