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Bilt's latest lineup of credit cards includes a new high-end option, the Bilt Palladium Card. The card leans heavily on the Bilt Rewards ecosystem — particularly its housing payment structure — to justify its premium annual fee.
From earning Bilt Points on housing payments to 2X points on everyday spending, this card offers a compelling lineup of benefits. But is it right for your wallet, and how does it stack up against other premium credit cards? Let's dig into all the details in our review of the Bilt Palladium Card.
Bilt Palladium Card Pros
- 2X Bilt Points on all eligible purchases
- Earn Bilt Points on housing payments by meeting requirements or redeeming Bilt Cash
- Access to Bilt's transfer partners
- No foreign transaction fees
Bilt Palladium Card Cons
- Bilt Cash expires at the end of the year
- Tax payments (and other large purchases) don't earn points
- High annual fee will take optimizing to justify
Bilt Palladium Card Benefits
With a high annual fee, the Bilt Palladium Card offers an impressive buffet of benefits for cardholders. Here are some of the highlights.
No transaction fees on housing payments
While this benefit is available to all Bilt cardholders — not just Palladium members — Bilt says you will not be charged a transaction fee when paying rent or a mortgage through Bilt. That does not mean, however, that all housing payments automatically earn rewards.
Instead, you must choose between two reward structures:
- Flexible Bilt Cash: Earn 4% back in Bilt Cash on everyday spending. Bilt Cash can be used across the Bilt ecosystem, including to unlock up to 1X points on housing payments.
- Housing-only rewards: Earn points directly on housing payments through a tiered structure that increases based on how much you spend on the card each billing cycle, up to 1.25X.
If you use the Flexible Bilt Cash option to earn points on housing payments, you’ll need to apply Bilt Cash to unlock points.
The effective rate is roughly 3% of your housing payment. In practical terms, that means you would need $30 in Bilt Cash to earn 1,000 Bilt Points on a $1,000 housing payment (1X).
If you instead select the housing-only tiered structure, your earning rate is based on monthly spending:
| Points on Housing Payment | Minimum everyday spend as a % of monthly rent / mortgage |
|---|---|
| 0.5X Points | Spend at least 25% of monthly rent |
| 0.75X Points | Spend at least 50% of monthly rent |
| 1X Points | Spend at least 75% of monthly rent |
| 1.25X Points | Spend at least 100% of monthly rent |
If this sounds complicated, that’s because it is. The “old” Bilt Rewards Mastercard offered fee-free rent payments, but after Wells Fargo and Bilt ended their partnership, a new system has come online.
$400 of Bilt Travel hotel credit
The Bilt Palladium Card includes $400 of hotel credits each year booked through the Bilt Travel Portal. The credits are split into two $200 increments — one valid January 1 through June 30 and the other July 1 through December 31.
In addition, the credits must be used on two-night bookings (or more). To use these, select the “credit” toggle at checkout. Credits are delivered in the form of a statement credit. You can also use them with Home Away From Home.
$200 of Bilt Cash annually
Each account anniversary, Bilt Palladium Card cardholders receive $200 in Bilt Cash. Bilt Cash can be used across the Bilt ecosystem, including to unlock Bilt Points on housing payments or toward select travel, dining, fitness, and other partner offers. Up to $100 in unused Bilt Cash can roll over into the next calendar year.
World Legend Mastercard benefits
The Bilt Palladium Card is a World Legend Mastercard, unlocking enhanced benefits.
Priority Pass membership
The Bilt Palladium Card includes Priority Pass membership for the cardholder and up to two guests per visit. Additional guests are $35 per person. Like most other credit card-issued Priority Pass memberships, airport restaurants and non-lounge experiences are not included.
Theft and fraud protections
World Legend Mastercard offers ID theft protection that monitors your personal details across the internet and dark web. You're also protected if your card is used for fraudulent purchases resulting from theft or fraud.
If your card is lost or stolen, there's a 24-hour team available to assist with issues, including emergency credit card delivery worldwide.
Concierge services
Mastercard offers a suite of concierge benefits, such as hard-to-obtain restaurant reservations and travel booking assistance. This service is available worldwide.
Cellular protection
Cellular protection is activated the month after you begin paying your cellphone bill with your Palladium card. This benefit covers damage or theft. You'll be limited to $800 per occurrence, and up to $1,000 in total claims per 12-month period. There's also a $50 deductible per claim.
Purchase protection and extended warranties
The Bilt Palladium Card offers strong purchase protection and extended warranties for products purchased with the card. If your item is damaged or stolen within 90 days of purchase, you're covered. Losses are limited to $1,000 per occurrence and up to $50,000 in total per year. This policy does not cover some items, so make sure you read the terms and conditions.
The card also includes an extended warranty for purchases that have an original warranty of 24 months or less. Warranties can be extended by up to 24 additional months, doubling the original warranty. Coverage is limited to the lesser of:
- The original cost of the item
- The cost of the repair
- The cost of the replacement
- $10,000
Price drop protection
For all purchases made with the card, you'll be covered by price drop protection for up to 90 days. You're limited to $250 per claim, with a minimum claim amount of $25. You can only use this perk up to four times per 12-month period.
Rental car coverage
For all car rentals of 31 days or less paid for with the Palladium card, you'll receive secondary rental car insurance. This means the policy will take effect after your primary rental car insurance, so it is supplemental. There are exclusions for the types of vehicles covered by this policy, such as pickup trucks, and for the kinds of damage that qualify.
Trip delay, cancellation, and interruption insurance
When travel goes awry, the Bilt Palladium Card includes protections to help ease the pain. You must charge the full trip cost (excluding award taxes and fees) to the card to activate coverage.
- Trip delay insurance applies when travel on a common carrier is delayed more than six hours and reimburses eligible expenses.
- Trip interruption coverage applies if illness or injury prevents you from continuing your trip and can reimburse eligible expenses to return home or rejoin your itinerary.
- Trip cancellation insurance applies if a covered reason — such as a doctor advising you not to travel — prevents your trip and reimburses nonrefundable travel arrangements charged to the Palladium Card.
Lost, damaged, and delayed luggage insurance
Losing your luggage while traveling is no fun. With the travel protections offered by the Palladium card, you can recoup costs incurred due to the inconvenience. If your luggage is lost or damaged while traveling on a common carrier, you'll be covered for up to $1,500 per incident, with up to two claims per 12-month period. This policy also covers damage or loss to carry-on luggage.
For delayed luggage, you're covered up to $250 per claim for items you must purchase due to the delay. This is also limited to two claims per 12-month period.
Bilt Palladium Card Welcome Offer
The Bilt Palladium Card offers $300 in Bilt Cash upon approval, 50,000 Bilt Points, and Bilt Gold status after spending $4,000 on eligible purchases (excluding rent or mortgage) in the first three months.
The $300 in Bilt Cash can be used within the Bilt ecosystem, including to unlock points on housing payments or for Bilt Neighborhood purchases.
Bilt Palladium Card Earning Rates
The Bilt Palladium Card earns 2X Bilt Points on eligible purchases. Eligible purchases exclude purchases like gift cards and tax payments.
Under the Flexible Bilt Cash option, cardholders earn 4% back in Bilt Cash on everyday spending. If you select the housing-only rewards structure instead, you give up Bilt Cash earnings in favor of tiered points on housing payments.
Bilt awards $50 in Bilt Cash for every 25,000 qualifying Bilt Points earned toward elite status — a program-wide milestone benefit. With 2X earning on eligible purchases, Palladium cardholders can reach those thresholds faster through everyday spending.
If you are a sole proprietor or small business owner and were planning to make tax payments with your Bilt credit card, you'll want to use a different card to be rewarded for your payment.
Related: When It Makes Sense to Pay Taxes With a Credit Card
Application Restrictions
Bilt allows only one card type in the Bilt family per primary cardholder, though you can be an authorized user on multiple Bilt cards. You’re also limited to one Bilt sign-up bonus per lifetime. If you previously had the original Bilt card and did not product-change to one of the new versions, you remain eligible to apply.
Cardless issues Bilt credit cards and limits approvals to one new Cardless card every 60 days. If you’re declined, you must wait 45 days before applying again.
Is the Bilt Palladium Card a Good Credit Card?
The Bilt Palladium Card offers a straightforward 2X earning rate and a competitive welcome bonus. The first-year value can be strong if you maximize the welcome offer and leverage Bilt Gold status for enhanced Rent Day transfer bonuses.
The World Legend Mastercard status of the Palladium Card offers stronger purchase protections than the other Bilt card offerings.
However, the housing payment earning structure is more complex than previous versions of Bilt’s program. Because Bilt Cash expires at the end of each calendar year — with only $100 eligible to roll over — cardholders must actively manage redemptions to avoid losing value.
Cards That Compete With the Bilt Palladium Card
There are plenty of premium credit cards competing with the Bilt Palladium Card. Here are some top alternatives:
- If you're looking for simpler benefits in a premium credit card, consider the Capital One Venture X Rewards Credit Card. With a lower annual fee of $395, and an annual travel credit of $300, usable through Capital One Travel, there are fewer “gotchas” and hoops to jump through than the Bilt Palladium Card. Plus, you'll have access to Capital One Lounges, in addition to a Priority Pass membership.
- If you're looking for more premium travel benefits, consider the American Express Platinum Card®. While it has a higher annual fee of $895, it offers an impressive global lounge access. Plus, there are many (many!) monthly, quarterly, semiannual, and annual credits to bring down the cost of the yearly fee. The card's Fine Hotels and Resorts program doesn't require status to access, either.
- If you're looking for a lower annual fee, the Bilt Blue Card offers access to the Bilt network and points-earning housing payments, with no other yearly fee. While you won't earn as many points on everyday spending, nor as lucrative a sign-up bonus, the card is compelling for those who like to keep costs in line.
- 10X miles per $1 on hotels and rental cars booked via Capital One Travel
- 5X miles per $1 on purchases through Capital One Entertainment
- 5X miles per $1 on flights when booking via Capital One Travel
- 5X miles per $1 on vacation rentals booked via Capital One Travel
- 2X miles per $1 on all other eligible purchases
(Terms apply)
- Earn 5X points for flights booked directly with airlines or with American Express Travel® (up to $500,000 in purchases per calendar year).
- Earn 5X points on prepaid hotels booked with American Express Travel®.
- Earn 5X points on Fine Hotels + Resorts® and The Hotel Collection bookings.
- Up to 1X points on rent and mortgage payments
- 1X points + 4% back in Bilt Cash on everyday purchases
Bottom Line
Overall, the Bilt Palladium Card can make sense for the right cardholder. The welcome offer is strong, which makes the first year especially compelling for those who fully leverage the bonus and housing benefits.
The flat 2X earning rate on eligible purchases is appealing, particularly for non-bonused spending you might otherwise put on another card.
Bilt Cash has broader redemption options than just housing payments, including travel, dining, transportation, fitness, entertainment, and premium experiences. However, many of these categories have monthly or annual caps. Because Bilt Cash expires annually, you’ll need to actively manage redemptions to avoid losing value.
Long term, the card’s value will depend on how usable Bilt Cash becomes and whether the housing rewards structure evolves in a more consumer-friendly direction.
For rates and fees of the cards mentioned in this post, please visit the following links: American Express Platinum Card® (Rates & Fees)
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