For years, Bilt has been one of the most talked-about rewards credit cards. It’s made headlines (both good and bad) and nabbed some high-profile partnerships. Yet, it still felt niche. So, in 2026 Bilt expanded with the launch of Bilt 2.0. Alas, that switch came at a cost and, more than anything, caused a lot of confusion.
With that, is the Bilt credit card — or should I say one of Bilt’s credit cards — worth having in 2026? Here’s what you should know.
- Earns up to 1.25x back on housing payments
- Points can be redeemed for up to 1.5 cents each (1.25 cents via travel portal)
- Points can be transferred to travel partners
- Rent Day promotions on the 1st of each month
- Statement credit redemption option value is low
- Bilt Cash has limited uses and many restrictions
- “Up to 1.25x on housing” has different earnings
- Welcome bonus is in Bilt Cash, not points
What is Bilt and What Makes it Unique for a Credit Card?
About Bilt Rewards
The Bilt credit cards are actually a subset of the Bilt Rewards program. Apparently, the Bilt Rewards Alliance is a collection of apartment management companies, allowing tenants on select properties to earn points just for paying their rent. The company has stated many times that this business actually far surpasses its credit cards… but that’s not what most people see.
About Bilt Credit Cards (and Some History)
What was previously called the Bilt Mastercard was launched as a way to let any tenant pay their rent with a credit card and earn rewards. After a beta period where the card was issued by Evolve Bank & Trust, Wells Fargo picked it up. Under Wells Fargo’s wing, the card caught on and continued to grow. But, according to reports, popularity didn’t equal profit, much to Wells Fargo’s frustration.
Bilt and Wells Fargo officially broke up in 2026, with Bilt partnering with Cardless. It was also announced that what was the Bilt Mastercard would become a portfolio of cards at different tiers: the Bilt Blue card, the Bilt Obsidian card, and the Bilt Palladium card. Those three options come with a $0 annual fee, a $95 annual fee, and a $495 annual fee, respectively.
While this review will focus mostly on the Bilt Blue card (since that’s the one I have), I’ll briefly touch on some of the rewards and benefits of the other two cards where applicable.
On the old Bilt Mastercard, customers could not only earn 1x on rent payments with no fee but could also earn multipliers on dining and travel. With the move to Bilt 2.0, however, things have changed.
Starting with the Bilt Blue card, it’s set up is simple: 1x on all purchases. That’s it, unfortunately. Well, actually, there’s a bit more to it than that, but we’ll get to that in the next section.
With the Bilt Obisdian card, you’ll have the choice to earn either 3x on dining or 3x on groceries (capped at $25,000 in spending per year). You’ll also earn 2x on select travel purchases and 1x on all other purchases.
Finally, the Bilt Palladium card’s rewards structure is also fairly simple: 2x on all purchases.
| Card | Annual fee | Everyday earning | Notable benefits |
| Bilt Blue Card | $0 | 1x points on purchases | No foreign transaction fees, $100 Bilt Cash welcome offer |
| Bilt Obsidian Card | $95 | 3x on either dining or grocery purchases, 2x on travel, 1x on everything else | $100 annual Bilt Travel Hotel credit, $200 Bilt Cash welcome offer |
| Bilt Palladium Card | $495 | 2x points on purchases | $400 annual Bilt Travel Hotel credit, $200 annual Bilt Cash, Priority Pass lounge access, $300 Bilt Cash welcome offer + 50,000 points and Gold Status after spending $4,000 on purchases (excluding rent or mortgage) in your first 90 days |
So then why did I say that Bilt’s cards were confusing? Well, it doesn’t end there.
Bilt Cash
In addition to earning Bilt Points on all purchases, all three Bilt cards earn a currency cleverly named Bilt Cash. If you opt-into earning Bilt Cash (more on that in a moment), you’ll get 4% back on each purchase you make. You’ll notice that all three cards also currently offer welcome bonuses that include sums of Bilt Cash.
Despite the “cash” in the name, this currency cannot simply be used for anything. Instead, there are some specific restrictions and options you’ll have. For example, one Bilt Card redemption option is a Lyft credit. However, this is capped at just $10 a month.
The other issue with Bilt Cash is that it expires at the end of the calendar year — although Bilt will allow you to rollover up to $100 into the next year. That means that, depending on how much you’re accruing, you’ll need to be strategic about how you redeem it along the way, lest you let it disappear.
Another redemption option you’ll have for your Bilt Cash is to use it to cover transaction fees on housing payments. The fee for domestic payments is 3%, but you can use Bilt Cash for this instead of, well, real cash. So, if your payment is $1,500, you could use $45 Bilt Cash to avoid the fee and still earn 1x rewards.
Here’s a list of some of the ways you can currently use Bilt Cash, along with the cap for each
- Up to $10 a month toward Grubhub delivery
- Up to $5 a month in credits for Bilt 15-minute home delivery
- Up to $25 a month in restaurant credit at select Bilt Dining partners
- Up to $50 per month toward dining experience bookings
- Up to $1,200 hotel credit / year ( two-night minimum; up to $50/month for Blue & Silver members and up to $100/month for Gold & Platinum members)/
- Up to $10 per month for Lyft rideshare
- Up to $10 per month for Walgreens
- Up to $10 per month for Bilt Design Collection
- Up to $700 per year of BLADE credit (up to $350 per seat booking)
- Unlock higher transfer bonuses
Paying and Earning on Housing Payments
One of the biggest changes that came with Bilt 2.0 is that you can now earn points for both rent and mortgage payments. This can be done by setting up your payments in the Bilt app or site. Admittedly, though, I have yet to actually make a mortgage payment through Bilt. Also, another change to note is that, rather than keeping your rent/mortgage payments on your credit card balance until your statement due date, housing payments will now be paid off via a linked bank account within 24 hours — so no more “floating” your rent.
As for those rewards, when you look up the Bilt credit cards, you’ll notice that it says you can earn up to 1.25x points on your rent/mortgage payments. And yes, I just mentioned earning 1x rewards in the previous section. So which is it?
Well, you have a choice to make. The first option is to earn 4% Bilt Cash on all purchases, have the ability to use said Bilt Cash to cover transaction fees, and then earn 1x on housing payments (regardless of how much other spend you put on the card).
Alternatively, you can opt to earn no Bilt Cash, make housing payments without a transaction fee, and then earn rewards based on how much you spend on the card. Here’s how that works:
| Point Earning Rate on Housing Payments | Everyday Spending Amount |
| 0.5x Points | At least 25% of housing payment amount |
| 0.75x Points | At least 50% of housing payment amount |
| 1x Points | At least 75% of housing payment amount |
| 1.25x Points | 100%+ of housing payment amount |
For example, if your housing payment was $1,500, you’d earn 1,500 points for your housing payment after spending $1,125 in other purchases during the month. But, if you only spent $500, you’d earn 750 points for your housing payment.
Which option is best for you will depend heavily on your situation, including:
- How much non-housing spend you plan on putting on the card
- How much you value Bilt Cash
- How much your housing payment is
- Etc.
The good news is that you can swap between these two options as often as monthly. That gives you a chance to try both out and see which ultimately rewards you most.
Bonuses
Previously, the Bilt Mastercard had no official welcome bonus. Currently, though, new Bilt credit card customers can earn bonuses in the form of Bilt Cash. Even better, these bonuses come with no minimum spending requirement.
The Bilt Palladium card also has a more traditional welcome offer on top of the Bilt Cash. At this time, new cardholders can earn 50,000 points and earn Bilt Gold Status after spending $4,000 on the card (excluding housing payments) within the first 90 days.
Bilt Rewards Status
Speaking of status, part of the Bilt Rewards program involves different status tiers. Everyone starts at the Blue tier but those who earn 50,000 points or spend $10,000 on their card in a year can earn Silver status; those who rack up 125,000 points or spend $25,000 in a year gain Gold; and those who amass 200,000 points or spend $50,000 can move up to Platinum.
At each level, more perks come in — including gaining larger transfer bonuses on select Rent Days, and more. That may be the biggest benefit to having status, as those transfer bonuses can be pretty lucrative. For example, while Blue members may see a 25% bonus, Silver may get 50%, and Gold might get 75%, while Platinum earns 100%.
On that note, bringing it back to Bilt Cash, Bilt has stated that you can use Bilt Cash to temporarily upgrade your status in order to get a higher transfer bonus. The price of these upgrades varies, but keep an eye out for a good one.
Rakuten
Rounding out this section, let’s talk about Rakuten. One big development is that customers can now choose to transfer their earned Rakuten cashback into Bilt Points. However, unlike Rakuten’s Amex Membership Rewards option, this process works a bit differently (and, of course, is also more confusing).
When you opt to earn Bilt Points, you’ll actually keep earning cashback until it’s time for your payout. Then, your cashback will be converted to points — although the ratio will depend on your status. If you only have Bilt Blue, you’ll get just half a Bilt Point for every cent in cashback. Those with Silver status or higher can get the full 1:1 (1 cent to 1 Bilt Point) rate. For that reason, if you don’t have Bilt status, I’d recommend staying away from this option.
Redemption Options with the Bilt Mastercard
Transfer Partners
One major way that Bilt credit card customers can utilize their earned points is to transfer them to a growing list of travel partner brands. These include a number of airlines along with a couple of hotel chains. Here’s the current line-up as of August 2026:
- Japan Airlines
- British Airways
- Aer Lingus
- Iberia
- Etihad
- Avianca
- Qatar
- Southwest Airlines
- TAP Air Portugal
- Alaska Airlines/Hawaiian Airlines
- United Airlines
- Turkish Airlines
- Emirates
- Air France/KLM
- Air Canada
- Virgin Atlantic
- Hilton
- Accor
- Marriott
- I Prefer
- Virgin Red
- Hyatt
- IHG
- Wyndham
Most of these transfer options are available at a rate of 1:1. So, if you have 15,000 Bilt Rewards points, you could turn them into 15,000 points with nearly any of the above-mentioned loyalty programs. The noted exceptions here are Accor Live Limitless, which transfers points at a rate of 3:2 (so 3,000 Bilt Points transfer to 2,000 ALL points) and I Prefer Hotel Rewards’s 1:2 ratio (1,000 Bilt Points into 2,000 I Prefer Points).
To begin the transfer process, you’ll first need to link your loyalty account using the Bilt app. Oddly, this functionality is not available on the site. In the event you don’t already have an account, you can also create one. Once an account is linked, you can select how many points you’d like to transfer.
On that note, as a Blue member, you’ll only be able to transfer points in denominations of 2,000 points. However, if you reach Silver or higher, you’ll be able to do denominations of 1,000 points instead, offering greater flexibility.
Rent Payments or Statement Credits
With a card that earns points for rent payments, it only makes sense that you could redeem earned points toward rent payments. Sure enough, that is a feature of the Bilt Mastercard. Sadly, though, it’s kind of a rip-off. My rough math has prevented me from landing on exactly what the exchange rate for this one is — but it’s not very good, coming in at 0.55¢ per point. More recently, Bilt expanded this feature to allow customers to apply points for generic statement credits as well, but this comes at the same 0.55¢ rate.
Travel Portal
If you’re not yet ready to navigate the world of travel transfer partners, booking via the Bilt Travel portal can be a good way to get decent value in a straightforward manner. When you use points to book on the platform, they’ll be valued at 1.25¢ each.
Like with any third-party travel portal, you may want to compare prices before going ahead with a booking. But, in terms of value, this is a pretty solid option.
Bilt Collection
In the BIlt app, customers can browse a number of items that are part of the Bilt Collection. From home goods to artwork, there are some unique and interesting items available, with each bearing a set number of points you’ll need to redeem in order to claim it.
Since Collection items have their own prices, it’s hard to say what the actual per-point value is with this option. But, if you see something nice and determine it’s worth it to you, who am I to say it’s a bad idea?
Amazon and Lyft
Like a few other cards on the market, Bilt Mastercard customers can link their account to Amazon and redeem their points at checkout. Sounds cool, right? Well, the downside here is that the points redeemed on Amazon are only valued at 0.7¢ each. While convenient, this option isn’t a very good value, so I’d stay away if possible.
Similarly, you can now use points on Lyft. But, again, this is only 0.7¢ per point, so it’s not recommended.
Home Down Payments
One of the redemption options touted by Bilt from the beginning was the ability to redeem points toward a down payment on a house. At the time, the details on this were pretty opaque — to the point that I wasn’t initially even sure what the value was for this option.
Since then, however, I’ve actually had a chance to try this out for myself. Incidentally, this also happens to be one of the best values for your Bilt Points, as you’ll earn 1.5¢ each when using them toward a down payment or closing costs. The process was also pretty simple, with my reimbursement coming within days.
Gift Cards
Bilt now allows members to redeem points for gift cards to various merchants. Some examples include Starbucks, Apple, Walmart, Adidas, Uber (ironic given the Lyft partnership), and many more.
Once again, this option values points at around 0.7¢ each. Thus, unless there’s a bonus, it’s probably not worth it.
Student Loan Payments
The newest redemption option for Bilt is not only unique but offers a decent value. Now, members can redeem points toward student loan payments, with each point valued at 1¢. So, 10,000 Bilt Points could be a $100 loan payment.
At this time, only a few select loan servicers are eligible for this option:
- Nelnet
- MOHELA
- Sallie Mae
- Aidvantage
- Navient
However, Bilt says it intends to support more servicers in the future.
My Thoughts on Bilt So Far – Pros and Cons
Pro: No Annual Fee Option
This one’s simple: with the Bilt Blue card, there’s no annual fee to worry about. Even if this may not be the best option for everyone, it is the easiest to recommend for that reason.
Con: Confusion
We’re just going to start with the biggest con, which is that the current Bilt system just has so much going on. There are multiple currencies, multiple earning options, multiple cards with multiple credits that have multiple restrictions to consider — it’s a lot! At this point, it feels as though you have to be a super enthusiast to even want to approach the card.
Pro: Earning on Housing Payments
For as complicated as I think the Bilt cards are these days, I suppose they don’t have to be. If you really just wanted to earn on your housing payments, and are willing to put some other spend on it, then maybe the no Bilt Cash option makes sense for you.
Plus, at the end of the day, earning rewards on what is probably your biggest spending category is pretty cool. And, with Bilt 2.0, homeowners get to be part of the party.
Con: Bad Redemption Rates on Some Options
Outside of the travel portal and transfer partner options, Bilt’s redemption rates are definitely lacking. Redeeming points for future rent payments would seem like a no-brainer for the card, but, by cutting the rate to 0.55¢ per point, there’s no way I can recommend that — especially when the travel option literally more than doubles the value. Meanwhile, the Bilt Collection has some interesting options, although it’s hard to say whether the value of these items is actually any good.
If I could make only one change to the Bilt card, I think I’d have to go with “introduce a 1¢ per point cashback option.” Honestly, I didn’t even realize this wasn’t a thing before applying. So, learn from my mistake and think this one through if travel isn’t your thing.
Pro: 1.25¢ Per Point with Travel Portal
Similar to the Chase Sapphire Preferred, the Bilt Mastercard gives cardholders the option of increasing their point value by redeeming via a travel portal. In turn, those who use this redemption option exclusively can effectively earn 1.25% back on rent payments, 2.5% back on some travel purchases, and 3.75% back on dining. That’s pretty darn strong for a no annual fee option.
Con: Best Bonuses Now Reserved for Top-Tier Status
When Rent Day first launched, it offered some truly awesome transfer bonuses. Sadly, those crazy-good deals are now only for those with the highest Bilt status. While I understand the need for this, it doesn’t make it any less disappointing. Of course, if you can achieve top-tier status, then this is just another great perk of the card.
Final Thoughts on the Bilt Credit Cards
When I stopped renting, I was a bit bummed to know that my Bilt Mastercard wasn’t going to be as useful to me anymore. So, when Bilt 2.0 was first teased, I was ecstatic about the idea of earning rewards on my mortgage. Unfortunately, once we got the full details of the new Bilt cards, my enthusiasm quickly waned.
At their core, I do still think that the Bilt credit cards make sense for those who are able to use the card to earn rewards on housing payments. Moreover, as before, the benefits of the card skew toward those who live in larger cities. Also, Bilt continues to have one of the best transfer partner line-ups — and the Rent Day transfer bonuses can be impressive (especially for those with status).
On the other hand, though, you have to work really hard to not only comprehend the Bilt 2.0 product but get the most from it. If you’re willing to do that, you could see huge upside. But, for someone like me, it’s just too much of a hassle.
Frequently Asked Questions About Bilt Rewards
Is Bilt Rewards legit?
Yes, Bilt is a company that partners with a number of property management companies. Additionally, Wells Fargo, Mastercard, and Blackstone are all among the major companies that have also invested in Bilt.
What is Bilt Rewards?
Bilt Rewards is a loyalty program that allows residents at Bilt Alliance properties to earn points when they pay their rent. Additionally, those outside Bilt Alliance properties can earn rewards — including 1% on rent — with the Bilt Mastercard.
Is Bilt Rewards worth it?
For renters, the Bilt Rewards program can be beneficial as it allows them to redeem rewards for travel, future rent payments, or even a down payment on a house. As for the Bilt credit cards, those who don’t live at Bilt Alliance properties may find value in their card’s ability to earn them rewards on rent or even mortgage payments.
How much are Bilt points worth?
The value of Bilt points depends on how they’re redeemed. Points can be transferred to travel partners at a 1:1 rate, redeemed via Bilt Travel for 1.25¢ each, used for rent payments at a value of 0.55¢ each, or cashed in toward a home down payment for a value of 1.5¢ each.
How do I use Bilt points to pay rent?
Bilt customers can log into their account and select the Pay Rent tab. There, they can toggle on the “Pay with points” option. Note that these redemptions currently value Bilt points at 0.55¢ each.
