WATCH NOW: Bilt’s New Rewards Program for Mortgage and Rent Payments
Bilt Rewards, the fintech start-up that transformed the rental market, is now entering the homeownership space with a massive overhaul dubbed “Bilt 2.0.” Starting February 7, 2026, Bilt is expanding its rewards ecosystem to include mortgage payments, a move that founder Ankur Jain calls a “win for Americans.”
However, the new system introduces a layer of complexity that requires users to “do the math” to truly benefit. Here is everything you need to know about the new cards, the “Bilt Cash” currency, and the surprising 10% interest rate cap.
The Bilt 2.0 Credit Card Suite
Bilt has moved its partnership from Wells Fargo to Cardless, launching three new tiers of credit cards designed for different lifestyles.
| Feature | Bilt Blue | Bilt Obsidian | Bilt Palladium |
| Annual Fee | $0 | $95 | $495 |
| Introductory APR | 10% (1st Year) | 10% (1st Year) | 10% (1st Year) |
| Everyday Points | 1x | 1x | 2x |
| Bonus Categories | N/A | 3x Dining or Groceries | N/A |
| Bilt Cash Earn | 4% | 4% | 4% |
| Annual Credits | N/A | $100 Hotel Credit | $400 Hotel Credit + $200 Bilt Cash |
How Mortgage Rewards Work: The “Bilt Cash” Unlock
For the first time, homeowners can earn 1x points on mortgage payments. However, unlike the original “fee-free” rent model, Bilt is introducing a mechanism to offset the traditional 3% transaction fee associated with paying a mortgage via credit card.
- Bilt Cash: On all non-housing purchases, you earn a flat 4% in Bilt Cash.
- The Unlock: To earn points on your mortgage without paying the 3% fee out of pocket, you must redeem your Bilt Cash.
- The Ratio: Every $30 in Bilt Cash unlocks 1,000 Bilt Points on your housing payment.
Example: If your mortgage is $3,000, you would need $90 in Bilt Cash to earn the full 3,000 points fee-free. To earn that $90 in Bilt Cash, you would need to spend approximately $2,250 on everyday items (4% of $2,250 = $90).
The 10% Interest Rate Cap
In a move that mirrors recent political discussions surrounding consumer affordability, Bilt is capping interest rates on all new purchases at 10% for the first 12 months. After the introductory year, rates will revert to standard market APRs, which currently range between 26% and 37% for these cards.
CEO Ankur Jain noted that this was a proactive step to align with the “bipartisan call for solutions” regarding high-interest debt.
Important Dates for Transition
If you are an existing Bilt Mastercard holder, your timeline for the 2.0 transition is critical:
- January 14 – January 30, 2026: Pre-order window. Existing members can select their new 2.0 card in the app with no hard credit inquiry.
- February 6, 2026: Your current Wells Fargo Bilt Mastercard will be deactivated.
- February 7, 2026: The new Bilt 2.0 cards go live. Any remaining Wells Fargo accounts will be converted to a Wells Fargo Autograph Visa.
Verdict: Is it worth it?
Bilt Points remain highly valuable, currently valued at roughly 2.2 cents each due to 1:1 transfer partners like Alaska Airlines and World of Hyatt. For high spenders, the ability to earn these points on a mortgage is unparalleled, but for casual users, the “Bilt Cash” math may feel like a high-maintenance chore.
