6 Things to Do When Opening a Bilt Credit Card
The Bilt credit cards require lots of maintenance in order to extract maximum value from them. That work begins more or less immediately.
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Updated · 3 min read
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Managing Editor With many credit cards, there's not that much on your immediate to-do list after approval: Just activate the card and go.
But the three Bilt credit cards — the Bilt Blue Card, Bilt Obsidian Card and Bilt Palladium Card — aren’t typical. In fact, they’re some of the most high-maintenance rewards cards in today’s market.
To be sure, they can deliver high-value rewards to the holder willing to maintain them. But that work starts more or less immediately.
Here are six actions to take when opening a Bilt credit card.
How the cards compare
Annual fee
- $0
- $95
- $495
Bilt Points on rent/mortgage payments
Up to 1.25x points.
Up to 1.25x points.
Up to 1.25x points.
Bilt Points on other spending
- 1x points on everyday purchases. (You'll also earn 4% back in Bilt Cash on these purchases, if you choose that option.)
- 3x points on your choice of dining or grocery (on up to $25K in spending per year in the grocery category). Your choice category may be changed once a year.
- 2x points on travel.
- 1x points on everyday purchases.
- (You'll also earn 4% back in Bilt Cash on these purchases, if you choose that option.)
- 2x points on everyday purchases. (You'll also earn 4% back in Bilt Cash on these purchases, if you choose that option.)
Welcome offer
$100 of Bilt Cash when you apply and get approved.
$200 of Bilt Cash when you apply and get approved.
50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 3 months + $300 of Bilt Cash.
Anniversary bonus
None.
None.
Annual $200 Bilt Cash credit.
Additional perks
- Multiple transfer partners.
- Multiple transfer partners.
- $100 Bilt Travel portal hotel credit, split semi-annually, per calendar year. (Minimum two-night stay required.)
- Multiple transfer partners.
- $400 Bilt Travel portal hotel credit, split semi-annually, per calendar year. (Minimum two-night stay required.)
- Access to participating Priority Pass lounges and landings. (Two guests allowed on every visit.)
Authorized user fee
$0.
$50.
$95.
APR
The ongoing APR is 26.74%-34.74% Variable APR
The ongoing APR is 26.74%-34.74% Variable APR
The ongoing APR is 26.74%-34.74% Variable APR
Foreign transaction fee
- $0
- $0
- $0
Learn more
1. Choose how you want to earn Bilt Points
Every Bilt credit card can earn Bilt Points on housing in one of two ways: a "housing-only" option, or a "flexible Bilt Cash" option. One of the first things you'll need to do is select the option that best suits you. If you don’t make a choice, your card defaults to the housing-only option, though you can change your selection any time.
Here’s an overview of the two options:
- Housing-only. Bilt cardholders earn Bilt Points on rent or mortgage payments with no transaction fee — but how many points you earn depends on how much non-housing spending you put on the card. To earn the top 1.25x rate on housing payments, you need to spend at least the same amount of your housing payment on other purchases in that month. So, given a $5,000 mortgage payment, you’d need to make $5,000 in non-housing purchases to earn the full amount of Bilt Points on that payment.
- Flexible Bilt Cash. In this scenario, Bilt cardholders earn Bilt Points on all non-housing purchases plus 4% back in a separate currency called Bilt Cash. Bilt Cash can be redeemed in a number of ways, perhaps the most notable being to “unlock” Bilt Points on rent or mortgage payments. (Essentially, you're using Bilt Cash to cover a 3% transaction fee on housing payments.) In this redemption option, $30 of Bilt Cash is worth 1,000 Bilt Points. Given a monthly mortgage of $5,000, you’d need to redeem $150 of Bilt Cash to earn the full 5,000 Bilt Points on that payment.
Clearly, both rewards-earning options require some math, so you’ll probably need to run the numbers before making your selection.
2. Snag your virtual credit card number
Once you're approved for a Bilt credit card, it may take a while to receive the physical card in the mail. If you'd rather not wait and want to start using the account immediately, Bilt provides you a virtual card number that you can use for online purchases and in digital wallets like Apple Pay.
For security purposes, you can "regenerate" this number if needed.
Once you receive your physical card, you'll need to activate it in the Bilt app.
3. Link a bank account to your Bilt account
Confusingly, you don't actually put your rent or mortgage payment on your Bilt credit card.
Rather, you'll need to link a bank account to your Bilt account; your rent or mortgage payment will be withdrawn directly from that account.
This process will require that you input your bank account and routing numbers in the Bilt app.
4. Familiarize yourself with Bilt Cash
As noted earlier, it’s possible to toggle between the two rewards-earning options from month to month, so there’s a good chance that you’ll have to navigate the complex world of Bilt Cash at some point in your Bilt card-carrying lifetime. Do your future self a favor and brush up on the rules around Bilt Cash now. Pay particular attention to expiration dates and credit maximums, of which there are many.
Case in point: While you can’t transfer Bilt Cash to airline or hotel partners, you can redeem Bilt Cash for a credit toward an eligible hotel stay. However, the amount of the credit varies depending on your status within the Bilt Rewards loyalty program, the hotel must be booked through the Bilt travel portal, and you must book a minimum two-night stay. Read our guide on Bilt Cash for all of the fine print.
5. Locate the Bilt partners in your neighborhood
Bilt has established a network of more than 45,000 partner merchants that allow Bilt members to earn Bilt Points for their patronage. These include restaurants, gyms, pharmacies and companies like Rakuten, for example.
Go to Bilt’s website to find where the Bilt partners are in your area and how many Bilt Points you can earn by making a purchase. As a bonus, the Bilt Points earned from shopping or dining within the Bilt network stack on top of the rewards you’ll normally earn with your credit card.
6. Link loyalty accounts to Bilt
For example, if you have a Lyft or Walgreens loyalty account, link them to Bilt. Doing so will allow you to earn extra Bilt Points on Lyft rides and Walgreens purchases.
Bilt members can earn 2x Bilt Points on Lyft rides booked through the Lyft app and when you select Bilt Rewards as your active loyalty partner. Bilt Points may also be redeemed within the Lyft app to pay for all or part of a ride.
When linked to Walgreens, Bilt members earn 2x Bilt Points on Walgreens-branded products, 1x Bilt Point on all other Walgreens purchases and 100 Bilt Points on prescription refills (on up to 26 refill transactions per year).
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