Wells Fargo has announced that it will become the official issuer of the Bilt World Elite Mastercard through a new strategic partnership with Bilt Rewards, which is the best loyalty program for renters. Now the card is available to everyone.
Update 4/12/23: Points cap has been increased from 50,000 to 100,000.
Update 10/22/22: Bilt is offering a new referral program. You can earn 2,500 bonus Bilt points for each referral to the Bilt Rewards Mastercard. Get an additional 10,000 points for every five referrals. Max 2,025,000 points can be earned through the program.
This first-of-its-kind co-branded credit card lets people pay rent and earn points at most rental properties in the U.S. without having to pay any transaction fees. Through this new partnership, renters all over the country will be able to earn rewards that can be used for things like travel, access to their favorite fitness classes, and even credit towards a down payment on a home.
The Bilt credit card and Bilt Rewards have been around for a few years. Up until now, you could only get a Bilt Mastercard if you were invited. But now that Wells Fargo is the official issuer of the Bilt card, millions of renters across the country who qualify can get the card and start earning points.
Card Details
- 1X points on rent payments without the transaction fee, up to
50,000100,000 points each calendar year - 2X points on travel
- 3X points on dining
- 1X points on all other purchases
- Earn double points on the 1st. Earn even more on Rent Day with 6X on dining, 4X on travel, and 2X on other purchases (except rent).
- Bilt Points ranked as the most valuable rewards points (above Amex Membership Rewards and Chase Ultimate Rewards), by Bankrate.com.
- No foreign transaction fees
- Lyft credits. Take 3 rides in one calendar month, get a $5 Lyft credit with your Bilt Mastercard.
- DoorDash credits. Get a 3-month DashPass membership for free as a new member with your Bilt Mastercard. Plus, both new and existing members get $5 off their first order each month.
- Transfer your points 1:1 to one of our many world-class partners.
- Redeem your Bilt Points to save on next month’s rent payment, or save your points and put them towards a down payment—with the first rewards program to let you redeem points towards homeownership.
- We’ve partnered with the nation’s top group fitness classes so you can redeem your points for some of the most popular classes – starting at just 1,600 points a class.
- With the Bilt Collection, you’ll have exclusive access to our hand-curated catalogue of art, decor, and apparel—all inspired by that season’s featured artist.
About Bilt Rewards
The Bilt Mastercard is being released in partnership with Bilt Rewards, the leading loyalty program for renters. Bilt Rewards was released in 2021 by an alliance of the nation’s largest multifamily property owners and managers, including AvalonBay, Blackstone, Camden, Cushman & Wakefield, Equity Residential, GID, Related, SLGreen, Starwood, and Veritas, among others.
At the moment, the alliance is made up of more than 2 million apartment units. With Wells Fargo as the card issuer, more of the 109 million renters in the United States will be able to get a Bilt Mastercard.
Through its high-value loyalty program, Bilt members and cardholders can use their points for stays at over 100 major hotel and airline partners (through point transfers), fitness classes at the country’s best boutique studios like SoulCycle, Solidcore, Rumble, and Y7, limited-edition and exclusive collections of art and home decor through the Bilt Collection, and even rent credits.
Bilt Rewards will also be the first program to let members use their points for a down payment on a home through Fannie Mae and the Federal Housing Administration. This means that cardholders can lower their future mortgage costs by paying rent, making it easier for them to buy a home in the future.
With Wells Fargo’s help, renters can use the Bilt Mastercard to pay rent and earn points at any rental unit in the U.S., even if their landlords don’t accept credit cards. For buildings that don’t take credit cards or digital payments, cardholders can pay their rent through the Bilt app, and a check will be sent to the landlord on their behalf.
Members of Bilt Rewards can earn 250 points every time they pay their rent. But Bilt Mastercard cardholders can accumulate points faster. To get points, they must, however, use their card at least five times during each statement period. And:
- No matter how much your rent is, you will get 250 points for that payment (rent payments can only be made to one rental property per month).
- If you don’t make at least 5 transactions that post to your account in a statement period, you’ll only get 250 points when you use your Bilt Mastercard to pay rent through the Bilt App. There is no minimum spending that you have to do, and your rent payment is counted as a transaction.
Bilt Rewards Referral Program
You can get 2,500 Bilt Points for every approved Bilt credit card account that you refer.
You’ll get an extra 10,000 Bilt Points for every five (5) successful referrals you make. You’ll get these points on top of the 12,500 (2,500 times 5) Bilt Points you’ll get from the referrals themselves.
Through this program, you can get up to 90 rounds of 5 Referral Bonuses, which is worth a maximum of 2,025,000 Bilt Points.
Bottom Line
This is an interesting credit card that stands out from the rest because members can pay rent and earn points at the same time without having to pay any fees. You can also get 3X points when you eat out and 2X points when you purchase travel.
Those who have the legacy card will keep using the current card for at least a few more months. There are plans to switch the old card to the new Wells Fargo Bilt World Elite Mastercard at some point. Both the old card and the new one don’t have an annual fee.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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