The Rewards Master

This post is not sponsored in any way by the BILT Mastercard or Wells Fargo and represents the sole opinion of therewardsmaster.com. Therewardsmaster.com is not receiving any compensation as a result of this review.

The BILT card, issued by Wells Fargo, is one of the hottest new cards in the credit card market. The BILT card’s claim-to-fame is the ability to charge rent and earn points without transaction fees. This feature is a game-changer, as the BILT card is the only credit card currently available, offering such a powerful incentive for renters, who earn one BILT point per dollar on rent payments.

However, the card has a few well-documented shortcomings, particularly the lack of any sign-up bonus and lackluster spending multipliers. Although the card does earn three points per dollar on dining and two on travel, all remaining spending is rewarded with only one point per dollar spent. The multipliers are sweetened by the one-day-a-month “Rent Day” feature when all multipliers are doubled on the 1st of every month.

One significant hesitation many consumers have when considering the BILT card is the lack of any means of earning points for mortgage payments. While great for renters, homeowners might feel left behind with no targeted benefits or sign-up bonus. With these things in mind, should a homeowner consider the BILT card?

One powerful feature of the BILT card is its list of transfer partners. While many of their airline partners are shared by other programs (American Express, Chase, Citi, and Capital One), two partners stand out: Hyatt and American Airlines. Hyatt’s only other transfer partner is Chase, and the hotel chain is probably Chase’s strongest partner and the primary reason why Chase Ultimate rewards are considered a valuable currency. Hyatt redemptions often yield a 2+ cent per point redemption rate, a consistently high rate of return. Additionally, BILT is the only credit card issuer whose points transfer to American Airlines. American Airlines’ miles can consistently be redeemed for 1.7 cents per point, making American Airlines’ miles the most valuable of any domestic airline.

Although BILT does not have an official sign-up bonus, many card members report receiving a promotion for 5x points on all purchases (excluding rent payments) for the first five days after card activation. If used strategically, with planned spending, this unofficial bonus can result in thousands of BILT points. The BILT card also has top-tier travel protections uncommon for no-annual-fee cards, including trip cancellation, trip delay, primary car insurance, and cell phone protection.

For no annual fee, BILT has stacked their card with features typically only found in cards with fees from $95 to $250 a year. There isn’t any question that BILT is the premier card on the market for renters. Still, the benefits offered, protections, travel partners, and no foreign transaction fee make the card a compelling option for homeowners.