For many, rent is the single largest recurring monthly expense. While paying rent with a credit card can be a convenient way to earn rewards, traditional transaction fees often make it an unattractive option. However, platforms like Bilt Rewards now offer renters a way to pay rent with a credit card with no fees, unlocking rewards and making the process seamless. Here’s a comprehensive guide to everything you need to know about this innovative solution.
Why Pay Rent with a Credit Card?
Using a credit card to pay rent has several advantages:
- Earn Rewards: Accumulate valuable points or cashback on a significant monthly expense.
- Improve Cash Flow: Paying rent with a credit card gives you flexibility, allowing you to manage your budget better.
- Build Credit: Consistent on-time payments can positively impact your credit score.
- Convenience: Credit card payments eliminate the need for checks or bank transfers, streamlining the process.
Meet Bilt Rewards: The No-Fee Solution for Rent Payments
Bilt Rewards is a game-changing program designed for renters who want to pay rent with a credit card while avoiding the hefty transaction fees charged by most platforms. Even if your landlord doesn’t accept credit card payments, Bilt provides a workaround through their Rent Rewards Account, enabling you to earn points and pay rent with no extra costs.
Key Benefits of Bilt Rewards
- No Fees: Use the Bilt Mastercard® to pay rent without the typical 3% transaction fee.
- Earn Points: Earn rewards on rent payments, a category typically excluded from most rewards programs.
- Flexible Payment Options: Whether your landlord accepts direct credit card payments, checks, or app-based methods, Bilt adapts to your needs.
Step-by-Step Guide: How to Pay Rent with Bilt Rewards
1. Sign Up for Bilt Rewards
Start by signing up for Bilt Rewards. Click here to get started.
2. Download the Bilt Rewards App
Once you’ve signed up, download the Bilt app to set up your account and manage payments.
3. Set Up a Rent Rewards Account
Navigate to the “Pay Rent” tab and select the “Pay Rent Online” option. Bilt will generate a unique routing and account number for you, which you can use to pay rent through your landlord’s online portal.
4. Link Your Payment Method
Connect your preferred credit or debit card to your Bilt account. If you use the Bilt Mastercard®, you’ll avoid transaction fees entirely.
5. Submit Your Rent Payment
Enter the Bilt-provided account details into your rental portal. Bilt will process the payment and charge your linked payment method.
6. Earn Points
With each rent payment, you’ll earn Bilt Points that can be redeemed for travel, dining, fitness memberships, and more.
How Bilt Works for Different Payment Methods
For Online Portals
Use the routing and account number provided by Bilt to pay rent directly through your landlord’s portal.
For Landlords Who Only Accept Checks
Bilt offers a convenient service where they mail a check to your landlord on your behalf. This service is free when you use the Bilt Mastercard®.
For Venmo and PayPal Payments
If your landlord accepts rent through apps like Venmo or PayPal, you can link your Bilt Mastercard® and still earn rewards.
Common Questions About Paying Rent with Bilt
Are There Transaction Fees?
- There are no fees when you use the Bilt Mastercard® to pay rent.
- Payments made with other credit cards incur a 3% transaction fee, and debit card payments cost $9.95.
What If My Landlord Requires Verification Deposits?
Bilt will send microdeposits to your landlord’s account for verification. You’ll receive instructions via email or text to complete the process.
Can I Use the Rent Rewards Account for Non-Rent Payments?
No, the Rent Rewards Account is exclusively for rent-related payments.
What If My Landlord Only Accepts Checks?
Bilt will mail a check directly to your landlord at no extra cost. You’ll still earn points on the transaction.
Can I Use Bilt for Other Housing-Related Payments?
Yes, you can use Bilt for other housing-related payments like HOA fees, utilities, internet, and security deposits, but only for one property per month.
Benefits of Using Bilt Rewards for Rent Payments
- No Transaction Fees: When using the Bilt Mastercard®, you avoid additional costs, making it the most affordable credit card rent payment option.
- Earn Points: Accumulate points on your rent payments, which can be redeemed for travel, dining, and more.
- Flexible Payment Options: From checks to online portals and apps like Venmo, Bilt supports a wide range of payment methods.
- Track Payments Easily: The Bilt app makes it simple to track your rent payments and rewards points in one place.
- Build Financial Health: By earning points and paying rent on time, you can enhance your financial stability and credit score.
Turn Your Rent into Rewards
Paying rent with a credit card has never been easier or more rewarding. With Bilt Rewards, you can avoid fees, earn valuable points, and simplify your payment process. Whether your landlord accepts credit cards, checks, or app payments, Bilt provides the tools you need to make your rent work for you.
Ready to maximize your rent payments? Sign up for Bilt Rewards today and start earning rewards with no fees!
