News Brief

Wells Fargo partners with Bilt Rewards and Mastercard to issue the first credit card that earns points on rent payments without the transaction fee

March 28, 2022 | San Francisco

The No-Annual Fee Bilt Mastercard Will Give Cardholders a Way to Earn Points Towards Travel, Fitness and Even Homeownership with Every Rent Payment

Bilt Mastercard Partnership Marks First New Credit Card Between Wells Fargo and Mastercard in Over Five Years

Wells Fargo & Company (NYSE: WFC) today announces a new strategic partnership with Bilt Rewards, the leading loyalty program for renters, and Mastercard® to become the official  issuer for the Bilt Mastercard. The first-of-its-kind co-brand credit card allows members to pay rent and earn points with no transaction fees on rent payments at any rental property in the U.S. Through this innovative new partnership, renters across the country will now be able to earn unparalleled rewards that can be redeemed towards travel around the world, access to their favorite fitness classes, and even credit towards a down payment on a home.

Until now, the Bilt Mastercard has been available by invitation-only. With Wells Fargo as the official issuer of the Bilt Mastercard, the program will now enable millions of qualified renters nationwide to a one-of-a-kind credit offering.

“We are thrilled to partner with a game-changing loyalty program like Bilt Rewards,” said Dan Dougherty, executive vice president, Cobrand Partnerships, Wells Fargo. “Rent is the single largest expense for the vast majority of American renters, yet it’s never been a tool that helps consumers confidently enter the housing market. As the new issuer of the Bilt Mastercard, Wells Fargo can now help renters with the card take their biggest expense and turn it into a rewarding experience, including helping them build a path to homeownership.”   

Wells Fargo, which serves 1 in 3 U.S. households, counts over 70 million customers, and operates more than 5,000 branches across the country, will work in partnership with Bilt Rewards to market the card to its customer-base and the next generation of renters. The public launch of the Bilt Mastercard marks the first time that renters can earn rewards on the collective $500 billion spent nationwide in the U.S. each year on rent, without the transaction fees historically charged by properties.

“We are excited to replicate the enthusiasm we’ve seen surrounding Bilt Rewards within our Bilt Alliance network and extend the rewards of renting to every renter in the U.S.,” says Ankur Jain, Bilt Rewards Founder and CEO. “With the cost of rent at an all-time high, there is no better time than now to show the world that paying rent doesn’t have to mean lighting your money on fire. Now, renting means your next vacation, your next workout class, or even savings on your next home. We’re thrilled to extend our relationship with Mastercard and can’t wait to work side-by-side with Wells Fargo to open up the Bilt Mastercard to the world.”

The Bilt Mastercard offers a competitive 0-1-2-3 product structure, making it not only the go-to credit card for rent, but also for dining, travel, and everyday spend.

The 0-1-2-3 structure[1] and additional card benefits include:

  • $0 annual fee.
  • 1X Points on Rent: Earn 1x points on rent payments (up to 50,000 points each year) when paying through the Bilt app.
  • 2X Points on Travel: Earn 2x points on travel booked directly with airlines, hotels, cruise lines, and car rental agencies. Travel benefits and features include trip cancellation, auto rental collision damage waiver, Lyft credits, and no foreign currency conversion fee.
  • 3X Points on Dining: Earn 3X points whether you're at your favorite restaurant, lounge, or ordering in. Plus, get access to a 24/7 reservation concierge and DoorDash discounts.
  • 1X Points on Other Purchases: Earn 1X point on other purchases, and enjoy premium benefits like cell phone protection, purchase security, auto rental collision damage waiver and more.
  • For more information visit:

The Bilt Mastercard also features World Elite Mastercard® benefits, which includes access to exclusive offers with select merchants; advanced security features including Mastercard ID Theft Protection™, Zero Liability and Price Protection; and access to Priceless® Experiences. And developed by Mastercard exclusively for Bilt Mastercard cardholders, BiltProtect ensures that renters aren’t using up their credit line to finance rent by pulling funds directly from their linked bank account with each rent charge. 

“Consumers today are looking for dynamic financial products that work harder for them, while also catering to their everyday needs,” said Bunita Sawhney, executive vice president, U.S. Financial Institutions at Mastercard. “We’re thrilled to extend our relationship with both Bilt Rewards and Wells Fargo to bring truly unique and innovative solutions to renters at scale.” 

The Bilt Mastercard is being launched in partnership with Bilt Rewards, the leading loyalty program for renters, launched in 2021 by an alliance of the nation’s largest multifamily property owners and managers including AvalonBay, Blackstone, Camden, Cushman & Wakefield, Equity Residential, GID, Related, SLGreen, Starwood, and Veritas among others. The alliance currently represents over 2 million apartment units. With Wells Fargo as the card issuer, the Bilt Mastercard will now be accessible to the broader population of 109 million renters across the country. 

Through its high-value loyalty program, Bilt members and cardholders can redeem their points for travel across over 100 major hotel and airline partners (through points transfers); fitness classes at the country's top boutique studios including: SoulCycle, Solidcore, Rumble and Y7; limited-edition and exclusive collections of art and home decor through the Bilt Collection; and can even use their points for rent credits.

Bilt Rewards will also be the first program to let members redeem points towards a down payment on a home through Fannie Mae and the Federal Housing Administration. That means that by paying rent, cardholders can lower their future mortgage costs, making home ownership more affordable in the future.

With Wells Fargo’s distribution, renters can use the Bilt Mastercard to pay rent and earn points at any rental unit in the U.S., even if their landlords don’t accept credit cards. For buildings that do not accept credit card or digital payments, cardholders simply pay their rent through the Bilt App, and a check will be sent to landlords on the cardholder's behalf.

For more information on how to apply for the Bilt Mastercard visit or download the Bilt Rewards app.


[1] Cardholders must use their card at least 5 times within each statement period in order to earn points for the cycle.

Media Contacts

Nicole Dye-Anderson, Wells Fargo
Lauren Doyle, Bilt Rewards
Alyssa Rosenblatt, Mastercard

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at | Twitter: @WellsFargo.

About Bilt Rewards

Launched by Kairos HQ in June 2021, Bilt Rewards is the first-ever loyalty program that allows renters to earn points on rent with no fees and builds a path towards homeownership. Through a partnership with the country's largest owners including AvalonBay Communities, Equity Residential, Related, Starwood Capital Group and more, Bilt Rewards enables renters in more than two million units across the country to earn points just by paying rent. Bilt Rewards boasts one of the highest value rewards programs on the market today, including one-to-one point transfers to 11 loyalty programs allowing travel across over 100 major airlines and hotel partners; fitness classes at the country's top boutique studios including SoulCycle, Solidcore, Rumble and Y7; limited-edition and exclusive collections of art and home decor through the Bilt Collection, and the ability to use Bilt points for rent credits or towards a future downpayment. Bilt has also partnered with Mastercard to create the Bilt Mastercard - the first and only credit card that can be used to pay rent with no fees. Bilt is a Kairos company. For more information, visit

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.