Bilt Foreign Transaction Fee: Avoid Fees with Bilt Mastercard

by | May 17, 2024 | Transactions fee | 0 comments

Bilt Mastercard Overview

The Bilt World Elite Mastercard is a unique credit card that allows cardholders to earn rewards on their rent payments without paying any transaction fees. Issued by Wells Fargo Bank, N.A. and licensed by Mastercard International, this card offers a compelling value proposition for renters looking to maximize their rewards.

In addition to rewards on rent, the Bilt Mastercard earns points on travel, dining, and other purchases. Cardholders can redeem their points for a variety of options, including travel, rent credits, fitness classes, and even saving towards a future home down payment.

Issuer and Network

The Bilt World Elite Mastercard is issued by Wells Fargo Bank, N.A., which acts as the card issuer and administrator. The card is licensed by Mastercard International, enabling it to be used on the global Mastercard network for purchases and transactions.

As a World Elite Mastercard, the Bilt card comes with an array of premium benefits and protections, such as enhanced insurance coverage, exclusive discounts, and VIP experiences. Cardholders can enjoy these perks both in the U.S. and when traveling abroad.

Rewards Program

One of the standout features of the Bilt Mastercard is its robust rewards program. Named Bilt Rewards, this program allows cardholders to earn points on a variety of spending categories:

  • Earn 1x points on rent payments (up to 50,000 points each calendar year)
  • Earn 2x points on travel
  • Earn 3x points on dining
  • Earn 1x points on other purchases

The ability to earn rewards on rent is especially noteworthy, as this is a large expense category that is typically excluded from credit card rewards. By using the Bilt Mastercard, renters can turn their monthly housing payment into valuable points.

Bilt Mastercard Fees

When considering a new credit card, it’s important to understand the various fees that may be charged. Fortunately, the Bilt Mastercard has a very favorable fee structure, with no annual fee and no foreign transaction fees.

No Foreign Transaction Fees

The Bilt Mastercard does not charge any foreign transaction fees, making it an excellent choice for international travel. Cardholders can use their Bilt card abroad without worrying about incurring extra costs on their purchases.

This is a valuable benefit, as many other credit cards charge a foreign transaction fee of around 3% on purchases made outside the U.S. By avoiding these fees, Bilt Mastercard holders can save money on their international trips.

Other Fees to Consider

While the Bilt Mastercard does not have an annual fee or foreign transaction fee, there are some other fees to be aware of:

Fee Amount
Balance Transfer Fee Either $5 or 3% of the amount of each balance transfer, whichever is greater in the first 120 days. After that, up to 5% for each balance transfer ($5 minimum)
Cash Advance Fee Either $10 or 5% of the amount of each cash advance, whichever is greater
Late Payment Fee Up to $40
Minimun Interest Charge $1.00

It’s always a good idea to pay your credit card bill on time and in full each month to avoid interest charges and late payment fees. By doing so, you can enjoy the rewards and benefits of the Bilt Mastercard without incurring extra costs.

Interest Rates

The interest rates for the Bilt Mastercard, also known as Annual Percentage Rates (APRs), vary based on the cardholder’s creditworthiness and are tied to the U.S. Prime Rate.

Variable APR Based on Creditworthiness

The Bilt Mastercard offers variable APRs for purchases, balance transfers, and cash advances. The specific rate is determined by adding a margin to the U.S. Prime Rate, with the margin based on the cardholder’s credit profile:

  • APR for Purchases: 16.49%, 20.49%, or 25.49% (based on creditworthiness) plus the U.S. Prime Rate
  • APR for Balance Transfers: 16.49%, 20.49%, or 25.49% (based on creditworthiness) plus the U.S. Prime Rate
  • APR for Cash Advances: 25.74% plus the U.S. Prime Rate

These rates are variable, meaning they can fluctuate over time as the U.S. Prime Rate changes. It’s important to note that the interest is calculated based on the average daily balance, including new purchases.

As with any credit card, practicing responsible credit habits like paying your bill in full and on time each month can help you avoid costly interest charges on your Bilt Mastercard account.

Bilt Mastercard Benefits

In addition to its strong rewards program, the Bilt Mastercard offers a range of valuable benefits for cardholders. From bonus points to travel protections, these perks can help you save money and enhance your experiences.

Rewards Points Earning Potential

As mentioned earlier, the Bilt Mastercard allows you to earn Bilt Points on a variety of purchases:

  • Earn 1x points on rent payments (up to 50,000 points each calendar year)
  • Earn 2x points on travel
  • Earn 3x points on dining
  • Earn 1x points on other purchases

These points can add up quickly, especially if you use your Bilt card for most of your spending. Plus, on the first of each month (known as Bilt Rent Day), you can earn double points on all non-rent purchases.

Elite Status and Redemption Options

The Bilt Rewards program offers four elite status tiers, based on the number of points you earn in a calendar year:

Status Tier Points Required
Blue Enroll in Bilt Rewards
Silver 25,000 points
Gold 50,000 points
Platinum 100,000 points

Higher status tiers come with enhanced benefits like interest on points, complimentary Bilt Collection gift, bonus points, and complimentary access to and Awayz. is an award search tool that helps you find and book flights using your points and miles. Awayz is a similar hotel award search tool.

Bilt Points can be redeemed in a variety of ways, such as:

  • Transferring to airline and hotel partners like American Airlines, Turkish Airlines, Hyatt, IHG, etc.
  • Rent credits or mortgage down payment with the Bilt Rewards program
  • Travel through the Bilt Travel Portal
  • Fitness classes with SoulCycle, Rumble Boxing, and Y7 Studio
  • Merchandise in the Bilt Collection

This flexibility makes Bilt Points especially valuable, as you can redeem them for the options that best suit your needs and preferences.

Additional Perks and Protections

The Bilt Mastercard comes with an array of World Elite Mastercard benefits, including:

  • Cellular Telephone Protection – Get up to $1,000 per year in cell phone damage or theft coverage, just for paying your cell phone bill with your card
  • Purchase Security – Provides coverage for new purchases for up to 120 days against damage or theft
  • Trip Delay Reimbursement – If your trip is delayed by more than six hours, you’re covered for unreimbursed expenses like meals and lodging, up to $500 per trip
  • Car Rental Collision Coverage – Receive primary coverage in the case of damage due to collision or theft
  • Trip Cancellation and Interruption Protection – Get trip cost reimbursement up to $10,000 per claim if your trip is canceled or interrupted due to a covered reason

Additionally, through March 31, 2024, cardholders can receive a $5 Lyft credit each month when they take at least three eligible rideshare trips and use their Bilt Mastercard to pay.

These benefits and protections can provide significant value, especially for frequent travelers. By using your Bilt Mastercard to book trips and make purchases, you can enjoy added peace of mind and potentially save money if things go wrong.

Is the Bilt Mastercard Right for You?

Now that we’ve covered the key features and benefits of the Bilt Mastercard, let’s discuss whether it might be a good fit for your wallet.

Ideal Cardholder Profile

The Bilt Mastercard is an excellent choice for the following types of individuals:

  • Renters who want to earn rewards on their monthly rent payments
  • Frequent travelers who value flexible rewards points and travel protections
  • Foodies who dine out regularly and can maximize the 3x points on dining
  • Those who want a no annual fee credit card with strong earning potential

If you fit into one or more of these categories, the Bilt Mastercard could be a great addition to your wallet. The ability to earn points on rent is especially compelling, as this is a major expense that is typically excluded from credit card rewards.

Comparing Bilt to Other Rewards Cards

Of course, the Bilt Mastercard isn’t the only rewards credit card on the market. Let’s see how it stacks up against some popular alternatives:

Card Rewards Rate Annual Fee
Bilt Mastercard 1x on rent (up to 50k points per year), 2x on travel, 3x on dining, 1x on other purchases $0
Citi Double Cash 2% cash back on all purchases (1% when you buy, 1% when you pay) $0
Capital One Venture Rewards Credit Card 2x miles on all purchases $95

As you can see, the Bilt Mastercard offers a unique combo of high rewards rates in specific categories and no annual fee. If you spend a lot on rent, dining, and travel, you could out-earn a flat-rate card like the Citi Double Cash. And while the Capital One Venture card does offer a solid 2x miles on everything, it comes with a $95 annual fee.

Ultimately, the right card for you depends on your specific spending habits and rewards preferences. But for renters and frequent travelers, the Bilt Mastercard is definitely a strong contender thanks to its well-rounded rewards program and valuable benefits.

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