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Bilt Rewards to Launch Mortgage Points Earning in 2025: What Homeowners Need to Know
December 12, 2024
In a major expansion of its rewards program, Bilt has announced plans to let homeowners earn points on their monthly mortgage payments starting in 2025. This groundbreaking move follows the success of their rent-payment rewards program and signals Bilt's evolution beyond just serving renters.
Current Bilt Mastercard Benefits
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The existing Bilt Mastercard, which carries no annual fee (see rates & fees), offers an impressive rewards structure:
- 1X Bilt points on rent payments (up to 100,000 points in a calendar year)
- 3X points on dining
- 2X points on travel
- 1X points on all other purchases
Use the card 5 times each statement period to earn points. Points can be transferred to various travel partners at a 1:1 ratio, making them particularly valuable for travel redemptions.
What We Know About the New Program
Bilt CEO Ankur Jain revealed this development in a recent letter to members, though specific details about earning rates and program requirements are still under wraps. This announcement comes shortly after Bilt launched a partnership with eXp Realty that rewards homebuyers with points on property purchases.
The Bigger Picture: Bilt's Expanding Ecosystem
Bilt is creating a comprehensive housing rewards ecosystem that includes:
- Points earning on mortgage payments (coming 2025)
- Points on home purchases through eXp Realty (1 point per $2 in property value)
- Down payment redemption options at 1.5 cents per point value
- Expanded "Neighborhood Benefits" for everyday spending
"Bilt Card 2.0" on the Horizon
The company also teased a "Bilt Card 2.0" coming in 2025, suggesting potential premium card offerings with enhanced benefits for housing-related spending. This could include tiered offerings to serve different member needs, though it's unclear whether mortgage rewards will require a specific card product.
Why This Matters
This development represents a significant shift in the credit card rewards landscape, as mortgage payments have traditionally been off-limits for points earning. It also positions Bilt as a pioneer in housing-related rewards, expanding their unique value proposition beyond their original renter-focused model.
What to Watch For
As we await more details about the program, key questions remain:
- Will there be spending requirements to earn points on mortgage payments?
- Will a premium card product be required?
- How will the program work with existing mortgages?
We’ll keep you posted as we learn more details about Bilt’s innovative addition to its rewards program in 2025.
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