The Bilt Rewards Credit Card is a unique financial product for renters. It allows you to earn rewards on your rent payments without paying extra transaction fees.
Issued by Wells Fargo in partnership with Bilt Technologies, this card also offers competitive rewards on dining, travel, and more.
In this article, you’ll learn everything you need to know about this card. Check out its features, fees, application process, and tips to get approved.
Understanding the Bilt Mastercard
The Bilt Mastercard is designed to help renters make the most of their monthly payments.
This card stands out by offering rewards on rent, something most credit cards don’t do. With no annual fee and a simple rewards structure, it’s a practical choice for anyone looking to optimize their spending.
Explore how the Bilt Mastercard works, starting with its rewards on rent payments.
Rewards on Rent Payments
The Bilt Mastercard lets you earn one point per dollar on rent payments, up to 100,000 points annually, without any transaction fees. Payments are processed through the Bilt app, which can mail checks to landlords who don’t accept electronic payments.
To qualify for points on rent, you must make at least five transactions per statement period; otherwise, you’ll earn a flat 250 points on rent.
This ensures that renters earn rewards regardless of how their landlords process payments. With this structure, the Bilt Mastercard stands out as a renter-friendly option.
Key Features and Benefits
The Bilt Mastercard is more than just a rent rewards card; it offers a robust rewards program for everyday spending.
By making purchases in popular categories like dining and travel, you can accelerate your points-earning potential.
This section covers how the card rewards your spending and explains the variety of redemption options available. Examine how to maximize the benefits of this card’s features.
Earning Points
With the Bilt Mastercard, you earn three points per dollar on dining. You also earn two points per dollar on travel booked directly with airlines, hotels, and car rental agencies.
All other purchases earn one point per dollar, making it easy to accumulate rewards on everyday spending.
On “Rent Day,” the first of every month, you can earn double points on non-rent categories, boosting your rewards rate. This simple yet generous structure lets you maximize every dollar spent.
Redemption Options
The Bilt Mastercard offers flexible redemption options that cater to different lifestyles. You can transfer points to over a dozen airline and hotel loyalty programs at a 1:1 ratio.
Points can also be redeemed for rent credits, fitness classes, and experiences through the Bilt app. For those who prefer shopping, the Bilt Collection offers merchandise for your points.
These options ensure you can find a redemption method that fits your goals. Flexibility makes the Bilt Mastercard a valuable rewards tool.
Interest Rates and Fees
Understanding the rates and fees associated with the Bilt Mastercard is crucial for smart financial management.
Knowing these details helps you make informed decisions and avoid unexpected charges.
This section breaks down the card’s APRs and fees so you know what to expect. Explore how the Bilt Mastercard handles interest and fees.
APR and Fees Overview
The Bilt Mastercard has a variable APR ranging from 20.49% to 28.49%, depending on your creditworthiness. This rate applies to both purchases and balance transfers.
There’s no annual fee, which keeps the card accessible and affordable. Balance transfers come with a fee of up to 5% of the transferred amount, with a minimum of $5.
Cash advances carry a 28.24% APR and a fee of either $10 or 5% of the advance amount.
Foreign Transaction and Penalty Fees
Travelers will appreciate that the Bilt Mastercard has no foreign transaction fees. This means you can use your card overseas without paying extra charges.
Late payments may result in penalty fees, so paying on time is important to avoid these costs.
Keeping your account in good standing helps maintain your credit score and avoid additional charges. Understanding these fees helps you manage your card effectively.
Requirements for Applying
Before applying for the Bilt Mastercard, it’s essential to know if you meet the eligibility requirements.
Meeting the criteria increases your chances of approval and avoids wasting time on an incomplete application.
This section details the basic requirements needed to qualify for the card. Review the key information you need to apply successfully. Being prepared can make the process smoother.
Eligibility Criteria
To apply for the Bilt Mastercard, you must be at least 18 years old, although the age requirement may vary by state. You must also be a resident of the United States or its territories.
A good to excellent credit score improves your chances of approval, so make sure your credit history is in good shape. It is best that you improve your credit score first before you apply for the card.
Reviewing your credit report for errors is a smart move before applying. Knowing these requirements can help you get ready to submit your application confidently.
The Application Process for the Bilt Mastercard
Applying for the Bilt Mastercard is designed to be quick and user-friendly. Understanding the steps beforehand helps you complete the process without confusion.
This section explains how to apply online and outlines the required information. Walk through the application process step by step. Knowing what to expect ensures you’re prepared.
How to Apply Online
Visit the Bilt Rewards website and create an account if you don’t already have one. Fill out the application with your personal details, including your name, address, Social Security number, and income.
Make sure that you provide them with accurate information. Upload necessary documents for review and submission. Double-check everything before you submit.
Once submitted, you might receive an instant decision or need to provide additional documents. Most applicants get their approval status within minutes. After approval, you can start using the card and earning rewards immediately.
Contact Details
For account assistance, use the chat feature in the Bilt app or on their official website. For questions about the card, call the number on the back of your Bilt Mastercard. For application questions, Wells Fargo’s customer service is available at (833)-461-0346.
Bilt Technologies is headquartered in New York City, New York, providing a strong presence in the financial services industry. Keeping this information handy ensures you can get help when needed.
Tips for a Successful Application
A strong application increases your chances of getting approved for the Bilt Mastercard. Knowing what to do before applying helps you avoid mistakes.
This section shares simple tips to help you build a strong application. Explore how to prepare for success. Following these tips can make the process easier.
Improve Your Approval Odds
Start by checking your credit report for errors and correcting them if needed. Pay bills on time and in full, as this will help improve your credit score quickly. Maintain a low credit utilization rate to keep your credit score strong.
Provide complete and honest information on your application to avoid delays. Apply when your financial situation is stable for the best results. These steps can help you get approved faster.
Conclusion
The Bilt Mastercard is a unique tool that lets renters earn rewards on their rent payments and everyday spending. With no annual fee and a straightforward application process, it’s a smart choice for anyone looking to maximize their financial benefits.
If you’re ready to turn your rent payments into valuable rewards, apply for the Bilt Mastercard today.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
