Reminder: Bilt’s Rakuten Earning Rates Are Changing After May 15

Updated: May 13, 2026, 12:44pm CDT

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Table of Contents

What’s Changing With Rakuten and Bilt?
Should You Switch Your Payout Preference?
How To Change Your Rakuten Payout Method
Final Thoughts

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Bilt members have had a good run with Rakuten. Since the partnership launched last November, anyone with a Bilt account — credit card or not — has been able to convert Rakuten cash-back into Bilt Points at a 1:1 rate, regardless of status tier.

That introductory rate is about to expire. After the May 15 payout, your conversion rate will depend entirely on your Bilt elite status, and members at the lowest tier will have their earnings cut in half.

If you’ve been routing your Rakuten earnings to Bilt, it’s worth a quick check to make sure you’re still getting the best value after these changes.

What’s Changing With Rakuten and Bilt?

Bilt became a payout option for Rakuten earnings last year. Through the May 15 payout, all Bilt Rewards members earn 1,000 Bilt Points for every $10 in Rakuten cash-back. That’s the same rate American Express Membership Rewards users get when they choose these Amex points as their payout.

Starting after May 15, 2026, the conversion rate will depend on your Bilt status:

Blue members: 50 points per $1 in cash-back (a 50% reduction)
Silver, Gold, and Platinum members: 100 points per $1 in cash-back (no change from today)

A quick reminder on status: Cardholders who earned the Bilt Palladium Card (rates & fees) welcome offer get Bilt Gold status through the end of 2027, so they’re protected from the change.

Hot Tip:

Rakuten pays rewards quarterly, and purchases made today probably may not be included until the August 15 cycle. So if you’re planning to switch payout methods, the currency you earn going forward is largely determined by what you have selected now — not what was active at checkout.

Should You Switch Your Payout Preference?

If you have Silver status or higher, nothing changes. Keep earning Bilt Points and take advantage of strong transfer partners, including World of Hyatt, Alaska Airlines Atmos Rewards, and Virgin Atlantic Flying Club.

If you’re a Blue member, the math becomes harder to justify.

Rakuten continues to offer Amex Membership Rewards at a full 1:1 rate, which means you’ll get twice as many Amex Membership Rewards as Bilt Points on the same shopping trip after May 15. Amex has its own solid lineup of transfer partners — Aeroplan, Delta SkyMiles, and Hilton Honors, among others — so for most travelers, earning Amex Membership Rewards at a 1:1 rate will beat 0.5:1 earnings with Bilt.

If you want to keep earning Bilt points at the full rate, consider earning Bilt Rewards status — earning at least the Silver tier or picking up the Palladium Card for the Gold status perk through 2027. Whether that’s worth it depends on how much you’re spending through Rakuten.

How To Change Your Rakuten Payout Method

To update your payout preference, log in to your account and go to the Rakuten settings page here. From there, you can see what your current payout method is and change it if desired.

Rakuten payout methods — Payout method options other than Bilt. Image Credit: Rakuten

You can change your selection at any time.

Final Thoughts

Even at the reduced rate for Bilt’s Blue members, the Rakuten partnership provides another way to earn Bilt Points without needing a Bilt credit card — and that’s still a win.

However, it still isn’t the best option for everyone. If you have Blue status with no plans to chase a higher tier, switching your Rakuten payout to Amex Membership Rewards is the simpler path to more points going forward. Take a look at your status, check your transfer partner priorities, and adjust accordingly.