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It’s been a long time coming, but the day Bilt finally goes tell-all on the new details surrounding its Cardless credit card portfolio and the transition process for current cardholders is here.
Bilt Rewards first teased a card portfolio overhaul in mid-2025, and there's a ton of changes to unpack.
So, here’s an overview of Bilt’s new credit card portfolio, along with the key details and dates you need to know as you transition your current Bilt card to one of its three new credit cards.
Page Contents
Overview of the New Bilt Rewards Credit Card Portfolio
We’ve known for quite a while that Bilt Rewards was in the process of sunsetting the Wells Fargo-issued The Bilt Mastercard® in favor of three new Cardless credit cards. In November, Bilt confirmed rumors that it would introduce three cards: a no-annual-fee card, a $95 annual fee card, and a premium $495 annual fee card.
That’s now become a reality. And while these three cards share some similarities, there are plenty of differences too. So, if you’re a current Bilt Mastercard holder, you’ll want to read on for the details on each option to decide which, if any, makes sense for you to transition to.
To keep things easy to digest, we’ll go card by card and walk through the benefits, welcome bonus if applicable, earning rates, and more.
Bilt Palladium Card
The Bilt Palladium Card is Bilt Rewards’ brand-new premium card. It carries a $495 annual fee and includes a set of benefits designed to help justify that steep price tag.
Those benefits include a $400 Bilt Travel portal hotel credit (split into two $200 credits each half of the year), $200 in Bilt Cash annually, and a Priority Pass membership.
The Bilt Palladium Card will also be issued as a Mastercard World Legend product, which means it comes with built-in perks like baggage delay insurance, lost or damaged luggage coverage, and more.
Better yet, the Bilt Palladium Card also comes with a welcome bonus that’s available to both new and transitioning cardholders. The bonus is 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 3 months + $300 of Bilt Cash.
This is also a rewarding premium card for everyday spending. It earns Bilt Points as follows:
- Up to 1X points on rent and mortgage payments
- 2X points + 4% back in Bilt Cash on everyday purchases
Plus, there are no foreign transaction fees.
- Up to 1X points on rent and mortgage payments
- 2X points + 4% back in Bilt Cash on everyday purchases
Bilt Obsidian Card
The brand-new Bilt Obsidian Card will be the rewards program’s mid-tier card. This $95 annual fee card comes with a solid lineup of travel benefits and is also fairly rewarding to spend on.
Like its premium counterpart, the Bilt Obsidian Card offers a welcome bonus to both new and transitioning cardholders of $200 of Bilt Cash when you apply and get approved.
The card’s headline benefit is a $100 Bilt Travel portal hotel credit that's split into two $50 credits each year. If used in full, that perk alone exceeds cost of carrying the card.
The card also includes Mastercard World Elite benefits, such as trip delay reimbursement, extended warranty protection, cell phone protection, and more.
But one of the most interesting features is its earning rates. The Bilt Obsidian Card has a useful rewards structure that covers multiple purchase categories, including one that’s customizable.
- Up to 1X points on rent and mortgage payments
- 1X points + 4% back in Bilt Cash on everyday purchases
- 3X points on your choice of grocery (up to $25K/year) or dining. Your 3X category choice remains in effect for the entire calendar year.
- 2X points on travel
And there are no foreign transaction fees.
- Up to 1X points on rent and mortgage payments
- 1X points + 4% back in Bilt Cash on everyday purchases
- 3X points on your choice of grocery (up to $25K/year) or dining. Your 3X category choice remains in effect for the entire calendar year.
- 2X points on travel
Bilt Blue Card
Last but not least, Bilt is following through on its promise to offer a no-annual-fee card with the Bilt Blue Card.
This card doesn’t offer much beyond Mastercard World Elite benefits and a modest earning structure, but that’s generally par for the course for a no-annual-fee product.
- Up to 1X points on rent and mortgage payments
- 1X points + 4% back in Bilt Cash on everyday purchases
The card will also offer a welcome bonus for both new and transitioning cardholders of $100 of Bilt Cash when you apply and get approved.
- Up to 1X points on rent and mortgage payments
- 1X points + 4% back in Bilt Cash on everyday purchases
Fees and restrictions worth knowing about
One key takeaway from all of this is that each card is very different. So, you might be wondering if it’s possible to carry two Bilt cards at once to maximize your benefits and earn more Bilt Points on your spending.
Unfortunately, the answer is no. At launch, you can only be the primary cardholder on one Bilt account, although you can be an authorized user on a second card.
There are also fees to add authorized users, depending on the card:
- Bilt Palladium Card: $95 per authorized user (includes Priority Pass)
- Bilt Obsidian Card: $50 per authorized user
- Bilt Blue Card: $0 per authorized user
You can add up to five authorized users through the Bilt app.
Transition Details for Current Bilt Cardholders
The transition window for current Bilt Mastercard cardholders opens on January 14 and closes on January 30, 2026. During this period, you can pre-order a new Bilt card and receive it ahead of the official launch of Bilt 2.0.
Your new Bilt card will keep the same card number as your existing card, and you’ll be able to choose a new product without triggering a hard credit inquiry.
You can make your selection in the Bilt app or at bilt.com/card.
For reference, February 6 is the last day your Bilt Mastercard will work. February 7 is the first day your new Bilt card will be active, and your digital wallets will update automatically.
If you don’t choose a new Bilt card, your current Bilt Mastercard will automatically convert to a Wells Fargo Autograph® Card(Rates & Fees). This is a no-annual-fee card issued by Wells Fargo, and it won’t come with a welcome bonus.
Alternatively, you can close your current Bilt account and skip the transition entirely. That would end your credit card relationship with Bilt and Wells Fargo, although you’ll still be able to participate in the Bilt Rewards program without a card. Just keep in mind that the rewards won’t be as generous.
Key Things to Know About Bilt 2.0
Bilt is calling the launch of its new cards and the transition to a revamped program “Bilt 2.0.” And with the move to new cards and some uncertainty around which core benefits (like paying rent without transaction fees) will carry over, we’ll take this opportunity to walk through what we know and answer some of the common questions.
How will I earn rewards on rent and mortgages?
In the new iteration of Bilt Rewards, members will still be able to earn points on rent, as well as on any mortgage, with no transaction fee when using Bilt Cash as a Bilt cardholder.
For cardholders, Bilt members can pay their rent or mortgage without tapping into their credit line. There’s also no preset spending limit on housing payments and no annual cap on rent and mortgage earnings.
That’s where things get a bit confusing, though, since Bilt is advertising two different ways to pay your rent or mortgage with a Bilt credit card.
- The no transaction fee option: You can redeem Bilt Cash for Bilt Points to unlock up to 1X points on rent or mortgage, at a redemption value of $30 in Bilt Cash to unlock 1,000 points. The more you spend, the more Bilt Cash you earn, and the more Bilt Points you can earn on your payments.
- The full points option: You can earn the full 1X points on your rent or mortgage, but if you don’t have enough Bilt Cash to cover the 3% transaction fee, there’s a option pay a 3% transaction fee to “buy” the difference to earn the full amount.
If you pay your rent with a non-Bilt card, note that you can't use Bilt Cash to offset transaction fees associated with your rent or mortgage.
Ultimately, unless you spend a lot on your Bilt card and earn a lot of Bilt Cash, you’ll likely end up relying on the latter option. Hopefully, Bilt will make this a bit clearer when it explains the logistics of rent and mortgage payments on its website.
Related: How to Pay Rent via Bilt Rewards and Earn Points
What is Bilt Cash?
In late 2025, Bilt Rewards announced that Bilt Cash would replace Milestone Rewards and play a major role in Bilt 2.0.
As you might have noticed above, all of the new Bilt cards will earn Bilt Cash in addition to Bilt Points. While the details are still fairly thin, you’ll be able to use Bilt Cash for things like:
- Unlock one-time status upgrades, transfer bonuses, and early access to member experiences
- Use monthly Bilt Cash credits dollar for dollar across the Bilt network (Lyft, hotel stays, fitness classes, mobile dining, Bilt Collection items, and GoPuff deliveries)
- Unlock points on rent and mortgage payments, where every $30 in Bilt Cash unlocks 1,000 points (with no minimums and no $30 increments required)
It’s also worth noting that Bilt Cash expires on December 31 of each calendar year. At most, you’ll be able to roll over $100 in Bilt Cash to the following year, so it’s worth using it in a way that makes the most sense for you.
Bottom Line
Well, there you have it. The new era of the Bilt Rewards program is here.
For some members, the chance to choose a new Bilt card with benefits and earning rates that actually matter will be exciting. For others, the transition to Bilt 2.0 might not work quite as much in your favor.
Either way, now’s the time to act. If you’re a current Bilt cardholder, you have until January 30, 2026, to choose a new Bilt card, opt out and let your account convert to a Wells Fargo Autograph, or close your Wells Fargo account and skip the transition altogether.
The bottom line is that you’ll need to decide how you want to participate in the Bilt Rewards program, and that deadline will be here before you know it.
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