Should you pay your rent with Bilt? We crunch the numbers

11.09.2024 - 02:07 / thepointsguy.com

In 2021, Bilt Rewards launched a points program to help renters build credit and earn points on rent payments. Shortly afterward, it debuted a cobranded credit card.

The concept of paying rent with a credit card is not new; however, it typically involves fees of 2%-3%, which can eat up the value of any rewards you might attain in the process. However, Bilt Rewards doesn't charge fees on rent payments if you live in a participating property or if you pay with the Bilt Mastercard® — even if your landlord doesn't accept credit cards.

Plus, you can earn transferable points on these payments and other purchases with the Bilt Mastercard, which is issued by Wells Fargo and has no annual fee (see rates and fees).

Here's a look at how you can earn and redeem Bilt Rewards Points, as well as considerations for whether using the Bilt Mastercard is worth it.

When you pay your rent with Bilt, you earn 1 point per dollar on rent regardless of your Bilt status tier (more on this later). For instance, if you have a $3,000 monthly rent payment, you'll earn 3,000 points per month with no fees when paying through the program.

You can only earn up to 100,000 points on rent per year, but you'd have to spend $8,333 or more in monthly rent to reach this cap. Thus, it will not affect the majority of renters. Plus, there's no cap on the number of points you can earn on everyday purchases when you swipe your Bilt Mastercard.

You don't need the Bilt Mastercard if your landlord is part of the Bilt Rewards Alliance, which currently comprises over four million units and includes some of the top real estate companies across the U.S., such as Brookfield Properties, Equity Residential, Starwood Capital Group and Greystar.

However, if your landlord is not an affiliate, then you'll need the Bilt Mastercard to use the app to send a monthly rent check or a direct deposit through your landlord's online portal, and you can earn points that way.

I rent from a mom-and-pop landlord, so I use the card's check-mailing feature, which arrives on time at my landlord's address every month.

Beyond just rent, the Bilt Mastercard awards 3 points per dollar on dining, 2 points per dollar on travel and 1 point per dollar on other purchases. This is in addition to earning 1 point per dollar on rent payments, subject to a limit of 100,000 points per year earned from rent payments. You can read the terms of the Bilt rewards and benefits here.

It's also possible to earn double points on the first day of the month through Bilt's "Rent Day" promotion. This applies to non-rent spending and is subject to a 10,000-point limit each Rent Day. However, this cap is changing to a 1,000-point limit on Oct. 1.

These earning categories sound simple enough on paper, but