Credit Card Reviews
2025 Bilt Rewards Mastercard Review
I remember vaguely hearing about Bilt several years ago, before being formally introduced to the Bilt Rewards Mastercard with the announcement that Wells Fargo would be issuing the card. What interested me in the product was that, at long last, it would reward cardholders on one of their largest monthly expenses: rent. Looking more closely at the card, I found that I had a lot of questions — and ones that I likely couldn’t answer unless I got the card for myself. So, that’s exactly what I did.
Now that I’ve added the Bilt Mastercard to my wallet and had the chance to explore different aspects of this unique option, do I think it’s a good pick? Let’s go through what the card has to offer, what some of the pros and cons are, and get my overall thoughts on the Bilt Mastercard.
Bilt Mastercard
Bilt Mastercard: A Great and Unique Rewards Option for Renters
4.5
Annual fee
None
Welcome bonus
None (officially)
Rewards
3x points on dining, 2x points on select travel, 1x points on rent payments (up to 100,000 points per year), 1x points on all other purchases
Bilt Mastercard Review for Renters
The Bilt Mastercard is unlike any other card on the market as it offers 1x points on rent payments with no-fee rent payment options. Plus, it’s continually been improved with new and interesting ideas such as their Rent Day promotions. That said, who don’t rent may not see as much benefit from the card. Additionally, in order to get the most value from points, cardholders will want to redeem them for travel.
Pros
- Earns 1% back on rent payments – with no fees
- Points can be redeemed for up to 1.5 cents each (1.25 cents via travel portal)
- Points can be transferred to travel partners
- Rent Day promotions on the 1st of each month
Cons
- Statement credit redemption option value is low
- Less effective for non-renters
- 2x on select travel category is lacking
- No official welcome bonus
What is the Bilt Rewards Mastercard and What Makes it Unique?
What is the Bilt Rewards Mastercard and What Makes it Unique?
About Bilt Rewards
The Bilt Mastercard is actually a subset of the Bilt Rewards program. Apparently, the Bilt Rewards Alliance is a collection of apartment management companies, allowing tenants on select properties to earn points just for paying their rent. Meanwhile, those of us whose apartments aren’t part of this alliance can pick up the Bilt Mastercard.
About Bilt Rewards
The Bilt Mastercard is actually a subset of the Bilt Rewards program. Apparently, the Bilt Rewards Alliance is a collection of apartment management companies, that allow tenants on select properties to earn points just for paying their rent. Meanwhile, those of us whose apartments aren’t part of this alliance can pick up the Bilt Mastercard.
Rewards
Before I go into detail about the different rewards categories featured on the Bilt Mastercard, let’s take a brief overview of what they are:
- 1x on rent payments (up to 100,000 points per calendar year)
- 3x on dining
- 2x on select travel (direct purchases from airlines, hotels, etc. – or using the Bilt Travel portal)
- 2x on Lyft
- 2x on Walgreens-branded products
- 1x on all other purchases
Normally, I wouldn’t list a 1x category at the top — but that category happens to be what makes Bilt unique. With the card, customers can earn 1x points on rent payments. This is done using a clever method I’ll discuss more below, which also helps cardholders avoid the fees that typically come along with paying rent via credit card. Since this can be quite a lucrative benefit, Bilt does put a cap on this, allowing you to earn up to 100,000 points per calendar year via rent payments.
Next up, the Bilt Mastercard also features a solid multiplier on dining. The 3x applies to purchases at restaurants, fast food establishments, etc. One thing that’s not exactly clear is whether this also applies to delivery apps, such as Uber Eats or Grubhub. Nevertheless, this category is pretty good for a no-annual-fee card.
The travel category with Bilt is a bit confusing and, honestly, not as broad as the generic “travel” tag on the site might lead you to believe. Because of this, here’s the exact description from the Bilt Rewards Mastercard terms:
2 rewards points (1 base point plus 1 bonus point) are earned per $1 spent on qualifying net purchases made directly at retailers whose Merchant Code for Mastercard is classified as airlines, hotels, motels, resorts, cruise lines, and car rental agencies.
Funny enough, not mentioned in that write-up is the fact that you can also earn 2x points on travel booked via Bilt’s own travel portal (which is powered by Expedia). To be fair, this feature did launch after the card, so that might be why it’s excluded. Either way, while confusing, it’s still a fairly handy multiplier — especially when the travel portal option is added. Then again, with so many flat 2% cards available, this category may be moot depending on what else is in your wallet.
One important note is that, in order to earn any points during a given billing cycle, you must make at least five transactions on the card during the month. Presumably, this is to prevent people from using the card purely for rent and “sock drawer-ing” it otherwise. I’ll share my thoughts on this policy a bit later — but, for now, just know this rule exists.
Paying Rent
As I mentioned, in addition to rewarding renters with 1x points on rent payments, the Bilt Mastercard offers ways to pay rent while avoiding credit card payment fees. If you’re not familiar, although many rental portals will allow tenants to make payments with credit cards, they often tack on a steep fee that would more than nullify the 1x you’d get in return from Bilt. For example, the fee when I was renting ended up being around $36 (a percentage of my rental amount) if I wanted to use a credit card. So, how does Bilt avoid this?
Instead of using your actual credit card number on your landlord or management company’s rent payment portal, Bilt will provide you with an account and routing number akin to a checking account. In fact, to your platform, it will look as though you are indeed linking a checking account and payment will be made via ACH. Thus, when you use this option, no fee should be applied.
As clever as this is, I did run into one small hiccup. When linking the account to my rental portal, I was informed that the portal would be making two test deposits for verification. Looking at Bilt’s FAQ, it stated that I’d receive an email when test deposits arrived in my account. Unfortunately, no such notification came and I couldn’t find anything on the site that showed them. Luckily, shooting a quick email via support resulted in me getting a quick reply with the deposit amounts, allowing me to complete the linking process. While it all worked in the end, I do wish this was a bit more streamlined lest others go through the worry that I did.
If your landlord doesn’t accept ACH payments, Bilt says they can mail a check on your behalf instead, still allowing you to earn points. I didn’t have a chance to personally try this option so I can’t speak on exactly how it works. However, it may be worth looking into beforehand if that does end up being your only available route.
In 2025, Bilt made an update to how rent payments work. Although you’ll still be provided an account and routing number, you’ll first need to authorize your payment by entering your estimated rent. The good news is that there is an option to auto-authorize online payments going forward, but you’ll still need to authorize it the first time.
On that note, those without the Bilt Mastercard can also now pay rent using a credit card. Although you’ll earn 1x points on rent with this option, you will need to pay a transaction fee equal to 3%. Therefore, it’s probably not worth it.
Bonuses
At the time that I’m writing this, there is no public welcome bonus offered for the Bilt Mastercard. That said, once my card was activated, I got a text from BIlt saying that I could earn 5x points on eligible purchases (read: not rent) for the five days. Sure enough, my purchases during that time did yield bonus points. It’s unclear whether this is standard or just occasional, but it was a nice surprise.
Bilt Rewards Status
Part of the Bilt Rewards program involves different status tiers. Everyone starts at the Blue tier but those who earn 5,000 points or spend $10,000 on their card in a year can earn Silver status, those who rack up 125,000 points or spend $25,000 in a year gain Gold, and those who amass 200,000 points or spend $50,000 can move up to Platinum. At each level, more perks come in — including earning interest on points, gaining larger transfer bonuses on select Rent Days, and more.
I was happy to be Silver Status after my first year so I could check out the “interest earned on points” feature. Unfortunately, I also stopped renting around the same time that I reached this status, so I didn’t have many points to earn interest on. Nevertheless, I can say that you’d need to have a significant number of points to make this interest truly intriguing.
As mentioned, these days, the biggest benefit to having status is the ability to claim larger transfer bonuses and other perks on Rent Day. Speaking of Rent Day.
Rent Day
Earn Bilt Rewards
Use the button below to start earning rewards for paying your rent as well as dining, travel, and more.
Bilt RewardsAnother feature that was great but has since been nerfed to some degree is the double points deal. On the first of each month, Bilt Mastercard customers can get double points on all non-rent purchases. This means 6x on dining, 4x on travel, and 2x on all other purchases sans rent. Alas, Bilt has since capped this deal at 1,000 points per Rent Day, so it’s not quite as exciting as it once was. Still, a bonus is a bonus.
With past Rent Days also featuring bonus point spending categories, enhanced redemptions, and more, it’s always worth keeping an eye out for these monthly deals.
One of the biggest perks of the Bilt Mastercard in recent years has been its monthly Rent Day promotions. While the benefits vary from month to month, they often feature attractive transfer bonuses, allowing members to claim extra points when moving them to select loyalty programs. As mentioned, these offers are typically tiered based on status. For example, Blue members may see a 25% bonus, whereas Silver gets 50%, Gold gets 75%, and Platinum earns 100%.
The Future of Bilt
2025 is shaping up to be a big year for Bilt. That’s because the company is expected to make some major expansions and updates. And while these haven’t all come to fruition at this point, I do want to highlight some of these plans.
First, Bilt is planning to expand beyond rent and allow customers to earn points on mortgage payments as well. Seeing as I now own a home, I’m really looking forward to this update. But, again, we don’t yet have all the details.
Next, Bilt has been teasing the possibility of making some changes to the Bilt Mastercard and/or introducing another tier of card. In fact, they recently surveyed cardholders about some possibilities. You can read some of the details of that survey, but we haven’t heard anything since those responses were sent.
Lastly, on the heels of introducing an interesting partnership with Walgreens that includes the ability to identify FSA/HSA qualifying purchases, Bilt acquired the startup Banyan. With Banyan technology, Bilt can get receipt-level transaction details from select merchants. In turn, the company says it has some intriguing ideas in the works that I’m very curious to see come to fruition.
All of this is to say that I fully expect to update this review plenty more times in the coming weeks and months.
Redemption Options with the Bilt Mastercard
Redemption Options with the Bilt Mastercard
Transfer Partners
One major way that Bilt Mastercard customers can utilize their earned points is to transfer them to a growing list of travel partner brands. These include a number of airlines along with a couple of hotel chains. Here’s the current line-up as of May 2025:
- British Airways
- United Airlines
- Southwest Airlines
- Iberia
- Aer Lingus
- Avianca
- TAP
- Alaska Airlines
- Virgin Atlantic
- Turkish Airlines
- Emirates
- Cathay Pacific
- Air France/KLM
- Air Canada
- Japan Airlines
- Hilton
- Accor (3:2)
- Marriott
- Hyatt
- IHG
All of these transfer options (except for one) are available at a rate of 1:1. So, if you have 15,000 Bilt Rewards points, you could turn them into 15,000 points with any of the above-mentioned loyalty programs. The noted exception here is Accor Live Limitless, which transfers points at a rate of 3:2 (so 3,000 Bilt Points transfers to 2,000 ALL points).
To begin the transfer process, you’ll first need to link your loyalty account using the Bilt app. Oddly, this functionality is not available on the site. In the event you don’t already have an account, you can also create one. Once an account is linked, you can select how many points you’d like to transfer.
On that note, as a Blue member, you’ll only be able to transfer points in denominations of 2,000 points. However, if you reach Silver or higher, you’ll be able to do denominations of 1,000 points instead, offering greater flexibility.
Rent Payments or Statement Credits
With a card that earns points for rent payments, it only makes sense that you could redeem earned points toward rent payments. Sure enough, that is a feature of the Bilt Mastercard. Sadly, though, it’s kind of a rip-off. My rough math has prevented me from landing on exactly what the exchange rate for this one is — but it’s not very good, coming in at 0.55¢ per point. More recently, Bilt expanded this feature to allow customers to apply points for generic statement credits as well, but this comes at the same 0.55¢ rate.
Travel Portal
In the Bilt app, customers can browse a number of items that are part of the Bilt Collection. From home goods to artwork, there are some unique and interesting items available, with each bearing a set number of points you’ll need to redeem in order to claim it.
As far as value goes, it kind of depends on the item. If you compare the cash price (which is now an option) to the point redemption, it may seem as though you’re getting a good deal. At the same time, though, those cash prices can be a bit steep, leaving me to wonder if the items are actually worth that. I suppose the answer to that question will depend on your taste and budget.
Bilt Collection
In the BIlt app, customers can browse a number of items that are part of the Bilt Collection. From home goods to artwork, there are some unique and interesting items available, with each bearing a set number of points you’ll need to redeem in order to claim it. Since Collection items have their own prices, it’s hard to say what the actual per-point value is with this option. But, if you see something nice and determine it’s worth it to you, who am I to say it’s a bad idea?
Amazon and Lyft
Like a few other cards on the market, Bilt Mastercard customers can link their account to Amazon and redeem their points at checkout. Sounds cool, right? Well, the downside here is that the points redeemed on Amazon are only valued at 0.7¢ each. While convenient, this option isn’t a very good value, so I’d stay away if possible.
Similarly, you can now use points on Lyft. But, again, this is only 0.7¢ per point, so it’s not recommended.
Home Down Payments
One of the redemption options touted by Bilt from the beginning was the ability to redeem points toward a down payment on a house. At the time, the details on this were pretty opaque — to the point that I wasn’t initially even sure what the value was for this option.
Since then, however, I’ve actually had a chance to try this out for myself. Incidentally, this also happens to be one of the best values for your Bilt Points as you’ll earn 1.5¢ each when using them toward a down payment or closing costs. The process was also pretty simple, with my reimbursement coming within days.
Gift Cards
Bilt now allows members to redeem points for gift cards to various merchants. Some examples include Starbucks, Apple, Walmart, Adidas, Uber (ironic given the Lyft partnership), and many more.
Once again, this option values points at around 0.7¢ each. Thus, unless there’s a bonus, it’s probably not worth it.
Student Loan Payments
The newest redemption option for Bilt is not only unique but offers a decent value. Now, members can redeem points toward student loan payments, with each point valued at 1¢. So, 10,000 Bilt Points could be a $100 loan payment.
At this time, only a few select loan servicers are eligible for this option:
- Nelnet
- MOHELA
- Sallie Mae
- Aidvantage
- Navient
However, Bilt says it intends to support more servicers in the future.
My Thoughts on Bilt So Far – Pros and Cons
My Thoughts on Bilt So Far – Pros and Cons
My Thoughts on Bilt So Far – Pros and Cons
Pro: No Annual Fee
This one’s simple: with no annual fee to worry about, the Bilt Mastercard instantly becomes easier to recommend.
Con: No Welcome Bonus (Probably)
One of the best parts of applying for new credit cards is getting a sweet welcome bonus. Well, with the Bilt card, you probably won’t enjoy such perks. This could change in the future or you could get a bit of a surprise as I did, but it’s no guarantee.
Pro: Rent Payment System Works Well
I have to say that a major reason why I wanted to get the Bilt card before trying to review it was that I wanted to try out the rent payment system for myself. Well, I’m very happy to report that I’ve been impressed with the solution the card came up with. Aside from that micro-deposit hitch, it’s been smooth sailing for me and I love being able to pay with the card while avoiding any fees. This part of the card is a definite win.
Having said that, I haven’t yet tried the updated rent payment authorization system. It does seem pretty straightforward and Bilt has addressed some of the concerns members had ahead of the feature’s launch. All in all, though, if this new system is part of what will allow them to offer rewards on mortgage payments soon, I’m all for it.
Con: Five Purchases a Month are Required to Earn
Earning 1x on rent is a cool, unique perk of the Bilt Mastercard — but needing to make five purchases per month in order to earn any points during that period is a unique pain. Initially, I thought I might struggle to hit this requirement each month. However, that hasn’t been the case at all as it’s easy to sub in a 3x card for my 4x Amex Gold if the price of the purchases isn’t that high. Still, I do wish this wasn’t even something I needed to worry about at all and I feel others will see things similarly.
Pro: Physical Card is Metal
When my Bilt card arrived in the mail, I was surprised to learn the card was actually made of metal. Had I known this, I probably would have called it out on my list of such cards. C’est la vie. Anyway, the card isn’t quite as heavy as my Amex Platinum or Karat card, but it feels quite nice nonetheless.
Con: Bad Redemption Rates on Some Options
Outside of the travel portal and transfer partner options, Bilt’s redemption rates are definitely lacking. Redeeming points for future rent payments would seem like a no-brainer for the card, but, by cutting the rate to 0.55¢ per point, there’s no way I can recommend that — especially when the travel option literally more than doubles the value. Meanwhile, the Bilt Collection has some interesting options, although it’s hard to say whether the value of these items is actually any good.
If I could make only one change to the Bilt card, I think I’d have to go with “introduce a 1¢ per point cashback option.” Honestly, I didn’t even realize this wasn’t a thing before applying. So, learn from my mistake and think this one through if travel isn’t your thing.
Pro: 1.25¢ Per Point with Travel Portal
Similar to the Chase Sapphire Preferred, the Bilt Mastercard gives cardholders the option of increasing their point value by redeeming via a travel portal. In turn, those who use this redemption option exclusively can effectively earn 1.25% back on rent payments, 2.5% back on some travel purchases, and 3.75% back on dining. That’s pretty darn strong for a no annual fee option.
Con: Best Bonuses Now Reserved for Top-Tier Status
When Rent Day first launched, it offered some truly awesome transfer bonuses. Sadly, those crazy-good deals are now only for those with the highest Bilt status. While I understand the need for this, it doesn’t make it any less disappointing. Of course, if you can achieve top-tier status, then this is just another great perk of the card.
Final Thoughts on the Bilt Rewards Mastercard
Final Thoughts on the Bilt Rewards Mastercard
Overall, when it comes to the BIlt Mastercard, I’m of two minds. One of those minds is extremely interested in the concept of the card, impressed with the rental portal, and pleased with rapid-fire additions to the card — including a 1.25¢ per point travel portal redemption option. Yet, my other mind is a bit annoyed by the five transactions requirement, lack of a sign-up bonus, and poor redemption value of non-travel options. So which mind wins out?
Personally, I think the Bilt card makes a lot of sense for me. The ability to pay rent with a card and score rewards earns it a place in my wallet while that travel portal option makes it icing on the cake. And, as for that five-transaction nuisance, the other multipliers the card offers make it easy enough to make those transactions without sacrificing much opportunity cost.
For others, the decision to get the card may be more complicated. At the top of the list, those who don’t have rent payments to make should almost assuredly skip this one (at least until the mortgage option rolls out). Additionally, if you don’t plan on using your points for travel, then you’re not going to be getting very good value from this card either. And, if you’re a welcome bonus hunter, I’m sure you’ve already stopped reading about two dozen paragraphs ago.
Ultimately, the Bilt Rewards Mastercard is a fascinating card and I’m excited to see how it continues to develop. On top of that, the card in its current form could be a good pick for the right person. Yet, the card isn’t for everyone — so don’t be too wooed by its unique aspects and be sure to really take a look at what it offers before jumping on board.
Frequently Asked Questions About Bilt Rewards
Q:
Is Bilt Rewards legit?
A:
Yes, Bilt is a company that partners with a number of property management companies. Additionally, Wells Fargo, Mastercard, and Blackstone are all among the major companies that have also invested in Bilt.
Q:
What is Bilt Rewards?
A:
Bilt Rewards is a loyalty program that allows residents at Bilt Alliance properties to earn points when they pay their rent. Additionally, those outside Bilt Alliance properties can earn rewards — including 1% on rent — with the Bilt Mastercard.
Q:
Is Bilt Rewards worth it?
A:
For renters, the Bilt Rewards program can be beneficial as it allows them to redeem rewards for travel, future rent payments, or even a down payment on a house. As for the Bilt Mastercard, those who don’t live at Bilt Alliance properties may find value in their card’s ability to earn them rewards on rent payments while avoiding fees.
Q:
How much are Bilt points worth?
A:
The value of Bilt points depends on how they’re redeemed. Points can be transferred to travel partners at a 1:1 rate, redeemed via Bilt Travel for 1.25¢ each, used for rent payments at a value of 0.55¢ each, or cashed in toward a home down payment for a value of 1.5¢ each.
Q:
How do I use Bilt points to pay rent?
A:
Bilt customers can log into their account and select the Pay Rent tab. There, they can toggle on the “Pay with points” option. Note that these redemptions currently value Bilt points at 0.55¢ each.
Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. (Note: advertising relationships do not have any influence on editorial content. Advertising compensation allows Fioney to provide quality content for free. All editorial opinions are those of the individual author and/or Fioney.)
Click for more info on Bilt Rewards and Benefits and Rates and Fees.
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