8 things to know about the Bilt Rewards Mastercard

Job: 08/02/2023 | February 8, 2023

Since its release in 2021, the Bilt Rewards Mastercard has been a game-changer for renters who love to travel. It’s the only credit card that lets you earn points on your monthly rent payment — up to 50,000 points a year (which could pay for a round-trip flight to Hawaii, for example).

You can use these points like any other travel reward points (such as those from Chase, American Express or Capital One), transferring them to airline or hotel partners or paying for travel directly through a specific portal.

But while the rental points advantage gets all the attention (and deservedly so), the Bilt Rewards Mastercard is more than a one-trick pony.

To really get the most out of this valuable card (one I think every renter should have in their wallet), here are some key things to know about the Bilt Mastercard:

1. There are no annual fees

One of the most important things to consider when opening a new credit card is whether there are annual fees and, if so, whether it makes sense to pay them based on your spending habits and your goals.

Most of the best travel credit cards have annual fees, and for frequent travelers, they’re usually worth it. You can get far more value from a card than its annual fee if you’re an avid traveler who enjoys lounge access, priority boarding, extra checked baggage, or other common perks .

But you don’t have to worry about that with Bilt, as the card currently has no fees. You can earn points on your rental absolutely free!

2. There is also no welcome offer

However, the flip side of no annual fee is that there is no welcome offer on the Bilt Rewards Mastercard either.

Welcome offers (also known as sign-up bonuses) are the points you earn by spending a certain amount within a specified time after opening a credit card. For example, you might be able to earn 60,000 points if you spend $3,000 within the first three months of opening a particular card.

These offers “fund” your points and can often amount to a free return airfare upfront. Welcome offers are so essential to any good travel hacking strategy that I generally advise against signing up for a card unless there is a significant one. The fact that I wholeheartedly recommend the Bilt card, even without a welcome offer, should show you how awesome I think this card is.

3. There is a minimum transaction required to earn points

Perhaps the most important thing to know after opening the Bilt Mastercard is that you must make a minimum of five transactions each statement period to earn points. This goes for all points, including the points you will receive for paying your rent.

This means that if you don’t make five purchases on your card during that time, you won’t earn any points, even if you paid rent through Bilt.

The good news is that there is no minimum purchase requirement, only a minimum transaction requirement. As long as you make five purchases – of any size – on your Bilt card each month, you’ll earn your points.

4. You can earn points on more than just rent

While earning points on rent is the main selling point, the card also offers other ways to earn points:

• 2x travel points
• 3x points on meals
• 1x points on all other purchases

(These earning categories are the same as fan-favorite Chase Sapphire Preferred, for which there is a US$95 annual fee).

So, for example, if you use your Bilt card during the month for travel or dining purchases, you’ll not only get 2-3x more points, but you’ll Also achieve your minimum requirement of five purchases.

5. You can maximize the points earned for renting

It’s also worth using your card for purchases other than rentals as you can maximize the number of points earned for rentals (points for rentals are capped at 50,000 per year). After that, you will not earn any more points on rent for that year.

However, since you earn at the rate of 1 Bilt point for every $1 spent on rent, you will only reach the limit if you spend more than $4,166/month on rent. If your lease payment is less than that, you don’t have to worry about hitting the limit.

6. You can earn even more points on the day of rental

On the first day of the month, your points earning potential is doubled, meaning you’ll earn 6x points on meals, 4x points on travel, and 2x on other purchases (except rent) made on the first of the month.

If you make a habit of using your Bilt card for everything you buy on the first day of the month, you’ll already be that much closer to reaching your five minimum transactions, while earning even more points for your purchases.

And while nobody wants more apps on their phones, you’ll want to download the Bilt app for a chance to earn even more points. Every rental day there are new ways to easily earn points in the app. These change monthly, but in the past they included the Point Quest game, in which you earn points for correct answers to trivial questions.

There’s also the Rent Day challenge, where you can enter to win a free month’s rent by correctly completing a fillable sentence during the day.

Although some of these opportunities don’t offer a lot of points, they take very little time to complete, and they all add up!

7. Bilt Points = American Airlines Points

Another reason to accumulate points is that Bilt has American Airlines as a transfer partner – and it’s the only card that does. Since no other card offers transferable points to American, Bilt is the only way to earn AA points without having an AA card.

This is great news for American Airlines loyalists or travelers with specific trips in mind that they want to use AA Points for. For example, I’m currently prioritizing my Bilt card over my Chase Sapphire because I want those AA points for a trip I’m planning to Japan this year (AA is a Japan Airlines partner).

In addition to American Airlines, you can transfer your Bilt points on a 1:1 basis to many other travel partners, including:

• Air Canada
• Air France
• Cathay Pacific
• Emirates
• Hawaiian airlines
• Hyatt
• IHG
• Turkish Airlines
• United
• Virgin Atlantic

You can also redeem points for fitness classes, like SoulCycle, Solidcore, Rumble, and Y7, and for items from the Bilt Collection, a curated selection of handcrafted home decor items. However, I would advise against this, as redeeming points for fitness classes is about one percent point – and you can get a much better redemption on travel purchases.

8. Bilt offers great travel protection

Beyond its point-earning capabilities, Bilt offers solid travel protection, especially for a no-fee card. Remember, you must book travel with the Bilt Card to receive these benefits. Protections are similar to other “starter” travel credit cards, such as the Chase Sapphire Preferred.

Here are the travel protections that Bilt currently offers:

• Trip cancellation and interruption insurance
• Travel delay reimbursement (for delays of six hours or more)
• Car Rental Collision Insurance
• Mobile phone protection (up to 800 USD)
• No foreign transaction fees

Click here for a full list of rewards and benefits, as well as rates and fees.

While these protections – like those on any card – aren’t a substitute for travel insurance (which you should always have!), they’re great benefits, and you get them at no extra cost.

All in all, getting the Bilt Card is a no-brainer for anyone paying rent in the US, as it’s currently the only way to earn points for free on this necessary monthly expense.

But, while it’s worth getting it just for this perk, the Bilt card offers plenty of other awesome features that make it even more valuable. The ability to transfer to American Airlines, double points on the day of rental, new ways to earn extra points, and a comprehensive list of travel benefits and protections make the Bilt Card more than worthy of space in your wallet. It has become one of my favorite cards and I often find myself looking for it!