Personal Finance News
Bilt Partners with Flying Blue for Rewards on Rent for Cardholders
Those with the Air France/KLM rewards credit card can now earn bonus miles when paying rent via the Bilt platform.
About the Bilt/Flying Blue Rent Payment Offer:
Bilt is expanding its rent payment platform to give those with the Air France KLM Visa Signature Credit Card greater mileage rewards. Now, those cardholders can earn a total of 3 Flying Blue miles per $1 spent on rent payments made using Bilt. This earning rate is capped at $50,000 a year (up to 75,000 bonus miles since the Air France KLM card earns 1.5x miles). After that, rent purchases through the platform will only earn 1.5 miles per dollar spent.
Note that, although Bilt’s line-up of 2.0 credit cards now supports mortgage payments, this offer is only available on rent payments. Also, a 3% transaction fee on rent payments made with Bilt.
This new offer is similar to one launched in partnership with Alaska Airlines/Hawaiian Airlines Atmos. Those with the Atmos Rewards Ascent Visa Signature or Atmos Rewards Summit Visa Infinite card can also earn 3x Atmos Rewards points on rent purchases up to $50,000 per year (earning 1x after that).
Meanwhile, Bilt now has three rewards credit cards that earn rewards on housing payments as well as everyday spending. The no-annual-fee Bilt Blue card also earns 1x points on all purchases, while the $95 annual fee Bilt Obsidian earns 3x on your choice of either dining or grocery purchases, plus 2x on travel and 1x on all other purchases. Lastly, the Bilt Palladium earns 2x on all purchases and carries an annual fee of $495.
My Thoughts:
For Bilt credit card customers like me, it can be easy to forget that the majority of the company’s revenue comes from other means. That includes ventures like this that allow those with all sorts of credit cards to pay rent via the platform. It’s a smart move for Bilt as they’ve already created the infrastructure, so they might as well widen its reach.
But is it a good deal for consumers? That depends on how you value Flying Blue miles. With the 3% fee on rent payments made with this option, you’d need to get at least 1¢ per mile in order to break even. The good news is that sites such as The Points Guy value Flying Blue miles at around 1.3¢ each, so there is some room for potential profit. That set, if you exceed the cap and your rating drops to 1.5x, then it’s almost certainly not worth it.
Now that Bilt has added this offer for Flying Blue cardholders, I’m interested to see what other programs could see similar arrangements as the platform continues to expand.