Easy Guide to Understanding the Bilt Card Rewards

If you are wondering how the Bilt Card Rewards program works, this article has the answer. This post will detail how this program works to ensure you get the most out of it.

Key Highlights

1. Earning Points:
   • Earn points on daily purchases, rent payments, and other transactions with the Bilt Mastercard®.
   • Make at least five transactions per billing cycle to qualify for the best rates.
2. Using Points:
   • Redeem points for travel, purchases, rent credits, or a down payment on a house.
   • Transfer points to hotel and airline loyalty programs.
3. Bilt Mastercard® Benefits:
   • There are no convenience fees for paying rent with the card.
   • No annual fee.
4. Bilt Rewards Rent Day:
   • Special perks on the first of each month, including sweepstakes, bonus credits, and points transfer incentives.
   • Earn up to six times the usual points on purchases on Rent Day.
5. Elite Status Tiers:
   • Blue: Less than 50,000 loyalty credits earned or no spending.
   • Silver: 50,000 loyalty credits annually or $10,000 in non-rent purchases.
   • Gold: 125,000 loyalty credits annually or $25,000 in non-rent purchases.
   • Platinum: 200,000 loyalty credits annually or $50,000 in non-rent purchases.
6. Elite Status Perks:
   • Silver: 10% bonus loyalty credits on renewals and leases, interest accrual on loyalty credits.
   • Gold: 25% bonus loyalty credits on renewals and leases, Homeownership Concierge Service.
   • Platinum: 50% bonus loyalty credits on renewals and leases, home art, or décor gifts.
7. Achieving Elite Status:
   • Earn points through purchases or spend a set amount on non-rent transactions with the Bilt Mastercard or other connected cards.
   • Elite status grants additional Rent Day perks and transfer bonuses.

How Bilt Card Rewards Works

This rewards program is simple and doesn’t require much effort. As a member, you accrue points when you make daily purchases, pay rent, and make other payments with the Bilt Mastercard®. You can read this post to learn about the pros and cons of paying rent with a credit card. However, to qualify for the highest and best rates, you must make at least five transactions using the card within each billing cycle.

The loyalty credits you earn can be used for travel and purchases. You can have them transferred to various hotel and airline loyalty programs. Furthermore, you can exchange your loyalty credits for rent credits or even put them towards a down payment on a house.

The primary method for accumulating a substantial number of points is to use the Bilt Mastercard, which Wells Fargo distributes. Although possessing the card (or even being a renter) is not mandatory to become part of this rewards program, it’s wise to have the card as it makes earning loyalty credits easier. Moreover, you can pay your rent without any convenience fees—a notable benefit of having the no-annual-fee Bilt Mastercard.

Bilt Rewards Rent Day

The first day of each month isn’t celebrated as anything special. This is especially true since most rents are due on the first of each month. Thankfully, the Bilt Rewards program understands this and offers a range of perks that make rent day more enjoyable and beneficial. Every first day of the month, you can benefit from numerous advantages.

This includes chances to win free rent in sweepstakes, bonus credits from trivia activities, points transfer incentives, etc. As a holder of the Bilt Mastercard, you’ll discover that your card has more valuable earning groups. Therefore, you can earn up to six times the usual points for every $1 you spend on purchases.

Bilt Rewards Elite Status

The company has introduced different elite status levels to ensure that the program’s benefits are more rewarding. These levels allow members to access exclusive perks, regardless of your level. In addition, you stand a chance to receive Milestone Rewards once you earn 25,000 points. This gives you further opportunities to access loyalty credits on the first of each month.

On January 3, 2024, the company raised the standard for achieving elite status by increasing the required points while mentioning the different methods of earning points.

Currently, the elite status tiers are as follows:

• Blue: Available to all members with less than 50,000 loyalty credits earned or no spending.
• Silver: 50,000 loyalty credits annually or $10,000 spent on non-rent acquisitions with the Bilt Mastercard or a different card connected to your Bilt wallet.
• Gold: 125,000 loyalty credits annually, or $25,000 spent on non-rent purchases.
• Platinum: 200,000 loyalty credits annually, or $50,000 spent on non-rent purchases.

The following are the main perks for each tier:

• Silver:

10% bonus loyalty credits on new renewals and leases.

Interest accrual on loyalty credits according to the FDIC national savings rate.

• Gold (includes Silver benefits, plus):

25% bonus loyalty credits on new renewals and leases.

Homeownership Concierge Service.

• Platinum (includes Gold benefits, plus):

50% bonus loyalty credits on new renewals and leases.

A collection gift comprising home art or décor.

You might be wondering how to get elite status. Well, you first need to earn an exact number of points in a year. You can visit https://www.chase.com/ to learn more about credit card points. Another option is to spend a particular amount of money on non-rent acquisitions using the Bilt Mastercard or a different card, provided it is connected to your Bilt wallet.

Aiming for elite status offers you the extra Rent Day perks only elites have. These perks are usually exclusive to profitable transfer bonuses. While it is beneficial to get this elite status, you shouldn’t go beyond your capacity trying to earn points or spend for it.

Conclusion

Although Bilt Rewards began in 2021, it has become famous for its rewards program. Cardholders can earn points that can be transferred and used on daily purchases and rent without paying an annual fee. Although the program is specially designed for renters, it is still open to everyone. All you need to do is get the Bilt Mastercard® and enjoy its perks.

In the article above, we discussed how this fantastic program works. We also provided information on the program’s elite status and how you can become an elite cardholder. Before you choose to get this credit card, we recommend you consult your financial adviser for further advice.