Bilt Mastercard Review: A first for renters and future homebuyers

• Rent Day bonus

  One of Bilt's best features is its Rent Day bonus points. On the first of every month, your Bilt Mastercard will earn double points on non-rent purchases for 24 hours, up to 1,000 bonus points. (Use your card five times each statement period to earn points. See Rewards & Benefits.):

  • Dining: 6X points (regularly 3X points)
  • Travel: 4X points (regularly 2X points)
  • Other non-rent purchases: 2X points (regularly 1X points)

  Once you reach the cap of bonus points, you’ll resume earning rewards at your standard rates. Bilt also introduces unique bonuses and promotions as part of Rent Day each month. If you time your purchases right, you can earn one of the best rates for dining and travel on the first of each month. 

• Elite status perks

  You’ll qualify for loyalty status based on the number of points you earn in a year. Your status will automatically update when you reach each benchmark and you’ll gain access to the associated benefits through the end of the following year. There's also a Fast Track option based on your spending rather than points earned.  

  These perks encourage you to use the card and accumulate points throughout the year. The bonus on lease incentives and interest earned on points once you achieve Silver status or higher are unique features that can also add points to your account. Here’s a look at each status level:

  Loyalty Tier	Points required	Benefits
  Blue	Less than 50,000 points per year	1:1 point transfers with airlines & hotels, with a minimum transfer of 2,000 points Access to the Bilt Collection  Build credit history by reporting on-time rent payments to credit bureaus Rent Day transfer bonus offers
  Silver	50,000 points per year or $10,000 in spending	All the benefits of Blue status, plus: 1:1 point transfers with airlines & hotels, with a minimum transfer of 1,000 points BLADE benefits Priority access to Rent Day experiences Higher Rent Day transfer bonuses
  Gold	125,000 points per year or $25,000 in spending	All the benefits of Silver status, plus: Access to the Bilt Collection Homeownership Concierge Gold priority access to Rent Day experiences Gold level Rent Day transfer bonuses
  Platinum	200,000 points per year or $50,000 in spending	All the benefits of Gold status, plus: Personalized gift from The Bilt Collection Complimentary BLADE flight Elite Flying Blue Gold status match Platinum priority access to Rent Day experiences Platinum level Rent Day transfer bonuses Platinum Member Specialist support

• Travel and cellphone protection

  The card's travel protections measure up well against its competitors. The card covers up to $5,000 worth of trip cancellation and interruption if your trip gets interrupted or canceled due to a covered event. There’s also trip delay reimbursement, which offers up to $200 per day for up to three days on a trip that’s delayed for at least six hours (up to $1,800 total for all covered travelers per trip), and an Auto Rental Collision Damage Waiver if your rental car is damaged or stolen. Coupled with its lack of foreign currency conversion fees, these features make the Bilt Mastercard an attractive travel card. 
  

  Wells Fargo also offers excellent cellphone protection. If your cellphone is damaged or stolen, the issuer may reimburse up to $800 for the cost of repair or replacement after any coverage provided by primary insurance as long as you pay your phone bill with your Bilt Mastercard (subject to a $25 deductible, with two paid claims per year). (See Guide to Benefits.)

Bilt Mastercard®

Bankrate Score

Rating: 4 stars out of 5

4.0

See Rates & Fees , Terms Apply

Apply now

on Bilt's secure site

Annual fee

None

Intro offer

N/A

Rewards rate

1X Points - 3X Points

3x points on dining. 2x points on travel. 1x points on other purchases. Earn 1x points on rent without the transaction fee, up to 100,000 points in a calendar year. When you use the card 5 times each statement period using your Bilt Mastercard, you'll earn points on rent and qualifying net purchases.

Recommended Credit Score

Good to Excellent (670 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Chase Freedom Unlimited®

Bankrate Score

Rating: 4.8 stars out of 5

4.8

Apply now

on Chase's secure site

Annual fee

$0

Intro offer

Up to $300 cash back

Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.

Rewards rate

1.5% - 5%

Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more. 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service. 1.5% cash back on all other purchases.

Recommended Credit Score

Good to Excellent (670 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Wells Fargo Autograph℠ Card

Bankrate Score

Rating: 4 stars out of 5

4.0

See Rates & Fees , Terms Apply

Apply now

on Wells Fargo's secure site

Annual fee

$0

Intro offer

20,000 bonus points

Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.

Rewards rate

1X - 3X

Earn unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Earn 1X points on other purchases.

Recommended Credit Score

Good to Excellent (670 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

• Bilt Mastercard vs. Chase Freedom Unlimited®

  The Bilt Mastercard is a rare no-annual-fee card that allows you to transfer your points to travel partners without a premium card to pair it with. This gives it a leg up over the Chase Freedom Unlimited card, which can’t access transfer partners unless you also have one of the premium Chase Ultimate Rewards cards. The Bilt Mastercard also doesn’t charge foreign currency conversion fees, unlike the Chase Freedom Unlimited. 

  However, the Freedom Unlimited card comes with the first-year value the Bilt Mastercard lacks. It combines an attainable welcome offer and intro APR offers with high-earning bonus categories and a boosted flat rate on general purchases for a terrific all-around package. While it may not be geared toward renters, it’s a great choice for standalone card for everyday purchases.

• Bilt Mastercard vs. Wells Fargo Autograph℠ Card

  Both cards outperform several entry-level travel cards, but the Autograph card goes a bit further. It offers elevated rewards rates in more everyday categories, a welcome bonus comparable to most no-annual-fee cards and an intro APR offer on purchases.

  If the majority of your purchases fall into the Autograph’s many bonus categories, the Autograph card is likely a better option on any day other than Rent Day. Meanwhile, the Bilt Mastercard has far more flexible redemption options, more transfer partners and opportunities for extra value.

• Amex® Everyday Preferred Card

  The Amex® Everyday Preferred rewards generously for several everyday categories, carries a decent welcome offer and includes an intro APR for purchases and balance transfers. This card complements the Bilt Mastercard well because it has boosted categories that Bilt doesn’t cover. As an extra incentive, these cards share nine transfer partners that you can transfer points from both programs towards.

• Chase Sapphire Preferred® Card

  The Chase Sapphire Preferred® is one of the best mid-level travel cards around thanks to its modest annual fee, solid selection of everyday rewards categories and generous perks. When paired together, these cards can provide renters with a comprehensive card strategy that covers many common spending categories. There are also also eleven overlapping transfer partners with both programs which can work in tandem towards an award booking.

• Renters

  Anyone interested in earning rewards on rental payments (up to 100,000 per calendar year) will benefit from having this card. Without a transaction fee, this card has no downside when used to pay rent. For instance, if you pay $20,000 in rent every year, the points you earn could be worth $420, according to Bankrate's estimations. That's money you could use for travel or to help pay next month's rent.

• Potential homebuyers

  Many of Bilt's features are geared toward helping cardholders pursue a home. Not only does the card help build credit, but Bilt’s gold and platinum elite statuses also offer the benefit of a homeowner concierge.

  Additionally, the Bilt app features a Home Buying Tool that helps you determine what type of home you can afford (and how your points can help). You can even redeem your points toward a down payment.

• Occasional travelers

  While there may be higher-earning travel rewards cards, this card can be advantageous for occasional travelers who prefer not to pay an annual fee for a premium travel card. The Bilt Mastercard allows you to transfer points for travel, has no foreign currency conversion fees and features comprehensive travel protectionst. You also take advantage of transfer bonus promotions for exceptional value.

• Rewards value

  The primary criteria for a rewards or cash back card’s rating is its rewards value. This includes the card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

  To estimate a card’s average annual rewards earnings, we first calculate its average rewards rate based on how much it earns in different bonus categories and how closely its categories align with the average person’s spending habits, according to data from the Bureau of Labor Statistics. 

  Based on this data, we determine a “chargeable” spend (which purchases are likely to be put on a credit card and earn rewards). This includes the following spending by category:

  • Groceries: $5,200
  • Dining out: $3,000
  • Entertainment: $2,500
  • Gas: $2,100
  • Apparel and services: $1,700

  Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 23 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

  This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases, as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value

  With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other rewards cards.

• Rates and fees

  We also rate cards based on how much it costs to keep them in your wallet or carry a balance. 

  To start, each rewards or cash back card is scored based on whether it offers an intro APR and how its ongoing APR compares to the rates available on other rewards or cash back cards. 

  We also score each card based on how its annual fee influences its overall value. 

  We consider a card’s annual fee in two ways — how it ranks relative to the fees you’ll find on other cards in the category and how it impacts a card’s overall rewards value. Cards with an annual fee will always be at a slight disadvantage in our scoring system since annual fees inherently cut into your rewards value, but if a card offers terrific value via its ongoing rewards and perks, it can earn a high score even if it carries a high annual fee. 

  With this in mind, we rate a card based primarily on how its ongoing rewards value and ongoing perk value (such as annual credits or bonuses) stack up against other cards in the category when you subtract its annual fee.

• Flexibility

  We rate each card’s flexibility based on the restrictions it imposes on earning and redeeming rewards and factor this rating into a card’s overall score. 

  Flexibility factors include whether a card only allows you to earn a high rewards rate on a small amount of spending or requires you to meet a certain earning threshold before you can redeem rewards. We also examine whether your points are worth less when you redeem for some options versus others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners. 

• Perks

  We also score each card’s set of features – its perks and benefits — against five tiers of features to provide a rating. 

  We break down these tiers as follows:

  • Tier 1 has less than standard card features (an ultra-streamlined card that offers basic utility and next to nothing in the way of ancillary benefits. 
  • Tier 2 includes the benefits you’d expect on standard Visa or Mastercard credit cards, such as free access to your credit score, car rental insurance and $0 liability for fraudulent charges. 
  • Tier 3 includes “prime card” or better-than-average card features like cellphone insurance, lost luggage insurance, concierge services and purchase protection. 
  • Tier 4 includes luxury features such as airport lounge access, elite status with an airline or hotel and credits for expedited security screening membership programs. 
  • Tier 5 includes the sort of exemplary benefits you’ll find on top-tier luxury cards, such as high-value travel credits, cardholder memberships and other unique and valuable perks.

• Does Bilt Mastercard report rent payments to all three credit bureaus?

  Yes, but you must opt-in to benefit from this feature. It can take 45 to 60 days (in some cases longer) before reported rent payments appear on a resident’s credit report. 

• Can I use the Bilt Mastercard to pay rent on any apartment?

  Nearly all apartments will accept the Bilt Mastercard as payment. If you pay rent via check, Venmo, Paypal or any other online portal, you can use the Bilt Mastercard® to earn points on rent when you use your card five times each statement period. 

  You can use the Bilt App to pay rent by check and still earn rewards. However, Bilt Mastercard does not currently support Zelle.

• Is the Bilt Mastercard a World Elite Mastercard?

  Yes, and you can enjoy enhanced benefits such as cellphone insurance, travel protections and concierge services.

What cardholders think

Bilt Mastercard®

4.0

46 ratings

In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are unedited and have not been reviewed or approved by credit card issuers.

72% of customers recommend this card

Score breakdown

5 stars

48%

4 stars

24%

3 stars

17%

2 stars

7%

1 star

4%

Score by category

Overall 4.0 / 5

Extra perks 3.5 / 5

Customer service 3.9 / 5

Online portal or mobile app 3.6 / 5

Intro APR length 4.1 / 5

Intro APR value 3.7 / 5

In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.