New York City mayor Eric Adams partied it up with a number of celebs at Manhattan’s One Vanderbilt Monday night. Hizzoner, model Cara Delevingne, A$AP Rocky, and others attended a Wells Fargo-sponsored event to announce a program by which renters could now make payments with the bank’s newest credit card. The program is a joint venture between Wells Fargo, Mastercard, and Bilt Rewards, which calls itself “the leading loyalty program for renters.”
“We are thrilled to partner with a game-changing loyalty program like Bilt Rewards,” said Dan Dougherty, executive vice president, Head of Partnerships and Branch Cards, 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.”
The co-branded Bilt Mastercard was first announced last June, per CNBC, and cardholders could still have their rent paid even if their landlords don’t accept credit by having a check mailed in lieu. Cardholders also earned 2x Bilt Reward points for every dollar spent on rent (up to a maximum of 4,000 points per month). Non-rent transactions earned users 1 point.
However, the new Bilt Mastercard from Wells Fargo sweetens the deal even more by employing a “0-1-2-3” loyalty point structure. What that means is holders of the new card will get to enjoy:
- $0 annual fee
- 1X Points on Rent
- 2X Points on Travel
- 3X Points on Dining
- 1X Points on Other Purchases
“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.”
“So [to] everyone who moved to Florida,” Adams told last night’s attendees at One Vanderbilt and the hopeful renters of NYC, “get your butts back to New York City because New York City is where you want to be!”
Learn more about the Bilt Rewards Mastercard by visiting www.biltrewards.com.