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
Jul 28, 2024 | 7:15 pm
#916
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
!
Jul 29, 2024 | 2:06 pm
#917
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, WF, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 2,371
Two more notes about Bilt:
1 - The "Friday news dump" way in which they notified us of this change really cost them a lot of goodwill among the bloggers. They worked hard to build up that goodwill, and really dashed a lot of it in no time. They could have been up front, said we're giving two more months so really jam on it! and generally lessened the blow. A lot of us would have said "oh - that sucks - but at least they're giving us two months notice! not bad." But instead we're all mad.
2 - For those who say this is costing Bilt too much, sure, it probably is (as it's the best feature of the card in my mind) but don't forget that Ankur had bragged that Bilt was already profitable. Sure - a profitable company still has the right to change a program, but if they were able to be profitable with the limit of 10,000 points per Rent Day, then cutting it isn't like plenty of companies that offer loss-leaders to get customers and then cut back to get profitable. These guys are already profitable. Supposedly.
1 - The "Friday news dump" way in which they notified us of this change really cost them a lot of goodwill among the bloggers. They worked hard to build up that goodwill, and really dashed a lot of it in no time. They could have been up front, said we're giving two more months so really jam on it! and generally lessened the blow. A lot of us would have said "oh - that sucks - but at least they're giving us two months notice! not bad." But instead we're all mad.
2 - For those who say this is costing Bilt too much, sure, it probably is (as it's the best feature of the card in my mind) but don't forget that Ankur had bragged that Bilt was already profitable. Sure - a profitable company still has the right to change a program, but if they were able to be profitable with the limit of 10,000 points per Rent Day, then cutting it isn't like plenty of companies that offer loss-leaders to get customers and then cut back to get profitable. These guys are already profitable. Supposedly.
Jul 29, 2024 | 2:07 pm
#918
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, WF, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 2,371
I got Choice card from WF few days ago with $30k limit too. It's another WF cobranded card.
Jul 30, 2024 | 10:33 am
#919
Join Date: Jan 2020
Programs: SQ Gold, Marriott Lifetime Platinum, Caesars Diamond, Hilton Diamond, Atmos Silver, IHG Platinum
Posts: 2,228
I signed up for the Rent Day Soulcycle class. Gotta use all the benefits ... just in case ...
Jul 30, 2024 | 10:54 am
#920
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
.
Jul 30, 2024 | 11:33 am
#921
Join Date: Jun 2003
Location: san francisco.
Programs: Marriott Plt, OW Blue!
Posts: 2,090
Jul 30, 2024 | 11:55 am
#922
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
Of course the CEO is going to claim “all is terrific” right up until the moment they file for bankruptcy protection. Just like many others, he’s laughing all the way to the bank where he put a good part of the venture capital money claiming it as his salary.
(* “sniff test”: Etymology, noun, (idiomatic) an informal check of an idea or proposal, using one's common sense or sense of propriety. Synonym: reality check)
Jul 30, 2024 | 12:09 pm
#923
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,680
More and more signs are pointing me in the direction of: transfer points out fast!
Jul 30, 2024 | 12:23 pm
#924
Join Date: Dec 2009
Programs: AA EXP, Starwoods Gold, Delta Silver
Posts: 15
I cant write for anyone else, but by all OBJECTIVE analyses, and the FT sniff test* for the past 2-3 years, and recent cost cutting maneuvers, Bilt is highly UNprofitable and many here think it is unsustainable (in its current iteration) and headed for bankruptcy.
Of course the CEO is going to claim all is terrific right up until the moment they file for bankruptcy protection. Just like many others, hes laughing all the way to the bank where he put a good part of the venture capital money claiming it as his salary.
(* sniff test: Etymology, noun, (idiomatic) an informal check of an idea or proposal, using one's common sense or sense of propriety. Synonym: reality check)
Of course the CEO is going to claim all is terrific right up until the moment they file for bankruptcy protection. Just like many others, hes laughing all the way to the bank where he put a good part of the venture capital money claiming it as his salary.
(* sniff test: Etymology, noun, (idiomatic) an informal check of an idea or proposal, using one's common sense or sense of propriety. Synonym: reality check)
I agree that the biz doesn't pass the sniff test and is likely unsustainable in current form, but there's no hard evidence that Jain lied when he said Bilt is "profitable." Of course, "profitable" is a bit vague. There's a report out that says Bilt achieved positive EBITDA in April 2022.
To me, it sounds like Bilt is profitable but only because Wells is taking a loss on the business by paying Bilt a large credit card customer acquisition fee and 0.8% of rent payments (per WSJ article). When Wells recuts that deal, Bilt probably won't be profitable anymore.
Jul 30, 2024 | 7:06 pm
#925
Join Date: Jun 1999
Location: NYC/LA
Programs: DL DM, UA Silver, Marriott Titanium/LTP, Hilton Diamond
Posts: 9,803
I agree that the biz doesn't pass the sniff test and is likely unsustainable in current form, but there's no hard evidence that Jain lied when he said Bilt is "profitable." Of course, "profitable" is a bit vague. There's a report out that says Bilt achieved positive EBITDA in April 2022.
To me, it sounds like Bilt is profitable but only because Wells is taking a loss on the business by paying Bilt a large credit card customer acquisition fee and 0.8% of rent payments (per WSJ article). When Wells recuts that deal, Bilt probably won't be profitable anymore.
To me, it sounds like Bilt is profitable but only because Wells is taking a loss on the business by paying Bilt a large credit card customer acquisition fee and 0.8% of rent payments (per WSJ article). When Wells recuts that deal, Bilt probably won't be profitable anymore.
Jul 30, 2024 | 9:01 pm
#926
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
Yup, reminiscent of the world’s oldest business accounting joke. FT rules preclude the usual ethnic assignments.
Company CEO is interviewing candidates for the vacant CFO position. Says to the first candidate “I’ve read your rsum, you’re obviously very well qualified, I like to keep these interviews short and simple, tell me, how much is 2+2.” First candidate says “that’s easy, four.”
CEO says the same thing to the second candidate who pulls out a computer and spends five minutes banging away at the computer keys, looks up and says “four”.
Third candidate, CEO says the same thing. Candidate jumps up out of chair, slams the office door closed, runs to the windows and pulls down all the window shades, rips every computer cable and telephone line out of the wall, looks around to make sure no one else is listening, walks up to the CEO and whispers in CEO’s ear “whatever you want it to be”.
Company CEO is interviewing candidates for the vacant CFO position. Says to the first candidate “I’ve read your rsum, you’re obviously very well qualified, I like to keep these interviews short and simple, tell me, how much is 2+2.” First candidate says “that’s easy, four.”
CEO says the same thing to the second candidate who pulls out a computer and spends five minutes banging away at the computer keys, looks up and says “four”.
Third candidate, CEO says the same thing. Candidate jumps up out of chair, slams the office door closed, runs to the windows and pulls down all the window shades, rips every computer cable and telephone line out of the wall, looks around to make sure no one else is listening, walks up to the CEO and whispers in CEO’s ear “whatever you want it to be”.
Jul 31, 2024 | 9:36 am
#927
Join Date: Oct 2023
Location: NYC <> SFBA
Programs: AA PlatPro, FB Gold, Hyatt Globalist
Posts: 466
One of the biggest ones (and very publicly) for small companies to be EDBITA adjusted profitable - the Trump tax cuts also changed it so that R&D especially for engineers need to be amortized over five years, which means that one of the largest expenses for any tech company won't show up for quite a few years. For a rapidly growing startup, revenue of $10M and employee costs of $40M would be a real loss of -$30M per year, but on paper there's been a profit of $2M.
Aug 1, 2024 | 8:28 am
#928
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,680
Looks like Ankur & Co. took the criticism to heart.
The first round of emails had this wording:
In the latest round of emails it was updated to:
Finally! I'm in the top 2% Mom!
The first round of emails had this wording:
A note for members with the Bilt Mastercard, starting on October 1, 2024, the Double Points on Bilt Mastercard offer maximum will be updated to 1,000 points per Rent Day.
A note for members with the Bilt Mastercard, starting on October 1, 2024, the Double Points on Rent Day offer will have a cap of 1,000 bonus Bilt Points per Rent Day. Based on the last two years, this change will impact less than 2% of members. Making this update allows Bilt to continue funding Rent Day bonus points but also allows us to invest in new and exciting Rent Day benefits like transfer bonuses and experiences that are applicable to the most members. Stay tuned for more exciting member benefits and rewards.
Aug 1, 2024 | 1:01 pm
#929
Join Date: Oct 2021
Location: Bay Area
Posts: 552
TPG posted a Q&A with Richard Kerr from Bilt. In it they mention that in addition to capping rent day bonus points at 1k (down from 10k), they are also removing tax payments from eligibility for bonus points. I actually scoured the email and the terms and conditions they currently have posted for rent day and for the card in general and don't see any mention of this. I'm surprised - I get that people (including me!) were using this to make large tax payments but it seems unnecessary to do this since they're capping the bonus points at 1k anyways.
Aug 1, 2024 | 1:11 pm
#930
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,680
TPG posted a Q&A with Richard Kerr from Bilt. In it they mention that in addition to capping rent day bonus points at 1k (down from 10k), they are also removing tax payments from eligibility for bonus points. I actually scoured the email and the terms and conditions they currently have posted for rent day and for the card in general and don't see any mention of this. I'm surprised - I get that people (including me!) were using this to make large tax payments but it seems unnecessary to do this since they're capping the bonus points at 1k anyways.
https://thepointsguy.com/news/interv...lt-rewards-vp/
Drip drip drip