Earn points on rent!
If you’re like me, your biggest monthly expenses are on housing costs. I’ve always felt bummed that I couldn’t optimize my spending on my single largest expense to earn points. Fortunately, with the Bilt app, I can now earn points on rent! Unfortunately, I still don’t have a great solution for those of you with a mortgage payment.
Earn rewards on your rent payments with Bilt.
What is Bilt?
Bilt is a new(ish) program that allows you to earn 1x point per dollar spent on rent, up to a maximum of 50,000 points each calendar year ($4166 spent each month). These points can be used to book flights, hotels, car rentals, or activities in the Bilt rewards app which is powered by Expedia like many of the other credit card travel portals out there. Points used in the portal are redeemed at a rate of 1.25 cents per point (just like the Chase Sapphire Preferred). I haven’t used the travel portal yet, but folks like Max Miles Points have been highlighting the use of these points to cover Disney tickets, which are typically harder to pay for with points than flights.
The other way you can redeem in the Bilt rewards program for travel is by transferring points to airline and hotel partners. Many of the travel partners are great compliments to other programs. For example, United and Hyatt are my two most commonly used Chase Ultimate Rewards transfer partners. Having the option to transfer my Bilt points to these programs allows me to top up points balances that I already have. It is worth noting, though, that Bilt allows you to transfer to American Airlines Aadvantage, which does not have another partnership with any of the major credit cards, so if you fly American frequently this could be a great option for you!
So far, I have exclusively used my Bilt rewards points to transfer to the World of Hyatt program. This year, I’m trying to stay in as many Hyatt properties as possible to take advantage of my Hyatt Globalist status. So topping up my Hyatt balance with both Bilt and Chase points has been awesome.
You can also redeem your points for art in the "Bilt collection," group fitness classes, and shopping, but since this is a travel blog I won't talk about those. These might make this a good card for your renter friend that doesn't want travel points though.
How does it work?
When I first signed up for Bilt, I provided my landlord’s information and Bilt would print and send a physical check before my rent was due each month. I was willing to do this for the sake of points (and it worked well every time) but I’m so glad there’s an easier option.
Now, Bilt allows you to pay your rent directly through your renter portal by providing ACH details as if your Bilt account was a bank. This allows you to bypass any transaction fees associated with paying with a credit card. If you go with this option, make sure to read the instructions fully before proceeding because you do not want to be charged a credit card fee!
If you don’t have an option to pay your rent via ACH, the check option is still available, and it really did work for me for the three or so months I tried it.
What’s the catch?
There’s no big catch! The only thing you should note is that in order to earn the points on rent, you need to make at least five non-rent purchases on the card each month. To make sure I do this every month, I have five recurring monthly payments set up to be paid with the card.
The card does offer 3x points per dollar spent on dining, so if you don’t have a more rewarding card for dining (like the Amex Gold) then you might consider keeping the Bilt Rewards mastercard in your wallet to pay for restaurants. If you go to at least five restaurants per month, then you would easily hit the five purchase requirement while earning lots of points on restaurants as well.
The second bonus earning category is 2x points on travel. These rewards categories compete with many of the mid-tier credit cards out there and this one comes with no annual fee! For spending outside of one of these bonus categories, you'll earn 1x points on each dollar spent, so I'd recommend directing that spend to a card like the Chase Freedom Unlimited or Capital One Venture Rewards to earn more bang for your buck.
How many points do you earn?
At first, I almost passed on this card because the number of points I'd earn each month didn’t sound like it was worth the trouble (there’s no sign-up bonus associated with this card). However, I’ve been able to book multiple hotel stays because I just needed a few thousand extra Hyatt points to make my trip happen. Since there’s no other way to earn credit card rewards points on monthly rent payments (my biggest expense!), I am getting bonus points that I wouldn’t be able to get without the Bilt Rewards credit card. Those few thousand extra reward points each month really add up!
A note about credit cards
I’m recommending this card because I’m able to pay off my credit balances in full each month. If you think you would be tempted not to pay off your balance each and every month, do not consider opening this card. The points earned on your rent payments would pale in comparison to paying high interest rates on a large amount like the cost of rent. This applies to every card I recommend, but especially this one because the potential to put a lot of spend on this card is so high. The easiest way to ensure you make your credit card payments each month is to set up autopay to pay your statement in full each month after your new card arrives.
#NotSponsored
After writing this post, I realize it kinda sounds like an ad. This post is not sponsored by Bilt, I just really think it has filled a gap in the market to provide a loyalty program for us renters. However, if you’d like to support the blog, you can use my personal referral link when you sign up for Bilt.
What questions do you have about the Bilt Rewards credit card? Have you been waiting for a way to use a credit card to earn points on rent?
