Credit Card Review: Bilt Mastercard 

This premium card, that MasterCard, we’ve all seen the promotions for these cards but which cards are the right fit for you? The Bilt Mastercard is a credit card designed specifically for renters to help them build their credit while earning rewards on rent payments. 

However, don’t jump the gun and apply yet, potential applicants should always carefully review the card’s features, terms, and reward structure to determine if it aligns with your financial goals and lifestyle. Here’s a breakdown of what this card offers.

Best Of Bilt Mastercard’s Perks 

Earning Rewards on Rent Payments

With the Bilt Mastercard cardholders can earn points or cash back on every dollar spent on their rent payments. This feature helps renters build credit while earning valuable rewards.

Flexible Redeem Rewards 

You can easily redeem your collected points for various rewards, including statement credits, gift cards, travel, merchandise, or additional rent payments. They have quite a large pool of different rewards to choose from.

Annual Fees

Bilt MasterCard.

You don’t have to worry about shelling out money yearly because most versions of the card come with no extra annual fee. 

Opportunities for Credit Building

A high credit score can get you a lot more rewards and perks. You can easily build up your credit score by making on-time payments, including rent payments, and maintaining low balances.

Things To Know Before Getting A Bilt Mastercard

Limited Rewards Categories

While earning rewards on rent payments is a unique feature, users should keep in mind that you have limited rewards-earning potential on other spending categories compared to traditional rewards credit cards. Since your point collection depends mostly on rent payments, whether this card is the right fit for you depends on your spending habits.

Interest Rates and Fees

Review the interest rates, fees, and terms associated with the Bilt Mastercard. While many versions come with no annual fee, it’s essential to be mindful of other potential fees and the APR, especially if carrying a balance.

Credit Building Impact

Using the Bilt Mastercard responsibly is crucial to avoid negative impacts on credit scores and to maximize your perks and rewards. Missing payments or carrying high balances can have adverse effects on your credit health.

Make The Most Out Of Your Bilt Mastercard

Your Bilt Mastercard relies heavily on a good credit score and timely pay offs. Here are some things to remember to enjoy your card’s perks.

  • Make sure to use the card for all your monthly rent payments to earn points or cash back on these expenses since the rewards points majorly depend on these payments.
  • Pay off their credit card balance in full each month to avoid interest charges.
  • You can explore additional benefits such as rental car insurance, purchase protection, and extended warranty coverage.
  • Keep an eye out for opportunities to earn more points through partner brands and activities. More points, more rewards.
  • It’s important to monitor your credit card statements regularly to track your spending and ensure you’re earning the expected rewards on your rent payments.