Well, it sounds like the new Mesa Homeowners Card got the attention of one of its competitors.
Bilt is best known for its credit card that allows members to earn points on rent, but soon homeowners will also be able to earn points on mortgages.
We heard rumblings about this possibility a while back, but it never materialized, possibly because the numbers just didn’t pencil out.
Now it seems that some good old fashioned competition may have proven to be the mother of innovation.
And if you’ve been paying attention, the Mesa, which is planning the same thing, happens to be built by some former Bilt employees, including
Bilt MasterCard will reward home owners in 2025
In his letter to Bilt members released today, Bilt Rewards CEO Ankur Jain said, “We will be announcing the first phase of plans in the mortgage space, creating a whole new category of value for homeowners.”
This includes the ability to earn points on mortgage payments and points when refinancing a mortgage, likely a referral style program.
As I always say with these referral programs, don’t use the lender unless the total cost is lower than other options, even though you can earn points!
Anyway, the fact that you can use a credit card to pay the mortgage is the big thing here, at least for me.
It has been very difficult to pull out, and even when it is allowed, there are often large fees that negate the benefit of using plastic.
I have long thought that the math just doesn’t work and that mortgage lenders and loan providers are not that keen on their customers collecting on the mortgage. And who can blame them?
But the public has been quite vocal about wanting points/cash back on pretty much every purchase they make, especially large transactions that have high earning potential.
So apparently Bilt will soon let you pay off the mortgage with a credit card. Just stay tuned for the official launch date.
Competition is heating up for homeowners in the credit card space
Lately, it seems that credit card issuers have become more and more interested in homeowners.
It makes sense as they probably have a lot of expenses (in addition to the mortgage) and could be solid customers.
As mentioned, a new competitor (Mesa) recently entered the fray with its Mesa Homeowners Card, which earns one point per purchase. dollar spent on monthly mortgage payments.
It is currently on the waiting list, but may have been the inspiration for Bilt to announce it in their letter today.
Especially since some of the Mesa team includes former Bilt employees.
For the record, Bilt also came up with this idea in early 2024, but nothing came of it all year.
Perhaps they are still figuring out the economics of it, as it can be expensive to allow mortgage payments on their network when no other card issuer allows it without fees.
I also wonder if there would be an annual fee on the card or if it would require cardholders to also spend X amount on other purchases.
Currently, the Bilt Mastercard offers 1X on rentals, but you must use the card at least five times each statement period to actually earn points.
This could very well also be a requirement for payment of mortgage loans. It must of course make sense for all parties involved.
Bilt Rewards now also offers points for home purchases
Back in late November, Bilt announced that they were launching the industry’s first program to earn points on home purchases.
What they meant by that is that Bilt members will now be able to earn Bilt points when they buy a home through an eXp Realty agent.
So it’s basically a realtor referral program where you earn one Bilt point for every $2 in property price if you connect with one of their preferred agents.
On a $400,000 home purchase, we’re talking 200,000 Bilt Points, which can be redeemed for all kinds of things like shopping, fitness classes and travel.
In fact, you can transfer the points to frequent flyer programs and hotel loyalty programs at a 1:1 ratio to maximize value.
Perhaps even more interestingly, you can redeem Bilt points for a down payment on a home, and the value is even better at 1.5 øre per
This equates to $1,500 towards your payout if you have 100,000 Bilt points. Pretty cool.
Finally, you can also use points for rentals, even if the redemption value is less than 0.55 cents per rental. points or $55 for every 10,000 points.
In other words, it might be better to save those points and use them for a down payment on a new home and kiss the rent goodbye!
Read on: Should I rent or buy a home?
Before creating this site, I worked as an account manager for a wholesale pawn shop in Los Angeles. My hands-on experience in the early 2000s inspired me to start writing about mortgages 18 years ago to help potential (and existing) homebuyers better navigate the home loan process. Follow me on Twitter for hot takes.
