Old Oct 7, 2023, 1:25 pm
FlyerTalk Forums Expert How-Tos and Guides
Last edit by: Dr Jabadski
Bilt Rewards Mastercard WikiPost

(10/7/23 Original author (Dr Jabadski) note: As I posted here on 9/9/23 “Considering I’ve been salivating about simple no-cost points-etizing (like monetizing) my condo payments for about 25 years, I see Bilt as a game changer.” I should have added “almost a Holy Grail” (a thing that is eagerly pursued or sought after). I successfully applied for a Bilt Mastercard 1 month ago thus I’m far from an expert. Both before and after approval I posted multiple questions many times on this thread and several other FTers were highly gracious and informative. Thought a WikiPost might save some others a good deal of time, effort and aggravation, at least in not repeating my questions and searching for the answers. I certainly hope the experts will edit and update this WikiPost as necessary. I’m also exercising Writer's Prerogative to officially coin the term “pointsetize”, like monetize “convert into or express in the form of currency”, to earn points from payments which otherwise would not earn points.)

Bilt Rewards Mastercard (Bilt MC) was first launched in mid-2021, in good part as a no fee way to charge and pointsetize rent payments. (Perhaps the only no fee way to pointsetize rent payments.) There are multiple reports of earning Bilt points for paying condominium monthly maintenance/common charges, sometimes even when the word “condo” or “condominium” is in the transaction description.

Bilt MC is a personal credit card, WF reports credit card information to the various credit bureaus and Bilt MC will count toward Chase 5/24.

This post and this post (both from 9/7/23) describe shutdown reports perhaps related to “micro transactions”, fluctuating rent payment amounts or multiple rent payments. This 10/11/23 post includes several references to Reddit user quotes about shutdowns and several Reddit Bilt quotes in response.

Links to Bilt Rewards Terms of Use and Evolve Bank & Trust (Bilt Technologies) Customer Account Agreement. The Terms state “Bilt may make available to you a Bilt Rent Account (“Account”), which is a transaction bank account that can be used by you solely to make rent payments.” The Agreement states: “For the avoidance of doubt, the Account is a transaction bank account that can be used by you solely to make rent payments. For the avoidance of doubt, this is not an account that you may use to deposit or withdraw funds for any other purposes outside of rent payments.”

Bilt MC is a metal card weighing ~16 grams (comparisons: AmEx biz plat 18.5 gm, AmEx Gold 15 gm, Chase Sapphire Reserve 13 gm, traditional plastic card 5 gm).

Bilt Mastercard is issued and managed by Wells Fargo. Bilt Rewards is a separate website and app (which contains some credit card information but not as much as WF website).

Most reports are of instant approvals, Wells Fargo reconsideration phone number and experiences are not well documented. Reported initial Credit Limits vary $4,000 - $30,000 with higher limits more commonly reported. This post (9/1/23) describes one instance of a “Something went wrong” message upon application and the steps toward approval several days later.

Rent payments can be made in multiple different ways. Bilt will provide a (bank) routing number and account number. ACH rent payments can be sent (deposited) by Bilt or withdrawn by a managing company.

Bilt MC is shipped via trackable no-signature-required First Class mail in a small (4.5” x 6.5”) white box with unique packaging inside as pictured at the bottom of this post. As of Feb 2024 no reports of expedited shipping.

Reports on this thread starting in late November 2023 indicate this "quasi-SUB" may be offered randomly and/or only to some people, selection criteria unknown. This post may be the only report of being offered the quasi-SUB prior to Bilt Mastercard application, based on existing Bilt Rewards account. Bilt's “quasi-SUB" is offered via an email and a text message notification the same day as card receipt informing of 5x/5 days/max 50K (email quoted verbatim in this post). (Quasi* due to very short duration in contrast to many traditional SUBs of 3 month duration.) Please note this quasi-SUB maxs out at $12,500 (not $10,000) and tax payments will count. No reports yet of returns and their effect on quasi-SUB. (* “quasi-“ a combining form meaning “resembling,” “having some, but not all of the features of,” used in the formation of compound words: quasi-definition; quasi-monopoly; quasi-official; quasi-scientific.)

Newly earned Bilt points will display as “pending” until 5 transactions per statement cycle. After 5 transactions, points will post and become available shortly after a transaction, before statement date. The Bilt Rewards website has a “transaction counter” which disappears upon reaching 5.

Bilt points for linking partner programs (100 points each) and for adding a credit card to Bilt Wallet (100 points each for first 3) post immediately. Original author received 500 point bonus for first rent payment.

Bilt Rewards points are transferable at 1:1 usually within a few minutes to multiple different airline and hotel programs.

There’s discussion of the long term viability of Bilt with some of those posts linked at the bottom of this post after “BREAK”.

Bilt Status Tiers: Blue - anyone enrolled in Bilt Rewards with under 25,000 points, Silver - 25,000 points earned, Gold - 50,000 points earned, Platinum - 100,000 points earned. “Tier status earned at any point in a year remains active through the end of the following year.” “Earn Interest on Points” (Silver, Gold, Platinum Tiers) is minimal, discussed on this post and this post.

Bilt Points Quest Trivia on the first of each month offers up to 250 points for correctly answering, within 10 seconds, 6 (out of 15-20) questions. Must get first 5 questions (10, 20, 30, 40, 50 points) correct to see the 6th “bonus” 100 point question. There’s often a Reddit thread with the Q & A. (Point Quest - October 2023 Answers) The lower half of this post has comments from a highly experienced “test taker” regarding memory, recall and “studying” for Points Quest Trivia.

Bilt also has various “RentFree” games, available a few days prior to and/or on the 1st of the month, different people get different games. Could be a Family Feud style question with enough time to Google answers or a “Where's Wally?” (Bilt Brick) type of game or something else. Successful completion enters to be one of 3 people for whom Bilt pays their monthly rent (up to $2500).

List of Bilt’s Rent Day promotions going back to October 2022 at the bottom of the page here: DEALSPOINTS.

June 2024: Bottom of this post describes one person’s experience paying a significant assessment (and earning points) with Bilt MC, at this time (only 3 weeks later) no report of clawback or shutdown (based on using Bilt to pay rent more than once a month and/or for something other than rent/condo fees).

June 2024: Bottom of this post contains Bilt quotes regarding Bilt BiltProtect.

June 2024: Important post (and link) stating that WF is losing money every month on Bilt.



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Bilt Mastercard

Old Oct 31, 2021, 12:01 pm
  #16  
 
Join Date: May 2015
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Has anyone experienced issues with their rent check not making it to the landlord? I initiated my rent payment on 10/20 and as of EOD 10/29, my property manager said she still hasn't received it. Check was mailed from SFO 10/20 according to the app and arrived in NYC USPS on 10/22.
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Old Nov 21, 2021, 6:19 am
  #17  
 
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Originally Posted by darkice81
… I initiated my rent payment on 10/20 and as of EOD 10/29, my property manager said she still hasn't received it. Check was mailed from SFO 10/20 according to the app and arrived in NYC USPS on 10/22.
Obviously a major concern for anyone contemplating this card. Any update to this datapoint?

BREAK

From Chase’s viewpoint, is Bilt Mastercard a personal card or a business card, will it count toward 5/24?

My condo monthly common charges (paid by automatic ACH transfer initiated by the management company at my request) post to my checking account as “ABC condo rent”, would Bilt see condo monthly common charges as “rent payment”?

Thank you.
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Old Nov 21, 2021, 7:38 am
  #18  
mia
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Originally Posted by Dr Jabadski
...is Bilt Mastercard a personal card or a business card.
I think what we really need to know is if Evolve Bank reports the account to credit bureaus. Early applicants might be able to see the account on their credit reports by now.
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Old Nov 21, 2021, 9:03 am
  #19  
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Renters using Bilt to pay rent can have their rent payment history reported to the credit bureaus without a cost. That is to help the renting customers to develop stronger credit reports over time. Assuming Bilt wants it customers to develop stronger credit reports, I would hope they report the MC accounts to the credit bureaus.
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Old Nov 22, 2021, 12:11 am
  #20  
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Originally Posted by mia
I think what we really need to know is if Evolve Bank reports the account to credit bureaus. Early applicants might be able to see the account on their credit reports by now.
Yes, I can confirm that the account and balance are reported just like any other card.
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Old Nov 22, 2021, 1:44 pm
  #21  
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if they offered 5x on categories and a signup bonus I would consider it despite the fact I do not rent . They are using the usual marketing tricks to make it rare and valuable like a nightclub with a line but no one at the club . It has no annual fee which is positive but unless you don't have access to Hyatt,aa and other partners this is for you .Despite the useless crap 1 portal for hertz, same day purchases, lack of accurate j and f pricing its a card is worth a lot . 5 priority passes so 15 get people access to lounges, dining,spa credits and the great crap 1 lounge. Despite it being a predatory sub prime lender that takes advantage of the poor as long as you pay your balance and spend bonus spend on other cards you will bankrupt capital one. Good news is capital one can afford this loss leader as they make their money on usury fees and sueing the less fortunate .
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Old Nov 22, 2021, 3:01 pm
  #22  
mia
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Originally Posted by disloyalty
.... .Despite the useless crap 1 portal for hertz, same day purchases, lack of accurate j and f pricing its a card is worth a lot . 5 priority passes so 15 get people access to lounges, dining,spa credits and the great crap 1 lounge. Despite it being a predatory sub prime lender that takes advantage of the poor as long as you pay your balance and spend bonus spend on other cards you will bankrupt capital one. Good news is capital one can afford this loss leader as they make their money on usury fees and sueing the less fortunate .
This card is not issued or serviced by Capital One.
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Old Feb 4, 2022, 6:51 am
  #23  
 
Join Date: Oct 2021
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How does Bilt classify it as rent when its not thru a big company? What if I'm renting from a friend off the books will they mail him a check?
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Old Feb 16, 2022, 1:06 pm
  #24  
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Option to Pay Rent with Bank Account/Routing Number

This make more interesting play. Has anyone used this feature and I'm sitting on the fence as whether Bilt MasterCard would be worth a slot in 5/23 Chase slot.
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Old Feb 24, 2022, 11:14 pm
  #25  
 
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I've used Plastiq on the BBP because when they were raising the fee from 2.5% to 2.85%, I locked in payments as far in the future as I could.

But I've had issues with Plastiq sometimes, or more specifically with USPS. Feels like USPS has gone downhill in the past couple years, much higher incidence of not receiving personal mail (like health insurance reimbursement checks that I know were mailed), and I'd say 5-15% of Plastiq checks never arrive at my leasing office and then I had to have Plastiq void it and stress to the office to please not deposit any check that might arrive because it was voided.

Anyway, today my property company joined Bilt so I was able to apply for the card and it seems worth to earn 1x for no fee vs 2x AMEX MR at 2.5%. The points aren't as versatile so I have a less constant stream of ANA miles, but it also gives me a way to generate AA miles which I haven't had in the past, as well as Hyatt points. Most importantly is that the payment just posts immediately on my resident portal so I'm not going to have payments get lost.

Honestly thinking I'm going to downgrade my CSP now. Seems completely replaced for me by this Bilt card. I was really surprised to see that they have Hyatt and AA on the partner list. I was also impressed that it has no FTF despite the 2x travel and no AF. I had assumed it must have a FTF.

By the way, some earlier posts in this thread mentioned partners not being available yet. I set the ones I care about up in the Bilt app and it looks like they're all functional now, including Aeroplan, Hyatt, AA.

An important note that I didn't realize before getting the card is that as a "basic" member you can only transfer points in 5000:5000 increments. Once you level up by spending 25K, you can transfer at 1000:1000. Since I live in hell the Bay Area, 25K spend will be no problem with rent.

It also looks like you need to make 5 purchases per period to be eligible for points earn. I am not sure if the rent payment is counted in that, and if so, if you can just make 5 partial rent payments. Online people have reported it as "five non-rent payments" so I'm going to assume I need to make five payments outside rent per statement period which is no big deal. The way the T&C is written would seem to allow just making five partial rent payments but I'll let someone else be the guinea pig for that.
If you have not made at least five (5) transactions in any statement period, any Points earned from Rent or other Qualifying Purchases during that period will be removed from your Account. These transactions must have been posted to your account during the applicable statement period.
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Last edited by nexusCFX; Feb 24, 2022 at 11:34 pm
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Old Mar 23, 2022, 11:38 pm
  #26  
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Just in case anyone missed the news:

They recently added United and Cathay Pacific (Asia Miles) as transfer partners.

Also, an email was sent out about a party in NYC on March 28 and the intent to "announce some very exciting news about Bilt Rewards."
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Old Mar 24, 2022, 11:20 am
  #27  
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How do they add good transfer partners so easily? AFAIK nobody transfers to AA and only Chase transfers to UA.
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Old Mar 24, 2022, 11:23 am
  #28  
mia
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I do not see any reference to Bilt on the AAdvantage website. Have I overlooked it? I speculate that Bilt is implementing transfers through a third-party and doesn't have a direct contract with the airlines, but if anyone has made a transfer (to any airline) it would be interesting to know how the transaction is described by the frequent flyer program.
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Old Mar 26, 2022, 8:27 pm
  #29  
 
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Originally Posted by mia
I do not see any reference to Bilt on the AAdvantage website. Have I overlooked it? I speculate that Bilt is implementing transfers through a third-party and doesn't have a direct contract with the airlines, but if anyone has made a transfer (to any airline) it would be interesting to know how the transaction is described by the frequent flyer program.
I'll send some to Aeroplan and report back here with how long it took and how it posted.

By the way, they appear to have lowered the required ratio from 5000:5000 to 2000:2000 for blue members. A lot less troublesome for folks who won't put 25K of spend annually on the card to get silver status.

Update: It was "instant". It took maybe a couple minutes, but that might have just been Air Canada website cache issues. And on the topic of Air Canada's amazing IT, there is no activity entry for it yet so I'll update again with that.

Update 2: The activity feed suggests there is some understanding on the partner side that it's from Bilt.

"
BILT Rewards
BILT POINTS CONVERSION
"
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Last edited by nexusCFX; Mar 26, 2022 at 8:34 pm
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Old Mar 26, 2022, 11:00 pm
  #30  
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I just transferred 2K to Hyatt and it does indeed say "Bilt Rewards" in the activity list.
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