Bilt Extends Rent Day Promotion for Black Friday and Beyond
In October, the unique Bilt Mastercard unveiled its inaugural Rent Day promotion, which included the opportunity for cardholders to earn double rewards and nearly all of their purchases on the first of the month. That deal returned in November alongside the addition of a United Airlines status match offer and more. Now, just in time for Black Friday, Small Business Saturday, and Cyber Monday, Bilt is extended December’s Rent Day to start a week early.
From November 25th through December 1st, Bilt Mastercard customers can earn double points on all eligible purchases — except for rent. This means that cardholders will be able to earn 6x on dining purchases, 4x on select travel purchases, and 2x on all other purchases. These points can then be redeemed toward future rent payments, travel bookings via BIlt’s travel portal, transfers to travel partner brands, or even down payments on home purchases. However, the value of these points will vary depending on the redemption option picked, ranging from 0.55¢ per point for rent payments, 1.25¢ per point for travel portal purchases, and 1.5¢ per point toward down payments on houses.
This extended Rent Day promotion is the latest overture from the buzzworthy Bilt Mastercard. Officially launching to all in March of this year (following a beta rollout to waitlist members), the card’s main claim to fame is that it allows customers to earn credit card rewards when making rent payments. Furthermore, Bilt provides users with ACH account and routing numbers, enabling them to avoid fees that are typically charged for using credit cards on rent payment portals.
Behind the scenes, Bilt has also grown as additional investors have come aboard. Last month, the company closed a $150 million growth round led by Left Lane Capital with participation from Smash Capital, Wells Fargo (which issues the Bilt Mastercard), and more. That round valued Bilt at $1.5 billion.
Overall, this latest offering from Bilt continues to show the company and the card’s ability to innovate. While there are some downsides to the Bilt Mastercard — such as the lack of a proper sign-up bonus and the requirement to make at least five purchases per statement cycle in order to earn points — additions such as the travel portal, the new homebuying tool, and now an extended double points promotion for Rent Day have proven the card’s worth. In turn, Bilt has also shown itself to be a FinTech to watch.