Apart from the 30-day interest-free credit, people use credit cards to earn points. The more they spend, the more points they earn. They accumulate these points and redeem them to buy eligible products or services for free.

But there’s a big problem.

You can earn points only for certain kinds of payments. Yes, it depends on the card issuer’s rules. For example, a certain travel-oriented credit card rewards you with points only when you use the card for travel payments. Similarly, there’re cards that support only retail shopping. Or others might support only fuel payments. Got the idea, right?

In 2019, Ankur Jain, a serial entrepreneur, discovered that there’s no credit card reward for one of the biggest payments every person makes. Yes, I’m talking about rent.

So, Ankur built Bilt Rewards, a FinTech company issuing a credit card rewarding rent payments.

How does it work?

Bilt credit cards let users pay rent and earn points without incurring transaction fees. Users can redeem these points to buy products, services, future rent payments, or even for a down payment on a home.

Cool, right?

But what if the landlord doesn’t accept credit cards? This is where things get interesting. If your landlord doesn’t accept credit cards, Bilt sends a check or ACH transfer to your landlord on your behalf. The rent amount gets charged to your credit card. You earn points with no fees, and your landlord gets paid. It benefits everyone.

A direct check, without a Bilt credit card, to your landlord could mean a fee, with no points earned. Also, rent payments are high-ticket items. So, earlier to Bilt rewards, using credit cards to pay rent attracted a credit card processing fee of 2 to 3 percent that landlords recovered from tenants. With Bilt, there’s no processing fee even if you pay directly to the landlord via the Bilt credit card. That’s a big benefit.

Note that with the Bilt credit card, you earn points not just with rent payments but also other kinds of payments like dining, travel, etc. So, it’s a full-fledged credit card just like other credit cards. Like with others, with Bilt also, you can build your credit history with timely payments.

Another interesting thing about Bilt is that you actually don’t need a Bilt credit card to earn points. Go to the Bilt app or portal and pay your rent using any credit card or payment method. Provided your property manager or landlord’s system should be integrated with Bilt’s app.

To date, their app supports 70% of the top 100 property managers in the US.

Bilt Rewards just announced that they’ll be touching $1 billion in revenue by next quarter. In July 2025, they raised $275 million at a valuation of $10.75 billion.

I’m not surprised at their success. If you solve a big problem, business success is just an outcome. Also, the benefits offered should be clear and compelling. If the benefits don’t excite your audience or they can’t understand them easily, you need to worry. With Bilt, the benefits are overwhelming clear and powerful. Pay rent with zero fees and earn points. Yes, easy to convince.

A user always thinks from the point of cost and reward. If the cost is limited and the reward is high, they’ll try your product. Costco is another business that does well in terms of cost and reward, right? That’s the reason they’re so successful for the past several decades.

What other business comes to your mind? Comment below.