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If you input your apartment address in BILT as your "HOME" address, BILT tells you how to pay the rent. Very likely it will provide the ACH info. But your landlord has to accept ACH in order for that to work. I've never sent any paper check.
BILT has some ways to verify that you are reallying paying rent. If the payee is a daycare facility, the ACH will likely get returned and you won't earn the 1x on rents.
The problem with BILT card is that, Wells Fargo has a very tight underwriting standard since it is very conservative. Some of the cards I opened have very low credit line, like $3,000, $4,000 etc. So there is no enough CL to pay the rents in big city. This is the reason that we have to open more accounts to pay rents and bring down the utility rate. Then we get about 25 days to pay back.
@BronzeTrader wrote:The problem with BILT card is that, Wells Fargo has a very tight underwriting standard since it is very conservative. Some of the cards I opened have very low credit line, like $3,000, $4,000 etc. So there is no enough CL to pay the rents in big city. This is the reason that we have to open more accounts to pay rents and bring down the utility rate. Then we get about 25 days to pay back.
That's my concern too, I've been rejected by WF this January and I see guys like Fico 800s get 3000 SL on Autograph. Do you live in Manhattan or what lol, the card should be ideal since you spend so much on rent. I on the other hand pay modest less than 1000, nay even near 600 lol so I do wonder if it's really worth applying..but rent still is my biggest monthly expense
@Anonymous wrote:
@BronzeTrader wrote:The problem with BILT card is that, Wells Fargo has a very tight underwriting standard since it is very conservative. Some of the cards I opened have very low credit line, like $3,000, $4,000 etc. So there is no enough CL to pay the rents in big city. This is the reason that we have to open more accounts to pay rents and bring down the utility rate. Then we get about 25 days to pay back.
That's my concern too, I've been rejected by WF this January and I see guys like Fico 800s get 3000 SL on Autograph. Do you live in Manhattan or what lol, the card should be ideal since you spend so much on rent. I on the other hand pay modest less than 1000, nay even near 600 lol so I do wonder if it's really worth applying..but rent still is my biggest monthly expense
Our lowest CL is $3k and the highest is $30k. Do not know why.
Checks are still good in some cases (at least for small LLs in California). A bad tenant could use ACH or some other non-specialized payment apps to underpay rent (or otherwise violate the lease agreement) and rightfully claim in court that the LL still accepted a partial payment, thus invalidating any effort to evict a tenant.
We're in a nice but not glamorous area. Lots of single family homes so people with good credit and incomes generally buy rather than rent. But I know BILT's corporate landlord network is enormous.
Just curious, does anyone know if the Bilt WEMC has also free / no-cost car rental upgrade benefits with the AVIS, Hertz, etc. car rental companies, similar to the card formerly known as the Cap1 GM BuyPower WEMC (now issued as the Goldman Sachs My GM Rewards Card WEMC)? Thanks!
@galahad15 wrote:Just curious, does anyone know if the Bilt WEMC has also free / no-cost car rental upgrade benefits with the AVIS, Hertz, etc. car rental companies, similar to the card formerly known as the Cap1 GM BuyPower WEMC (now issued as the Goldman Sachs My GM Rewards Card WEMC)? Thanks!
I don't have the card but it appears that they do, @galahad15.
However, there is the disclaimer on Wells Fargo, "Wells Fargo has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of this website."
Many thanks for the helpful and valuable info @Aim_High !
App is so good, already sent check via mail using Biltprotect lol, landlady might get the rent early
This could be an ideal airline card if you're not a Delta loyalist: will transfer those rent points to use on one way flight to Seoul
Get 100 pts each when u link ur acct of travel partners. Got 300 with United, AA and Hawaiian. I think I'll join ALL other travel partners and link those for free pts