Bilt Rewards Program We are preparing to launch BillBy By Bilby By Billpay’s new rent payment platform, designed to enhance security for members who do not live in Bilt Partner Properties.
For current BILT members, this is a relatively small update and requires little or no changes on your part. But for homeowners, this is a huge step towards exciting new build features. This is the ability to earn rewards on mortgage payments coming later this year. Additionally, the Rewards program is considering adding other categories, as well as other invoice types that will help current and future members to further increase their rewards.
This is what we know.
Related: 6 Reasons I love my bilt Mastercard as the renter in the most expensive city in the US
New Reward Categories Coming to Bilt
The tenants were delighted when Bilt launched The Bilt Rewards BiltMasterCard® (look Fees and fees) Provides a first-time way to earn transferable rewards in 2021 with rent payments. (To earn points, you must create at least 5 transactions on your card each month. Rewards and benefits. ) After that, the second half of last year, the Built Earn rewards on buying a homehowever, current and future homeowners are still waiting for the opportunity to earn valuable build points on their monthly mortgage payments.
Built has been teasing recently Mortgages are rewarding as a possible new feature, and now it appears that the company is taking concrete steps in this direction.
“[BillPay by Bilt] Richard Kerr, vice president of travel at Bilt, tells TPG that he will create a more seamless and secure payment process while building the foundation for new features, including this year’s mortgage compensation program and other future billing types.
We don’t know yet about how Bilt’s mortgage compensation will work or when it will be released, but it appears that it could debut later this year. This is an exciting development for those who own a home or are considering purchasing one.
Mortgage payments are the largest monthly expenses paid by millions of U.S. homeowners can usually earn tens of thousands of built points per year on purchases they buy anyway. Airline and hotel transfer partners To maximize their value.
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Even if you are a tenant who has already earned built points at your monthly expenses, there may be some exciting changes for you too. Bilt’s rewards appear to view “other future invoice types” as a potential reward category, so you could quickly earn bonus points on other large invoices such as utilities and tenant insurance. Bilt members can do it frequently Earn double points on these purchases By creating them at Bilt’s monthly rent, Bilt probably plans to expand this in the future.
Related: How long does Bilt Rewards Points take to transfer?
How to Use Bilt’s New Payment Platform
If you are currently earning BILT points on rent payments, there are a few things you need to know before moving to BillPay via the BILT Payment Platform.
This change will not affect renters living in Bilt Alliance Properties. If you live in a non-aligned property, your rent compensation account will expire on April 29th, when Bilt switches payment platform to BillPay by Bilt.
Receive new BillPay with BILT routing and account number. This should be added to the real estate payment portal. This is a one-time step that must be completed before your first payment in the new system.
You will then need to pre-author each rental payment for the Bilt app before making a payment. According to the press release, “This pre-approval replaces validation of old post-payment texts and prevents issues such as duplicates and incorrect payments now.”
Up to 5 days before paying your rent, go to the Bilt app to pre-approve payments and choose your rent and payment method. You can use you Bilt MasterCard In Earn build points and exempt fees You can earn both built points and card rewards on rent payments or using other credit or debit cards. To earn Built Points, you must use the Bilt Mastercard at least five times for each statement period.
Related: Bilt members can use points to pay for Lyft Rides
Conclusion
Bilt’s new payment platform is a relatively small change that should make rent payments safer for existing members, but it’s a step towards Bilt’s exciting growth plan. We look forward to learning more about Bilt’s compensation for mortgage payments and beyond, and hopefully later this year.
Click here for Bilt MasterCard pricing and pricing here.
Click here for Bilt MasterCard rewards and benefits here.
