Bilt Credit Card Review: Charge Rent and Earn Rewards
The Bottom Line
4.5
For renters, it's a game-changer and among the best no-annual-fee travel rewards cards on the market. But it lacks a sign-up bonus, and you must use the card at least 5 times per billing cycle to qualify for meaningful rewards.
Rates, fees and offers
Rates, fees and offers
Annual fee
None
Rewards rate
1X-3X
Bonus offer
None
Intro APR
N/A
Ongoing APR
APR: See Terms
Balance transfer fee
Up to 5% for each balance transfer, with a minimum of $5.
Foreign transaction fee
None
More details from Bilt
More details from Bilt
- $0 Annual Fee
- Earn 1x points on rent payments without the transaction fee, up to 100,000 points each calendar year
- Earns 3x points on dining, 2x on travel, and 1x on other purchases
- Earn double points on the first of each month (excluding rent, up to 1,000 bonus points)
- Use the card 5 times each statement period to earn points
- Earn up to 5x Bilt points on Lyft rides when you link your Bilt account and pay with your Bilt card
- Point redemptions include airlines, hotels, future rent payments, credit card statement credits, toward a down payment on a home, etc.
- Other features and benefits include: Auto Rental Collision Damage Waiver, Purchase Security, Trip Cancellation and Interruption Protection, Cellular Telephone Protection, and Trip Delay Reimbursement
- Select Apply Now to learn more about the product features, terms, and conditions
Pros and Cons
Pros
No annual fee.
Earn rewards on rent payments.
Travel partners.
Bonus categories.
Cons
No sign-up bonus.
Detailed Review
Rent is, for many, the largest monthly bill of them all. But unlike most other expenses, it's not so easy — and sometimes impossible — to make that payment with a credit card, much less to earn rewards on the transaction without incurring a fee that would cancel out the value of those rewards.
Enter the Bilt World Elite Mastercard® Credit Card, which lets you earn rewards when you pay rent without having to worry about an extra fee or surcharge (or an annual fee, for that matter). Even better, the rewards you can earn from the card can be redeemed in a variety of ways, including a 1:1 transfer to more than a dozen airline and hotel loyalty programs.
The card isn't without drawbacks, though. There's no sign-up bonus, as you might expect to find on any number of rewards credit cards — even those with no annual fee. And you'll also have to commit to using the card a certain number of times every month to derive significant value from it. Using the card only for rent isn't going to net you much.
Still, for renters, the Bilt World Elite Mastercard® Credit Card fits the bill in a way that no competitors can.
Bilt Rewards Card: Basics
Annual fee: None.
Sign-up bonus: None.
Rewards:
5 points per $1 spent on Lyft (when you link your accounts).
3 points per $1 spent on dining.
2 points per $1 spent on travel.
1 point per $1 spent on rent (up to 100,000 points per calendar year).
1 point per $1 spent on other purchases.
APR: See Terms.
Foreign transaction fee: $0.
Other benefits:
Primary auto damage collision damage waiver: Applies as long as you pay for the rental car with the card, a perk rarely found in a $0-annual-fee card. (New York residents are eligible only for secondary coverage.)
Cell phone protection: Up to $800 in coverage, with a $25 deductible, if you pay your cell phone bill with the card.
Trip cancellation/interruption protection: Up to $5,000 reimbursement for a covered reason when you pay for travel with the card.
Lyft credits: Receive a $5 Lyft credit each month after you pay for three rides with your card.
Free ShopRunner membership: Get unlimited, free two-day shipping and free return shipping at over 140 online stores.
How Bilt works for renters
Anyone can join the separate Bilt Rewards program for free and make rent payments through the Bilt Rewards app, cardholder or not. When you set up a Bilt Rent account in the app, you'll be assigned a routing and account number, which lets you submit rent through your regular payment site or portal. Even if your landlord accepts checks only, you can still pay through the Bilt app and earn points because Bilt will submit a check on your behalf.
But holding the Bilt World Elite Mastercard® Credit Card comes with added advantages, including supercharged rewards:
If you live in a rental unit that’s part of the "Bilt Alliance" (which includes more than 3.5 million units across the U.S. managed by The Blackstone Group, Equity Residential and more), you can pay your rent directly in the Bilt Rewards app with the Bilt World Elite Mastercard® Credit Card and earn points for doing so. You can pay with a different card this way, but you'll owe a 3% processing fee in that case.
If you don't live in a Bilt-affiliated property but you do have the Bilt World Elite Mastercard® Credit Card, you can still use it to pay rent through the app and earn points. In this scenario, Bilt will send your landlord a check.
If you don’t live in a Bilt-affiliated property and don't hold the Bilt World Elite Mastercard® Credit Card, you're able to pay rent through the app, but you'll earn only 250 points for doing so, and you'll owe the processing fee.
You don't necessarily have to be a renter at all to earn Bilt Rewards. You can join the program and earn points through various promotions, such as by linking travel loyalty accounts, dining at restaurants that have partnered with Bilt, etc.
Compare to Other Cards
Benefits and Perks
Pay rent and earn rewards
It's often not possible to pay rent directly with a credit card. Many landlords don't accept cards as payment, and those who do might charge expensive processing fees for such transactions. Certain third-party payment processors like Plastiq can be a workaround, but those, too, will cost you in processing fees.
Not only does the Bilt World Elite Mastercard® Credit Card let you pay your rent without incurring any processing fees, and not only does the card have no annual fee, but on top of all that, you can earn rewards on those rent payments. That's a powerful combination you won't find elsewhere.
The only caveat is that rent payments will not count toward your Bilt Rewards elite status. (More information on status tiers below.)
» MORE: Best no-annual-fee credit cards
Competitive rewards rates
The Bilt World Elite Mastercard® Credit Card isn’t just for rent. Since it’s a Mastercard, it can be used almost anywhere that credit cards are accepted. When you use the card, you’ll earn 5 points per $1 spent on Lyft, 3 points per $1 on dining, 2 points per $1 on travel, 1 point per $1 spent on rent (up to 100,000 points per calendar year), and 1 point per $1 on other purchases.
The Bilt World Elite Mastercard® Credit Card isn’t the only no-annual-fee card to offer heightened rewards on everyday spending categories. The Chase Freedom Unlimited®, for example, earns 5% cash back on travel booked through Chase; 3% back on dining and drugstores; and 1.5% points on all other purchases. But it, and other cards in its class, generally won’t earn rewards on rent unless you are willing to incur processing fees that would cancel out the value of those rewards.
Bilt cardholders will earn bonus points across non-rent spending during the 24-hour window on the first of every month. On "Rent Day," cardholders will earn 6x points on dining, 4x points on travel and 2x points on other purchases. (Rent payments will still earn 1x points up to a max of 100,000 points per calendar year). Take advantage of Rent Day by using your Bilt card to pay for recurring expenses like utilities or streaming services on the first of each month. Starting Oct. 1, 2024, points earned each Rent Day are capped at 1,000 per month.
Plentiful, flexible redemption options
Rewards earned from the Bilt program are flexible and can be redeemed in a variety of ways. The value of your points will vary based on which option you choose:
Pay rent or receive a statement credit: 0.55 cents per point.
Down payment on a home: 1.5 cents per point.
Transfer points 1:1 to travel partners: Point values vary depending on the partner. (See list of partners below.)
Book travel through the Bilt travel portal: 1.25 cents per point.
Fitness
Home decor and curated art: 0.7 to 5 cents per point, depending on the item.
Complete list of Bilt transfer partners
Transferring credit card rewards to travel partners can give outsize value. For example, NerdWallet values Hyatt points at 2.2 cents cents each. This is a baseline value, drawn from real-world data, not a maximized value. In other words, you should aim for award redemptions that offer at least this value or more from your Hyatt points.
» LEARN: How much points and miles are worth
Earn interest on your points
Renters can earn Bilt points in a variety of ways, like on new leases and renewals in Bilt Alliance properties, even if they don’t hold the Bilt World Elite Mastercard® Credit Card. Bilt Rewards members can also be eligible for extra incentives, such as bonus points, depending on their status tier. The more points a member earns in a calendar year, the more benefits they can be eligible for in this tiered program:
Blue: Fewer than 25,000 points earned.
Silver: 25,000 - 49,999 points earned.
Gold: 50,000 - 99,999 points earned.
Platinum: 100,000 or more points earned.
Once you become at least a Silver member in the Bilt Rewards tier system, you’ll be eligible to earn interest on your stash of points. Each month, you’ll receive interest in the form of bonus points based on your average daily points balance for each 30-day period. While it may not amount to much (the interest rate is tied to the published national savings rate from the Federal Deposit Insurance Corp.), it’s a unique added-value feature for the card.
You can fast-track your way to Bilt status by spending on any debit or credit card linked to your Bilt mobile wallet at partners like Lyft or restaurants in the Bilt dining program. All spending on your Bilt World Elite Mastercard® Credit Card will also count toward elite status, with the exception of rental payments.
Extra perks
The primary auto insurance you get on rental vehicles you pay for with the Bilt World Elite Mastercard® Credit Card sets it apart from most other no-annual-fee travel cards. This coverage means you can avoid paying more for insurance at the rental counter or getting your own insurer involved if you incur damage, saving on deductibles and potentially increased premiums.
You'll also receive up to $800 in cell phone protection when your phone is damaged, stolen or involuntarily lost (cracked screens, cosmetic damage and scratches aren't covered). To qualify, you need to pay your monthly statement with the card and a $25 deductible. Cell phone insurance has become a more common card benefit in recent years, but the $25 deductible is as low as you'll find on any card. (See the card's benefits guide for more details.)
New in April 2024, Bilt elite members will also receive benefits with helicopter charter company BLADE, including lounge access, discounted prices and even a free flight (depending on your status level). All Bilt Rewards members (with or without the Bilt World Elite Mastercard® Credit Card) will earn 2x Bilt Reward points for paid bookings with BLADE by using a debit or credit card linked to their Bilt digital wallet.
MORE NERDY PERSPECTIVES
 | I recently got this card because my apartment building uses Bilt, and it makes paying rent and earning rewards super simple. Because rent is such a big recurring expense, it's easy to accumulate points, even if you don't use the card for much else. The number and quality of transfer partners is impressive, too. I'm saving up my Bilt points for a big Alaska Airlines redemption. Meghan Coyle, editor, travel rewards |
 | I get a lot of value from holding this no-fee card even though I'm not a renter. On the first of each month (Rent Day), I make sure to keep it top of wallet to take advantage of its double earnings — 3X on dining becomes 6X. Bilt is great at offering special ways to earn and redeem points, and really makes earning points fun with games, status challenges and more. Plus, I love that I can transfer points to some of my favorite brands like Hyatt and Alaska Airlines. Erin Hurd, director, TravelNerd |
 | I don’t rent and still find a ton of value in the card by paying my recurring bills on the first of each month to earn double rewards. I love Alaska Airlines, and Bilt Rewards is the only points program that includes Alaska as a travel partner. You can also earn a pile of rewards by referring friends to the card, but unfortunately, there is no sign-up bonus. With no foreign transaction fees and primary rental car insurance, this card is hard to top for travelers. Craig Joseph, writer, travel rewards |
Drawbacks and Considerations
No sign-up bonus
One knock against the Bilt World Elite Mastercard® Credit Card is the lack of a sign-up bonus. Other no-annual-fee travel rewards cards offer an initial pile of points or cash back once you complete some basic requirements.
For example, with the Wells Fargo Active Cash® Card, you can grab the following bonus: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. You can also earn 2% cash back on all purchases, every day. While it lacks transfer partners, that sign-up bonus combined with a flat 2% cash back on all purchases may provide more ongoing value for some people.
Unlike cards that earn flexible points such as Chase Ultimate Rewards® and AmEx Membership Rewards, the Bilt World Elite Mastercard® Credit Card is the only card that earns Bilt Rewards. That means there are no multi-card combinations that allow you to supercharge your rewards.
You'll want to use the card at least 5 times a month
Another caveat with the Bilt World Elite Mastercard® Credit Card is that you’ll have to make at least five purchases with it per billing cycle to be eligible to earn meaningful rewards. For many, that won't be a steep requirement, and there’s no minimum purchase amount stated. But it does mean you’ll want to use the card for more than rent each month.
What happens if you make fewer than five purchases in a billing cycle? In that case, you will earn a flat 250 points for your rent payment and no rewards on any other purchases that cycle.
Limited use for people who don't rent
The Bilt World Elite Mastercard® Credit Card is built for renters. Sure, the card lets you earn bonus rewards on dining and travel. But other no-annual-fee cards, like the Wells Fargo Autograph® Card, also earn bonus rewards in those categories. The ability to pay rent is unique for a no-annual-fee rewards card that also provides access to travel partners. But if you won't pay rent with the card, you’ll be missing out on its core value proposition.
How To Decide If It's Right For You
The Bilt World Elite Mastercard® Credit Card is a game-changer for renters looking to earn travel rewards. A monthly rent payment is the biggest recurring expense for a large portion of the population, and until the Bilt World Elite Mastercard® Credit Card, there was often no way to pay it with a credit card without incurring a processing fee.
Now you can use a card, without processing fees, and earn valuable (and transferable) rewards. The process is easy for both renters and landlords, making the Bilt World Elite Mastercard® Credit Card a solid choice for qualifying renters looking to get rewarded for their monthly payments.
The Chase Freedom Flex® lets you earn 5% cash back on up to $1,500 per quarter in rotating categories, plus an unlimited 3% back on dining and drugstore purchases.
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Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
About the authors
Craig Joseph
Lead Writer
