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popular Posted by joysaikat • Mar 29, 2022
popular Posted by joysaikat • Mar 29, 2022

Bilt credit card offering upto 50000 reward points for fee-less rent payment

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Bilt credit card offering upto 50000 reward points per year on fee less rent payment
This is not a deal in the sense of slickdeals, but this info has let me earn a lot of reward points so far. I searched a bit and could not see anything on slickdeals; hence, I am creating a post. Please delete the post if this has already been reported.

Bilt credit card partnered with our building for fee less rent payment while I could earn 1x point on rent. This was a no brainer as rent is my biggest expense. Now, Bloomberg is reporting that Bilt has partnered with WellsFargo to offer their credit card and they have opened their fee-less rent payment to everyone (and not only partnering buildings).

Note: 1. Their app is pretty cool, and the claimed point conversion is pretty mind blowing (e.g. 1:1 United miles).


https://www.bloomberg.com/news/ar...ayments​




https://www.biltrewards.com/card
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Bilt credit card offering upto 50000 reward points per year on fee less rent payment
This is not a deal in the sense of slickdeals, but this info has let me earn a lot of reward points so far. I searched a bit and could not see anything on slickdeals; hence, I am creating a post. Please delete the post if this has already been reported.

Bilt credit card partnered with our building for fee less rent payment while I could earn 1x point on rent. This was a no brainer as rent is my biggest expense. Now, Bloomberg is reporting that Bilt has partnered with WellsFargo to offer their credit card and they have opened their fee-less rent payment to everyone (and not only partnering buildings).

Note: 1. Their app is pretty cool, and the claimed point conversion is pretty mind blowing (e.g. 1:1 United miles).


https://www.bloomberg.com/news/ar...ayments​




https://www.biltrewards.com/card

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90 Comments

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Mar 29, 2022
1,412 Posts
Joined Jan 2020
Mar 29, 2022
SiennaDeer8270
Mar 29, 2022
1,412 Posts
Quote from jrlcopy :
Anyone have a card that wants to refer me, PM me? I saw you get bonus pts. Feels like a no brainer with my rent, I can net 43k points a year.
What's the cash redemption for 43k points?
Mar 29, 2022
1,520 Posts
Joined Mar 2005
Mar 29, 2022
jrlcopy
Mar 29, 2022
1,520 Posts
Quote from SiennaDeer8270 :
What's the cash redemption for 43k points?
So TPG says it has a value of 1.8/cents/pt, so like $777. Free money basically, I can change my streaming services to the card each month to hit that 5/transactions month. So should work well in my favor.
https://thepointsguy.com/news/bilt-wells-fargo/

Mar 30, 2022
12,500 Posts
Joined Dec 2004
Mar 30, 2022
kensteele
Mar 30, 2022
12,500 Posts
no thanks. this reminds me of those pre-approved car loan checks you used to get in the mail that you fill out the amount (up to) and sign the back and turn it over to the dealership when you buy a car from them. more often then not, the dealership wouldn't accept it because they didn't want to bother. the check has a lot of terms, etc. i get the feeling if you use this, next month you get a call from your landlord saying "we got the "check" and we need to talk about it...."

dealing directly is fine but can anyone comment on this check. if the landlord deposits it, obviously it not as simple as a routing number and a bank account loaded with funds. you cash this check on behalf of slickdealer and you are obligated to do what else?
Mar 30, 2022
1,520 Posts
Joined Mar 2005
Mar 30, 2022
jrlcopy
Mar 30, 2022
1,520 Posts
Quote from kensteele :
no thanks. this reminds me of those pre-approved car loan checks you used to get in the mail that you fill out the amount (up to) and sign the back and turn it over to the dealership when you buy a car from them. more often then not, the dealership wouldn't accept it because they didn't want to bother. the check has a lot of terms, etc. i get the feeling if you use this, next month you get a call from your landlord saying "we got the "check" and we need to talk about it...."

dealing directly is fine but can anyone comment on this check. if the landlord deposits it, obviously it not as simple as a routing number and a bank account loaded with funds. you cash this check on behalf of slickdealer and you are obligated to do what else?
You don't need to cut a check, right there on their website, they just give you an ACH + Routing number that you punch into your landlords website. Just pay rent the same way you have before.
Quote :
Instead, you'll use your unique checking and routing number found in the Bilt Rewards app
Mar 30, 2022
1,412 Posts
Joined Jan 2020
Mar 30, 2022
SiennaDeer8270
Mar 30, 2022
1,412 Posts
Quote from jrlcopy :
You don't need to cut a check, right there on their website, they just give you an ACH + Routing number that you punch into your landlords website. Just pay rent the same way you have before.
Is it only for landlords that have a website? Why can't I use this checking and routing number on any website to pay my bills then? Like property tax.

Heck you could double dip your credit card points too. You'd get cashback for spending on your credit card and then more cashback by paying your credit card off using this bank account and routing number. The possibilities are endless if this is indeed how they are paying your landlord.
Last edited by SiennaDeer8270 March 29, 2022 at 07:59 PM.
Mar 30, 2022
1,412 Posts
Joined Jan 2020
Mar 30, 2022
SiennaDeer8270
Mar 30, 2022
1,412 Posts
Quote from jrlcopy :
So TPG says it has a value of 1.8/cents/pt, so like $777. Free money basically, I can change my streaming services to the card each month to hit that 5/transactions month. So should work well in my favor.
https://thepointsguy.com/news/bilt-wells-fargo/
If it's 1.8 cents per point then that means this is a 1.8% cashback credit card and not 1%.
Mar 30, 2022
1,520 Posts
Joined Mar 2005
Mar 30, 2022
jrlcopy
Mar 30, 2022
1,520 Posts
Quote from SiennaDeer8270 :
Is it only for landlords that have a website? Why can't I use this checking and routing number on any website to pay my bills then? Like property tax.
​
Quote from SiennaDeer8270 :
Is it only for landlords that have a website? Why can't I use this checking and routing number on any website to pay my bills then? Like property tax.

Heck you could double dip your credit card points too. You'd get cashback for spending on your credit card and then more cashback by paying your credit card off using this bank account and routing number. The possibilities are endless if this is indeed how they are paying your landlord.
After reading through their FAQ and what other people in this form wrote, it seems that once it figures out who you're paying rent too, then it will only allow the points reward to go to that. Obviously who knows, I'm sure there's a way to scheme it. You're also limited to only 50k points for rent a year, so yeah there's that. Depends on whatever their algorithm is doing.
https://www.biltrewards.com/help?a=What-is-a-Bilt-Rent-Account-and-how-does-it-work---id--viJhL0n1Ro... [biltrewards.com]

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Mar 30, 2022
1,412 Posts
Joined Jan 2020
Mar 30, 2022
SiennaDeer8270
Mar 30, 2022
1,412 Posts
Quote from jrlcopy :
​

After reading through their FAQ and what other people in this form wrote, it seems that once it figures out who you're paying rent too, then it will only allow the points reward to go to that. Obviously who knows, I'm sure there's a way to scheme it. You're also limited to only 50k points for rent a year, so yeah there's that. Depends on whatever their algorithm is doing.
https://www.biltrewards.com/help?a=What-is-a-Bilt-Rent-Account-and-how-does-it-work---id--viJhL0n1Ro... [biltrewards.com]
How would you rig up an account and routing number to only work on a specific website? Or are you saying bilt would only credit points to your account for that one specific merchant? Still not bad if you can spend 50k at one website.

50k limit at 1.8 cents would limit you to $900 per year cashback. Is there a limit of one card per ssn?
Mar 30, 2022
12,500 Posts
Joined Dec 2004
Mar 30, 2022
kensteele
Mar 30, 2022
12,500 Posts
Quote from jrlcopy :
You don't need to cut a check, right there on their website, they just give you an ACH + Routing number that you punch into your landlords website. Just pay rent the same way you have before.
ok yes the blog is very helpful, thank you.
Mar 30, 2022
134 Posts
Joined Jan 2021
Mar 30, 2022
BargainShopper101
Mar 30, 2022
134 Posts
Credit score requirements?
Mar 30, 2022
1,412 Posts
Joined Jan 2020
Mar 30, 2022
SiennaDeer8270
Mar 30, 2022
1,412 Posts
Quote from jrlcopy :
Not sure, but I imagine they figured out a way to prevent people from abusing the system. I just got approved, took less than 24 hours. As soon as the app starts working I'll let you know. And yeah... probably a limit of one card per ssn. No credit card company lets you have two of the same card.

If anyone wants a referral PM me.
Abusing what system? If they set up payments through checking and routing number, they want to provide flexibility on using it at different sites. If they wanted specific sites only, they should email payment links to those specific sites only.

Whether or not they want to reward points to only specific sites is something they can also control. Try paying off your credit card with the checking and routing numbers and see if you receive points. Try redeeming for cash back and see if they give you 1.8 cents per point. Can you link your bank account to transfer out the cashback?
Mar 31, 2022
500 Posts
Joined Feb 2007
Mar 31, 2022
im2bz2p
Mar 31, 2022
500 Posts
Being able to use this for mortgage payments would be game changer. I hope someone can create a *new* SD topic when/if that ever happens.

~ im2bz2p Smilie
Mar 31, 2022
1,412 Posts
Joined Jan 2020
Mar 31, 2022
SiennaDeer8270
Mar 31, 2022
1,412 Posts
Quote from im2bz2p :
Being able to use this for mortgage payments would be game changer. I hope someone can create a *new* SD topic when/if that ever happens.

~ im2bz2p Smilie
Why can't you get a checking and routing number and try making a mortgage payment? Not sure how you can code a checking and routing number to only work on certain sites. Then you don't need to wait and can create the new thread yourself.
Mar 31, 2022
8,532 Posts
Joined Nov 2011
Mar 31, 2022
iBoo
Mar 31, 2022
8,532 Posts
How does paying rent work? Do we just put the landlords name, address, and a check is mailed to him?

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Mar 31, 2022
1,654 Posts
Joined Apr 2005
Mar 31, 2022
hotdeal13
Mar 31, 2022
1,654 Posts
Quote from iBoo :
How does paying rent work? Do we just put the landlords name, address, and a check is mailed to him?

the app will create routing number and account number and you just pay like you usually pay through the bank.

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