Bilt Rewards, the groundbreaking loyalty program that allows renters to earn points on their monthly rent payments, is finally letting homeowners in on the fun, too.
On Tuesday morning, Bilt’s founder and CEO, Ankur Jain, penned a surprisingly transparent letter to Bilt members laying out where the program is heading in the new year. The highlight? You’ll soon be able to earn points on your monthly mortgage payments. An exact timeline for when this feature will become available is unclear, but it’s slated for sometime in 2025.
This announcement comes on the heels of Bilt launching a first-of-its-kind partnership with eXp Realty last month that awards home buyers with Bilt points when purchasing a new house and is something that members have been clamoring for since the loyalty program debuted back in 2021.
While this news is no doubt exciting for Bilt members that don’t rent, it doesn’t come as a complete shock: Bilt quietly announced that this was in the works back in January with a minor footnote buried deep inside an unrelated press release. This new wrinkle is all a part of Bilt’s plan to become more than just a loyalty program for renters.
What’s more, Jain’s letter also hinted at a “Bilt Card 2.0” coming in 2025. Whether this will be a revamped version of the current *Bilt Mastercard* or a brand new offering altogether is unclear. What we do know is that Bilt has heard feedback from members looking for more “premium offerings.” He went on to say, “This next evolution of our card program would focus on tiered offerings that better serve different member needs while delivering enhanced value through new benefits on housing spend and our neighborhood network.”
Could a new Bilt Card with an annual fee be required to earn points on mortgage payments? Maybe.
As it currently stands, the *Bilt Mastercard* is needed to earn points on rent payments for any non-Bilt Rewards Alliance property. One would assume that having a co-branded Bilt Card will be a prerequisite for earning points on mortgage payments as well – and that’s not necessarily a bad thing. We’ve long made a case for the no-annual-fee Bilt Card being a solid choice for renters and non-renters alike – this could just be the final push that non-renters need … including yours truly.
Read our full review of the Bilt Mastercard!
Beyond the bombshell news that Bilt is planning to reward homeowners with points on their monthly mortgage payments, the letter also contained a couple of tidbits about enhanced “Neighborhood Benefits” that are in the pipeline.
Bilt members can already earn points when eating out at any of Bilt’s neighborhood dining restaurants, as well as on pharmacy purchases at Walgreens – even without holding the Bilt card. Next year, Bilt plans to expand this offering to include rewards and benefits in even more essential daily categories like grocery stores, gas stations, and parking facilities. If it continues to work like the existing neighborhood benefits, you will be able to earn Bilt points when shopping at these places on top or your usual credit card rewards.
Bottom Line
For years, Bilt’s biggest knock has been that it’s a program solely geared towards renters. Well, that’s all about to change: Bilt just announced that beginning next year, homeowners will be able to earn points on their monthly mortgage payments.
Bilt also teased some changes to its credit card program, calling it “Bilt Card 2.0,” though it’s unclear whether this will include a new card offering or changes to the the existing Bilt Card.
