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Some highlights from the article:
I read about this earlier today. Looks promising, since they're making a network of lease management companies, card network, and federal mortgage backers.
@Anonymous wrote:
Some highlights from the article:
- Bilt Technologies Inc., a real-estate startup, wants to launch a new credit card with Evolve Bank & Trust and Mastercard Inc.
- Users can accumulate rewards points through rent and other spending, with no fees charged to the tenant or the landlord when paying rent on the card
- For the typical card user spending $1,500 on monthly rent for 10 years, Bilt estimates the accumulated points savings for a down payment would equal about $6,000
Interesting, if I'm doing the math correctly each point ( one point earned per $1 ) would be worth around 3¢, so a montly $1,500 rent payment would net around $45 in rewards.
Let's not forget "hoping card is still around after a few years, and is not nerfed in the next 15 years"..
I wouldn't be throwing spend on something that's probably not going to stick around, or person may move around, ending up at the place where card payments aren't allowed etc.
@Remedios wrote:Let's not forget "hoping card is still around after a few years, and is not nerfed in the next 15 years"..
I wouldn't be throwing spend on something that's probably not going to stick around, or person may move around, ending up at the place where card payments aren't allowed etc.
I agree 100%. You make a very good point.
The most valuable part about this credit card is that it has the ability to transfer the points earned into American Airlines which in the travel points community has always been the "elusive fox"
If you've already got your Chase cards (5/24) and haven't applied for a card in several months + plan on making rent payments for the next 2 years then IMO getting this card is a no brainer
Am I missing somethong?
How is this better than a 2% cashback card and a high interest savings account?
Is this for people who can't do that because of will power?
@FalconSteve wrote:Am I missing somethong?
How is this better than a 2% cashback card and a high interest savings account?
Is this for people who can't do that because of will power?
Pretty sure this card is designed specifically for paying rent with a CC, and earning points while doing it. Old methods of paying rent with a CC like Plastiq/PPK don't work like they used to. Nothing to do with willpower, more to do with earning rewards where previously there were none (rent payments).
So I did miss something. Rent can actually be paid without paying extra, which is unique. I didn't see this before and it makes more sense now that people might want this.
"Bilt Rewards introduced a revamped rewards program on Tuesday which now allows you to earn bonus points in new spending categories and simplifies earning points on the largest expense for many Americans, rent."
https://www.cnbc.com/select/bilt-mastercard-new-credit-cards-rewards/