Oct 7, 2023, 1:25 pm
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 Ive 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 Im 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. Im 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.
Linksto 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.
In March/April 2025 Bilt initiated a new and different process for paying rent and HOA fees which requires preauthorization and/or "auto-pre-authorization" within 5 days of payment.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.
Theres 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 was discontinued as of July 2024.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. Theres 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 Rent Free may also have been discontinued in 2024 or 2025.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 Bilts Rent Day promotions going back to October 2022 at the bottom of the page here: DEALSPOINTS.
June 2024: Bottom of this post describes one persons 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.
(10/7/23 Original author (Dr Jabadski) note: As I posted here on 9/9/23 Considering Ive 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 Im 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. Im 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
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.
In March/April 2025 Bilt initiated a new and different process for paying rent and HOA fees which requires preauthorization and/or "auto-pre-authorization" within 5 days of payment.
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.
Theres 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 was discontinued as of July 2024.
Bilt Rent Free may also have been discontinued in 2024 or 2025.
List of Bilts Rent Day promotions going back to October 2022 at the bottom of the page here: DEALSPOINTS.
June 2024: Bottom of this post describes one persons 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.
Bilt Mastercard
Nov 28, 2023 | 9:27 am
#466
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold 1.2MM (BIS), AA LT Plat (SUBs, BD/Bask), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 4,589
Not sure if that’s directed at my immediately preceding comments but if so, it’s an incorrect inference. I neither stated nor implied extrapolation or comparison of FTers to others, I merely wrote that (I think) “Bilt cardholders are probably less likely to carry a balance” (and described my experience with the quasi-SUB).
Disagree.
There are also several more reports of the same thing on Reddit.
Agreed. And the majority of Bilt’s customer base is unlike other traditional credit cards and/or typical participants of forums like FT or Reddit.
“r/churning” ?
mia is correct, at the time of that post I was referring to those 2 posts. In preparing this reply, I saw a few Reddit reports of no 5x/5 day offer. I also saw the quote below from this thread and a couple of Reddit comments stating the 5x/5 day seems to be random.
BTW, in reviewing this thread in preparation of this reply, I saw multiple references in April 2022 of a 10x/5 day quasi-SUB and first report of 5x/5 day in August 2022 vice the very recent bupkis. Further evidence of Bilt successive cost cutting in the early stages of its existence.
Possible unsustainability has been discussed on this thread for a long time:
“r/churning” ?
(April 2023) Take it with a grain of salt, but a Reddit user is claiming that the 5 days/5 x period is over: https://www.reddit.com/r/biltrewards...tion_does_not/ ...
Possible unsustainability has been discussed on this thread for a long time:
(April 2022) … LOL, that kind of stuff for a no annual fee card that makes money on transaction fees and landlord signups? … Nobody is going to make money with 5x travel/gas/groceries with all points having a cash value of 1.5 cpp. A SUB with cash value of $1500 on a no AF card is insane. Even AMEX doesn’t give away the store like that on cards you have to pay a collective $1k for in annual fee. All it’s going to “win” is a trip to bankruptcy court for whatever bank that’s stupid enough to do that.
Nov 28, 2023 | 9:31 am
#467
FlyerTalk Evangelist
Join Date: May 2015
Location: BOS, YVR, ZRH
Programs: *G
Posts: 18,127
Add me to those who think Bilt is not sustainable (and thus I maintain a small Bilt points balance). The basic reason is their expenses may very well be greater than their revenues.
People undoubtedly prioritize paying rent so Bilt is probably making less in finance charges on balances due to rent payments. Bilt is a more sophisticated card than most other cards, Bilt cardholders are probably less likely to carry a balance (and thus pay finance charges).
Im a good example. Met the quasi-SUB (pseudo-SUB) with tax payments, paid the balance in full, Bilt gave me over 62,500 points on my first statement which I immediately transferred (speculatively) to Hyatt, a value of $600-$1000. I dont know how much of a swipe fee Bilt got, on $12,500 charges even 2% is only $250. Every month I get almost 2,000 Bilt points for an ACH rent (condo) fee payment and 5-6 small charges totaling $50-$100, not much in swipe fees.
We may be seeing the start of Bilt cost cutting as recent reports indicate the quasi-SUB is no longer being offered.
(BTW, my recent prediction track record is pretty good
. I accurately predicted Aaron Rodgers would suffer a season ending injury within his first 2 Jets games.)
People undoubtedly prioritize paying rent so Bilt is probably making less in finance charges on balances due to rent payments. Bilt is a more sophisticated card than most other cards, Bilt cardholders are probably less likely to carry a balance (and thus pay finance charges).
Im a good example. Met the quasi-SUB (pseudo-SUB) with tax payments, paid the balance in full, Bilt gave me over 62,500 points on my first statement which I immediately transferred (speculatively) to Hyatt, a value of $600-$1000. I dont know how much of a swipe fee Bilt got, on $12,500 charges even 2% is only $250. Every month I get almost 2,000 Bilt points for an ACH rent (condo) fee payment and 5-6 small charges totaling $50-$100, not much in swipe fees.
We may be seeing the start of Bilt cost cutting as recent reports indicate the quasi-SUB is no longer being offered.
(BTW, my recent prediction track record is pretty good
. I accurately predicted Aaron Rodgers would suffer a season ending injury within his first 2 Jets games.)
Nov 28, 2023 | 9:58 am
#468
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,864
The credit card is a gateway for consumers to participate in the Bilt Alliance. The card doesn't need to be directly profitable if it facilitates profitability of the entire enterprise. Alliance members buy points from Bilt to use as incentives for early lease renewals, etc. Processing rent payments for properties which do not belong to the Alliance builds a database of sales leads, with an easy entry pitch, "Your tenants are already using our service to pay you." Processing HOA fees as if they were rent allows Bilt to assess the opportunity to move beyond rental managers to condominium and similar property managers. I expect Bilt will periodically revise card benefits, but not necessarily because the rewards are too generous.
Nov 28, 2023 | 10:02 am
#469
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold 1.2MM (BIS), AA LT Plat (SUBs, BD/Bask), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 4,589
I’m inferring that you’re basically stating that Bilt CC is a loss leader which is an excellent point. As a new loss leader we can reasonably expect benefits to be reduced in furtherance of profits.
Agreed, although it is conceivable that a tiny fraction of customers could sink a business. Although a Reddit comment stated the quasi-SUB was random, it’s doubtful it’s random for Bilt. Just like any credit card issuer reducing benefits, the only plausible reason for Bilt to reduce (from 10x to 5x) and/or not offer the quasi-SUB is to decrease costs.
That’s only one, of several reasons, I think Bilt’s current business model is not sustainable.
None of us can predict the future, maybe this debate will be settled in a year or 2.
Based on the “any port in a storm theory”, the bottom line for many Bilt users is that Bilt could reduce or eliminate ALL other benefits and we’d still use it to pay rent.
None of us can predict the future, maybe this debate will be settled in a year or 2.
Based on the “any port in a storm theory”, the bottom line for many Bilt users is that Bilt could reduce or eliminate ALL other benefits and we’d still use it to pay rent.
Last edited by Dr Jabadski; Nov 28, 2023 at 10:16 am Reason: usual verbosity
Nov 28, 2023 | 10:20 am
#470
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,864
It's good practice for a business to circulate different Offers for the same product. My wife and I recently received different offers for the same American Express card on the same day, and then I received helpful PMs from Flyertalk members mentioning better offers. This is not the first time I have seen this. Bilt needs some cardholders with no intro offer to establish a baseline to measure the effect of offering 5X.
Nov 28, 2023 | 10:56 am
#471
Join Date: Oct 2023
Location: NYC <> SFBA
Programs: AA PlatPro, FB Gold, Hyatt Globalist
Posts: 466
Someone from Bilt on Reddit responded to say no devaluations planned:
https://en.reddit.com/r/biltrewards/...oming/kb0b5zw/
https://en.reddit.com/r/biltrewards/...oming/kb0b5zw/
Nov 28, 2023 | 12:11 pm
#472
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold 1.2MM (BIS), AA LT Plat (SUBs, BD/Bask), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 4,589
Someone from Bilt on Reddit responded to say no devaluations planned: https://en.reddit.com/r/biltrewards/...oming/kb0b5zw/
. Suffice it to write that we shouldn’t believe anything a USA business states, much less a financial business, much less a credit card issuer, much less a frequent flyer/loyalty program, much less a new loyalty program with an arguably unsustainable business model.
Nov 28, 2023 | 4:17 pm
#473
Join Date: Jun 2014
Posts: 292
Unknown transactions
Had the card when they had that issue with suspicious transactions with fraudsters checking cards with small transactions.
I would have hope they resolved the issue after that, but just came across another weird transaction for .03 from some parking app in Italy, so it seems like there might be another issue.
Check for any weird transactions.
I would have hope they resolved the issue after that, but just came across another weird transaction for .03 from some parking app in Italy, so it seems like there might be another issue.
Check for any weird transactions.
Nov 28, 2023 | 5:58 pm
#474
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS Plat, AA EP, Bonvoy Plat, Hilton Dia, Hyatt Glob, IHG Plat, ...
Posts: 21,476
I would be surprised if there was a huge effect. Those who get the offer will put some extra spend on the card during the five days that dont make Bilt any money (presumably) and then may continue to use it or put it in a drawer. Those who dont get an offer may use it or put it in a drawer. Basically, other than potential spite reactions, I dont see what they could measure here.
Nov 30, 2023 | 8:38 am
#475
Join Date: Nov 2023
Posts: 1
Just adding a data point, I received the 5x/5 day offer with my card today. Pleasant surprise given recent data points saying the offer wasnt received.
Nov 30, 2023 | 10:39 am
#476
Join Date: Feb 2016
Location: New York
Programs: Navy A-4 Skyhawk, B727 FE/FO, S80 FO, B757/767 FO, B737 CA
Posts: 1,416
Nov 30, 2023 | 12:13 pm
#477
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS Plat, AA EP, Bonvoy Plat, Hilton Dia, Hyatt Glob, IHG Plat, ...
Posts: 21,476
https://frequentmiler.com/up-to-some...elcome-offers/
Nov 30, 2023 | 12:35 pm
#478
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,680
If they did something like Amex where they offer you at least XYZ or up to XYZ and show you the offer before you submit your final application, that would, I suppose, be an acceptable way to not give everyone a pseudo-SUB. But I have zero interest in signing up for the card without knowing the entire deal.
https://frequentmiler.com/up-to-some...elcome-offers/
https://frequentmiler.com/up-to-some...elcome-offers/
No annual fee and no forex fee, plus bonus categories - it has its place in my wallet long-term.
Nov 30, 2023 | 12:44 pm
#479
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS Plat, AA EP, Bonvoy Plat, Hilton Dia, Hyatt Glob, IHG Plat, ...
Posts: 21,476
I truly think this card is worth having even without a sign-up bonus. I did not expect one back when I applied but was very pleasantly surprised to read about it and I took advantage of it.
No annual fee and no forex fee, plus bonus categories - it has its place in my wallet long-term.
No annual fee and no forex fee, plus bonus categories - it has its place in my wallet long-term.
Nov 30, 2023 | 12:53 pm
#480
FlyerTalk Evangelist
Join Date: May 2015
Location: BOS, YVR, ZRH
Programs: *G
Posts: 18,127
I truly think this card is worth having even without a sign-up bonus. I did not expect one back when I applied but was very pleasantly surprised to read about it and I took advantage of it.
No annual fee and no forex fee, plus bonus categories - it has its place in my wallet long-term.
No annual fee and no forex fee, plus bonus categories - it has its place in my wallet long-term.