How the Bilt Mastercard Works and Who It's Built For

The Bilt Mastercard is a rewards card that lets you earn points on rent payments

The Bilt Mastercard is a rewards credit card designed specifically to let you earn points when you pay rent — something most other cards don't do. You use it like any other Mastercard, but the card gives you points back on rent transactions, which you can then redeem for cash, statement credits, or travel rewards. It also offers points on other everyday purchases like groceries and dining.

The card has no annual fee, which means you don't pay to own it. The main catch is that rent payments typically come with a processing fee (usually around 2.85% of the amount you're paying), though you still earn points on the full rent amount, not just what you pay after the fee.

Key Takeaways

• Bilt earns 3 points per dollar on rent payments, 1 point per dollar on most other purchases, and bonus points on dining and travel.
• Rent payments trigger a processing fee of roughly 2.85%, which you pay on top of your rent — the card company doesn't cover it.
• You can redeem points for statement credits, cash back, travel bookings, or transfers to airline and hotel partners.
• The card reports your on-time rent payments to credit bureaus, which can help build your credit history if you pay on time.
• You need a credit score in the "good" range (typically 670 or higher) to be approved, though exact requirements vary.

How you earn and use points with Bilt

Every dollar you spend on rent earns 3 points. Dining and travel purchases earn 2 points per dollar. Everything else — groceries, gas, online shopping — earns 1 point per dollar. There's no cap on how many points you can earn, so if you pay a $1,500 rent payment, you get 4,500 points.

Points don't expire as long as your account stays open and in good standing. You redeem them through the Bilt app or website. A typical redemption rate is 1 point equals about 1 cent in value, though this varies depending on what you're redeeming for. You can cash out points as a statement credit (reducing your bill), get cash back to a bank account, book travel directly, or transfer points to partners like United Airlines or Hilton Hotels.

The rent payment process and the processing fee

To pay rent with Bilt, you log into the app or website and enter your landlord's information — their name, address, and bank details. Bilt then processes the payment and sends it to your landlord, usually within 1 to 3 business days. You earn the 3 points per dollar on the full rent amount.

Here's the important part: Bilt charges a processing fee of approximately 2.85% of the rent amount. If your rent is $1,500, the fee is roughly $42.75. You pay this fee in addition to your rent — it doesn't come out of the points you earn. Some landlords may accept the fee themselves, but that's between you and them. The fee is what Bilt charges for handling the transaction and sending the money to your landlord's bank account.

How Bilt reports to credit bureaus and affects your credit

Bilt reports your rent payments to Experian, one of the three major credit bureaus. This means on-time rent payments show up on your credit report, which can help build your credit history if you don't have much credit yet or if you're working to improve a lower score. Late or missed payments also get reported, so paying on time matters.

The card itself works like any other credit card for credit-building purposes. Using it and paying your bill on time helps demonstrate that you manage credit responsibly, which can raise your credit score over time. Carrying a high balance or missing payments will hurt your score, just as it would with any card.

Who qualifies and what the approval process looks like

Bilt typically requires a credit score in the "good" range to be approved, which most issuers define as 670 or higher, though the exact minimum can vary. You'll need to be at least 18 years old, a U.S. resident, and have a valid Social Security number. The application itself takes a few minutes and asks for basic information like your name, address, income, and employment.

When you apply, Bilt will do a hard inquiry on your credit, which means they pull your full credit report and score. This inquiry shows up on your credit report and can temporarily lower your score by a few points. If you're approved, you typically receive your card within 7 to 10 business days. If you're denied, you can reapply after addressing whatever issue caused the denial — for example, paying down existing debt or waiting a few months to build more credit history.

Comparing Bilt to other rewards cards

Most standard rewards cards earn 1 to 2 points per dollar on purchases, but they don't earn anything on rent because rent is typically paid by check or bank transfer, not by credit card. Bilt's main advantage is that it lets you earn 3 points on rent, which is usually your largest monthly expense. If you pay $1,500 in rent, that's 4,500 points per month just from rent alone.

The trade-off is the processing fee. If you're paying $1,500 rent and the fee is $42.75, you're spending extra money to earn points. Whether that's worth it depends on how much you value the points and what you redeem them for. Some people find the points valuable enough to offset the fee; others prefer to pay rent by bank transfer and use a different rewards card for other purchases. There's no single right answer — it depends on your situation and how much you spend on rent versus other categories.

What happens if you miss a payment or close the account

If you miss a payment on your Bilt card, the same rules apply as with any credit card: you'll be charged a late fee (typically $25 to $40), your interest rate may increase, and the missed payment gets reported to credit bureaus. This can lower your credit score. Bilt also reports missed rent payments to Experian, so falling behind on rent through this card has the same credit impact as falling behind on rent paid any other way.

If you close your Bilt account, any points you've earned stay in your account for a limited time, though the exact window varies. You can still redeem them after closing, but you won't earn new points. Closing a credit card can also affect your credit score because it reduces your total available credit and may shorten your average account age, so it's worth thinking through before you do it.

Frequently Asked Questions

Do I have to pay the processing fee every time I use the card for rent?

Yes. Every rent payment through Bilt comes with a processing fee of roughly 2.85%. You can't avoid it by paying a different way through the card — if you want to use Bilt for rent, you pay the fee. You can choose to pay rent by bank transfer or check instead and avoid the fee, but then you won't earn the 3 points per dollar.

Can I use Bilt if my credit score is below 670?

Most people with scores below 670 won't be approved, but requirements can vary. If you're denied, you could try reapplying after a few months of building credit — paying down debt, making on-time payments on existing accounts, or correcting errors on your credit report. Some people are approved with slightly lower scores depending on other factors, so it's worth applying if you're close.

What if my landlord won't accept a credit card payment?

Bilt handles the payment by sending money directly to your landlord's bank account, so your landlord doesn't have to "accept" a credit card in the traditional sense. However, your landlord does need to provide their banking information so Bilt can send the payment. If your landlord refuses to share that information or won't work with Bilt, you can't use the card for rent and should pay by another method.

How long does it take for rent payments to reach my landlord?

Bilt typically processes rent payments within 1 to 3 business days. This means the money leaves your credit line immediately, but your landlord may not see it in their bank account for a few days. It's worth telling your landlord you're paying through Bilt so they know to expect the payment and don't think it's late if there's a short delay.

Can I earn points on a roommate's share of rent if I pay the full amount?

Yes. If you pay the full rent amount with Bilt, you earn 3 points per dollar on the entire amount, even if a roommate reimburses you later. The points are based on what you charge to the card, not on who ultimately pays for it.