The new Wells Fargo credit card program, launched in partnership with Bilt Technologies in 2022, allows cardholders to pay rent without incurring fees and earn reward points. However, the program is reportedly losing the bank up to $10 million a month as cardholders are not carrying balances to generate interest. Despite attracting over a million new customers, mostly young renters, the expected profits have not materialized as anticipated. Wells Fargo remains optimistic about the long-term potential of the initiative, emphasizing the value of reaching new, credit-worthy customers. The innovative feature of paying rent with a credit card, while avoiding fees, has not translated into the anticipated revenue for the bank. However, both partners remain committed to the venture in the hopes of attracting future homeowners and establishing a long-term investment in the market.