Our Verdict
Renters have a way to make paying rent slightly less miserable: credit card rewards. The Bilt World Elite Mastercard® allows renters to earn rewards on rent payments with virtually any landlord. More specifically, the card earns 1 point per dollar on rent payments without the transaction fee (on up to 100,000 points each calendar year), 3 points per dollar on dining, 2 points per dollar on travel (when booked through the Bilt Travel Portal or directly with an airline, hotel, car rental or cruise company), and 1 point per dollar on other purchases. You’ll need to make five transactions per statement period to earn rewards.
The Bilt card may appeal to those who want one credit card and pay enough rent to make it a worthy option.
Pros
- Earn rewards on rent
- Primary car rental and cell phone insurance
- Points can be transferred to partners
Cons
- Requires five card transactions per statement period to earn rewards
- No welcome bonus
- High regular APR range
- Rewards outside of rent spend are relatively low compared to other cards
Highlights
- Earn points when you make 5 transactions that post each statement period
- $0 annual fee
- 1x points on rent payments with no transaction fee (on up to 100,000 points each calendar year)
- 2x points on travel (when booked directly with an airline, hotel, car rental or cruise company)
- 3x points on dining
- Plus 1x points on other purchases
- Cell Phone Insurance
- Purchase security (theft and damage protection)
- Mastercard® World Elite Concierge
- Lyft Credits
- No foreign currency conversion fee
- Rewards & benefits terms
Bilt Rewards Credit Card Introduction
The Bilt World Elite Mastercard® enables renters to earn credit card rewards for paying rent—with important qualifications and limitations—and on other purchases. Cardholders earn 1 point per dollar on rent payments without the transaction fee (on up to 100,000 points each calendar year), 3 points per dollar on dining, 2 points per dollar on travel (when booked through the Bilt Travel Portal or directly with an airline, hotel, car rental or cruise company), and 1 point per dollar on other purchases.
The card also offers interest on points balances, complicated and qualified point bonuses for signing new and renewed leases with partner landlords and a tiered loyalty status program based on the number of points earned each year.
The card’s earning rate of 1 point per dollar on rent (up to 100,000 points per year) is entirely unique and may be worthwhile. The rate of 3 points per dollar spent on dining is also competitive but you might be better off putting other spending on a flat-rate card that earns 2% cash back on all purchases.
Whether your spending patterns will generate sufficient points to earn the status and subsequent benefits with the Bilt Rewards card—and maximize rewards—should be carefully evaluated. Some consumers may decide it’s best to ignore the tiers, take what rewards can be earned on rent and dining and call it a day.
Even those whose landlords are not part of the Bilt Rewards Alliance may earn points on rent by using the Bilt Rewards app—Bilt offers the option to add your card like you would a bank account in your landlord’s existing online portal. If that’s not feasible, Bilt can issue a check to your landlord when rent payments are made through the app.
Any qualifying U.S. resident can join the Bilt Rewards program and earn rewards for paying rent through the app. However, only those with a Bilt Rewards Credit Card can access higher rewards earnings and any additional perks, including Mastercard World Elite benefits.
Bonus points for signing leases do not extend to leases outside of Bilt’s Rewards Alliance.
Compare Bilt Rewards Credit Card With Other Cards
Quick Facts
- Earn credit card rewards on rent
- $0 annual fee rates & fees
- Mastercard World Elite benefits
- Points transfer to travel partners at a 1:1 rate
What Is the Bilt Rewards Credit Card Best For?
The Bilt World Elite Mastercard® is designed for renters who can also take advantage of the dining and travel rewards earning rates.
Bilt Rewards Credit Card Rewards
Earning Rewards
The Bilt Rewards Card earns 1 point per dollar on rent payments without the transaction fee (on up to 100,000 points each calendar year), 3 points per dollar on dining, 2 points per dollar on travel (when booked through the Bilt Travel Portal or directly with an airline, hotel, car rental or cruise company), and 1 point per dollar on other purchases.
Plus, Bilt has designated the first day of every month as Rent Day, when rewards for all non-rent spending will be double the normal rate. Thus, cardholders can earn 6 points per dollar spent on dining, 4 points per dollar on travel and 2 points per dollar on other spending. Note that there’s a cap on the double earnings of 10,000 points per month.
The card also earns interest on points balances once you reach Silver or higher tier levels and earns point bonuses for signing new and renewed leases with in-network Bilt Rewards Alliance landlords.
Bilt figured out how to make paying rent with a credit card feel like a classic airline rewards program. The Bilt Rewards tier system determines the benefits, and extras and status tiers are achieved with yearly reward earnings. Point earning must be maintained each year or status will be lost:
- Blue: Anyone enrolled in Bilt Rewards with fewer than 50,000 points
- Silver: 50,000 points earned
- Gold: 125,000 points earned
- Platinum: 200,000 points earned
Tiers unlock various benefits, including earning interest on points and homeowner concierge service to help you buy a home. Points can also be redeemed toward a mortgage down payment at a rate of 1.5 cents each. Other perks include bonus points on new or renewed leases, decor and art gifts.
*Bilt states Bonus Points on Points Earned from Signing Leases are on top of points issued by landlords, but it’s unclear how the base amount is determined or if there is a standard for points landlords will issue. Renting within the Bilt Rewards Alliance is required to earn any bonus.
The Bilt Rewards point transfer partners are where this card’s rewards show value: With 1:1 points transfers among numerous popular travel partners, the rewards points are valuable well outside of the redemption options Bilt offers.
The calculations required to determine if the card will be worthwhile over alternatives like flat, 2% cash-back cards depend on a cardholder’s needs and spending habits.
Redeeming Rewards
Cardholders have access to solid redemption options. One of the most popular is transfers to airline and hotel partners at a 1:1 ratio. Partners are:
- Aer Lingus AerClub
- Air Canada Aeroplan
- Air France-KLM Flying Blue
- Alaska Mileage Plan
- American Airlines AAdvantage
- Avianca LifeMiles
- British Airways Executive Club
- Cathay Pacific Asia Miles
- Emirates Skywards
- Hawaiian Airlines HawaiianMiles
- Iberia Plus
- Turkish Miles&Smiles
- United MileagePlus
- Virgin Atlantic Flying Club
- IHG One Rewards
- Marriott Bonvoy
- World of Hyatt
Bilt points can also be redeemed for group fitness classes or subscriptions including SoulCycle, CycleBar and Y7, for items in The Bilt Collection and rent credit at a rate of 0.55 cents per point.
Rewards Potential
To determine the rewards potential of the Bilt World Elite Mastercard®, we consider what an average household might spend on a credit card each year. Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually and has $39,337 in annual expenses that can be reasonably charged to credit cards.
Forbes Advisor estimates the average renter pays $16,464 per year in rent payments. We estimate that this household would spend $4,622 at restaurants, resulting in 13,899 points earned per year and $8,573 on travel, resulting in 17,146 points per year.
The remaining $26,142 in credit card spending, plus $16,464 in rent payments, would result in 42,606 points earned each year for an annual total of 73,651 points. You could net even more points if you time your non-rent spending for the first of each month when Bilt doubles your earning rates.
Other Bilt Rewards Credit Card Benefits
- Cellphone insurance. When you pay your cellphone bill with this card, you’ll be protected up to $800, with a $25 deductible.
- Purchase protection. New purchases are protected against theft or damage for 90 days after purchasing.
- Concierge service. Cardholders have access to a concierge service.
- Trip cancellation and interruption protection. Offers reimbursement for non-refundable fares if your trip is interrupted or canceled due to a covered reason. Fare must be booked with your Bilt Mastercard to be eligible.
- Trip delay reimbursement. If your trip is delayed six hours or more for a covered reason, reasonable expenses may be reimbursed up to $200 per person per day for up to three days (maximum $1,800 reimbursement per trip).
- Auto rental collision damage waiver. When renting a car, charge the entire amount to your Bilt credit card and decline the rental company’s coverage. This benefit offers primary coverage.
Fine Print
Interest Rates
- Regular APR: See terms (rates & fees)
- Purchase intro APR: N/A
- Balance transfer intro APR: See Terms
Fees
- Annual fee: $0
- Balance transfer fee: 5% for each balance transfer, with a minimum of $5
- Foreign purchase transaction fee: None
How the Bilt Rewards Credit Card Stacks Up
Bilt World Elite Mastercard® vs. Chase Freedom Flex℠*
The Chase Freedom Flex℠* earns 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
This may be more beneficial than Bilt Rewards depending on your spending habits. The average household could earn more with the Freedom Flex unless their rent costs are particularly high.
The Freedom Flex also offers a welcome bonus: Earn a $200 bonus after spending $500 on purchases in the first 3 months from account opening.
Bilt World Elite Mastercard® vs. Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card earns 2% cash rewards on purchases. Cardholders can also earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
The simplicity of the Active Cash may appeal to those who don’t want the hassle of Bilt’s rewards structure or the complicated bonus point options. For no annual fee, you can earn flat-rate cash rewards on every purchase.
Plus, the card comes with a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies.
Bilt World Elite Mastercard® vs. Prime Visa
With the Prime Visa, cardholders earn 5% back on purchases at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership, 2% back at gas stations, restaurants and on local transit and commuting (including rideshare), and 1% back on other purchases.
For those who frequently shop at Whole Foods and Amazon.com, this has serious cash-back potential and should be carefully weighed against the earning structures of the Bilt Rewards card.
A cardholder loyal to Amazon and Whole Foods would earn more cash back than could be earned with equivalent spending on the Bilt card, but the Bilt card offers many more options for points redemption.
The Amazon Prime card also offers a welcome bonus: Get a $100 Amazon gift card upon approval with an eligible Prime membership. Plus, it includes an array of other benefits, including travel accident insurance, baggage delay and loss coverage and extended warranty protection.
Is the Bilt Rewards Credit Card for You?
For those who want to earn flexible Bilt Rewards on their rent spending and don’t want to fuss with multiple credit cards, the Bilt World Elite Mastercard® is a viable option. The selection of travel transfer partners is compelling, especially for a no annual fee card. It’s worthwhile to think through if the rewards on the Bilt card will be greater than other options as each individual’s situation will be different based on rent spending, non-rent spending and other desired benefits.
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points or miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.
To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards.
*The information for the following card(s) has been collected independently by Forbes Advisor: Chase Freedom Flex℠. The card details on this page have not been reviewed or provided by the card issuer.
*The information for the following card(s) has been collected independently by Forbes Advisor: Chase Freedom Flex℠. The card details on this page have not been reviewed or provided by the card issuer.
