Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Promotional banner of the new partnership between Bilt and Lyft
Link your Bilt and Lyft accounts to earn up to 5x points on Lyft purchases.

  • Bilt Rewards is a valuable travel currency that transfers to 14 airline and hotel partners.
  • Lyft and Bilt have a new partnership that allows you to earn Bilt points whenever you make a Lyft purchase.
  • All Bilt Rewards members are eligible, but Bilt Mastercard® - Product Name Only holders earn the most points.
  • Read Insider's guide to the best credit cards for Uber and Lyft.

There is currently no rewards program with more momentum than Bilt Rewards. It's continually publishing fun promotions (like Bilt Rent Day), adding transfer programs (like British Airways), and inking partnerships that make it easier to earn and use rewards (like the Point.me features added to the Bilt app).

Bilt has just secured another partnership that means a huge points-earning opportunity for those who rideshare — so huge, in fact, that staunch Uber customers who are interested in free airfare and hotel stays might be persuaded to switch their business to Lyft.

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Earn Bilt points on Lyft purchases

Bilt Rewards is a program that allows you to earn points for paying rent with a credit card without harsh service charges. It also offers the Bilt Mastercard® - Product Name Only, which opens up the ability to earn Bilt Rewards points for expenses other than just rent.

When making purchases through the Lyft app, Bilt members can now earn the following:

  • 2 Bilt points per dollar
  • 5 points per dollar when using the Bilt Mastercard® - Product Name Only as your payment method

This is a big add for Bilt, as it makes its points currency even easier to earn.

To do this, you'll need to link your Bilt and Lyft accounts via the Bilt Rewards app. You also must set Bilt as the active loyalty rewards partner.

Lyft already partners with Delta — but you'll earn just 1 Delta mile per dollar spent with Lyft, so switching to Bilt Rewards is a no-brainer, unless you value Delta miles significantly higher than Bilt Rewards points. Insider's points and miles valuations peg Delta miles value at 1.1 cents each, while Bilt points are worth 1.65 cents each on average. That means you'll get an effective return of up to 8.25% on Lyft purchases when choosing to earn Bilt Rewards.

This new partnership also makes the Bilt Mastercard® - Product Name Only one of the best no-annual-fee credit cards for Lyft purchases. As a comparison, here are other annual fee-incurring cards that offer bonus points with Lyft:

Bilt doesn't have the largest quantity of partners among transferable rewards currencies, but it does have what is widely considered to be the most useful collection. You can transfer Bilt points to airline and hotel partners such as American Airlines, Turkish Airlines, Hyatt, and more.

In other words, Lyft purchases will, by proxy, earn you 5 Hyatt points per dollar, 5 American Airlines miles per dollar, etc.

What you need to know about Bilt's partnership with Lyft

You can now earn up to 5 Bilt Rewards points per dollar when making purchases through the Lyft app. After linking your loyalty accounts, Bilt Rewards members will earn 2 points per dollar, and those with the Bilt Mastercard® - Product Name Only will earn 5 points per dollar.

This is the big deal for one simple reason: Bilt Rewards are some of the most valuable travel points you can collect — and there aren't many ways to earn them.

Read the original article on Business Insider