The best credit card to pay rent is the Bilt Mastercard (Nov 2022)

Note: This post was originally published in November 2022. Credit card features, point structures, and payment processors change frequently. Please verify current terms before applying.

When I first started paying rent in the Bay Area (and let me tell you, Bay Area rent is a whole other level compared to what I was paying in Singapore), I thought: surely there's a way to earn points or cashback on this giant monthly expense? In advertising, we'd call this "maximizing your media spend." Same principle applies to your wallet :P

After doing a bunch of research, I found that there's really only one good answer right now.

The Bilt Mastercard — the only card worth using for rent

The Bilt Mastercard is, as of November 2022, the only credit card that lets you earn points on rent without a transaction fee. That "no fee" part is the key.

If you use a regular credit card to pay rent, most payment processors charge 2.5% to 3% in transaction fees. That's an extra $25-$30 per $1,000 of rent per month. So if your monthly rent is $2,000 (which, in the Bay Area, would actually be a bargain), you'd be throwing away $600 to $720 a year on fees alone. That math made me cringe T.T

With Bilt, the transaction fee is zero. Even if your property only accepts checks, you can pay through the Bilt Rewards app and they'll send a check on your behalf. I thought that was pretty clever.

You earn 1X points on rent payments (up to 50,000 points per calendar year), and Bilt points can be transferred to a solid list of airline and hotel partners — Hyatt, IHG, United Airlines, Emirates, and more. As someone who still flies back to Singapore and Vietnam regularly, this was a big draw for me.

The rest of the card's benefits are decent but not spectacular:

• No sign-up bonus (unfortunately)
• 2X points on travel
• 3X points on dining
• 1X on everything else

Important: You must make at least 5 transactions that post to your account each statement period to earn points. This tripped me up the first month — I only used the card for rent and got zero points. Make sure you are using it for a few small purchases (coffee, groceries, whatever) throughout the month.

Why not other cards?

I looked into alternatives before settling on Bilt, so let me save you the research. Most cashback cards (Chase Freedom, Citi Double Cash) charge you 2.5-3% in transaction fees through rent payment processors like Plastiq — which wipes out whatever rewards you earn and then some. The Citi Custom Cash gives 5% back on your top spending category, but rent payments through third-party processors do not count toward category bonuses. Some people use the Chase Sapphire Preferred for its sign-up bonus and then pay rent through Plastiq — that can make sense as a one-time play to hit the bonus threshold, but it is not a sustainable monthly strategy. Bilt is the only card where the math works every single month.

Want to go deeper on Bilt?

I wrote a more detailed piece about everything you need to know about the Bilt credit card if you're interested.

Some FAQs I found helpful

My rental property isn't in the Bilt Rewards Alliance. Can I still earn points?

Yes! You can use a Bilt Rent Account to pay. More details here.

My online portal charges a fee for credit cards. Will I be charged?

Nope. With a Bilt Rent Account, you use a unique routing and account number (found in the Bilt app) and enter it into your portal as an ACH / e-check payment. Whenever those numbers are used, Bilt charges your Mastercard for the same amount — but since it's processed as ACH, the portal doesn't charge you the credit card fee. You still earn points. Pretty neat.

Will paying rent with a credit card hurt my credit utilization?

This is a valid concern, especially for expats still building credit. Bilt has a feature called BiltProtect that lets you pay rent without using your available credit line. Essentially, Bilt charges your card but simultaneously pulls the funds from your bank account. You still earn the points but your utilization isn't affected. More info here.

Are you using the Bilt card, or have you found another creative way to earn rewards on rent? I'm always curious what other expats are doing.

Cheers,

Chandler

P.S. I created a group on Facebook called Asian Expats in the US where we share tips like this. Feel free to join.