A real estate startup wants to help renters become homeowners. Bilt Technologies has teamed with Evolve Bank & Trust and Mastercard to launch a credit card Tuesday that enables cardholders to accumulate reward points they can use toward rent and other bills—or a down payment on a future home.
Many property providers already accept credit cards for rental payments. Paying by credit card also helps renters improve their credit scores, and a good credit score is important when buying a house. “We believe paying rent should build your credit score because it’s your single largest liability,” Bilt founder Ankur Jain told The Wall Street Journal. The new credit card does not have any added fees.