Rent and utility payment for reward points (Bilt World Elite Mastercard?)

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Hayabusa
Posts: 10
Joined: Sat Nov 06, 2021 8:47 pm
Location: New York, New York

Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by Hayabusa »

Hi everybody,

I have a Capital One Venture credit card (2x reward miles) and Discover Cash Card (5% back on purchases).

Using my bank account, I currently pay $2,500 for rent monthly and $100+ for utilities (electricity, gas, etc.). Per ChatGPT4, most platforms charge a processing fee (several percentage points of the total expense), but the Bilt World Elite Mastercard permits for payment of monthly rent through the platform issuing a routing number and account number and then reward points are delivered. I went to their website (https://www.biltrewards.com/rewards/bilt-for-you) and it looks legitimate.

I did some online checking and it seems like Bilt is a loyalty program that is operated through Wells Fargo (https://www.reddit.com/r/biltrewards/co ... _from_bilt)?

Has anybody
1) had success in paying rent monthly through their credit card without incurring a processing fee;
2) tried paying their rent through Bilt World Elite Mastercard and if so, how was your experience.

Thank you.
SheReadsHere719
Posts: 222
Joined: Fri Jan 06, 2017 6:28 pm

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by SheReadsHere719 »

I’ve had the Bilt card for ~9 months now and it’s been good. Looks like you already found the sub-Reddit – there are a few threads that mention crummy customer service, although I’ve not had to deal with them (yet). But it’s worth it to me to earn points on the largest purchase I make each month.

You’ll need to make 5 purchases/month to accrue points, so I put some small recurring charges on the card. It’s already paid for a few nights in a hotel on an upcoming vacation!
Vanguard User
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Joined: Wed May 26, 2021 5:46 pm
Location: Sugar Land, Texas

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by Vanguard User »

I use BILT to pay rent.
Applerunner
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Joined: Thu Jun 08, 2023 6:56 am

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by Applerunner »

I plan on getting it. A friend of mine who is big into the credit card world uses this card in conjunction with Chase Sapphire and Chase Freedom to transfer points for Hyatt and also for flights.
cowbman
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Joined: Sat Jan 14, 2017 1:10 pm

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by cowbman »

Can you use the Bilt Rewards MC to pay a large rent payment to a bank?
patrick
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Joined: Fri Sep 04, 2009 3:39 am
Location: Mega-City One

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by patrick »

I have paid rentd it successfully using Bilt with no fee. This did mean using their routing number for an ACH payment, which is not quite a credit card transaction and does not use the credit card number.

Their rules seem to only allow utility payments by ACH when they are part of the rent, not when paying the utility company separately. You may or may not be able to get away with breaking this rule.
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neurosphere
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Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by neurosphere »

I'm a renter in NYC paying ~$3500/month to a mom/pop landlord. Someone mentioned Bilt to me the other day and I found this thread as I was researching, looking for gotchas and "fine print".

I pay my landlord via mailed check, they don't want to be paid via zelle, venmo, etc.

Something about this seems too good to be true, that I can earn 42,000 points a year for paying rent, with no fees or other hidden costs?

In general I use the Fidelity 2% cash back card for most purchases. I also have the Chase Sapphire Reserve Card (for primary rental car protection as we rent often) and a Delta Reserve Amex (mostly for lounge access and help with achieving "status" although we are likely losing money with this card, falling prey to shiny objects, etc).

The first gotcha I found was that this card requires 5 purchases in a billing cycle in order to actually earn points on rent? Do I understand that correctly?

Anyway, I'm going to do some more research but figured I'd post some questions on this thread in advance.

Edited to add: One gotcha is that if I add this card to my existing cards, the only extra benefit is $42,000 points on rent. I can transfer those points to hilton and get at most 2 nights at a hotel. If transferring to an airline I might get one flight worth $300 (just an example). So another way of thinking about this card...I might make $250 - $500 per year vs just paying my rent with a check as we're currently doing. While that's "nice" adding this card is certainly a complication as I'd have to be sure to make 5 purchases a month on the card in order to get this benefit. Yes, it's not THAT hard to use this card for 5 small purchases at the beginning of each month, but...hmm...
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes" (even in taxable accounts).
SheReadsHere719
Posts: 222
Joined: Fri Jan 06, 2017 6:28 pm

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by SheReadsHere719 »

Correct, you need to post 5 transactions per month. I have small recurring charges on there to meet the threshold. They also have Rent Day bonuses, monthly trivia, and other opportunities to earn a few extra points.

The Points Guy has Bilt points valued at 2.05 each (source), so using your current rent, it’d be worth ~$800/year. I found the Hyatt transfer + redemption rate to be the best so far.
criticalmass
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Joined: Wed Feb 12, 2014 9:58 pm

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by criticalmass »

Wall Street Journal reported yesterday that Wells Fargo Bank is losing $10 million a month on the Bilt card.
bombcar
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Joined: Sun Aug 12, 2007 6:41 pm

Re: Rent and utility payment for reward points (Bilt World Elite Mastercard?)

Post by bombcar »

This card especially, but in general - rewards points and cash back are to try to get you to use the card as your default card.

If you structure your spending to allocate each expense to the appropriate card, "you win" and they lose. The explicit 5 other transactions is clearly designed to encourage you to only carry this card, or make it your default card.

I think they gambled wrong, just like the US Mint did back when you could buy dollar coins with credit cards and free shipping ...
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