Bilt Credit Card Review | Get Rewards for Paying Bill With This No-Annual Fee Card Key Takeaways!
The Bilt credit card has zero annual fees. People who pay rent on a monthly, quarterly, or yearly basis are not required to pay any transaction fee With Bilt cards, the points are transferred to travel partners at a 1:1 rate. Gives 1x points on rent, and the cardholders can earn double points on different purchases made on rent day. Bilt Credit Card is an amazing rewards card that appeals to people by letting them earn credit card rewards for paying rent. It’s a no-annual-fee card that allows renters to earn back some value on a major monthly expense. This unique credit card is created by Fargo online banking and applies zero transaction fees to rent payments, dining out, travel, and other regular purchases.
If you are someone who pays a huge sum of money every month for rent, the Bilt card is going to be a big boon for you. In this Bilt credit card review, we will exclusively focus on Bilt rewards and see how this card can help you manage your expenses.
Overview of Bilt Credit Card Bilt MasterCard is a multifaceted reward card for renters and fee-averse travelers. What distinguishes this card from others like Tomo credit card or Cerulean credit card , is that you can earn rewards for paying rent, that too without any transaction or processing fee. So with Bilt cards, you won’t be paying any additional charges that negate your points.
Besides paying rent, you can also earn points and rewards for dining out, traveling, and even grocery shopping. You will literally be rewarded for the daily spending you make when you choose Bilt cards. On top of this, the card offers multiple redemption options that include travel, future rent payments, and paying for fitness.
If you think a Bilt card has many benefits, wait until you unlock the elite status. Elite status offers some additional and peculiar advantages to its users that include a chance of earning interest in the form of additional points on any unused points. Here’s how Bilt rewards people –
1X Points on rent payments 1X Points of other entitled purchases 2X Points on traveling 3X Points on dining out The maximum limit of points one can earn in a year is 100,000. So you have to be mindful when you make purchases with a motive to earn points.
Pros and Cons of Having a Bilt Mastercard There’s no doubt that the Bilt credit card provides plenty of benefits to renters, but like other cards, Bilt rewards have some limitations.
Pros Cons No annual charges or fees It doesn’t provide a sign-up bonus Pays rent without any transaction fee You need to make at least five transactions a month to earn points Have an impressive reward program Has multiple bonus categories Provides trip cancelation security
Bilt credit cards have more advantages than disadvantages. So if you spend money freely, the Bilt cards make a great choice to earn some rewards from your expenses.
Enchanting Features of Bilt Mastercard By applying zero annual and transaction fees to rent payments, the Bilt card has become the leading choice of rent payers. But very few people know that they can earn Bilt rewards and shore up their credit score even if they are not rent payers. Here are some distinctive features of Bilt Mastercard that will make you want to get one.
Earn Bilt Rewards on Paying Bills One of the great advantages of using a Bilt card is that you pay rent and earn rewards. Monthly rent is a hefty expense for every tenant. Isn’t it a great idea to get some reward for religiously paying a huge amount of money as rent?
With Bilt MasterCard, you get one point per $1 spent on rent payments. You get a one-point reward if you make a minimum of five card transactions on the card every month. This is the most comfortable and convenient method of making money.
Manage Credit Building With Bilt Rewards Credit Card The credit score is one of the most essential things in the finance world and this credit card can be used on Venmo account . Generally, credit cards help you build a good credit score, but Bilt cards are different from them. Bilt MasterCard goes beyond improving your credit score and allows you to establish a history of on-time payments with its rent and bill scheduling feature.
Earn Points by Traveling and Dining Out If you think rent rewards are the only fascinating thing about Bilt cards, you are entirely wrong!
This Bilt reward review is incomplete without discussing the points earned while traveling and dining. Bilt cards allow cardholders to earn two points per $1 for travel booked directly with airlines. All the cardholders can earn points on the expenses they make on airlines, hotels, rental agencies, and cruise lines.
Furthermore, this card is the perfect gift for foodies and bloggers who love dining out. For food lovers, the Bilt MasterCard gives three points per $1 spent at hotels and restaurants. You can even get one point per $1 on other purchases, like groceries.
Tip to Remember – The Bilt cardholders earn accelerated points on all non-renting spending done during the 24-hour window on the first of every month. On rent day, the cardholders receive 6x points on dining, 4x points on travel, and 2x points on other expenses.
Added Trip Cancelation Protection Canceling a family trip at the last minute? Worry not; Bilt has got you covered.
Using credit cards when traveling abroad makes you a smart traveler. Always book tickets using a Bilt card for added benefits. All the trips booked with Bilt are secured with special travel benefits that include cancellation protection and delay reimbursement.
Again, there are also no foreign transaction fees if the transactions done abroad are converted to US dollars. We can clearly state that the more points you earn each year, the higher your status level in Bilt Rewards.
Timely Pay Rent With Bilt Card One problem is that most landlords add transaction fees when they receive rent payments. Your transaction fees can be a huge expense if you are renting for years or even months. Bilt MasterCard came up with the ultimate solution by waiving the transaction fees. Imagine how much money you could have saved if you had known about the Bilt cards earlier.
The best part is that you don’t need to worry about your rent due date. You can schedule your monthly rent payments within the Bilt rewards app, and the Bilt app will automatically cut your landlord a check on the fixed date. This system also works for landlords who don’t receive card payments, as Bilt will send a check from your behalf to your landlord.
Remember – Bilt cards support the rent payment of only one property a month.
Furthermore, you can rack up your interest charges very easily by connecting a bank account with your Bilt account and transferring funds. So, with the Bilt card, you not only pay rent on time but also avoid interest charges.
The perks and features of the Bilt card are discussed in great detail now; let’s quickly take a look at how to redeem the earned points in the subsequent section.
Also Read: Walgreens Credit Card Login, Registration, Payment Methods, and More
How to Redeem Bilt Reward Points? Bilt provides multiple options to redeem Bilt rewards. To name a few –
Bilt collection redemptions Travel portal Transfers to partners Paying for fitness classes Amazon purchases Paying next month’s rent Make a down payment on a house or investment vehicles Remember that the value of the aforementioned redemptions varies greatly. Using your reward points to pay next month’s rent is the worst value of all options. Redeeming in the Bilt travel portal or making a down payment is the best of all options.
Tip to remember – While opting for point redemption, always aim for award redemptions that offer high value.
Additionally, you can cash in redeemed points. However, you need to get the premium version of the Bilt credit card if you want to redeem points for cash, statement credit, merchandise, or gift cards.
Also Read: The Ultimate Guide to Menards Credit Card Login, Registration, and Bill Payment
Perks of Earning Bilt Elite Status Bilt rewards mainly have three additional elite status levels with the basic blue status tier. Your status depends on the number of points you earn in a year. The moment you earn the required number of points, your status will automatically be elevated. After that, all you have to do is maintain the status throughout the year.
Though you don’t get many incentives for earning status, you earn interest on your Bilt points. Once you reach the silver or higher level status, Bilt will pay you interest in points every month. The interest a particular user will get depends on the average daily point balance for 30 days. To adhere to the interest commitment, Bilt uses National Rates and Rate Caps decided by the FDIC. You can also check out our credit card payment calculator to see how much you will have to pay when using your Bilt card.
One of the biggest benefits of a Bilt card is that you can redeem your points for booking flights, hotels, car rentals, etc. You can literally plan your entire holiday by using the Bilt Travel portal.
The program includes in total 14 Airlines:
Aer Lingus AerClub Air Canada Aeroplan Air France-KLM Flying Blue American Airlines AAdvantage British Airways Executive Club Cathay Pacific Asia Miles Emirates Skywards Hawaiian Airlines HawaiianMiles Iberia Plus Turkish Airlines Miles & Smiles United MileagePlus Virgin Atlantic Flying Club IHG One Rewards World of Hyatt Furthermore, Bilt provides you with the option of redeeming your points at Amazon or for curated art, decor, and apparel through the Bilt Collection.
Also Read: Cosmoprof Credit Card: How to Log in, Register, and Pay Bills in 2023?
Essential Things to Know About Bilt Cards Bilt rewards are extremely beneficial, but understanding all aspects of a Bilt credit card is extremely important before getting one for yourself. Here are certain things that you need to know about Bilt MasterCard!
Lyft Credits – Bilt Card provides you with Lyft credits. You just need to take three Lyft rides in a month using your card, and you’ll receive a $5 Lyft credit. Cellphone Protection – Use your Bilt MasterCard to pay for your cellphone bills, and your phone will be covered up to $800 for damage and theft. Auto Collision Damage Waiver – You can decline the in-store insurance when you purchase car rentals with your Bilt card. Purchase Protection – All purchases worth $10,0000, you make with your Bilt card will be covered for the first 90 days in case of damage or theft. Possibility of Higher Interest – Rates go perfectly well into double digits. Getting a rate on the higher part can be expensive; hence, we recommend you check and consider your terms carefully. These are some essential things which you must know about Bilt cards. Besides these, you can also checkout Credit One Activate card that offers amazing financial services and cards with low credit score.
Also Read: How to Cancel a Chase Credit Card? — [4 Ways and Tips]
Bilt MasterCard is Best For……. Bilt MasterCard is best for renters and adventurers who love exploring and dining out. People who spend a lot of monthly money can maximize their card’s perks and benefits. If used correctly, credit cards can be very advantageous. Bilt cards are not ordinary credit cards because they are designed specifically for the welfare of tenants.
However, if you aren’t a travel buff or tenant, don’t get disheartened. Bilt enables users to earn points on daily purchases made with the card. So, even if you aren’t a renter, your daily purchases will give your card a solid long-term value.
Frequently Asked Questions Ans: Yes, Bilt Rewards are legitimized by MasterCard International Incorporated. You can easily earn rewards on your monthly rent and other bills without any transaction fee.
Ans: Getting a Bilt card isn’t rocket science. You just need to have a good credit score, i.e., a FICO score of 670 and above, to apply and qualify for the Bilt Mastercard.
Ans: Wells Frago Bank, N.A. is the legitimate authority that administers and issues the Bilt World Elite MasterCard. They have a license from MasterCard International Incorporated to issue Bilt cards.
Ans: If you qualify for Bilt MasterCard and authorities have approved your request, it will take ten days for your MasterCard to be received. If you have any queries regarding the delivery status of your card, you can reach out to 833-404-2272.
Ans: Yes, you can pay your rent by using the Bilt app if you don’t qualify for a credit card. The Bilt app will directly send a check to your landlord on the scheduled date.
Sources
