Zero-fee rent payments: A review of the Bilt Mastercard
Bilt Mastercard overview
The Bilt Mastercard® has no annual fee (see rates and fees) but offers a slate of perks in addition to its core principle: the ability to earn points when paying rent and doing so without a fee. The Bilt card provides several benefits related to paying rent. However, it also provides enough benefits between built-in perks and points-earning capabilities that it could be attractive even to those who don't pay rent each month. Card Rating*: ⭐⭐⭐
*Card Rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
The Bilt Mastercard is the latest step in the idea that people should be able to earn rewards when paying rent and shouldn't pay fees in the process. As part of this idea, Bilt Rewards launched with a limited network of landlords and apartments, originally requiring you to live in an associated property to earn these rewards. However, Bilt launched its credit card to expand the number of people who could earn rewards on rent payments and then expanded further when Wells Fargo started issuing this card with World Elite Mastercard benefits.
The Bilt Mastercard is not a luxury credit card and has some peculiarities that we will discuss below; such reasons have led some people to ignore it in favor of cards with more lucrative bonuses. However, for those who can't pay rent with a credit card (or have to jump through hoops and/or pay fees to do so), the Bilt Mastercard solves the problem of trying to earn rewards on rent payments (while trying to avoid exorbitant fees that negate the value of points you earn along the way).
Let's look at the ongoing benefits offered by the Bilt Mastercard and its unique earning structure to see whether it merits a place in your wallet.
Who is this card for?
The Bilt Mastercard is ideal for those who pay rent each month and want to earn credit card rewards but don't want to pay fees along the way. Many options for paying rent with a credit card will incur fees of 2-3%, which can reduce or eliminate the value of any rewards you earn when paying rent by credit card. The Bilt Mastercard is worthwhile for those looking to earn transferrable rewards points on rent payments without a fee.
However, you can earn rewards for referring friends and family to sign up for the Bilt Mastercard. You will earn 2,500 Bilt Rewards points for each person who applies for and is approved for the Bilt card using your link. You'll also earn 10,000 bonus points for every fifth successful referral — up to 2 million points.
Related: Should I pay with a rewards credit card even if it incurs fees?
Main perks and benefits
You can enjoy multiple benefits with the Bilt Mastercard, many of which come from the fact this is a World Elite Mastercard. The benefits on the Bilt Mastercard can be divided into four categories: rent-related benefits, credit-building, insurance protections and purchase credits. You can read the full details on the Bilt Rewards and Benefits page.
