June 23, 2021
A new Bilt credit card and rewards program by Kairos makes it possible for US-based renters to earn rewards by paying their rent through the Bilt app, Forbes reports.
The launch of the new Bilt Rewards program and credit card was announced by Kairos on June 22. Kairos focuses on affordability, supporting ventures such as Alloy Health, Rhino, and Little Spoon.
Their latest venture—Bilt, makes tenants’ lives easier by allowing them to pay rent with a credit card fee-free while earning rewards at the same time. They’ve partnered with estate owners and property managers such as The Related Companies, Equity Residential, and The Blackstone Group to make this possible.
Even tenants whose landlords don’t accept credit cards or aren’t part of the Bilt Rewards Alliance can still pay their landlords through the Bilt app. Bilt will then send a check directly to the landlord, taking the hassle off the tenant’s hands.
Bilt Mastercard Rewards
Using the Bilt credit card, users can earn up to 2x points when paying rent or 1x points for other, non-rent expenditures. In addition, Bilt currently has a limited offer for earning up to 3x points for your first rent payment if you choose to get the card. The points can add up to 4,000 per month for rent payments, or 48,000 per year.
Apart from not charging any fees for each rent payment, the credit card has no annual fee as well. However, it still offers attractive benefits for purchases beyond rent—Lyft and Doordash credits, purchase protection, cell phone protection, and a 24/7 concierge service.
As for redeeming the reward points, they can be used for travel with American Airlines, Air Canada, Emirates, Air France/KLM, Turkish, Virgin Atlantic, Hawaiian, and Hyatt at a 1:1 rate. They can also be used for future rent payments, but, in that case, one point is worth only 0.55 cents.
Another option for Bilt Mastercard users is to redeem their points at fitness service providers, such as SoulCycle, Rumble, or Y7, where the transfer rate is 1 cent per point. Cardholders can also use Bilt reward points toward a mortgage down payment while building their credit, which is great for those struggling with getting a mortgage or an apartment with bad (or even no) credit.
If used responsibly, the Bilt Mastercard can make rent payments easy, while earning rewards and building credit.
Nearly every rent-paying US resident will be eligible for the Bilt Mastercard. However, at this time, the card will only be available to tenants who rent through the Bilt Rewards Alliance.
- The Blackstone Group
- The Related Companies
- Equity Residential
- AvalonBay Communities, Inc.
- Camden Property Trust
- Cushman & Wakefield
- Trammell Crow Residential
- Highmark Residential
- AMLI Residential
- Morgan Properties
- SL Green Realty Corp.
- Starwood Capital Group
- The Moinian Group
- Veritas Investments
- Artemis Real Estate Partners