If you’re lamenting over the fact that PayPal key was discontinued (as of April 20, 2022), then you need to check out the Wells Fargo Bilt World Elite Mastercard. While this does require an application for a new credit card, as a no-annual fee card with multiple transfer partners and World Elite Mastercard perks like Primary Rental Car CDW insurance, Cellphone protection to name a few, it’s almost a no-brainer.
What is Bilt Rewards?
With Bilt Rewards, renters can build credit and earn rewards on rent payments, using the co-branded Mastercard credit card. Every time you pay your rent via Bilt’s app or to an affiliated landlord, you earn Bilt Rewards which are transferable points to airline and hotel travel partners.
Earn points when paying rent
You can earn 1 point per $1 spent on rent (up to 50,000 points annually). Regardless of how much you pay for rent, basically, you get points for expenditures you make anyway each month.
- 3X points on Dining expenses
- 2X points on Travel expenses
- 1X points on all other purchases
The point earning ability comes with no cap (unlike points earned by making rent payments). There is no sign-up bonus for this credit card at the time of writing this article.
Bilt has partnered up with a few Airline and Hotel travel partners where you can transfer your points at a 1:1 conversion rate. Based on the list below, you are covered across both One World and Star Alliance airline partners while IHG hotels and Hyatt offer great hotel booking opportunities (my amazing points redemption at Hyatt Andaz).
- Virgin Atlantic Flying Club
- American Airlines AAdvantage
- IHG Rewards
- Air Canada Aeroplan
- Air France/KLM Flying Blue
- Emirates Skywards
- World of Hyatt
- Hawaiian Airlines Hawaiian Miles
- Turkish Miles & Smiles
Primary auto damage collision damage waiver
This amazing perk can save you a lot of money if your rental car is ever damaged. Primary coverage allows you to avoid using/tapping into your own car insurance and cover any damages to the rental car itself (please not, this does not cover liability insurance). Most cards that offer this type of coverage often come with annual fees.
Cell Phone Protection
When you pay your phone bill with the card, you’ll get coverage up to $800 with a $25 deductible. I have actually used this perk on my other Wells Fargo credit card – covered in an article here.
New/Existing members get 3 months of Dash Pass for free but everyone will receive $5 credit at the start of every month towards purchases. That’s a $60 benefit in a year!
Trip Delay/Interruption and Cancelation Protection
With the Bilt Rewards Mastercard, you can get up to $5,000 back in reimbursement for trip cancellations under covered reasons. I love this perk because it will cover you if your trip (flight/train/boat/etc…) is delayed for more than 6 hours – another perk that mostly comes with High annual fee cards.
No FOREX Fees
Traveling international ? Great news – you won’t have to pay hefty forex transaction fees.
Conditions on the card
In order to earn points with your Bilt Mastercard, you must make at least five purchases per billing cycle. Now, this isn’t too hard to do if you include your weekly grocery run, eating out, impulsive buys, auto insurance or any other small monthly expense. I honestly would just reload amazon or something similar for a $1 – $2 five times.
If you are currently a renter/someone who travels even a few times a year, this card is a no-brainer (see benefits here). Earning points for expenses that you would be making anyway never got easier – thanks to the card’s new earning structure and excellent affiliate partners. However, remember you must use the card at least five times per statement period on other purchases in order to earn your points.
To apply, please consider using the link below.