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Bilt Rewards: The Complete Guide
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In the world of credit card rewards, Chase Ultimate Rewards and American Express Membership Rewards are often hailed as the top-tier programs. However, Bilt Rewards, a relative newcomer to the rewards landscape since 2021, has recently generated considerable buzz . It’s easy to see why. Like its Chase and American Express counterparts, Bilt Rewards offers its cardholders the option to transfer points to a variety of transfer partners. What sets Bilt apart is its distinctive approach — cardholders earn rewards by simply paying their rent without incurring any fees, a feature unparalleled by any other card. So, is it worth considering joining Bilt Rewards and adding a Bilt World Elite Mastercard to your wallet? Let's delve deeper and review the overall program and the card.
What Are Bilt Rewards?
Anyone can join the for free, but having the Bilt World Elite Mastercard will boost your rewards in a major way (more on that in a bit). To start earning points, download the Bilt Rewards app and create an account. If you live in a Bilt Rewards Alliance building, you’ll earn a minimum of 250 points per rent payment and can earn additional points through incentives that your landlord may offer.
Additional ways you can earn points when you rent at a Bilt Rewards Alliance property include:
- Renewing leases
- Signing a new lease
- Referring a new tenant
Don’t live in a Bilt Rewards Alliance partner property? You still earn 1X Bilt Rewards on your rent (on up to $100,000 in rent payments every year) with the Bilt World Elite Mastercard. And the card isn’t just for rent payments!
It earns a solid:
- 5X on Lyft (you have to link your accounts in the Lyft app)
- 3X on dining
- 2X on travel
- 1X on other purchases
There is no cap to the number of Bilt points you can earn per month on non-rent purchases. The only requirement is you have to make at least five card transactions per statement period to earn points on rent.
On the first of every month, as part of their awesome promotion Rent Day, Bilt cardholders receive boosted earnings:
- 6X on dining
- 4X on travel
- 2X everywhere else
- 1X on rent (this doesn’t change with Rent Day)
You can redeem Bilt Rewards in a variety of ways, including:
- Rent
- Future home down payment - the redemption rate toward a down payment is valued at up to 1.5 cents per point
- Fitness: redeem points for classes with SoulCyle, Rumble, [solidcore] and Y7 Studio. Redemptions start at 2,400 points and the redemption rate is ~ 1 cent per point
- Home decor and curated art - the redemption rate
- Travel - points can be redeemed 1:1 to travel partners:
Airlines:
- Avianca Lifemiles
- United MileagePlus®
- Air France/KLM Flying Blue®
- Virgin Red®
- Emirates Skywards®
- British Airways Executive Club
- Cathay Pacific
- Hawaiian Airlines HawaiianMiles
- Turkish Airlines Miles&Smiles
- Aer Lingus AerClub
- Iberia Plus
- Air Canada Aeroplan®
- TAP Air Portugal
Hotels:
- Marriott Bonvoy™
- World of Hyatt®
- IHG® One Rewards
- Accor
You can also redeem Bilt points toward flights, hotels and activities at a fixed rate of 1.25 cents per point through the Bilt Travel Portal, similar to how the Chase Travel Portal works with redeeming Chase Sapphire and Chase Sapphire Reserve points at 1.25 cents and 1.5 cents, respectively.
Like with Chase and American Express, you’ll absolutely get the most bang for your buck when you transfer your points to travel partners, instead of opting for the fixed 1.25 cents option.
Some of our favorite Bilt redemptions include:
- Domestic economy flights on American Airlines for as little as 6,000 Bilt points: American Airlines regularly releases a fare category known as "Web Specials," which typically offers significantly reduced prices for various routes, often featuring fares as low as 6,000 miles. If you're flexible on dates, this is an awesome way to redeem without using many points
- Hotel stays starting at only 3,500 Bilt points: you can transfer Bilt points to Hyatt to redeem really affordable complimentary hotel nights. Note: Hyatt's redemption options range from as few as 3,500 points per night for basic roadside hotels during off-peak periods to as much as 45,000 points per night for luxurious five-star hotels during high-demand travel dates
- Travel to Hawaii in United Airlines economy for 7,500 Bilt points: Turkish Airlines is a partner of United Airlines. You can use Turkish Airlines miles to book domestic United Airlines flights (including to Hawaii) for7,500 miles one-way in economy and only 12,500 miles one-way in business class!
Bilt Elite Status
The more points you earn in a year, the higher your status is in the Bilt Rewards program. Elite benefits include earning interest on your points balances and bonuses for new leases and lease renewals. There are tour tiers:
- Blue: all you have to do is enroll in the free Bilt Rewards program - benefits include 1:1 point transfers with airlines and hotels, (minimum transfer of 2,000 points), access to the Bilt Collection, a members-only online store, ability to build credit history by reporting on-time rent payments to credit bureaus
- Silver: Earn 25,000 points in a year - benefits include everything that Blue offers, but only a 1,000 point minimum requirement to transfer to airline and hotel partners, along with a 10% bonus on lease incentive points from participating properties, and interest earned on points
- Gold: Earn 50,000 points in a year - benefits include everything Blue offers, along with a 25% bonus on lease incentive points from participating properties, interest earned on points, and access to Homeownership Concierge
- Platinum: Earn 100,000 points in a year - benefits include everything Blue offers, along with a 50% bonus on lease incentive points from participating properties, interest earned on points, access to Homeownership Concierge and a personalized gift from The Bilt Collection
If you hit a status threshold between January 1st and June 1st, your status expires on January 31st of the following year. When you earn a status tier between July 1st and December 31st, you’ll keep that status tier through the entire following year.
More Perks of the Bilt World Elite Mastercard
The Bilt World Elite Mastercard, which is issued by Wells Fargo, includes awesome perks, especially for a no-fee card:
- Primary car rental insurance: you just have to pay for the rental car with the card and you’re completely covered (NY residents receive secondary coverage)
- Cell phone protection: up to $800 in coverage, with a $25 deductible, if you pay your cell phone bill with the card
- Trip cancellation/interruption protection: up to $5,000 reimbursement for a covered reason when you pay for travel with the card
- Lyft credits: eligibility in the Take 3, Get $5 program by taking and partially or fully paying for 3 Eligible Rides in a calendar month to receive a $5 Lyft credit
Final Thoughts
Bilt Rewards is a free and unique program that can be highly rewarding, especially for renters. If you’re spending a good chunk of change on rent every month, you should be earning rewards in the process. The Bilt World Elite Mastercard will allow you to easily rack up tons of points on expenses you already have in the form of rent payments.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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