Bilt Mastercard Review (Opinion: Don’t Get It)

The Bilt Credit Card is a renters dream card but there’s not much more to it but that.

Let’s cut to the chase: you’re here because you want to know if the Bilt Credit Card is worth your time and hard-earned money. And why not?

With all the hype, you’d think this card could walk on water (spoiler alert: it can’t). But let’s see what this card really has to offer, shall we?

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The Basics: What’s the Bilt Credit Card?

First things first, let’s cover the essentials:

• Annual Fee: $0 (Yes, zero. But don’t get too excited yet.)
• Rewards Program: Earn points on rent without transaction fees (because paying rent wasn’t painful enough already).
• Points Earn Rate:
  • 1x points on rent payments (up to 50,000 points per year)
  • 2x points on travel
  • 3x points on dining
  • 1x points on everything else (because they couldn’t just give you more)

Why You Might Actually Like This Card

1. Pay Rent Without Fees

Seriously, this is the card’s headline feature. You can earn points by paying your rent (which you’re going to pay anyway, so why not get something back?).

2. Travel and Dining Rewards

• If you travel a lot (like, more than just to your in-laws’ place once a year), 2x points can add up.
• Dining at restaurants earns you 3x points (because who doesn’t like getting rewarded for eating out when you’re too lazy to cook?).

3. Point Flexibility

• Transfer your points to travel partners (for those who are fancy enough to know what “travel partners” means).
• Use points for fitness classes, rent credits, and more (in case you ever wanted to trade your points for more ways to spend money).

The Catch (There’s Always a Catch)

1. Redemption Complications

Using points can be a bit like solving a Rubik’s cube while blindfolded. The process isn’t straightforward (who would’ve thought?).

2. Caps and Limits

Rent payments are capped at 50,000 points per year. So, high rollers paying astronomical rents (you know who you are) might feel a bit shortchanged.

3. Approval Odds

Getting approved can be trickier than convincing your cat to take a bath. Good credit is a must but that’s typical for almost every credit card today.

If you want the best chances aim for a 690+ and a low debt to income (DTI).

Should You Get It?

Look, if you’re paying rent and love the idea of getting rewarded for it, the Bilt Credit Card could be your new best friend.

But, if you’re someone who hates jumping through hoops to redeem points or if you don’t dine out and travel often, you might want to swipe left on this one. Personally I’m all about cash back credit cards with my favorite being Wells Fargo Active Cash (at 2% cash-back and Chase Freedom Unlimited (at 1.5% cash-back).

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My Final Thoughts

The Bilt Credit Card has its perks, especially for renters and frequent travelers. But like anything that sounds too good to be true, it comes with its fair share of “buts” and “ifs.” Weigh the pros and cons based on your lifestyle, and make sure you’re not just signing up because it sounds cool (because, trust me, “cool” doesn’t pay the bills).

So, will the Bilt Credit Card make your financial life easier? That’s for you to decide. Just remember, no credit card is perfect, and this one is no exception.