Bilt Overhauls Credit Card Lineup: Unlimited Earnings but With Some Caveats

We’ve known for a while that Bilt Rewards would launch 3 new credit cards and move away from Wells Fargo to issue its cards through Cardless. Now, we have the details.

On February 7, the Bilt Blue Card (rates & fees), Bilt Obsidian Card (rates & fees), and Bilt Palladium Card (rates & fees) will launch. This will be the first time Bilt Rewards has offered more than 1 card. This new range of cards represents a seismic shift from the Bilt Mastercard.

Additionally, Bilt’s new era emphasizes the importance of Bilt Cash, as you’ll see later in this post, which you can use in your neighborhood or to avoid the 3% transaction fee (rates & fees) on rent payments while earning points.

For those who regularly spend on their Bilt credit card, the rewards can be lucrative. For those who don’t, you’re not likely to fare better with the new cards than you did with the Wells Fargo-issued Bilt Card.

Here’s a closer look at these upcoming cards — the Bilt Card 2.0 project — which are now available for preorder for both existing cardholders and new applicants.

Coming Soon: A New Range of Bilt Credit Cards

Bilt Rewards will launch 3 new credit cards on February 7, 2026, coinciding with the move from Wells Fargo to Cardless as the issuing bank. Along with details of the new cards, we’ve learned more about the launch timeline for “Bilt Card 2.0,” including the following elements:

• Applications for the new cards will be available starting February 7, 2026.
• Current cardholders who choose to transition from Wells Fargo to Cardless will have their new cards “turned on” on February 7, 2026.
• Bilt aims for the transition to be as seamless as possible, so you can expect automatic updates to your mobile wallet and to retain your same card number.
• Not getting a new Bilt card is an option. If you choose to do so, you’ll stay with Wells Fargo and will be issued a Wells Fargo Autograph℠ Card.
• Between January 14 and 30, 2026, existing cardholders can choose which of the 3 new Bilt credit cards they want to transition to. There will be no hard inquiry on their credit report for this.
• New cards will arrive before February 6, allowing cardholders to start using the new cards as soon as the changeover happens on February 7.
• Existing cardholders can choose to keep their Wells Fargo account open while transitioning to a new Bilt card, meaning they’ll have a Bilt Card and a Wells Fargo Autograph card.

Despite all the changes, some things will remain the same. There are no changes to Bilt Rewards elite status. How it’s earned, the benefits, and ways for using points will not change.

Bilt’s 3 New Credit Cards — The Details

Bilt’s new portfolio has cards with annual fees that feel familiar: $0 (rates & fees), $95 (rates & fees), and $495 (rates & fees). And the good news is that you can still earn points on rent or mortgage payments without any administrative fees — a founding principle for Bilt Rewards.

However, nearly everything else is changing. The new credit cards rely heavily on Bilt Cash, a new currency replacing Milestone Rewards. While the earning rates appear attractive, having points and Bilt Cash to contend with may be confusing to some. Moreover, bonus categories on the cards are largely gone, instead offering Bilt Cash in lieu of Bilt’s transferable points.

The most significant positive change is that Bilt Rewards members will be able to earn unlimited points on rent and mortgage payments — including payments on more than 1 property. Even better, Bilt says that your housing payments will come from a separate credit line than your everyday purchases. This means your card won’t be maxed out after a big mortgage payment, and you’ll still have your typical credit line available for daily spending.

The biggest downside, on the other hand, is that you’ll need to constantly engage with Bilt Rewards and spend regularly on its credit cards to tap into these earnings.

You’ll need to earn Bilt Cash and use it to unlock the ability to earn on rent and mortgage payments. Redeeming $3 of Bilt Cash unlocks 100 points on housing payments. Additionally, you can redeem Bilt Cash dollar-for-dollar on other options, including merchandise, Walgreens prescriptions, and more.

Bilt Cash will expire each year on December 31, and you can roll over a maximum of $100 of Bilt Cash into the next year. There are no minimum redemptions for Bilt Cash.

Bottom Line:

You can earn unlimited points on rent and mortgage payments. However, to earn 1x points on a $2,000 mortgage payment, you’ll need to redeem $60 of Bilt Cash to unlock that earning ability — or pay a 3% transaction fee to make the points earning possible. We’ll discuss earning Bilt Cash below.

Bilt Palladium Card

As the premium card in the lineup, the Bilt Palladium Card has an annual fee of $495 (rates & fees). Rather than complex credits or earning categories, Bilt aimed for simplicity on its premium card. That may be a breath of fresh air for those used to monthly and quarterly credits, but those who want bonus categories for extra points earning won’t find those here.

Instead, cardholders will earn at the following rates:

• Unlimited 1x points on rent and mortgage payments
• Earn 2x points plus 4% back in Bilt Cash on everyday spending

Cardholders will also enjoy the following perks:

• Up to $400 in Bilt Travel credits toward hotel bookings, available as up to $200 in each half of the year (using this requires a minimum 2-night stay)
• $200 in Bilt Cash deposited into your account annually (enough to unlock $6,666.67 worth of housing payments at 1x earnings while avoiding the 3% transaction fee)
• Priority Pass lounge membership, including access for you and up to 2 guests (but Priority Pass restaurants aren’t included)
• World Legend Mastercard benefits
• No foreign transaction fees (rates & fees)
• $95 annual fee for authorized users (rates & fees) (and these users get their own Priority Pass membership)

The Bilt Palladium Card will launch with the following welcome offer: Earn 50,000 points after spending $4,000 on non-housing expenses in the first 3 months + Gold elite status. And, $300 Bilt Cash when you apply and get approved.

Additionally, cardholders receive automatic Bilt Rewards Gold elite status for a year after approval for the Bilt Palladium Card, and new cardholders get $300 in Bilt Cash after approval for the card.

Both new applicants and transitioning cardholders are eligible for welcome offers on this and the other Bilt credit cards.

Hot Tip:

We value Bilt Rewards points at 2 cents each. That makes the 50,000-point welcome offer worth $1,000 — and that’s without accounting for the Gold status benefits or the $300 in Bilt Cash.

Bilt Obsidian Card

The Bilt Obsidian Card is the midtier option with a $95 annual fee (rates & fees). Cardholders will find bonus earning categories and an easy-to-use credit.

The Bilt Obsidian Card earns at these rates:

• Unlimited 1x points on rent and mortgage payments
• 3x points plus 4% back in Bilt Cash on your choice of dining or grocery spending (up to $25,000 of purchases per year, then 1x earnings), changeable each year in January
• 2x points plus 4% back in Bilt Cash on travel spending
• 1x point plus 4% back in Bilt Cash on everyday spending

Cardholders will enjoy these benefits:

• Up to $100 in Bilt Travel credits toward hotel bookings, available as up to $50 in each half of the year (using this requires a minimum 2-night stay)
• World Elite Mastercard benefits
• No foreign transaction fees (rates & fees)
• $50 annual fee for authorized users (rates & fees)

The Bilt Obsidan card will launch with the following welcome offer: Earn $200 in Bilt Cash when you apply and are approved. That’s enough to unlock $6,666.67 worth of housing payments at 1x earnings while avoiding the 3% transaction fee.

Bilt Blue Card

The Bilt Blue Card is the introductory card in the lineup and doesn’t charge an annual fee. This card has few perks but still offers Bilt’s founding principle: earning points on rent without transaction fees (rates & fees).

Cardholders earn the following rewards:

• Unlimited 1x points on rent and mortgage payments
• 1x points plus 4% back in Bilt Cash on everyday spending

Perks on this card are light, but they include the following:

• World Elite Mastercard benefits
• No foreign transaction fees (rates & fees)
• $0 annual fee for authorized users (rates & fees)

The Bilt Blue Card has the following welcome offer: $100 of Bilt Cash when you apply and get approved. That’s enough to unlock $3,333.34 worth of housing payments at 1x earnings while avoiding the 3% transaction fee (rates & fees).

Hot Tip:

Presently, you can only have 1 Bilt credit card in your name, so you’ll need to choose which option you like most. However, you can be an authorized user on someone else’s card of a different type.

Limited-Time Option Mirror Card

For a limited time, Bilt will offer cards with a mirrored finish. These will even come with a cleaning cloth featuring the Bilt logo.

How Much Bilt Cash Do You Need?

With the importance of Bilt Cash, you’re probably wondering how much Bilt Cash you need to unlock points earning on your rent or mortgage — to earn 1x without paying a 3% transaction fee (rates & fees). Remember that you earn 4% back as Bilt Cash when using your credit card for non-housing spend.

Here are a few examples:

To be clear, Bilt Cash cannot be used to cover the transaction fee for using a non-Bilt credit card to pay your rent or mortgage.

Hot Tip:

The magic number is 75%. Use your Bilt credit card for non-housing purchases that total at least 75% of your housing payment, and you’ll have enough Bilt Cash to unlock full 1x points earning on your rent or mortgage payments without having to pay the 3% fee (rates & fees).

What To Make of the New Bilt Credit Cards

Earning a mix of points and Bilt Cash is interesting, as it allows Bilt to reward its members while also controlling the economic environment. It’s similar to the way a department store’s credit card might offer a high return in “in-store rewards,” because you have to return to the store to redeem these.

Let’s remember that $2,000 housing payment discussed above, which requires $60 of Bilt Cash to unlock 1x points earning on the full payment. Earning $60 of Bilt Cash requires $1,500 of spending on your credit card — and that spending must be non-housing spending — with the 4% earning rate. If you don’t have enough Bilt Cash to unlock the full points capacity, you’ll only earn points on part of your rent or mortgage payment.

For those who want to earn a ton of points, bonus categories for doing so are largely gone. Instead, earning points will come from everyday spending, earning Bilt Cash from it, and then redeeming Bilt Cash to unlock earnings on housing payments. That may feel too complex for some people. However, it allows Bilt to reward those who regularly use its credit cards (and otherwise engage with the platform).

We also should mention again that new applicants and existing cardholders who transition to the new Bilt cards are eligible for the welcome offers. That’s a customer-friendly move.

Bottom Line:

Those who don’t regularly use their Bilt credit card should expect their future earnings to be lower than what they have earned in the past.

When Will the New Bilt Cards Be Available?

The 3 new cards — Blit Blue Card, Bilt Obsidian Card, and Bilt Palladium Card — will go live on February 7, 2026. Applications for the cards will go live at Bilt.com/card on that date. Presently, we don’t know the exact time.

February 7 is also the date when cards will be activated for existing cardholders who choose to switch to a new Bilt credit card with Cardless.

Hot Tip:

Bilt says it won’t be possible to upgrade or downgrade between cards within the first year from launch. However, this option may come in the future.

Final Thoughts

Hype and rumors have swirled for months, and now we finally know the truth about the so-called Bilt Card 2.0 — the program’s new credit card offerings.

On February 7, the Bilt Blue Card, Bilt Obsidian Card, and Bilt Palladium Card will go live, offering varying annual fees and benefits while also allowing cardholders to earn points and Bilt Cash along the way. Bilt Cash has become a cornerstone on all 3 cards, earning 4% back on daily spending, but is completely fundamental to your ability to earn points on rent and mortgage payments — which are now uncapped, assuming you earn enough Bilt Cash.

For those who regularly spend on their credit cards, the new setup appears quite rewarding. For those who don’t, the new cards may offer fewer rewards than what you earned in the past; that’s likely intentional, rewarding regular spenders while not offering much for those who don’t regularly engage with Bilt.