Is the Bilt Mastercard Worth Getting?

The Bilt World Elite Mastercard® Credit Card is currently the only credit card that lets you earn travel rewards on your monthly rent payment without tacking on extra fees. The annual fee is $0, and there’s no transaction fee for paying rent and no foreign transaction fees for using the card abroad.

Even better, Bilt Rewards earned on rent payments and through daily use of the card can be redeemed in a variety of ways, including a 1:1 transfer to more than 15 airline and hotel loyalty programs.

However, the card isn’t without drawbacks. There's no introductory welcome bonus, and you won’t earn rewards on the card unless you use it at least five times per month. While the card’s dining and travel bonus categories are useful, it does take a little bit of planning to optimize.

Here’s how to decide if the Bilt World Elite Mastercard® Credit Card is right for you.

Annual fee: None.

Sign-up bonus: None.

Rewards:

• 5 Bilt Points per $1 spent on Lyft (when you link your accounts).

• 3 points per $1 spent on dining.

• 2 points per $1 spent on travel.

• 1 point per $1 spent on rent (up to 100,000 points per calendar year).

• 1 point per $1 spent on other purchases.

• (You must use the card 5 times each statement period to earn points. If you do not make at least 5 transactions in a statement period you’ll earn a flat 250 points when you use your Bilt World Elite Mastercard® Credit Card to pay rent through the Bilt app or website.)

Foreign transaction fee: None.

Other benefits:

• Primary auto damage collision damage waiver: Applies when you pay for the rental car with the card. (New York residents are eligible only for secondary coverage.)

• Cell phone protection: Up to $800 in coverage, with a $25 deductible, if you pay your cell phone bill with the card.

• Trip cancellation/interruption protection: Up to $5,000 reimbursement for a covered reason when you pay for travel with the card.

Lyft credits: Receive a $5 Lyft credit each month after you pay for three rides with your card.

» Learn more: What to know about paying rent with a credit card

1. You pay rent

Payment processors such as Plastiq and Venmo have long allowed credit card holders to charge rental payments, but those services charge a fee of around 3% of the transaction amount. That fee largely offsets the value of any rewards earned, curbing the benefit of paying rent by card in the first place.

But with the Bilt World Elite Mastercard® Credit Card, you can earn 1 point per dollar spent on rent, up to an annual cap of 100,000 points per year.

The annual fee is also $0, so there’s no calculus to determine how many rewards you’d have to earn on the card to make it worth holding.

» Learn more: Best no-annual-fee credit cards

2. You want access to travel partners

It’s rare to find a no-annual-fee card that earns transferable travel rewards. But that’s exactly what you’ll get with Bilt Rewards, which can be transferred to over 15 airline and hotel programs, including Hyatt, United Airlines and Alaska Airlines.

Transferring credit card rewards to travel partners can give outsize value. For example, NerdWallet values Hyatt points at 2.2 cents each. If you dine out and earn three points per dollar when you pay with your Bilt World Elite Mastercard® Credit Card, that’s an approximate return of 6.6% when you transfer points to Hyatt.

Additionally, Bilt frequently offers transfer bonuses when you send your Bilt Rewards to a travel transfer partner. For example, in 2024, Alaska Airlines offered up to a 100% transfer bonus depending on your status with Bilt Rewards. That means 25,000 Bilt Rewards could turn into 50,000 Alaska Mileage Plan miles.

» Learn more: The best travel credit cards right now

3. You dine out, travel or use Lyft

Beyond rent payments, the Bilt World Elite Mastercard® Credit Card has some potentially useful bonus categories. Cardholders will receive an uncapped 5 points per dollar spent on Lyft, 3 points per dollar spent at restaurants, 2 points per dollar spent on travel and 1 point on everything else. You’ll also get $5 in Lyft credits when you take three eligible rides in a month with this card.

There’s a nice synergy between these bonus categories, as people who travel frequently are also likely to dine out and use rideshare apps. Using your card on these purchases will also help knock out the five monthly transactions required to earn rewards on the card, including on rent payments.

» Learn more: The best credit cards for restaurants

4. You pay your bills on the first of the month

The Bilt World Elite Mastercard® Credit Card offers double rewards for qualifying transactions made on the first day of each month (“Rent Day”), up to 1,000 bonus points per month. That’s a potential bonus of 12,000 points per year. Unfortunately, rent payments don’t qualify for double rewards.

A straightforward strategy for maximizing that Rent Day bonus is to wait and pay your recurring bills, such as utilities, cell phone or car insurance, until the first of the month. Not only will you earn 2 points per dollar spent, but those transactions will qualify for the five monthly transactions required to earn rewards on your card.

Purchases made in bonus categories also earn double rewards on the first month, so you’ll earn 10 points per dollar spent on Lyft rides, 6 points on dining and 4 points on travel purchases.

5. You travel frequently

The Bilt World Elite Mastercard® Credit Card offers cardholders several travel protections typically reserved for more premium cards, including a primary collision damage waiver on car rentals, trip cancellation and interruption coverage and trip delay reimbursement.

The primary collision damage waiver can be a big deal if you get into an accident since the card’s insurance policy will apply before your personal auto insurance policy. That can save you future rate increases for your personal insurance policy. To qualify, just pay for the rental car with your Bilt World Elite Mastercard® Credit Card and decline the rental company’s insurance. (Note that New York residents receive secondary coverage, not primary.) This coverage is available worldwide except in Israel, Jamaica, the Republic of Ireland or Northern Ireland.

Travel booked with your card is covered for qualifying cancellations or interruptions up to either $5,000 per traveler per trip, or the actual amount charged to your card (whichever is less). Eligibility includes a cancellation or interruption from death, disease or an accidental bodily injury, death of a family member and financial insolvency.

Trip delay reimbursement allows you to recoup expenses incurred if your trip is delayed by six hours or more. You’re covered by $200 per day per traveler for up to three days and a maximum of $1,800 for all covered travelers per trip (including your spouse, domestic partner or dependent children).

6. You want cell phone insurance

The Bilt World Elite Mastercard® Credit Card is issued by Wells Fargo, which offers cell phone protection on all of its consumer credit cards. To qualify, pay your monthly cell phone bill with your card and you’ll be covered up to $800 (after a $25 deductible) for damage and theft to your phone.

» Learn more: Should you pay your cell phone bill with a credit card?

1. You don’t rent

The primary value proposition of the Bilt World Elite Mastercard® Credit Card is the ability to pay rent and earn rewards without any fees. Sure, the card offers other travel benefits and useful bonus categories. But if you don’t rent, you won’t be able to take advantage of the easiest way to stack Bilt Rewards.

2. You won’t use the card 5x per month

The Bilt World Elite Mastercard® Credit Card can be a rewards-earning machine for the right person. However, the card requires you to make five transactions per calendar month to earn any rewards. If you don’t remember to hit those five transactions, you’ll lose any pending rewards for that month. While five transactions is relatively painless, it might still takes some effort to remember to use the card.

3. You don’t travel

The Bilt World Elite Mastercard® Credit Card packs a lot of benefits into a $0-annual-fee card. But if you don’t travel, many of those benefits may go unused. In this case, you’d probably be better off with a cash-back card, though you may not be able to earn rewards on your rent payment.

» Learn more: The best cash back credit cards

4. You want a welcome offer

Many credit cards offer new cardholders a slug of rewards to entice them to get the card. However, you won’t get a welcome offer with the Bilt World Elite Mastercard. The ability to earn rewards on rent payments can more than make up for that, but if you’re not a renter, you may do better with a different travel card.

» Learn more: Best credit card bonuses for new cardholders

Alternatives to the Bilt World Elite Mastercard® Credit Card

The Bilt World Elite Mastercard® Credit Card offers great travel benefits and value for travelers, but that value is diminished if you redeem your rewards for a statement credit. If you'd rather have cash back, you can get a better return on spending from cards like the Chase Freedom Flex® or the Capital One Savor Cash Rewards Credit Card, both of which charge no annual fee and offer a welcome bonus.