Wells Fargo partners with Bilt Rewards and Mastercard
Wells Fargo announced a strategic partnership with Bilt Rewards and Mastercard to become the official issuer for the Bilt Mastercard. The co-branded credit card allows members to pay rent and earn points with no transaction fees on rent payments at any rental property in the U.S.
Until now, the Bilt Mastercard has been available by invitation-only. With Wells Fargo as the official issuer of the Bilt Mastercard, the program will enable millions of qualified renters nationwide to earn points on rent payments.
Launched in June 2021 by Kairos HQ, a VC firm and accelerator building companies in housing and healthcare, Bilt Rewards is a startup enabling renters to earn points on rent payments. It is backed by Prudential’s PruVen Capital and the founder and CEO of the company, Ankur Jain, is also the co-founder and chairman of Rhino.
“We are thrilled to partner with a game-changing loyalty program like Bilt Rewards. 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.” – Dan Dougherty, executive vice president, Head of Partnerships and Branch Cards, Wells Fargo.
“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. 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. Now, renting means your next vacation, your next workout class, or even savings on your next home. We’re thrilled to extend our relationship with Mastercard and can’t wait to work side-by-side with Wells Fargo to open up the Bilt Mastercard to the world.” – Ankur Jain, Bilt Rewards founder and CEO.
