Wells Fargo and Bilt Rewards — a fintech startup with a multifamily rental reward system — launched a credit card in 2022. According to a Wall Street Journal article, the partnership is on rocky financial grounds.
But according to what both Wells Fargo and Bilt have told GlobeSt.com, there are serious errors in the Journal's story.
Starting at the beginning of the story, Bilt and Wells Fargo partnered on a credit card with a good points reward system, according to BankRate. The card also earns points on rent payments so long as the consumer uses it enough times during the month. Aside from uses like travel, fitness, and dining, cardholders can also use points toward rent and even an eventual home purchase down payment.
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