Wells Fargo may have underestimated just how savvy millennial credit card holders can be

• Bilt Rewards, a Wells Fargo co-branded credit card, allows people to earn rewards by paying rent.
• Bilt's core demographic are high-earning young professionals.
• The company may have miscalculated how its customer base would use its card. 

Wells Fargo may have underestimated just how savvy young professionals could be with a credit card that rewards renters.

In 2022, Wells Fargo, the San Francisco-based bank, partnered with Bilt Technologies, a fintech startup, to offer a rewards program that incentivizes customers to pay rent with a credit card.