How to Pay Rent With a Credit Card & Earn Points to Travel in 2024
Finally, a credit card that allows you to earn points by paying rent! Yes, you can pay rent with a credit card with no fee and earn points to travel. In 2021, Bilt Rewards launched which has no annual fees and the points can be redeemed for travel, fitness, dining, shopping, hotel, and many more. For a few years now, I’ve always hoped for a way to earn points by paying rent since mortgage and rent takes up a big chunk of everyone’s monthly expenses.
The Bilt Mastercard stands out as the only credit card that lets you accumulate points simply by paying rent. I use it monthly for my rent payments, and you can rack up so many points annually with this routine expense alone.
How Is Bilt Credit Card Different?
Most credit cards either don’t allow you to pay rent directly or charge a significant fee (typically around 2-3%) if they do. The Bilt Card, however, enables renters to earn points on their rent payments each month without any transaction fees. This is a game changer for many people who see a large part of their budget go to rent without receiving any financial benefits in return.
Bilt establishes a special bank account linked to your Bilt credit card specifically for rent payments. This account functions essentially as a "dummy" account to facilitate rent payments via an e-check, bypassing typical credit card processing fees. It's used solely for this purpose, without the option to make deposits or withdrawals.
Each time rent is paid using these specific routing and account numbers, the corresponding amount is charged to your Bilt Mastercard®. Remember, you'll need to connect your personal bank account to settle your card balance monthly.
Furthermore, if your landlord prefers to receive payments by check, you can still use your Bilt card. Just make the payment through the Bilt Rewards app, and Bilt will issue and send a check on your behalf.
What the card offers:
1x points on rental payments and other purchases
2x points on travel
3x points on dining
5x points on Lyft rideshare
American and Alaska Airlines as a transfer partner (it’s the only card that does)
Rent Day benefits: monthly giveaways and challenges as well as 6x points on dining, 4x points on travel, and 2x on other spending on the 1st of the month
Cellular telephone protection up to $800
Access to the Bilt Milestone Rewards program (where you get more perks and earning power the more points you accumulate)
No foreign transaction fees
Redeeming Points: When it comes to redemption, Bilt Rewards offers flexibility, which enhances its value. You can redeem points for travel, fitness classes, art, or even as a part of a down payment on a home. Their travel portal also ensures that points hold a consistent value, and their transfer partnerships with leading airline and hotel loyalty programs provide fantastic value, particularly for those looking to book luxury travel.
No Annual Fee and Added Perks: The Bilt Card comes with no annual fee, which is relatively rare for a rewards card offering this level of earning potential. Additionally, the card includes rental insurance and other typical perks you’d expect from a competitive credit card.
Bonus Features: Bilt also organizes unique rent day events and offers double points on all purchases on the first of each month. These features not only make the card more engaging but also provide added incentive to use it more extensively.
Credit Building: Since rent payments through Bilt are reported to the credit bureaus, using this card can help build or improve your credit score, provided you manage it responsibly. This is an excellent bonus for younger renters or those looking to enhance their credit profiles.
Minimum Transaction Requirement: To earn points in a statement period, you need to make at least five transactions per month with the card. This stipulation encourages regular usage across various spending categories, ensuring cardholders engage with the card beyond just rent payments.
Conclusion: The Bilt Rewards Card is particularly beneficial for renters who want to get more out of their largest monthly expense. With its robust rewards program, it offers a compelling value proposition that’s hard to ignore. Whether you’re looking to travel more luxuriously or save up for your future home, the Bilt Card might just be the tool you need to help achieve your financial and lifestyle goals.
Remember, like any credit product, it’s important to consider how it fits into your personal financial situation before applying. But if your budget aligns, the Bilt Rewards Card is certainly worth considering.
More info on the card here.
Click here to sign-up and for more details about the rewards.
