Pay Your Rent w/ a Credit Card! (Bilt Mastercard Review 2022)
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- Опубліковано 6 лис 2022
- Let's talk about my experience with the Bilt Mastercard from Wells Fargo and why I cancelled it after 1 month...
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If your credit limit is $1000 then I’m not taking your credit card advice serious any ay
LMAO, this is not advice - this is just me sharing MY experience. Like I said in the video, if you want this card then get it! My experience is likely the minority, I'm sure this card is great when it works as intended
Lol
@@JakeMCL I got the card and canceled it within a week
It’s not practical
What a stupid comment. The dude is sharing his experience with a frustrating customer service problem. This could happen to anyone with a limit from $100 to $100k.
@@JakeMCLno, this is advice and it totally sucks
I agree with you about the Wells Fargo part… but… you know … there isn’t an annual fee on the card… you don’t really need to cancel it unless you were looking for a response from the cancellation department or something.
Yep credit hit for cancelling. But i get it if he was pissed and said "I'm cancelling!!!"
@@amsgh93 I did the same exact thing
Basically said F this card
@@amsgh93 there is not a credit hit from cancellation of a card. You’re thinking of “length of credit history,” which doesn’t matter for this case.
@@bucsfan2565this is partially incorrect. Credit Utilization takes into account the amount of credit available compared to credit used. Closing a credit card also closes that credit line, effectively reducing your total available credit across your portfolio.
For a no annual fee card, it’s almost always better to sock drawer it than cancel.
Sorry to hear about your bad Bilt experience, Jake. I have two other WF cards (Active Cash and Autograph) and have had no issues whatsoever with either of those and I just got the Bilt card and (🤞🏼) so far so good with that one, too. Not sure what I can tell you but, if it were me (and I can certainly understand your frustration) I would’ve kept the card open and put a couple small charges on it just to see if they went through then tried to use it for my rent the next month and go from there. Just my opinion. But thanks for the video and the information.
For me, it's a MASSIVE problem that they don't have 24/7 customer support. I received a fraud text that looks like it could be a phishing scam outside of their weekend hours, so am going to have to wait ~15 hours for an e-mail or chat response (they don't have telephone support on the weekends).
yeah that really stinks :/
I ran into a similar issue when I was trying to apply for the card. I Had to fax my documents three times for them to finally receive and issue the Card. But ever since i got it, it’s been working just fine
1K credit limit is the problem upon approval. I got approved yesterday for 10k. 6k I can use immediately until my card arrives in the mail in the meantime
I can say Wells Fargo doesnt have the best customer service but the Bilt Card has been great for me especially when I am traveling.
I’m glad it’s been good for you! I think for most people it’s been good, I just got unlucky lol
@@JakeMCL I just got my card, haven't used it yet. Perhaps because your limit is so low. And you used all of that, right? $1000?
that's super frustrating. It sucks when people are incompetent at their jobs. 🤷♀
Haha yeah it’s unfortunate
Yeaa when I opened my card they gave me a 6k credit limit I could see how having a lower limit could cause issues. And because of having a higher limit I didn't set up the debit protection option and the plus is when the card works properly by paying on the 1st of the month with it they're giving you two months to cover your rent since the statement is closed 25 days out from when the payments made.
It almost sounds like you connected the wrong bank account… Did you hook up your personal checking account/or the card number itself to pay for the rent instead of the bilt-issued bank account to pay for rent? I just got the card and it’s been a smooth transition for me. I also just got the notification about the deposit test this morning as well.
I'm thinking about getting the card can you dumb down what you originally said about hooking up the account to pay my rent? You're saying not to correspond my personal bank info into my rent online portal??
@@jerryy5568 yeah! Once you're approved for the card, they will provide you banking information that you plug in instead of your personal bank account. That's how you get the points. It was super easy to set up!
I followed their guide step by step, not sure how I could’ve messed up but anything is possible lol.
Super helpful video
I’ve had the bilt card for a year now and had zero problems, maybe cuz i havent had to use bilt protect since my credit limit is 10k. The card its really an awesome card. It even has phone insurance, i lost my phone and the process was smooth.
Jake, Is never pleasant when you have to put up with these issues and on top of it pay late fees because of their mistakes.
I got my BILT in June used it for July's rent and so far no problems. I never connected my bank account because my credit limit is above my rent amount and I always paid in full by due date. One thing that concerns me is that I can't track when my landlord receives my rent check or when he deposits it to his account. I assumed it's been on time since I haven't got charged late rent fee or an eviction notice. Definitely in your case is not worth the hassle and I would have done the same. Oh my apartment building is not part of their "Alliance" network.
What bank u pay with
how long did you receieved the check to your mailbox?
Bilt has been on the come up. Valuation just hit $1.5b and that unicorn status. I always figured if the affiliation with Wells Fargo would bring them back to earth. Great idea and a great tool for those who pay rent. Can’t stay in orbit, though, when their rocket is maintained by the ethically challenged WF.
Informative video. Great job.
Thank you!
Why do you speak NASA bruh?
I've been stuck in a similar situation with Wells Fargo trying to make my own god damn car payments. They wouldn't approve of an account I've been paying with for years and it took months and dozens of calls to finally get the goth person to fix it. Wells Fargo would tell me it's my banks problem, my bank would say it's Wells Fargos problem. Wells Fargo was the issue.
Thanks for posting.
I was intrigued by this at first. But then I realized a year's worth of points to pay off rent only gets me one night in a hotel room that would otherwise cost me $255 out of pocket. Is my math wrong here?
That’s better than not getting a free hotel night just for paying rent.
That was a bad experience for Bill and wells Fargo as either could have gotten on the phone with one another and solve the issue but they chose not too.
When you got hold its not removed to next day as per my experience with other cards
That sounds really frustrating, I’ve had no problems with my Bilt card so far but was definitely hesitant to get it because of Wells Fargo
I’m glad you haven’t had any issues! That seems to be most people’s experience, I think I just got unlucky :/
Just got approved for a Bilt card. Requested a 6K check be sent to my soon to be landlord for my first month's rent, plus security deposit. Hoping it works smoothly, since 3K a month rent will let me accumulate a decent amount of points.
Hope it works for you!
@pamlove9064 any word on how this worked out?
@@derekcross202 landlord got the check fairly quickly. So far pleased with this credit card.
How is your experience going?
@@callmeNeno I use it every month to pay my rent and it is going well.
I would never have canceled a credit card over a hour phone call ….it has no annual fee ! Should have kept it open and gotten the kinks worked out
I was a bit annoyed lol, but I don't regret cancelling it
Thanks for the info. I really was looking forward to this card and applying but I might not. My wife has over millions invested with WF. I always clown her for it. DO NOT DO ANY BUSINESS with WF. Anyways, I def don't need this hassle.
It was a warning for me already when i couldn't get hold of anyone in their online chat.
I’ve seen lots of good things about the card as well, but WF is a bit eh 😂
I’m glad you didn’t bash the card and scare other people for getting the card. I’m sorry about your certain experience.
Yeah it was just my one experience, I’ve seen lots of good about the card too!
U tried to pay 1800 rent with a 1000$ limit. There’s the issue right there.
No, they have a seperate feature to pay rents over your credit limit - that was the problem. Their "checking account" feature with the card didnt work
had the card then wf told me there was fraud on the card ... cancel it and then send me a new card ...wf isnt the best
Have you not thought of talking to both wells fargo AND bilt at the same time? Dont let them just transfer you, do a conference call with them..
1. Why would you cancel a card right after opening it? It's a no AF card. You already took a hit on your credit score from opening it (hard inquiry). This is net negative.
2. $1k credit limit is quite low. Woulda been great for you to use this to build credit.
I agree, I should've kept it open. My credit score was barely effected, TransUnion didn't even go down at all. I was annoyed in the moment and cancelled - not gonna lose sleep over a couple points on my Equifax score
It’s. BS useless card
@@JakeMCL Even if you did not use it, it would have helped your credit to have an extra $1000.
@@cindyrichards3253 Depends. If he has a few cards with over $10,000 limit, this $1000 is a drop in the bucket.
Why didnt you just ask to conference the call between the two parties?
My thoughts exactly.
That's a good idea, idk in the moment I didn't think about it. They said they would talk to each other before transferring me, so I just figured the Wells Fargo and Bilt reps were doing what they said they would and talking about my case
Why cancel a no annual fee card and why such a low credit limit?
Just don't want to think about or remember to use it every few months to keep it active. Plus I was just a bit annoyed in the moment LOL
Did you try sending a check instead?
I didn't :/ I prob could've tried that but I was hopeful the checking account way would work the way they said it would
Wells is not the problem. The problem is Bilt, I have the autograph card and the customer service has been a great experience and for the most part American based.
Yeah I just got the card. I probably should not have got it. WF is terrible! I guess I shall see. I got it mainly for the transfer partners.
Wells Fargo is literally THE WORST.
Lol i would have sent bilt a invoice for the late fee for my rent + wasted time
honestly I should have LOL
I reached out to my contact at BILT. I summarized your experience and linked your video to him. I really believe in what they're doing. I'm sure the process will be smoothed out.
Regarding the five monthly purchases requirement, I'm paying all my bills on the 1st so I can get 2X.
But this first month I did it a little differently.
BILT gave me a 5X 5-Days intro offer.
So I paid:
6 months car insurance
1 year motorcycle insurance
6 months T-Mobile
By the way. Did you know that any non-BILT credit card using the portal gets 1X?
It's true.
As one example, I can use my Navy Federal Flagship Visa, which gets 3X broad Travel, to book through the BILT portal and effectively get 4X.
That same Flagship card also gets 2X on Everything.
Just something I noticed that may be of interest to you all when strategizing your card.
Take what you have and apply it.
Lol that's exactly what i did to make full use of 5x
Oooo my first rent payment is coming up with Bilt 😅 I’ve put other payments on it though so fingers crossed
How did it go?
@@Javrien it was ezpz ngl. My account got debited day off and my rent portal said paid. I’d call it a success 🙈
@@siddaneja Okay because I'm definitely curious about getting it because I pay rent as well but after seeing some people horror stories I don't want to put a trigger yet
@@Javrien There's always horror stories for cards. I'd suggest keeping a buffer of a couple days if using the online portal and like 1.5 weeks if using their "check" option
@@siddaneja I appreciate it. I'm definitely going to apply for the card and if I do have issues. luckily my rent is due until the 5th of every month
$1000 credit limit and $1800 rent payment??😳😳
The moment you said Wells Fargo I knew it was going to be bad.
😂😂
As soon as the words "Wells Fargo" came out of your mouth, I knew it would be a sad story. WF can't get anything right.
I got approved 10.000 I will try to pay my rent 3.950 next month then I will make my own review
Where can I see your review once you post it.
@@jerryy5568 So far so good I love it
@@jimmyobando938 thanks for reaching back. Imma gonna apply for my own. 🔥🔥
Still loving it? Update please
Do you have to pay back balance in full each month ?
On the credit card, probably not but you always should! For paying your rent, yes you have to pay in full
I divorced Wells Fargo over a year ago, after over 15+ years with them and didn’t even get a “thank you or kiss my A**” from them! When I saw that this card requires a 670-850 credit score and it’s backed by Wells Fargo, I didn’t even consider it! Can’t stand Wells or any of the big banks. However I am going to try Chase again so we will see. But I love my little fintech Bank I e been doing business with since I dumped Wells.
Most fintech banks will die off soon. Major banks are going to be the only survivors after the upcoming economic crash
The last thing I want is to deal with bs por nothing… nothing si free so I’m not singing up for this
Only 1k limit? 🤷🏾♂️
What’s your credit score to only get $1000? If you don’t mind me asking
His income prob low. 1k is starter card level limit.
My credit score is in the 750s :)
Yes exactly, at the time of applying I hadn't started my new job yet and had low income.
I _hate_ WF. This card would be a no-brainer for me if another bank was involved.
It sounds like you was lost in the process and sue to that you blamed it on wells fargo it's your fault you didn't do the trail deposits to verify the account
I never got the trial deposits that’s the thing, nothing ever showed up in my bank
I was interested in the card but the fact that its associated with wells fargo. i am going to steer clear. i hate wf
lmao I've heard this from a lot of ppl
I have been banking with them since 2010 and have had no problems.
I know this is your experience but my man, come on you got 1k limit on a 1.8k rent……what did you expect
You’re supposed to be able to pay over the card limit thru their service, the rent pay isn’t using the card limit
Sounds like you don’t know what you are doing. Don’t need to cancel your card. Just leave it open. Second with your credit limit so low, sounds like you don’t even belong in the game. Why would you even try to link it your checking account it sounds so gimmicky. Probably didnt do things in the proper order. Your credit score is gonna get crushed having an account open only for a month is gonna send your average account age way down. Its gonna show an account that was only open for a month on your credit report for up to 7 years. Good luck getting a decent credit card till that comes off the report.
LMAO, this comment made me laugh. 1, my credit score droped like 3 points, and it was only my Equifax. TransUnion stayed the same. 2, I followed all the steps they provided on how to use the credit card and set up the checking account. 3, I agree, I could've and probably should've just left it open since it's no AF, but I was annoyed in the moment.
I appreciate your comment - thanks for trying to gate keep me from the 'credit cad game' 😂😂
Peace.. Shalom.. Salam.. Namaste 🙏🏻 😊 🌈 ✌ ☮ ❤🕊
Thank you for this . #CANCELBILTWELLSFARGO