Massive Modifications at Bilt: Extra Hire Rewards, New Methods to Use Factors – NerdWallet

Bilt Rewards continues to show itself as a top-tier rewards forex. Over the previous month, the rewards program has added new methods to earn factors on lease funds, extra journey companions and extra redemption choices.

The optimistic modifications have been rolling out quick. Right here’s a abstract of what’s new.

Bilt now permits customers to earn as much as 100,000 Bilt factors per calendar 12 months by utilizing any bank card to pay lease. To get began, you will want to hitch Bilt Rewards — it is free — and hyperlink a card to your account.

Beforehand, any lease cost that wasn’t made with the Bilt World Elite Mastercard® Credit score Card was capped at incomes 250 Bilt factors per cost, or 3,000 Bilt factors yearly. There’s a 3% price for utilizing any third-party playing cards for lease funds, however you’ll additionally obtain rewards out of your bank card along with Bilt Rewards.

If you happen to’re utilizing the Bilt World Elite Mastercard® Credit score Card, take into account that the cardboard have to be used 5 occasions per assertion interval to earn factors on lease and qualifying internet purchases (purchases minus returns and credit) for that assertion interval. If you happen to do not make at the least 5 transactions in a press release interval, you’ll earn a flat 250 factors once you use the cardboard to pay lease by the Bilt app or web site.

If you happen to use a special card to pay lease, that 3% price might be simple to beat with the fitting bank card sign-up bonus. For instance, the Chase Sapphire Most popular® Card is presently providing the next welcome provide: Earn 100,000 bonus factors after you spend $5,000 on purchases within the first 3 months from account opening.

If you happen to paid a 3% price on the complete minimal spend requirement of $5,000, you’d change $150 in charges for at the least 105,000 Chase Final Rewards® factors (together with the factors from the preliminary spend requirement). These 105,000 Chase Final Rewards® factors can be value a minimal of $1,050 if redeemed assertion credit score or — even higher — they’d be value $1,313 when redeemed by Chase’s journey portal and probably extra when you transferred these factors to Chase’s switch companions. Plus, you’d earn an extra 5,000 Bilt factors within the course of, for the reason that card is a Visa.

Bilt can also be making Southwest its month-to-month Hire Day switch bonus for Might 1, 2025. Relying in your Bilt Rewards elite standing, you’ll obtain between a 25% and 100% bonus for factors transfers to Southwest — however like different Hire Day offers, it’s out there for sooner or later solely.

Bilt Rewards can now be redeemed for funds to scholar loans serviced by Nelnet, MOHELA, Sallie Mae, Aidvantage and Navient. Factors are value 1 cent every when redeemed towards scholar mortgage funds. You should use the Bilt web site or app to use your factors to your scholar mortgage stability.

Whereas you will get higher worth to your rewards by transferring them to journey companions, this might be an effective way to pay down your scholar mortgage stability quicker. In case your lease is $1,500 monthly and you employ your Bilt Rewards bank card every month for the cost, that might be an additional $1,800 per 12 months you may funnel towards paying down your scholar loans.

Bilt Mastercard holders can now redeem Bilt factors for as much as $10 in financial savings throughout checkout at Walmart, Walgreens, CITGO, CVS, BP and Greenback Normal. Factors are value 0.55 cent every at these retailers, aside from Walgreens Pharmacy the place factors are value 0.7 cent every. These redemptions don’t offer you a very good worth to your factors, nevertheless it’s good to have choices. To redeem factors at one in every of these shops, pay together with your Bilt World Elite Mastercard® Credit score Card at checkout and choose “Sure” to redeem factors when prompted on the terminal.