topic Re: Success on Rent Reporting with Bilt Card in Credit Cards

Success on Rent Reporting with Bilt Card

clouwel — Thu, 10 Nov 2022 16:59:04 GMT

New here. I have seen several reports on the WF bilt card. And interested in reports on any increased FICO scores from use of BILT with rent reporting. I really don't need the card. Would consider for a bump in rent reporting. Retired. No longer own property. Long credit history, with ups and downs.. .divorces, rebuilding, some identity theft. . Current. Scores Experien 738 Equifax 783 TransUnion 767 Capital One Platinum, Quicksilver, Savour, Chase Sapphire, Wells Fargo Active Cash. Discover It, Care Credit. Amazon Store. . .so my question is do it really need this card. . . Not in a BILT property, but could use the check feature. Thoughts? Thank you in advance.

Re: Success on Rent Reporting with Bilt Card

FireMedic1 — Thu, 10 Nov 2022 21:39:20 GMT

Welcome @clouwel . The card reports rent? Dont see that on WF site. Who did they report to?

https://creditcards.wellsfargo.com/bilt-rewards-credit-card/?sub_channel=SEO&vendor_code=G

Re: Success on Rent Reporting with Bilt Card

CaptJOB — Thu, 10 Nov 2022 22:42:25 GMT

As best I can tell it just reports as another revolving credit line. So technically it's reporting your rent payments since it's not a straight cash transaction/check and is using a credit product but... I don't think it'll really help you enough to make it worth it. Unless you want the points.

Anyone feel free to correct me if that's not your experience.

Re: Success on Rent Reporting with Bilt Card

CYBERSAM — Thu, 10 Nov 2022 22:43:42 GMT

The Bilt card reward is 1X Points on rent payments without the transaction fee.

This has no effect on your credit report or profile. It would just show as balance.

Re: Success on Rent Reporting with Bilt Card

FireMedic1 — Thu, 10 Nov 2022 23:43:24 GMT

There are programs out there that charge a fee to report your rent to the CRA's. FannieMae started one for borrowers to report the rent they recieve to help tenants build credit. They pay more on time if reported. Good for the landlords. Bilt is just a CB card basically.

Re: Success on Rent Reporting with Bilt Card

Bockrocker — Fri, 11 Nov 2022 00:40:17 GMT

I think Experian boost has something like this, but it was more involved than the usual utility/internet tracking. For those I made a bank account I didn't mind Experian having access to and set up billpays of $0.99 which works.