Bilt Mastercard Announces New Reward Structure for Credit Cards
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Bilt Rewards launched a revamped rewards program on Tuesday that now allows you to earn bonus points in new expense categories and makes it easier to earn points on what many Americans consider rent, the largest expense.
Here is everything you need to know about the Bilt Rewards program and what to consider before signing up for the Bilt Rewards Mastercard.
Bilt Rewards Reveals New Reward Structure
When Bilt Introduced its credit card for the first time in June, the main feature was that you could collect Reward Points for your monthly rental payment without paying any fees. However, the bonus structure was confused and did not allow everyday shoppers to earn many points for their rent, moreover, the card had no bonus categories and only earned 1x points on all other purchases.
At the beginning the Bilt Mastercard still doesn’t have an annual fee and now receives rewards based on the following structure:
- 1X points per dollar spent on rental payments (up to $ 50,000 per year)
- 2x points per dollar spent on travel (when booking direct with an airline, hotel, car rental company, or cruise company)
- 3x point for every dollar spent on food
And you get 1X points per dollar for all purchases that don’t fall under these categories. Cardholders must make at least five card transactions per billing cycle.
New cardholders will increase their earnings from the start as they earn 2X points per dollar spent on all eligible purchases for the first 30 days of membership.
In many cases, landlords will charge you a processing fee when paying for your rent with a credit card – which makes it expensive to earn rewards. However, if you pay for your rent through the Bilt app, Bilt will take this fee (usually around 3%) in full and send a check to your landlord on your behalf. This way, you will earn rewards with no additional fees.
And depending on how many points you collect, you will also receive status with the Bilt Rewards program, which gives you access to a wide range of benefits. The status levels are:
- Blue: Anyone who signed up for Bilt Rewards with less than 25,000 points
- Silver: 25,000 points earned per year
- Gold: Earned 50,000 points per year
- Platinum: 100,000 points earned per year
All of these metrics are based on points you’ve earned over the course of a calendar year, and based on your status level, you can access these benefits:
Earn interest on unused points (silver, gold, platinum) – Instead of rewards collecting dust, they will actually earn you interest. This is paid to you monthly (in the form of points) – the interest rate depends on the National FDIC Savings Rate.
Use points towards a deposit along with the home buyer concierge service (gold, platinum) – You can still use your premiums to pay a deposit on a home. Now you have a personalized concierge service that will guide you through the home buying process.
Bonus points for new rentals or extensions – You can collect up to 50% bonus points for the conclusion of new rental agreements and rental agreement extensions. The bonus rate depends on the status level.
Bilt Collection Gift (Platinum) – Once you reach platinum, Bilt will send you a curated gift such as: B. Decoration or works of art for your home.
Bilt has worked with dozen of real estate management companies, which comprise over two million households across the country. You can see if your management company is part of the Bilt Rewards Alliance by entering your address into the Bilt app pointing to. is available iOS and Android.
However, please note that you must be at least 21 years old to apply for the Bilt Mastercard.
In addition to the ability to earn rewards for your expenses and rental payments with no annual fee, the card also offers the benefits of Mastercard World Elite. This contains:
- Cell Phone Insurance (up to $ 800 per year coverage per claim as long as you use the Bilt Mastercard to pay your cell phone bill). Limited to 2 claims per year.
- Purchase protection
- Porter service
- Rental car insurance
- Travel insurance including travel cancellation and travel delay protection
- Up to $ 120 DoorDash credit per year. Get a $ 5 discount on your first two DoorDash orders each month.
- Up to $ 60 in Lyft credit per year for 3 trips per month.
- No foreign transaction fees
So what can you do with Bilt Rewards? You can redeem them for:
- Transfers to a long list of travel partners including: American AAdvantage, Air Canada Aeroplan, IHG Hotels, World of Hyatt, Turkish Miles & Smiles, Air France / KLM Flying Blue, Emirates Skywards, Hawaiian Airlines HawaiianMiles or Virgin Points.
- Fitness courses in fitness studios such as Soulcycle or Y7 Studio
- A deposit on your home
- A future rental payment
- Home decor, art or clothing in the Bilt collection
You can transfer Bilt points at a ratio of 1: 1 to your travel partners. The list of transfer partners isn’t as extensive as Chase Ultimate Rewards or American Express Membership Rewards, but the partners themselves can offer incredible value. World of Hyatt, American Airlines AAdvantage, Air Canada Aeroplan, and Turkish all have great award tables that allow for lots of high quality redemptions. For example, you can transfer 7,500 bilt points in Turkish and book a one-way flight with United Airlines to anywhere in the US, including Hawaii and Alaska.
Overall, the benefits of the card for a credit card with no annual fee are excellent.
And if you’re trying to save up for a down payment on a home, this card is a great way to passively tuck some “cash” away.
The Bilt Rewards program is an extremely innovative program as it provides incentives to pay the biggest bill in many Americans’ budgets – rent. The restructured programs allow cardholders to collect bonus points for food and travel expenses, and make it clearer and easier for everyday shoppers to collect points for rent payments.
If saving money on your home is your top priority or you enjoy Bilt’s unique remittance partners, this card should be considered as your primary credit card. At least consider that Bilt Mastercard just so you can collect points for your monthly rent payment.
However, if you’re looking to collect tons of points and miles, other travel credit cards may be a better option, especially those that have a large welcome bonus like the one. Offer Chase Sapphire PreferredÂ® card.
You can earn 100,000 Ultimate Rewards points when you sign up for the Chase Sapphire Preferred card and spend $ 4,000 within the first three months of opening your account. Those 100,000 points are worth $ 1,250 when you book a trip through the Chase Travel portal.
$ 50 Ultimate Rewards hotel credit per year, 5x points on trips purchased through Chase Ultimate RewardsÂ®, 3x points on food, 2x points on all other travel purchases, 5x points on Lyft trips through March 2022, and 1x point on all others purchases
Earn 100,000 Bonus Points after spending $ 4,000 on purchases in the first 3 months after opening your account
Introduction of APR
Regular annual interest
15.99% to 22.99% variable for purchases and credit transfers
Transfer fee for the credit
Either $ 5 or 5% of the amount of each transfer, whichever is greater
Foreign transaction fee
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