Your Rent Payments Could Help You Pay Down Your Student Loans With This Credit Card's New Feature

If you pay your rent using a Bilt credit card, the rewards you earn can now help you help pay down your student loan debt. The credit card issuer announced Wednesday that you can redeem Bilt points toward eligible student loans.

"With this feature, members can use points earned from paying rent to help reduce their student loan balances," Bilt said in its announcement. 

You can earn one reward point per $1 spent paying rent with your card through the Bilt App or website, up to a maximum of 100,000 points each calendar year, according to Bilt's rewards terms. The redemption rate is 1 cent per Bilt point.

So if your rent is $2,000 each month, you can earn 2,000 points and redeem them for $20 toward your student loan balance. Every little bit helps, but the rewards aren't worth it if you don't ...