Bilt Mastercard® review: Innovative rewards for renters and travelers
The Bilt Mastercard stands out with its unique ability to earn Bilt points on rent payments without fees, along with travel benefits, making it a valuable option for renters and travelers.
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Kevin Payne is a finance and family travel expert. He writes about credit cards, travel, student loans, saving money, homeownership, careers, and entrepreneurship. His work has appeared in Forbes Advisor, The Ascent, FinanceBuzz, Slickdeals, Student Loan Planner, and more. He is working toward accreditation as an Accredited Financial Counselor (AFC).
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Editor
Gabriela Walsh is a Certified Educator in Personal Finance® and a personal finance editor at Bankrate. Her previous work experience includes various editorial positions at FinanceBuzz. She combines her understanding of language and literature with her commitment to delivering content that empowers others to build healthy money management skills.
Updated September 11, 2024, 9:05 AM EDT
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The Bilt Mastercard® offers a unique take on credit card rewards. The card's main draw is that it allows cardholders to make rent payments using a credit card without paying transaction fees typically associated with doing so. Not only does the Bilt card help you avoid these costly fees, but you can also earn Bilt points on rent payments in the process.
While this no-annual-fee card seems to only fit a niche market, the Bilt Mastercard features a formidable array of benefits, including an impressive collection of travel transfer partners, making the card an attractive option whether or not you're a renter.
Fox Money rating: 8.4/10
The Bilt Mastercard is an excellent no-annual-fee card and may be worth a spot in your wallet regardless of whether you're a renter, especially if you take advantage of "Rent Day" promotions.
How the Bilt Mastercard works
Launched in 2021, the Bilt Mastercard marked a new direction in credit card rewards — earning rewards on rent payments while avoiding fees. One of the simplest ways to boost your credit card rewards balance is to leverage your largest expenses.
For millions of Americans, rent is their biggest expense. According to a 2024 report from the Joint Center for Housing Studies at Harvard University, in 22.4 million renter households, rent and utilities account for more than 30% of income.
The Bilt Mastercard earns points on rent payments without the transaction fee. Cardholders can create a Rent Rewards account and make payments online or through the Bilt Rewards App. Because of Bilt's banking partnership with Evolve Bank and Trust, the payment is processed like a check with unique routing and account numbers.
If your rental property management company is part of the Bilt Rewards Alliance, you'll earn 1X points on rent payments up to annual limits. If your property management company is not part of the Bilt Rewards Alliance, you can still earn 250 points on monthly rent payments.
Cardholders also earn points in other categories, like travel and dining. However, there are some limits and requirements tied to points earning. Bilt Rewards offers several redemption options, including transfers to 16 airline and hotel partner programs, such as Alaska Airlines, United MileagePlus, and World of Hyatt.
Pros
- No annual fee
- Earn rewards on rent payments
- Wide array of travel transfer partners
- Several travel protections
Cons
- Five card transactions are required per statement period to earn rewards
- No welcome offer
- Relatively low bonus reward rates compared to other cards
Bilt Mastercard rewards
The Bilt Mastercard offers several ways for cardholders to earn and redeem rewards. Here's a look at how.
Earning rewards
As mentioned, the real draw of the Bilt Mastercard is its ability to earn rewards on rent payments without the transaction fee, but it's not the only way to earn rewards with this card. With the Bilt Mastercard, you'll earn:
- 3X points on dining
- 2X points on travel
- 1X points on rent payments (up to a maximum of 100,000 points per year)
- 1X points on other eligible purchases
You must use your card five times per statement period to earn reward points on purchases made during that time (see rewards and benefits). If you don't meet this transaction requirement, you'll earn a flat 250 points on rent payments. Also, rent payments can only be made on one rental property per month.
Rent Day
On the first day of every month, Bilt throws a party of sorts for cardholders called Rent Day. On Rent Day, cardholders can earn double points on purchases except rent payments up to 10,000 points:
- 6X points on dining
- 4X points on travel
- 2X points on other eligible purchases
Rent Day also features various perks and curated member experiences. Past perks have included transfer bonuses to select Bilt partner programs, giveaways, special bonus earning rates in select categories, complimentary SoulCycle rides, and Lyft ride credits.
Redeeming rewards
The Bilt Rewards Program offers several ways to redeem points earned with the Bilt Mastercard. You can redeem Bilt points to book flights, hotels, rental cars, and activities through Bilt's travel portal. When redeemed through the portal, points are worth 1.25 cents each.
For example, 10,000 points would be worth $125 when redeemed for travel. You can also redeem your points for fitness classes at Bilt fitness partner locations. Partners include SoulCycle, Rumble, and Pure Barre.
You can earn points on rent payments and use them to cover rent payments. Another unique redemption is the Bilt Collection, a curated collection of art, decor, apparel, and other interesting merchandise. Your rewards won’t expire as long as your account is open and in good standing.
Bilt transfer partners
In addition to the redemptions mentioned above, cardholders can transfer Bilt points to any of Bilt's airline and hotel partner loyalty programs. Currently, Bilt has 12 airline partners and four hotel partners to choose from:
Airlines
- Alaska Airlines
- Avianca Lifemiles
- United MileagePlus®
- Air France/KLM Flying Blue®
- Virgin Red®
- Emirates Skywards®
- British Airways Executive Club
- Cathay Pacific
- Turkish Airlines Miles&Smiles
- Aer Lingus AerClub
- Iberia Plus
- Air Canada Aeroplan®
Hotels
- Hilton Honors
- Marriott Bonvoy™
- World of Hyatt®
- IHG® One Rewards
Points transfer at a 1:1 ratio to any partner. The minimum transfer amount is 2,000 points for members with Blue status and 1,000 for all other status tiers. Transfers are made in 1,000-point increments. Transfers are typically completed within 24 hours.
Bilt Mastercard benefits
With Bilt Mastercard, cardholders can access various benefits, including travel and consumer protections and elite status perks.
Welcome offer
The Bilt Mastercard offers an array of benefits. Unfortunately, a welcome offer is not one of them. Some of the card's unique features and benefits might make up for the lack of a bonus.
Many competitor cards, including those with no annual fee, offer a bonus. Welcome offers are the quickest way to boost your rewards balance off the bat, so if that's your goal, a different rewards card may be a better fit.
Bilt elite status
The Bilt Rewards program features four elite status tiers. Cardholders earn status either through points earned or card spending. When you become a cardholder, you automatically earn Blue status. Each status tier comes with exclusive benefits. Here's a breakdown of Bilt's status tiers:
1:1 point transfers with airlines & hotels (min. 2,000 points) Access to the Bilt Collection Help build credit history with rent reporting | Priority access to Rent Day experiences Higher Rent Day transfer bonuses Earn interest on points | Gold-level Rent Day transfer bonuses Homeowner concierge | Platinum priority access to Rent Day experiences Access to Platinum Member Specialist Support Platinum-level Rent Day transfer bonuses |
Additional perks
As a World Elite Mastercard, the Bilt card has a range of additional benefits, such as added convenience, safety, and security wherever you go. Some of the cardholder benefits include:
- World Elite Mastercard Concierge: Enjoy help from this exclusive concierge service from Mastercard to book dinner reservations or get customized recommendations.
- Trip cancellation and interruption protection: If your trip is interrupted or canceled for a covered reason, you can enjoy up to $5,000 reimbursement for a non-refundable passenger fare booked with your Bilt Mastercard.
- Trip delay reimbursement: You can get reimbursed for certain expenses incurred, like meals, if your trip is delayed more than six hours due to inclement weather and other qualifying reasons.
- Auto rental collision damage waiver: Use your Bilt Mastercard to pay for your car rental and decline the rental company's optional coverage and you'll receive auto coverage for covered damages due to collision or theft for most rental cars.
- Cellular telephone protection: As a cardholder, you get up to $800 of cell phone protection against covered theft or damage when you use your Bilt Mastercard to pay your monthly cell phone bill. Claims are subject to a $25 deductible.
- Purchase security: Card purchases are covered against theft or damage within 90 days of the date of purchase, up to $10,000 per claim.
- Lyft credits: Cardholders who use their Bilt card to pay for at least three Lyft rides in one calendar month get a $5 Lyft credit. This special partner offer is good through September 30, 2025.
- Credit reporting for rent payments: Cardholders can have Bilt automatically report their rent payments to credit bureaus each month.
Bilt Mastercard fees and charges
The Bilt Mastercard has no annual fee. Considering the potential value of rewards earned from rent payments and other purchases and its consumer and travel benefits, the Bilt card has carved out a spot among the top no-annual-fee credit cards currently on the market.
Along with no annual fee, the Bilt card doesn't charge foreign transaction fees on international purchases. These additional fees can add up quickly depending on your travel spending habits. If you regularly travel internationally, a card like the Bilt Rewards card can help save you some money.
How the Bilt Mastercard compares
The Bilt Mastercard earns rewards on rent payments, but there may be better options even if you are a renter. Here are two other rewards credit cards to consider.
Bilt Mastercard vs. Wells Fargo Active Cash® Card
If you have varied spending habits, the Wells Fargo Active Cash® Card might make more sense. It's also a good option for anyone who likes earning rewards but doesn't want to spend time or energy tracking multiple spending categories.
The card earns unlimited 2% cash rewards on all purchases. Unlike the Bilt Mastercard, the Active Cash comes with a welcome offer and a solid intro APR offer. With a 3% foreign transaction fee, it's not ideal for international travelers despite several travel protections included as a Visa Signature card.
Bilt Mastercard vs. Chase Freedom Unlimited®
The Chase Freedom Unlimited® is another no-annual-fee card with big-time cash back earning potential. It has a higher base earning rate than the Bilt Mastercard and bonus rates in popular categories like dining and select travel purchases.
The Freedom Unlimited also has a solid intro APR offer. Similar to the Bilt Card, Chase Freedom Unlimited comes with a few travel protections. Unfortunately, it has a 3% foreign transaction fee, something to keep in mind if you frequently travel.
2X points on travel 1X points on rent payments (up to a maximum of 100,000 points per year) 1X points on other eligible purchases | 3% cash back on drugstore purchases 5% cash back on travel purchased through Chase Travel℠ 1.5% cash back on all other purchases | ||
Trip cancellation & interruption protection Trip delay reimbursement Auto rental collision damage waiver Cellular telephone protection Purchase security Lyft credits Credit reporting for rent payments | Auto rental collision damage waiver Travel emergency assistance services Roadside dispatch Emergency cash disbursement and card replacement Credit Close-Up | Trip cancellation/interruption insurance Auto rental collision damage waiver Credit score monitoring Chase Pay Over Time | |
Who should consider the Bilt Mastercard?
The Bilt Mastercard is best for renters, especially those whose rental management company is part of the Bilt Rental Alliance. With an impressive suite of benefits, especially for a no-annual-fee card, it could be a good option for a wide range of consumers, including anyone looking to avoid extra card fees. With several travel protections and no foreign transaction fees, it's also a decent card for frequent travelers.
The card's main draw is rewards for rent payments, so there are better choices for many homeowners. While it has several perks, other rewards cards may offer higher earning rates that better align with your spending habits.
How we rated this card
Every card review we publish undergoes a rigorous editorial process to ensure accuracy and objectivity. Learn more about our methodology here.
Here are some of the factors that influenced this card’s overall score:
- Rewards: The ability to earn rewards on rent payments without fees is innovative and potentially very valuable for renters. The bonus categories for dining and travel are competitive with other no-annual-fee cards.
- Redemption flexibility: The wide array of transfer partners and the ability to use points for rent make this card stand out in terms of redemption options.
- Annual fee: The Bilt Mastercard has no annual fee, making it accessible to a wide range of users and easy to justify keeping long-term.
- Benefits: For a no-annual-fee card, the Bilt Mastercard offers a solid set of benefits, though they don't quite match premium travel cards.
- Welcome bonus: The card does not offer a welcome bonus, which is a significant drawback compared to many competing cards.
- Rates and other fees: The lack of foreign transaction fees is a plus for travelers, and the APR range is typical for rewards cards.
The bottom line
The Bilt Mastercard is a dream for renters who've longed to earn rewards on rent payments and bypass costly fees and payment restrictions. Whether you rent or not, it's an excellent no-annual-fee rewards card.
As with any credit card, determine your needs and compare card options to find the best fit. Checking your credit score beforehand can help you determine your likelihood of approval before applying.
Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.