Bilt Rewards is eliminating one of its most popular bonus rewards opportunities. Starting October 1, 2024, there will be a new cap on the number of bonus points you can earn on Rent Day, a valuable promotion for the Bilt World Elite Mastercard®* Cardholder.
How Bilt Rent Day works
On the first day of every month, Bilt Rewards offers several promotions to its members. One of the most valuable of these is the Double Points promotion. For approximately 27 hours, from 12:00 p.m. ET to 11:59 p.m. PT, cardholders who make at least five transactions per billing cycle (rewards and benefits) can earn:
- 6 Bilt Rewards points per dollar spent on dining (normally 3 points per dollar)
- 4 points per dollar for travel booked directly with an airline, hotel or car rental company or through the Bilt Travel Portal (normally 2 points per dollar)
- 2 points per dollar on other purchases (normally 1 point per dollar)
Bilt’s most innovative feature, earning points on rentals paid with the card, is excluded from the promotion and only earns the usual 1 point per dollar spent (up to 100,000 points per calendar year).
Bonus cap for rental days drops to 1,000 points in October
Cardholders could earn up to 10,000 bonus points per month through the Rent Day promotion. However, starting in October 2024, that cap will be reduced by 90% to just 1,000 bonus points per month—a drastic change in earning potential for cardholders. Over the course of a year, that represents a drop in potential earning of 108,000 Bilt Rewards points for someone taking full advantage of the promotion. That’s worth $1,350 or more when redeemed through the Bilt Travel Portal.
In addition, from October 1, 2024, tax payments made by card on Rent Day will no longer be eligible to collect bonus points.
While some expenses are still covered by the new limit, the same opportunities are no longer available. Previously, you could strategically wait to make a big spend until you could earn double points: international airline tickets, new furniture or important childcare expenses could shower you with rewards. In the future, there will be less incentive to pull out your Bilt World Elite Mastercard®* for larger purchases.
Other Bilt Day promotions, such as free SoulCycle rides, possible transfer bonuses and the chance to win a free month’s rental, are not affected. To access these, check the “Rent Day” tab of your Bilt Rewards app.
Other features of the Bilt credit card remain unchanged
The Bilt Card’s unique selling point is undoubtedly its earning structure, which allows you to earn rewards on rental payments. This is not changing. You will continue to earn 1 point per dollar on rental payments with no transaction fee (up to 100,000 points per calendar year), 3 points per dollar on dining, 2 points per dollar on travel (when booking through the Bilt Travel Portal or directly with an airline, hotel, car rental or cruise line) and 1 point per dollar on other purchases.
These points are also transferable, so if you want, you can transfer Bilt Rewards to one of their impressive partner airlines or hotels – a unique offer for a card with a $0 annual fee ().
The card also offers some other valuable benefits rarely found in no-annual-fee cards, such as travel protection and no foreign transaction fees. Another plus that remains is cell phone insurance of up to $800 (if you pay your cell phone bill with the card, subject to a $25 deductible). Overall, it could still be a worthwhile deal, especially for someone who prefers no-annual-fee credit cards.
However, the card does not offer a welcome bonus for new cardholders, making it uncompetitive compared to other rewards credit cards on the market. Renters, especially in high-cost-of-living markets, may make up for this shortcoming more quickly than non-renters.
Alternative credit cards for large purchases
There’s a chance the new Rent Day bonus point limits won’t affect you. At 1,000 bonus points per month, you’re still expected to bill at least $333 on a single calendar day (the first of the month) (since the cap applies to bonus points, not base income). But someone who was regularly maxing out the bonus under the old cap is missing out on a lot of potential rewards with the new changes.
The best credit cards for big purchases might shower you with higher rewards or premium benefits. Many travel cards offer annual spending bonuses, such as flight attendant passes or free hotel stay vouchers. Or you might be better off with a 2% cash back credit card that gives you the same amount on every purchase all month long with no cap, especially if Bilt’s bonus categories (travel and dining) don’t align with your typical spending.
Find the best credit cards for 2024
There is no one credit card that is the best choice for every family, every purchase, or every budget. We have selected the best credit cards to be helpful to as many readers as possible.
Is the Bilt Card still worth it?
The ability to earn points by making rent payments with your Bilt Card means the card remains valuable for renters, but the new Rent Day limits are still disappointing. If you enjoyed winning big on this promotion, you have one last chance to earn extra points in September before the cap changes everything. After that, you can still earn rewards on purchases you would have made anyway, but the benefits will never be the same.
