Fun Fact: Sam Walton was the guy who created Walmart, and he had this very sneaky marking strategy. He would give an item like a TV, Panties or toothpaste, this insane discount where he barely made any money. When people would come looking for the items and bought them all up, they would still buy other stuff and the new people coming in also would buy more stuff. It was a great way to make a lot of money. ( by baiting people with one thing, and then they buying other stuff )

And on that Note, today we are talking about the Bilt Rewards Credit card, a credit card build for renters, to help you earn rewards on your rent payments for free.

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1. Now Lets talk about the Panties, tooth paste and Tv ( aka the bait to get you in the door)
– A: Get points by payment your rent ( and no transaction fee of 3%) and use those points for travel and whatever other rewards they offer – even towards your next rent payment
– The truth ( Plastiq is a service that lets you pay your rent but it does charge you a fee )

B: Landlord doesn’t accept plastic, they’ll mail them a check ( free of charge to you )

C: Only one rent payment per month ( to avoid going into crazy debt )
– So you have to pay in full each month

D: Bonus Point for resigning your lease and new apartment ( how? Because they work with a network of 2Million apartment and they probably negotiated a deal on it)

E: High Risk People can still use the Credit card but it will function like a debit card ( and immediately pull out the rent from their checking balance)

F: Build in feature to help people build credit through rent payment for free ( this already exist and its called receipts )

2. What do they Get from you

How does this Company win:
– Transaction fee when you use it in other places
– Potentential for loans like cars in the future

Other Competition:
– Esusu ( reports rent payments to credit also )
– MoCaFi ( report rent payments to credit also)
– LevelCredit but this cost $7 per month ( for a fee the same thing)
– Plastiq ( to pay anything with a credit card for a fee)

What else it Offers:
– Software to help you understand how much you can afford
– Help build credit to lower interest rates
– Apply points towards down payments
– They Connect you with other banks ( like them being a broker- I bet that’s an income stream also )

3. Potential
– What it sounds like but its not
– $1300 in a rent per month ( that’s $15,600 per year )
– Lets say you earn 2% on that per Year that’s $312

Caps:
– Up to 4000 points per month for those people with rents
– Tier cap ( slimy )
– They do a hard pull

Honestly:
– If you are the average Joe and just get 250 for your rent

Benefits:
– Discounts with Lyft and Doordash
– 24/7 concierge Service like a personal assistant
– Purchase protection up to 90 days on 1000
– $1000 per year on a lost or damage phone

4. My Opinion:
– It sounds like a long term investment on renter that will eventually become buys
– And a great opportunity make money by building these networks and deals with large apartment companies
– You’ll only earn point within the network which has 2Million apartment ( points on paying, renewing lease and acquiring the apartment ) – reward alliance
– But the credit card lets you earn money on any apartment and it has no annual fee ( because most likely people will go into debt from other uses and result in interest income ) – Bilt mastercard
– In the end this would probably become a standard proactive

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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