Bilt and Rakuten have officially launched a new partnership that lets shoppers earn Bilt points instead of Cash Back when shopping online. The collaboration, which had been rumored for the last month, is now live.
Starting today, Thursday, Nov. 6, Rakuten users can now link their Bilt and Rakuten accounts to opt into earning Bilt points when shopping through Rakuten’s online portal, browser extension, or app. To link your Rakuten and Bilt accounts, head to the Bilt app. Your email address and phone number must match on both accounts for them to be properly linked.
For the first six months, every $1 in Rakuten Cash Back converts into 100 Bilt points, which can be redeemed toward rent payments, fitness classes, future travel, or transferred to one of Bilt’s 20-plus airline and hotel partners. But after that, the value of your cash back depends on your Bilt status.
Blue-tier members – the program’s base level – will see their rate cut in half to just 50 Bilt points per $1 in Rakuten Cash Back. Only Silver, Gold, and Platinum members will continue to earn at the full 1:1 ratio in the long term (subject to change).
That’s an important distinction: After the introductory period, most casual Bilt users won’t get as much bang for their buck unless they’ve leveled up in the program. Still, this new partnership gives Bilt loyalists another way to grow their balances.
“Starting right now, whether you're furnishing your apartment, shopping for the holidays, or checking items off your weekly to-do list, you're earning points that can book you a flight to Tokyo or help cover next month’s rent,” said Ankur Jain, Bilt’s founder and CEO.
“This collaboration brings together two of the most innovative rewards programs to expand what it means to be rewarded,” added Amit Patel, CEO of Rakuten Rewards.
Bilt members who sign up for Rakuten through the Bilt app will also earn a 2,500-point welcome bonus after their first $25 purchase. Points post quarterly, following Rakuten’s standard payout schedule.
While that's a great offer, you can do even better by signing up through a personal referral link. Rakuten is currently offering a $50 bonus to new members who sign up and make their first purchase of $50 or more. That's right: Sign up, spend $50, and get at least $50 straight back.
Until now, Rakuten users could choose between earning Cash Back or American Express Membership Rewards® points – and that option isn’t going anywhere. For many travelers, Amex points will still offer better long-term value and flexibility, thanks to a strong list of transfer partners, frequent transfer bonuses, and a 1:1 transfer ratio from Rakuten.
This launch is also the latest in a series of moves expanding Bilt’s ecosystem far beyond rent payments, following new initiatives such as Bilt Dining, Bilt Cash, and the announcement of new Bilt credit cards and points-earning on mortgages coming early next year.
Don't have a Bilt account? You can sign up and create one for free.
Bottom Line
The rumored Bilt and Rakuten partnership is now official. It’s a creative new way to earn Bilt points on your everyday shopping – but after the six-month promo ends, the math only really works if you’ve got Bilt status.
For everyone else, sticking with Amex Membership Rewards or Cash Back will likely be the smarter play.
