AwardWallet receives compensation from advertising partners for links on the blog. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
Offers for the Bilt Blue Card, The Bilt Mastercard®, Bilt Obsidian Card and Bilt Palladium Card are not available through this site. Some offers may have expired. Please see our card marketplace for available offers
Bilt Rewards launched its slate of three new credit cards, dubbed “Bilt 2.0.” While the original Bilt Rewards Credit Card was issued by Wells Fargo, the current version is issued by Cardless and comes with a slate of new benefits and terms. Two of the cards have annual fees, including the Bilt Obsidian Card.
The mid-tier Bilt Obsidian Card is meant to appeal to those who want bonus points on specific spending categories. Let's dig into the details of this new offering and see if it's worth adding to your wallet.
- 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 Obsidian Card Pros
- Earn points on your rent or mortgage with enough card spending
- 3X points on dining or groceries (up to $25,000 per year)
- 4% Bilt Cash on every eligible purchase, in addition to Bilt points
- No foreign transaction fees
Bilt Obsidian Card Cons
- Bilt Cash is required for rent and mortgage point earning opportunities
- Some payments, like online marketplace and tax payments, are excluded from earnings
- $95 annual fee
Bilt Obsidian Card Benefits
The Bilt Obsidian Card offers a slate of unique benefits. Here are some highlights.
No transaction fees on housing payments
All Bilt credit cards offer the ability to pay for your rent or mortgage through Bilt without paying a fee.
A key detail to point out is that this doesn't mean fee-free rewards. To earn fee-free Bilt Points on your housing payment, you'll need to redeem Bilt Cash to cover the difference — or spend 75% of your housing payment each month to cover the 3% transaction fee. If you're confused, you're not alone.
However, you can process your rent or mortgage through Bilt Rewards for free. You won't earn any Bilt Points for the trouble, and it won't help you earn Bilt status, either. But if you were processing your rent through Bilt before the new cards launched, you can continue doing so under the new rules if you have a Bilt credit card.
$100 Bilt Travel Hotel Credit
The Bilt Obsidian Card offers a $100 hotel credit for cardholders in the form of a statement credit. The credit works like this:
- Cardholders will receive one $50 credit between January 1 and June 30, and another $50 credit between July 1 and December 31.
- The credit applies to bookings made through the Bilt Travel Portal of two nights or more.
- You may use your Bilt Obsidian Card, in whole or in part, for the booking, and apply the credit during the booking process.
So, you'll have a $50 credit to use each half of the year on a two-night stay booked through the Bilt Travel Portal. If you have extra Bilt Cash from your card spending, you can use it to help pay for the reservation.
World Elite Mastercard Benefits
Since the Bilt Obsidian Card is a World Elite Mastercard, it comes with the following travel and purchase protections, including:
Theft and identity protection
If your card is lost or stolen and used to make purchases without your permission, you're covered. You'll also receive Mastercard ID Theft Protection, which monitors suspicious activity on your card throughout the Mastercard network and on the dark web. Mastercard Global Service can assist with lost or stolen card reporting and emergency card replacement, available 24 hours a day.
Cell phone protection
Cardholders receive cell phone protection when they charge their wireless bill to their credit card. Coverage begins the first day of the calendar month after you first pay your bill with your Bilt Obsidian Card. Coverage is limited to $800 per incident and to $1,000 per card per rolling 12-month period, with up to two claims per period. There's a $50 deductible as well.
Concierge services
Advertised as a personal assistant “24 x 7 x 365,” the Mastercard Concierge Service offers local taste expert access, exclusive dining and event venues, and pre-trip planning services for cardholders.
Purchase protection
Those with the Bilt Obsidian Card are covered for purchases damaged or stolen up to 90 days after the initial purchase. This even includes items you've given as gifts. Purchase protection coverage is limited to $1,000 per loss and up to $50,000 per covered card in a 12-month period. Be sure to check the terms and conditions for any exclusions, like used or antique items.
Rental car coverage
The Bilt Obsidian Card offers “MasterRental” insurance for car rentals paid for with the card. This is secondary rental car insurance coverage. That means that any coverage provided is in addition to your primary car rental insurance. Also, be sure to review the policy exclusions, such as trucks, full-sized vans on truck chassis, and antique vehicles.
Trip delay insurance
Trip delay insurance is offered when a trip is paid for entirely with the Bilt Obsidian Card. You, your family members, and traveling companions are covered by this benefit. Coverage begins when a trip is delayed by six hours or more due to the following events:
- Inclement weather
- Equipment failure by a common carrier
- Lost or stolen travel documents
Delays caused by war or foreign enemies are not covered by insurance. Coverage is limited to $300 per trip, and one claim per 12-month period. Note that trips that are paid for with award points and miles are still eligible, so long as all other charges, like taxes, are paid with the card.
Trip interruption and cancellation insurance
Similar to the above, if your trip is paid for in its entirety with the Bilt Obsidian Card, and you become sick, seriously injured, severely dismembered, or die during your travels, you're likely covered.
Trip cancellation coverage applies when a physician advises you not to travel for health reasons and covers non-refundable travel arrangements already made. If you've already begun your travels, trip interruption insurance will cover any non-refundable travel yet to occur. The insurance plan will also cover instances when new tickets or arrangements must be made due to illness or injury.
Lost or damaged luggage insurance
Those who paid for their trips in full with their card will receive coverage for lost or damaged luggage. This covers any journey on a common carrier (not just airplanes- cruise ships, ferries, trains, and public transportation, too). Coverage begins when you've checked in your luggage or carried it on yourself onto the common carrier. Coverage is limited to the actual loss of the item, up to $1,500 per incident, and up to two times per 12-month period.
Bilt Obsidian Card Welcome Offer
The Bilt Obsidian Card offers a welcome offer of $200 of Bilt Cash. Bilt Cash can be used to reduce or eliminate transaction fees on points earned from rent and mortgages. You can also redeem throughout the “Bilt Neighborhood.” Learn more about Bilt Cash here.
Otherwise, the Bilt Obsidian Card welcome offer doesn't include Bilt Points at this time. If you're looking for a points bonus, the higher-end Bilt Palladium Card‘s sign-up offer includes both Bilt Cash and Bilt Points.
Bilt Obsidian Card Earning Rates
The Bilt Obsidian Card earns Bilt Points as its main currency. The card can also earn Bilt Cash at a 4% rate on everyday spending if you elect to earn it. Otherwise, you'll earn a housing benefit based on the monthly spend that allows you to earn up to 1.25x points on your housing payment. You can switch between the two options whenever you'd like, with the change taking effect the following month.
The card also earns Bilt Points at the following rates:
- 3X Bilt Points on a choice of dining or grocery spend
- 2X on Travel
- 1X on everyday spending
There is a long list of excluded purchases, such as tax payments and online marketplace purchases, to be aware of. Also of note is that the 3X category requires a choice between dining or grocery spending. You'll have 30 days after approval to make your selection and then can change it once each January.
Application Restrictions
If you've had the old Bilt Mastercard, you're still eligible to apply for the Bilt Obsidian Card. You'll also be eligible for the sign-up bonus. However, Bilt has instituted a “once-per-lifetime” policy for sign-up bonuses across all three of its credit cards.
You're only eligible to be the primary cardholder on one Bilt credit card at a time. Those who had the old Bilt Mastercard needed to apply to switch their card to one of the new Bilt cards by January 30, 2026, without it affecting their credit. Those who don't opt to make the switch can still apply for a new Bilt card, but it would be a completely new credit line (and thus, credit would be affected by the inquiry). You are able to be an authorized user on multiple Bilt credit cards.
Cardless is a relatively new credit card issuer, and it once had a rule limiting cardholders to a single credit card product across its network at a time. Thankfully, that rule has changed. You do have the following restrictions:
- Only one new Cardless approval every 60 days
- You can only submit an application 45 days after a recent Cardless card decline.
- Only one Cardless card per brand.
- You cannot already have the same card.
Some of these rules overlap with the Bilt family rules, but it's essential to be aware of them before applying.
Is the Bilt Obsidian Card a Good Credit Card?
The Bilt Obsidian Card offers a lot of compelling benefits for cardholders. It's a step up in earnings compared to the no-fee Bilt Mastercard in the old program. However, there are a few concerns we recommend you consider before applying.
First, the card's earning structure is complex. On the Bilt Points earning side of the equation, you'll have to select in which category you'd like to earn 3X Bilt Points — dining or groceries. You can only select this within 30 days of applying for the card or in January. It's hard to predict where your spending will take you throughout the calendar year, and this policy can lead to missed opportunities to earn points.
Compared to the old Bilt card, the new Bilt card's path to earning points on rent (and now mortgages) is complex. And now, there is a further choice to make. Should you earn Bilt Cash, or should you forgo that and earn points based on your monthly spending?
If you choose Bilt Cash, should you use it to earn Bilt Points towards your housing payment, or one of a myriad of Neighborhood partners (each of which has incredibly stringent redemption limits)?
Bilt Cash also expires on December 31 every year, with only $100 of your balance rolling over into the new calendar year. The system seems confusing compared to other $95 annual-fee credit cards on the market.
Complexity can be daunting for the beginner, but for some, it may not be a hurdle too high to clear. If you can maximize the program's benefits, Bilt 2.0 can be highly rewarding. The Bilt Obsidian provides access to many of Bilt's best features. We wish it were easier for the average cardholder to understand.
Cards That Compete With the Bilt Obsidian Card
Before you apply for the Bilt Obsidian Card, you may want to consider a few other options.
- If you want to earn more Bilt Points for every purchase, consider the Bilt Palladium Card. This card earns 2X Bilt Points on every eligible purchase. While you may earn fewer rewards on dining and grocery purchases than with the Bilt Obsidian Card, the card remains a lucrative option for non-bonused spend. While the card carries a $495 annual fee, it offers a more robust set of benefits, including a $400 yearly hotel credit and Priority Pass.
- If you want to earn Bilt Points with $0 fee, consider the Bilt Blue Card. While you won't earn as many Bilt Points as the Bilt Obsidian Card, it'll still allow you to access fee-free housing payments in the same way for no annual fee. The card earns 1X Bilt Points on all eligible purchases, and still includes handy features like cell phone protection.
- If you want access to a strong transfer network for a similar annual fee, the Chase Sapphire Preferred® Card offers a more simplified card experience. Cardholders earn 5X Ultimate Rewards on travel booked through Chase Travel, 3X on dining, streaming services, and online groceries, 2X on other travel, and 1X on everything else. The card features 1:1 transfers to transfer partners like Hyatt, United, and British Airways, among others.
$495
- Up to 1X points on rent and mortgage payments
- 2X points + 4% back in Bilt Cash on everyday purchases
$0
- Up to 1X points on rent and mortgage payments
- 1X points + 4% back in Bilt Cash on everyday purchases
$95Rates & Fees
- 5X points on Lyft rides through September 2027
- 5X points on travel purchased through Chase Travel℠
- 3X points on dining at restaurants worldwide
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
Bottom Line
Overall, the Bilt Obsidian Card feels a bit overwhelming — even for a credit card expert. There's a lot to manage, from base-level earning to the entire Bilt Cash ecosystem to how a cardholder earns fee-free points on their housing, as they did under the old program.
There's significant change, and even if you never knew how good the old program once was, the Bilt Obsidian Card faces too much competition to be a compelling offering for us at this time.
My take: There are better options within the Bilt card family to access the best benefits of the Bilt Rewards program.
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Sapphire Preferred® Card (Rates & Fees)
