Have you ever wondered if your credit card transaction could do more for you? Many issuing institutions dictate the usage of each card, often limiting its utility. For instance, not every credit card allows you to pay rent using its funds. Does your current card offer this convenience?
It would save renters a lot of stress and probably provide a means to earn rewards when spending considerable amounts monthly on rent. That is why we bring you the Bilt credit card, which has several perks others do not yet have. But is the Bilt credit card worth it? Should you consider getting one, especially if you have huge monthly expenses? Let’s discuss it further to see what it offers.
What Is the Bilt Credit Card About?
The Bilt credit card, powered by Mastercard, is not just another card. It’s a rewarding experience. With each use, you earn rewards that escalate with your spending. But here’s the kicker – unlike many other options, Bilt allows you to pay your rent with it.
Considering monthly rent is a significant expense, this feature opens up reward opportunities with each payment. You do not need to be a holder to enjoy the perks; you can download the Bilt rewards app and join the program to make rent payments.
One of the best parts of using Bilt is the no-surcharge policy when users pay rent. For many, usage means incurring transaction fees, but this option does not charge extra for transactions, even those as high as monthly rent. Another benefit is the lack of annual fees. Many issuers charge for yearly maintenance and other purposes; some charge higher than others—only a few charge no annual fee, reducing the amount you pay to own them.
But while it has several perks that should attract the average renter and worker because of the ease of use for various purposes, you must also be aware of a few downsides. For example, unlike similar rewards credit cards, Bilt does not offer sign-on bonuses.
You must also use it five times each billing cycle to qualify for reasonable rewards. If you opt for Bilt, consider using it for more than rent payments; use it for other expenses to increase your chances of earning more. Click here to learn about the pros and cons of using BiltMastercard.
The following are the basic features of the rewards credit card:
- It is a travel and rewards type, focusing on delivering points for frequent travelers and people with high expense limits.
- For rent, the renter earns 1 point for every 1 dollar they spend on rent. They can earn as much as 100,000 points every 12 months or one calendar year.
- The owner earns 1 point for every 1 dollar spent on other expenses. The more you spend on groceries, gas, and other items, the higher your earnings.
- Bilt offers 2 points for every dollar spent on travel. Using the card to pay for your flight ticket and other expenses while on the move will earn more points. Frequent travelers may get more out of it than renters, especially if they spend heavily on every travel.
- You can also use the card in restaurants; you earn 3 points for every dollar spent. People who frequently dine out can take advantage of this perk and earn while enjoying fine dining.
- If you regularly use Lyft, consider linking your account to your Lyft account. You can earn as many as 5 points for every dollar you spend on Lyft, so the more you use the cab service, the higher your rewards.
- The credit card does not offer a sign-on bonus, so new account holders do not receive points. Sign-on bonuses usually attract many potential customers, especially those with high offers.
- There is no annual fee for maintenance. While this is not a unique offer, it is a perk worth noting because of the money it saves for users who are on a tight budget.
- In addition, there is no surcharge for transactions like rent payments. The same applies to foreign transactions. Travelers can enjoy shopping without the concern of paying a percentage of their expense amount as Transaction fees.
This list of features also includes benefits that anyone can take advantage of, regardless of their account type. Other benefits include a free ShopRunner membership, which is two-day unlimited shipping and return shipping access for over 100 online stores, and primary coverage for auto damage if you get and pay for a rental car with the card transaction.
It also offers cell phone coverage or protection if you pay your phone bills with Bilt; the coverage can be as high as $800 with a $25 deductible. This resource has more information to help you make an informed decision when choosing a credit card.
Conclusion
Is Bilt’s credit card worth it, or should users look for other options? If you are a renter, this card may be the best bet for earning rewards while making one of the biggest monthly expenses. Considering there are no transaction fees, it also saves money while providing value. Frequent travelers can also earn big, especially if they are high spenders. The benefits are numerous, so it is worth it for the average user.
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