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Bilt Mastercard Review (2024)
August 30, 2024
Bilt Credit Card at a Glance
The Bilt Mastercard® Credit Card, issued by Wells Fargo, is a unique credit card designed specifically for renters. It allows cardholders to earn rewards on rent payments without any transaction fees. This feature, combined with competitive rewards rates on dining and travel, makes it a compelling choice for those looking to maximize their everyday spending.
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What Redditors Are Saying
The Bilt Credit Card has received mixed reviews from users. Here are some of the common opinions shared on platforms like Reddit:
- Mixed Reviews: Some users have mixed feelings about the Bilt credit card. While some appreciate the ability to earn points on rent payments, others are disappointed with the overall rewards structure.
- Positive User Feedback: "I'm a fan of this card. I love earning AA miles for paying my rent!"
- Negative User Feedback: "The cash back is not as good as it appears - it's less than 1% on your rent because points can't be applied 1:1 on balance credit."
- Concerns About Fraud and Customer Service: Some users have raised concerns about fraud issues and the responsiveness of customer service.
- User Feedback: "Bilt Sucks! My wife with a 787 credit score was denied the card !!! She got approved a Chase Sapphire Preferred. Go w/ Chase."
- Differing Opinions on Value: There are differing opinions on the value and benefits of the Bilt Card, with some users finding it highly beneficial while others question its worth.
- Summary: Some commenters point out that the Bilt Card is a points card, not a cash back card, and suggest transferring the points to other programs like Hyatt for better value.
Pros and Cons
Pros
- No Annual Fee: Cardholders do not have to pay an annual fee to enjoy the benefits of the Bilt card.
- Rent Payments Without Fees: Earn points on rent payments without incurring transaction fees.
- Competitive Rewards Rates: Earn 3 points per $1 on dining, 2 points per $1 on travel, and 1 point per $1 on other purchases.
- Flexible Redemption Options: Use points for travel, fitness classes, rent credits, and more.
- Rent Day Bonus: On the first of each month, points earned on non-rent purchases are doubled.
Cons
- Limited Cash back: The card primarily offers points rather than cash back, which some users find less valuable.
- App Functionality: Some users report difficulties with the Bilt app, making it hard to track rewards and payments.
- Customer Service Issues: There have been concerns about fraud issues and the responsiveness of customer service.
How the Bilt Credit Card Works
The Bilt Mastercard Credit Card operates on a simple premise: earn rewards for paying rent and other purchases. Cardholders can pay rent through the Bilt app, which sends a check to the landlord if electronic payments are not accepted. This seamless process ensures you can earn rewards on your largest monthly expense without additional fees.
Bilt Rewards Structure
Cardholders earn 1 point per $1 spent on rent (up to 100,000 points per year), 3 points per $1 on dining, 2 points per $1 on travel, and 1 point per $1 on other purchases. To maximize rewards, cardholders must make at least five transactions per month.
Unique Bilt Credit Card Features
1. No Annual Fee:
Enjoy all the benefits of the Bilt Card without having to pay an annual fee.
2. Rent Payments Without Fees:
Earn points on rent payments without any transaction fees, a rare feature among credit cards.
3. Competitive Rewards Rates:
Earn higher rewards rates on dining and travel, making the card valuable for everyday use.
4. Flexible Redemption Options:
Redeem points for travel, fitness classes, rent credits, or even a down payment on a home.
Fees and Limitations
Variable Welcome Bonus:
The Bilt Credit Card may offer a welcome bonus, but the specifics can vary based on eligibility and promotional periods.
1% Cash Back on Most Purchases:
While the card's main focus is earning points, it does not typically offer significant cash back rewards.
Credit-Building Limitations:
The card's primary focus is on rewards rather than building credit, which may not be ideal for everyone.
How to View and Manage Your Bilt Card Online
Managing your Bilt Credit Card is easy with the online portal and mobile app. Log in to view your balance, make payments, and track spending. Some users report app issues that make management difficult at times.
Increasing Your Bilt Credit Card Limit
To increase your credit limit, please reach out to their customer service by calling the number on the back of the Bilt Card.
Comparing the Bilt Credit Card to Other Similar Cards
Bilt Card vs. Chase Sapphire Preferred® Card
- Annual Fee: Chase Sapphire Preferred has a $95 annual fee, while the Bilt Card has no annual fee.
- Rewards: Chase Sapphire Preferred offers 2x points on dining and travel, similar to the Bilt Card, but also offers a lucrative sign-up bonus.
- Additional Benefits: Chase Sapphire Preferred includes travel protections and the ability to transfer points to travel partners at a 1:1 ratio.
Bilt Card vs. American Express® Gold Card
- Annual Fee: American Express® Gold Card has a $250 annual fee (see rates & fees), while the Bilt Card has no annual fee.
- Rewards: Amex Gold offers 4x points at restaurants and 3x points on flights, higher than the Bilt Card's rates but with a higher fee.
- Additional Benefits: The Amex Gold Card offers significant dining and travel credits, which can offset the higher annual fee.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Bilt Card vs. Citi Strata Premier® Card
- Annual Fee: Citi Strata Premier Card has a $95 annual fee, while the Bilt Card has no annual fee.
- Rewards: Citi Strata Premier offers 3x points on air travel, hotels, and restaurants, which can be more beneficial for frequent travelers compared to the Bilt Card.
- Additional Benefits: Citi Strata Premier includes an annual hotel savings benefit and points transfer to airline partners.
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Is the Bilt Credit Card Right for You?
The Bilt Mastercard Credit Card is best suited for renters looking to earn rewards on their largest monthly expense. It's also ideal for those who frequently dine out or travel, given its competitive rewards rates in these categories. However, the card's focus on points rather than cash back and the need for at least five transactions per month to maximize rewards may not suit everyone.
Frequently Asked Questions (FAQ)
Is there an annual fee for the Bilt Credit Card?
No, the Bilt Credit Card does not have an annual fee.
Is Bilt an actual credit card?
Yes, Bilt is an actual credit card issued by Wells Fargo.
Is Bilt a hard card to get?
The Bilt Credit Card typically requires a good credit score for approval.
How does the Bilt card work?
The Bilt Credit Card lets you earn points on rent payments, dining, travel, and other purchases without transaction fees for rent payments. Points can be redeemed for various rewards.
What credit score do you need for a Bilt credit card?
You typically need a good credit score, around 670 or higher, to qualify for the Bilt Credit Card.
The Bottom Line
The Bilt Mastercard Credit Card is a revolutionary card for renters, offering a unique opportunity to earn rewards on rent payments without fees. With competitive rewards rates on dining and travel, flexible redemption options, and additional benefits like travel protections and no foreign transaction fees, the Bilt Card is a versatile and valuable addition to any wallet. However, it requires at least five transactions per month to maximize rewards, and it may not be the best choice for those seeking a high sign-up bonus or who do not pay rent.
Whether you're looking to earn rewards on rent, save for a future home, or enjoy flexible travel redemptions, the Bilt Mastercard provides a comprehensive solution that meets a variety of financial needs.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
