Credit Cards

Cathay Pacific Joins as Bilt Rewards Transfer Partner

The Bilt Rewards network just got a little larger. This week, Bilt announced that Cathay Pacific has joined as a transfer partner. As a result, users will now be able to convert their Bilt Rewards points into Asia Miles at a 1:1 rate. Cathay joins a growing list of other travel partners, including American Airlines AAdvantage, Emirates Skywards, KLM-Air France FlyingBlue, World of Hyatt, and IHG Rewards. Alternatively, customers can also redeem earned points toward future rent payments, Bilt Collection items, and more.

Launched nearly one year ago, Bilt Rewards is a program that allows customers to earn points when paying their rent. Currently, these rewards are available to those living at properties that are part of the Bilt Alliance, which includes more than two million rentals across the country. However, Bilt also offers a rewards credit card that not only enables cardholders to earn 1% back on their rent payments but to also use the card for rent regardless of whether their landlord accepts credit cards or is part of the Alliance. The Bilt Mastercard also earns 2x points on travel purchases and 3x points on dining, although the 1x on rent is capped at a total of 50,000 points ($50,000 in spending) per year. Additionally, customers need to make at least five purchases a month with their card in order to earn the 1x on rent rewards.

Commenting on the new partnership with Bilt, Cathay Pacific Airways Director of Customer Lifestyle Paul Smitton said, “Cathay Pacific constantly strives to make global exploration more accessible for travelers. Bilt Rewards makes it easy for renters to earn points and fly around the world just by paying their largest monthly expense.” Smitton continued, “We are excited to be an early transfer partner of Bilt Rewards and look forward to welcoming renters to the skies.”

The addition of Cathay Pacific to Bilt’s transfer partner line-up is just the latest development for the fast-growing platform. In March, the Bilt Mastercard officially became available to all as investor Wells Fargo became the card’s issuer. Prior to that, last fall, Bilt raised a $60 million growth fund round from not only Wells Fargo and Mastercard but also Blackstone, AvalonBay Communities, Douglas Elliman, and Starwood Capital Group among others.

Although the Bilt Mastercard may have seemed like a gimmicky unknown to some when it debuted, the option has only grown more attractive and disruptive since. Plus, with the backing of Wells Fargo, the option has a serious leg-up on offerings from FinTechs and other lesser-known issuers. It’s also worth pointing out that Bilt Reward’s marketing that suggests paying rent can help consumers cover their next vacation is fairly brilliant and is backed up by the number of travel partners it now counts among its ranks. For all of those reasons, the Bilt Mastercard continues to be one of the most intriguing credit cards available today.