Bilt Rewards, the groundbreaking loyalty program that allows renters to earn points on their monthly rent payments, just announced plans to conquer a new frontier: Home mortgages. That's right, Bilt is working on giving mortgage holders a way to earn points on their monthly payments, too.
That detail was buried deep in a Wednesday news release announcing a new round of fundraising and several high-profile additions to the loyalty company's board, including NFL Commissioner Roger Goodell. But the biggest news for travelers and *Bilt Mastercard* cardholders came down to a single, nine-word sentence: “Additionally, Bilt plans to venture into mortgage payment rewards.”
That's it. That's all they said. The release was short on details, and a Bilt spokesperson declined to provide any additional information for now.
But it's an exciting prospect that many homeowners and avid travelers will no doubt relish. While Bilt changed the landscape by giving renters an easy way to rack up points on their monthly rent bill without paying any additional fees, earning points on mortgage payments could be a game-changer. Monthly Rent Day promotions, Bilt Dining, and a partnership with Lyft can help non-renters earn these valuable points, but earning points on mortgage payments could open the floodgates for more homeowners to dive into the Bilt ecosystem.
Bilt suggested Wednesday that its latest investment have set this big enhancement in motion. Still, there are far more questions than answers about how it will work.
Will Bilt require you to apply for a mortgage through a specific partner – or maybe even apply for a mortgage directly through Bilt – in order to earn points? How many points can you earn? Do you need a Bilt Mastercard in order to earn points on your mortgage? And when will this all happen?
We don't know yet. But the fact that it's in the works is exciting.
Bilt burst onto the scene in 2021 as the first program to allow Americans to earn transferrable points on their largest monthly expense: rent. The list of Bilt transfer partners includes gems like World of Hyatt, American Airlines, Turkish Miles & Smiles, United Airlines, and many more, making these points incredibly valuable. But you can also redeem Bilt Rewards points through a travel portal, among other opportunities.
Whether you rent from a property that's part of the Bilt Rewards Alliance or anywhere else, you can pay rent with the *Bilt Mastercard* to earn 1 point per $1 – for up to 100,000 points per year. But it's also a well-rounded travel rewards card for homeowners and other non-renters alike to earn those points on their everyday spending.
Read more: A Full Review of the Bilt Mastercard
Meanwhile, Bilt has expanded its reach beyond just providing points for rent with the introduction of Bilt Dining, where you can earn bonus points by dining at a participating restaurant and paying with any eligible card (not just a Bilt card) – in addition to your usual card rewards. Additionally, a partnership with Lyft allows members to earn extra Bilt points with every ride.
You can also earn a few hundred Bilt points by linking your travel loyalty accounts in the Bilt app and playing their monthly Points Quest trivia game.
Bottom Line
The company that changed the landscape for earning points on rent payments is looking to get into mortgages, too.
Bilt just quietly announced its plans to reward homeowners for their monthly mortgage payments. There are far more questions than answers as to when this will roll out and how it will all work – and Bilt isn't answering them yet.
Nonetheless, it's an exciting development that will undoubtedly expand Bilt's appeal to more members.
So why not Car Payments or Lease Payments?