Bilt Rewards points earned on rental payments can be converted into travel rewards with major airlines and hotel chains enabled by Points’ Exchange service
Toronto, ON – June 22, 2021 – Paying your rent could now help you save on your next vacation, thanks to a new partnership between the innovative loyalty program for renters, Bilt Rewards, and the global leader in loyalty commerce, Points (TSX:PTS) (Nasdaq:PCOM).
Unlike other financial transactions such as retail purchases and credit card spend, rent is typically an outlay that consumers cannot accrue any rewards on – despite it often being their biggest financial commitment each month. With Bilt, renters have a way to start earning on this monthly expenditure and use their points towards a wide range of products and services.
One of the key ways that Bilt Rewards customers can redeem points is by using their points for future travel bookings. Members can simply link their Bilt Rewards loyalty account to that of their preferred airline or hotel partner. Travel programs available will include American Airlines AAdvantage®, Air Canada Aeroplan, Emirates Skywards, Air France-KLM Flying Blue, Hawaiian Airlines HawaiianMiles, Virgin Points and World of Hyatt. Members can then seamlessly convert their Bilt Rewards points 1:1 into the miles or points of their program of choice.
Bilt Rewards marks the first-ever rewards program for the housing sector and the $500 billion/year rental market at-large. “Housing is the single largest expense for the vast majority of Americans,” says Bilt CEO and Founder Ankur Jain, “And until today, it has been the only major expense you couldn’t earn points through. Over a renter’s lifetime, that’s thousands upon thousands of dollars that they’ve never been able to earn something back on. With the launch of the new Bilt Rewards program, renters will now be able to travel and take their next dream vacation just by paying their rent.”
Rob MacLean, CEO of Points, also welcomed the news: “We are pleased to be partnering with Bilt Rewards and playing an integral role in this industry-first loyalty program. Our Exchange service provides loyalty programs the ability to add new partners into their reward suite quickly and easily; in turn, increasing currency utility and value for members. We look forward to extending our collaboration as we continue to enhance the Bilt Rewards program with the integration of additional travel loyalty partners.”