Homeowners can now earn rewards on their largest monthly expense: their mortgage. The Bilt Rewards program, previously focused on rent payments, has expanded to include mortgages, allowing users to accumulate points simply by paying their housing costs. This is significant because it transforms a fixed expense into an opportunity for cashback and travel rewards, which could add up to substantial savings over time.
Setting Up Your Bilt Account for Mortgage Payments
To begin earning Bilt points on your mortgage, you’ll need a Bilt Rewards account and one of their credit cards:
- Bilt Blue Card: Offers a $100 Bilt Cash signup bonus.
- Bilt Obsidian Card: Offers a $200 Bilt Cash signup bonus.
- Bilt Palladium Card: Offers 50,000 bonus points and Gold status with qualifying spending.
You must also link a bank account to your Bilt Wallet. The mortgage payment will be processed as an automated clearing house (ACH) transfer, debited from your linked bank account. Unlike the original Bilt program, payments are not charged directly to your credit card.
Paying Your Mortgage Through Bilt: Two Methods
There are two primary ways to pay your mortgage via Bilt and earn points:
- Direct Linking: Within the Bilt app (“Home” section, “Add a mortgage”), Bilt may automatically identify your mortgage based on credit report data. If so, link it directly for seamless payments. If not, manually search for your provider using your account number or address.
- BillPay Integration: Select “View payment instructions” in the app to access Bilt’s routing and account numbers. Enter these details into your mortgage provider’s website as if making a standard bank transfer. This method allows for one-time payments or recurring autopayments.
You can choose between two point-earning structures:
- Flexible Bilt Cash: Earn 1 point per dollar spent at a rate of $30 per $1,000 paid.
- Tiered Earning: Earn up to 1.25 points per dollar based on non-housing spending on your Bilt card.
Real-World Results: Points Earned and Processing Time
The author successfully paid their mortgage using the BillPay method, earning 3,000 Bilt points. The mortgage was paid on schedule, and the points posted to their account within one business day. This confirms that the system works as intended.
Final Thoughts
Paying your mortgage through Bilt is a viable way to earn rewards on a major expense. However, given the importance of housing payments, it’s wise to test the system with a small payment before relying on it for your full monthly amount. Setting up well in advance ensures a smooth experience and peace of mind. For now, this is a promising way to stack rewards on a payment you’re already making.
