Bilt Authorized User Updates
Bilt is making it easier for select members to share their Bilt credit cards with more users—including those as young as 13. This week, Bilt began rolling out new authorized user options to its Close Friends program. Eligible members can now add authorized users ages 13 and older. Spending controls can be personalized within the Bilt app. Next, these new authorized user features will roll out to all Bilt cardholders at a later date. Bilt cards already had authorized user options (see fees and details in our review). But this update aims to give cardholders and families alike more flexibility with spending and earning. Let's take a look at the Bilt authorized user updates.
Who Is Eligible
Right now, the Bilt authorized user updates are currently available only for members in Bilt's Close Friends program. But Bilt says to expect to see this expansion roll out to all Bilt credit card members in the coming months. Authorized users can be added starting at age 13 with customizable user controls. Those settings allow parents and guardians to set spending budgets, spending categories and more. Authorized users 18 and older can also unlock additional features like virtual cards, housing payments through the Bilt app and the ability to earn rewards.
How it Works
Each authorized user receives their own physical Bilt credit card numbers while sharing the primary cardholder's account. Cardholders can set monthly and per-transaction spending limits. They can also choose which merchant categories each card can be used at, pause spending instantly and monitor purchases in real time.
Authorized users 18 and older can also create a virtual card. They can use the Bilt app to pay eligible housing expenses and earn rewards. Rewards earned by adult authorized users can then either be routed to the primary cardholder or to the authorized user. (Rewards earned by teens are automatically credited to the primary accountholder.) Later this year, Bilt also plans to introduce credit-building capabilities for authorized users 18 and older, with reporting for users added as teens beginning once they turn 18.
While credit scores are not reported under the age of 18 either way, this could still be a good way to help younger teens learn about money and personal finances. Read more on getting young adults started in points and miles here. This could also be a lucrative option for you or your authorized user to earn Bilt Rewards on housing payments without requiring them to submit their own credit card application.
How to Setup
Those who are part of Bilt's Close Friends program can manage the Bilt authorized user updates through the following steps:
- Open the Bilt app. Navigate to card settings.
- Select “Authorized Users.”
- Add a new authorized user and their information.
- Set their monthly and per-transaction spending limits. You can also select which merchant categories you'd like their card to work for.
- Read more here.
Bilt Authorized User Updates: ToP Thoughts
Once these Bilt authorized user updates have rolled out to everyone, they should bring some nice expanded flexibility to Bilt credit cards—especially for families. The new controls allow primary cardholders to safely add their kiddos (as well as others who they trust) as authorized users, while still overseeing control of spending and rewards. This could be useful for parents to help youngsters build financial habits. It also opens possibilities to earn on authorized users' rent or housing payments, since AUs ages 18 and older can pay and earn rewards for those expenses via Bilt. Would you use this new Bilt credit card feature? Come over to the Facebook group and let us know.
