Bilt Credit Card for Home Renovations: Does It Work?

Home renovations are a hot topic in today’s economy. With rising housing costs, many homeowners are choosing to upgrade their existing spaces rather than move. But renovations aren’t cheap—labor, materials, and unexpected expenses can quickly add up. That’s where the Bilt Credit Card comes in. Marketed as a rewards card for renters, it also offers perks that could benefit homeowners tackling renovations. But does it actually work for this purpose? Let’s break it down.

How the Bilt Credit Card Works

The Bilt Credit Card is unique because it allows users to earn points on rent payments—something most cards exclude. But its benefits extend beyond rent. Here’s how it functions:

Earning Points on Rent (and More)

• Rent Payments: Earn 1x point per dollar spent on rent (up to 100,000 points annually).
• Other Purchases: 3x points on dining, 2x on travel, and 1x on everything else.
• No Annual Fee: Unlike premium travel cards, Bilt doesn’t charge for membership.

Redeeming Points for Home Renovations

Bilt points can be transferred to partners like American Airlines, Hyatt, or even used for statement credits. But the real question is: Can these points help fund home renovations?

Using Bilt Points for Home Upgrades

Option 1: Travel Partners for Contractor Trips

If your renovation requires hiring specialists from another city, transferring points to airlines or hotels could save on travel costs. For example:
- Flying a contractor in: Use points for flights via American Airlines.
- Staying near your project: Book Hyatt stays for out-of-town workers.

Option 2: Statement Credits for Purchases

Bilt allows redeeming points for home improvement store purchases (e.g., Home Depot, Lowe’s) at a 1:1 ratio. While not the highest redemption value, it’s a straightforward way to offset costs.

Option 3: Cash Back for Big Expenses

Points can be converted to cash (1,000 points = $10). This isn’t the best value, but it’s flexible—use it for unexpected renovation overages.

Pros and Cons for Renovations

Pros

• No annual fee: Keep the card long-term without extra costs.
• Rent points: If you’re renting while renovating another property, this is a rare perk.
• Flexible redemptions: Use points for travel, materials, or cash.

Cons

• Limited direct home improvement partners: No exclusive discounts at major renovation retailers.
• Lower redemption value for cash: Better to transfer points to travel partners.
• Rent payment restrictions: Must make 5 transactions/month to earn rent points.

Comparing Bilt to Other Renovation-Friendly Cards

Bilt vs. Home Improvement Store Cards

Cards like the Home Depot Credit Card offer 0% APR financing but lack travel rewards. Bilt is better if you want flexibility beyond just materials.

Bilt vs. General Rewards Cards

Cards like the Chase Sapphire Preferred earn higher travel rewards but don’t offer rent points. If rent is a big expense, Bilt wins.

Real-World Example: A $20,000 Renovation

Let’s say you spend:
- $2,000/month on rent = 24,000 Bilt points/year
- $5,000 on dining/travel = 15,000 points
- $13,000 on materials = 13,000 points

Total: 52,000 points/year.
- Travel: Enough for 2 round-trip domestic flights (saving ~$800).
- Cash back: $520 toward materials.

Not enough to fund the whole project, but a helpful supplement.

Final Verdict

The Bilt Credit Card isn’t a magic solution for home renovations, but it’s a smart tool for earning rewards on unavoidable expenses (like rent) and stretching your budget further. Pair it with other financing options, and it could make your next renovation a little more affordable.