6 reasons I love my Bilt Mastercard as a renter in the most expensive city in the US

13.10.2023 - 18:05 / thepointsguy.com

Paying rent has been a part of my life since I started living in an off-campus house in college. It was like the first big adult payment I was responsible for. I would usually pay my rent via check or online portal to the landlord or management company, and it felt like that money was disappearing into a black hole, never to be seen again.

Then, one day, a coworker gave me all the intel about a fairly new credit card product from Wells Fargo: the Bilt Mastercard®.

Now, I have an open love affair with my Bilt card. When asked what my favorite card in my wallet is, my typical response is: "Get the Bilt card because you can pay rent on it!" Apart from that, I have picked some standout reasons why you should add the Bilt Mastercard to your wallet.

The first day of the month means one thing for renters: "Your rent is due."

But Bilt has almost made the first of the month something to look forward to versus a day of dread. With Bilt Rent Day, I get double the points in all categories (except on my rent payment). On most days of the month, you'll earn 3 points per dollar spent on dining, 2 points per dollar spent on travel and 1 point per dollar spent on other purchases, including rent payments.

However, on the first of the month, those categories double in points, earning you 6 points per dollar spent on dining, 4 points per dollar spent on travel and 2 points per dollar spent on other purchases (excluding rent payments). So, the first day of the month is when I reload my Starbucks gift cards, make a larger deposit on my laundry app, go out to dinner with my friends and pay all my bills — all because I know I am earning twice as many points.

Keep in mind, though, that you need to use your Bilt Mastercard at least five times each statement period to earn points.

The Bilt Mastercard is the only credit card on the market that effectively allows cardholders to circumvent the high transaction fee of paying rent on a credit card. The typical processing fee on rent payments is 2% to 3%, which can add up every month and cost you money.

Since I live in one of the most expensive cities in the world — New York City — being able to get a return on my rent has made paying it, dare I say, an enjoyable experience.

Over the past decade, I've paid rent across two states, from hundreds to thousands of dollars each month. I cringe now thinking about the potential points I lost over those years. Now, I feel less of a pinch paying my rent because I can earn hotel or airline points in the process.

Before applying for the card, I asked my friend what the annual fee is for it. I might have broken the sound barrier when I ran back to my laptop to apply immediately once I heard that there's no annual fee (see rates and fees).

Even if