What the Bilt sign-up bonus offers
The Bilt Mastercard offers a sign-up bonus of 5,000 points after you spend $500 on purchases within the first three months of opening the account. At Bilt's current redemption rate, 5,000 points equals $50 in statement credits. The card does not charge an annual fee, so there is no cost to opening it and earning the bonus.
The bonus points post to your account once the spending requirement is met, and you can use them when ready. Bilt points can be redeemed for statement credits, transferred to travel partners (including airlines and hotel chains), or used toward rent payments through Bilt's rent payment network. The redemption value varies depending on which option you choose — statement credits are typically worth 1 cent per point, while transfer partners may offer higher or lower value depending on the program.
Key Takeaways
- The sign-up bonus is 5,000 points after you spend $500 within three months, worth $50 as a statement credit.
- There is no annual fee, so you can keep the card open after earning the bonus without paying to maintain it.
- Points can be redeemed as statement credits, transferred to travel partners, or used to pay rent through Bilt's network.
- The card earns ongoing rewards: 3 points per dollar on rent, 2 points per dollar on dining and streaming, and 1 point per dollar on all other purchases.
How to earn and track the sign-up bonus
After you open your Bilt account and receive your card, you have three calendar months to spend $500 on any purchases that count toward the requirement. Most everyday purchases count — groceries, gas, restaurants, online shopping — but balance transfers and cash advances do not. You can check your progress toward the $500 threshold in the Bilt mobile app or online account dashboard at any time.
Once you cross $500 in spending, the 5,000 bonus points are added to your account within one to two billing cycles. You do not need to do anything to claim them; they post automatically. After the bonus posts, you can begin redeeming points when ready through the same app or account portal where you track your balance.
Comparing the Bilt bonus to other rent-focused cards
Bilt is one of the few major credit cards that lets you earn rewards on rent payments without a fee. Most other cards either do not allow rent payments at all or charge a processing fee that wipes out any rewards value. The American Express Gold Card, for example, earns 4 points per dollar on dining but does not earn rewards on rent, and paying rent through a third-party processor incurs a fee.
The Bilt sign-up bonus of 5,000 points ($50 value) is modest compared to some travel cards, which offer bonuses worth $500 to $1,000 or more. However, Bilt's ongoing rent rewards — 3 points per dollar — make it valuable for renters who pay $1,500 or more monthly. A renter paying $2,000 per month earns 6,000 points annually just from rent, which exceeds the sign-up bonus in the first year alone.
What happens after you meet the spending requirement
After the sign-up bonus posts, your card continues to earn rewards on all purchases at the rates listed in your cardholder agreement. Rent payments earn 3 points per dollar, dining and streaming earn 2 points per dollar, and everything else earns 1 point per dollar. There is no cap on how many points you can earn, and points do not expire as long as your account remains open.
You can redeem points at any time in any amount. Many cardholders use the card primarily for rent to accumulate points, then redeem them for travel or statement credits. Others redeem points monthly as they accumulate. The redemption options remain the same whether you are using bonus points or points earned through regular spending.
Redeeming your bonus points
Once your 5,000 bonus points are in your account, you have three main redemption paths. The simplest is a statement credit, which converts points to account credits at a 1-cent-per-point rate — so 5,000 points become $50 in credits applied to your next statement. This option requires no planning and works when ready.
You can also transfer points to travel partners, which include airlines like United, Southwest, and JetBlue, and hotel chains like Hyatt and Marriott. The transfer value varies by partner — some offer better rates than others — so it is worth checking the transfer rates before moving your points. A third option is using points to pay rent through Bilt's rent payment network, though this typically offers the same 1-cent-per-point value as a statement credit.
Factors to consider before opening the card
The Bilt card makes the most sense if you rent and pay by credit card regularly. If you pay rent by check or bank transfer and do not plan to change that, the card's main advantage — earning rewards on rent — does not explore. You would still earn the sign-up bonus and ongoing rewards on other purchases, but the card's value proposition is weaker.
Your credit score affects whether you will be approved and what interest rate you receive if you carry a balance. Bilt typically approves applicants with fair credit and above, though approval is not may provide. If you are approved, the card's lack of an annual fee means there is no downside to keeping it open even if you do not use it regularly — it straightforward sits in your wallet earning no interest charges as long as you do not carry a balance.
How the sign-up bonus compares to ongoing rewards
The 5,000-point sign-up bonus is worth $50 as a statement credit. For a renter paying $2,000 per month, that bonus equals roughly one month of rent rewards (3 points per dollar on $2,000 = 6,000 points). This means the sign-up bonus is a one-time boost, but the ongoing rent rewards are where the card builds value over time.
If you use the card for rent alone and redeem points as statement credits, you would accumulate roughly 6,000 points per month on a $2,000 rent payment. Over a year, that is 72,000 points, or $720 in statement credits. The sign-up bonus accelerates this timeline by adding $50 upfront, but the long-term value comes from consistent rent payments, not the bonus itself.
Frequently Asked Questions
Do I have to use the bonus points within a certain time?
No. Once the 5,000 bonus points post to your account, they do not expire. You can redeem them when ready or hold them indefinitely as long as your account remains open. Points earned through regular spending also do not expire.
Can I meet the $500 spending requirement with rent payments?
Yes. Rent payments count toward the $500 threshold just like any other purchase. If you pay $500 or more in rent during the first three months, you will meet the requirement and earn the bonus.
What if I do not spend $500 in the first three months?
You will not receive the sign-up bonus. The bonus is only awarded after the full $500 spending requirement is met. If you do not reach it, you can still use the card for future purchases and earn regular rewards, but the sign-up bonus will not post.
Can I transfer my bonus points to a travel partner?
Yes. The 5,000 bonus points can be transferred to any of Bilt's travel partners — airlines and hotel chains — just like points earned through regular spending. Transfer rates vary by partner, so check the rates before transferring to see if you get better value than the $50 statement credit option.
Does opening the Bilt card hurt my credit score?
Opening any new credit card results in a hard inquiry, which may lower your score by a few points temporarily. However, the inquiry typically fades within a few months, and the long-term impact depends on how you use the card. Keeping a low balance and paying on time helps your score recover and build over time.