Wells Fargo to Give Apartment Dwellers Rewards for Rent Payments

Wells Fargo & Co. will start letting customers earn points and miles on their rent payments as the banking giant deepens its push into credit cards.

The San Francisco-based lender is partnered with Bilt Rewards on a new card that will operate on Mastercard Inc.’s network, the companies said in a statement Monday. Bilt was created last year and already works with some of the country’s largest property owners and managers, including AvalonBay Communities Inc., Blackstone Inc. and Cushman & Wakefield Plc. Rather than drawing down from a customer’s credit line, rent payments using the card will ...