Bilt is the only credit card that lets you earn points on rent payments with no processing fee. If you pay $1,800/month in rent, that's $21,600/year in spend earning 1X points = 21,600 Bilt points ($475 in value) from a category that normally earns nothing.
Chase Sapphire Preferred has no rent rewards. If you're a renter paying $1,500+ per month, the Bilt card is almost impossible not to add — even just for the rent earning alone. And since it has no annual fee, there's no cost to holding it alongside CSP.
Chase Sapphire Preferred's 75K point bonus ($1,500 value at 2.05¢/pt) beats Bilt's 50K offer ($1,100). The spend requirement is similar — $4,000 in 3 months for CSP vs $2,000 for Bilt. CSP also has the annual fee waived first year, making year-one effectively free.
Bilt's 50K bonus is elevated (typical is 50K, ATH is 75K) and still excellent for a no-fee card. But if you can only open one card right now, CSP's bonus wins on sheer dollar value.
Both cards have excellent transfer partners. Bilt's surprise advantage: American Airlines AAdvantage (which Chase dropped years ago) and Emirates Skywards. These are two of the best programs for business class redemptions. Bilt also has World of Hyatt — same as Chase.
Chase counters with Southwest and IHG, which Bilt lacks. For most travelers, the overlap is significant enough that neither network is a clear winner. But Bilt's AA access is genuinely unique.
This isn't really an either/or decision. The optimal setup for a renter who travels:
Chase Sapphire Preferred — primary travel card. Earns 3X dining, 2X travel, connects to Chase ecosystem (freedom cards, etc.). Signup bonus is massive.
Bilt Mastercard — earns points on rent, 3X dining (same as CSP, no annual fee). Adds AA and Emirates partners your CSP wallet doesn't have.
Together, these two cards cover nearly every spending category and give you access to 20+ airline and hotel transfer partners. Total annual cost: $95/year.