Earlier this year, fintech and loyalty program Bilt sunset its original credit card and introduced three new cards. It also overhauled its rewards program and tweaked how you earn Bilt Points — a change that some customers considered complex and confusing.
Now, Bilt is further simplifying its program and making certain features easier to use. This comes after a first round of changes the company made in January, shortly after the announcement of the new-and-improved program.
Bilt Points remain one of the most valuable credit card currencies on the market, so there’s good incentive in exploring the program. And while Bilt is changing several program features with this update, there is a way to be grandfathered into the old system if you open a card before Dec. 31, 2026.
CNBC Select takes you through the latest update to Bilt’s rewards system and who the changes might benefit most.
Changes to Bilt’s system
Changes to Bilt Cash
Bilt Cash expiration
The largest change to Bilt Cash is a positive one: Effective immediately, Bilt Cash will no longer expire at the end of the year or roll over. Instead, the Bilt Cash you earn will now expire 12 months later. So any Bilt Cash you earn throughout November 2026 will now expire on Nov. 30, 2027.
In the previous system, all but $100 in Bilt Cash would expire at the end of a year. Now, you have a lot more time with your currency, and you can better plan how to use it instead of panic-spending before your rewards expire.
The rest of the Bilt changes — which we cover below — are set to happen in 2027, though you have the option to opt out of some as an existing cardholder. If you accept a Bilt Card offer on or after Jan. 1, 2027, you’ll get the perks immediately. If you’re a cardholder before this date, you’ll get them on your first card account anniversary.
New restrictions on Bilt Cash for hotels
One downside to the changes to Bilt Cash is how often you can use it for hotel bookings through Bilt Travel. As of now, Bilt members with Blue and Silver status can redeem up to $50 in Bilt Cash toward eligible stays each month (Gold and Platinum members can redeem $100). This is shifting to just twice a year starting Jan. 1, 2027.
Additionally, new redemption limits apply based on your membership status:
Bilt Cash for Hotels Redemptions
| Blue and Silver status | Up to $50 in Bilt Cash, twice annually ($100 total) |
| Gold and Platinum status | Up to $100 in Bilt Cash, twice annually ($200 total) |
| Eligible Bilt Palladium cardholders | Up to $200 in Bilt Cash, twice annually ($400 total) |
One silver lining for owners of the Bilt Palladium Card (see rates and fees) is that the maximum amount of Bilt Cash you can use at one time is increasing. But the total amount you’ll be able to use over the course of the year is being slashed heavily.
Previously, provided you had enough Bilt Cash, Gold and Platinum members could redeem up to $100 Bilt Cash per month toward a qualifying Bilt hotel stay, or $1,200 over the course of the year.
The Bilt Palladium Card earns 2X Bilt Points on everyday purchases, and your choice of up to 1.25X on rent and mortgage payments
- Earns ultra-valuable flexible rewards
- Simple flat-rate rewards earning
- Can earn up to 1.25X points on rent and mortgage payments
- High annual fee
- Bilt Cash redemptions are complicated
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn up to 1.25X points on rent and mortgage payments with no transaction fee.
- 2X points on everyday spend
- $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- $200 Bilt Cash (awarded annually). Each Bilt Cash award expires 12 months after you earn it, on the last day of that month.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
- Priority Pass ($469/year value). See Guide to Benefits.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.
- Earn additional points through Bilt Neighborhood Benefits™ when you use your card at Bilt’s network of 50,000+ merchant partners.
Balance transfer fee
Changes to annual Bilt Cash
Bilt is also attempting to streamline the annual credits its three cards provide, removing hotel-specific credits in favor of flat Bilt Cash.
Currently, the Palladium earns $200 in Bilt Cash and a $400 Bilt Travel Hotel credit. (For the hotel credit, get up to $200 in statement credits from Jan. 1 to June 30 and up to $200 in credits from July 1 to Dec. 31 on hotel bookings of two nights or more booked through Bilt Travel.) In January, these perks will be replaced with a blanket $600 in Bilt Cash each year.
The Bilt Obsidian Card‘s (see rates and fees) $100 Bilt Travel Hotel credit (applied twice a year as $50 statement credits for qualifying Bilt Travel Portal hotel bookings) will also be replaced with $100 in annual Bilt Cash.
The Bilt Obsidian Card offers 3X Bilt Points on key everyday categories, like groceries (up to $25,000 per year) or dining (your 3X category choice remains in effect for the entire calendar year). It also comes with a $50 Bilt Travel Portal hotel statement credit semiannually.
- High return on dining or grocery purchases
- Option to earn up to 1.25X points on rent and mortgage payments with no transaction fee
- Features a $100 Bilt Travel Hotel credit, applied twice a year as $50 statement credits
- Spending cap on grocery rewards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn up to 1.25X points on rent and mortgage payments with no transaction fee.
- 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
- 1X points on everyday spend
- Welcome offer: $200 of Bilt Cash when you apply and get approved. Each Bilt Cash award expires 12 months after you earn it, on the last day of that month.
- $100 Bilt Travel Hotel credit. Applied twice a year, as $50 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.
- Earn additional points through Bilt Neighborhood Benefits™ when you use your card at Bilt’s network of 50,000+ merchant partners.
Balance transfer fee
If you’re disappointed with the changes being made, Bilt gives you the opportunity to opt out of several changes, which we’ll touch on in the next section.
Simplified housing rewards
Currently, Bilt offers two ways to earn housing rewards: You can earn 4% Bilt Cash on all your purchases, or you can earn up to 1.25X points per dollar spent on your housing payments. But starting Jan. 1, 2027, the Bilt Cash option will be removed for new cardholders.
This makes the decision-making process a lot easier for prospective cardholders, but what if you were really invested in earning that Bilt Cash? If you’re a cardholder by Dec. 31, 2026, you can opt out of this change and instead continue to earn Bilt Cash. This also means you’ll keep any eligible annual credits (like the hotel credit), but you won’t be able to switch between the flexible Bilt Cash and housing-only mode anymore.
The main factor to consider is how much you value the 4% Bilt Cash perk. If that’s a make-or-break feature of the card for you, just make sure you opt out before your card’s anniversary date.
Bilt 2.0 Housing-only rewards
| Points earned on housing payment | Minimum everyday spend as a % of monthly rent/mortgage (Example $2,000 rent) |
|---|---|
| 0.5X points | Minimum of 25% of monthly payment ($500) |
| 0.75X points | Minimum of 50% of monthly payment ($1,000) |
| 1.0X points | Minimum of 75% of monthly payment ($1,500) |
| 1.25X points | 100% or more of monthly payment ($2,000+) |
Source: Bilt
Upcoming ‘Daily Rewards’ feature
Bilt is gamifying day-to-day spending with the introduction of Daily Rewards. Launching Jan. 15, 2027, every on-time monthly rent or mortgage payment made through Bilt will earn a Daily Reward. Completing one daily activity with a qualifying Bilt neighborhood partner, like eating at a partnered cafe or a qualifying hot yoga class, will also provide you with a Daily Reward.
Each Daily Reward will provide you with two options to choose from. The rewards will vary drastically, from instant prizes like Bilt Points or Bilt Cash to collectibles that build toward a chance to win a grand prize*. Some examples of grand prizes include:
- $1,000,000 toward the purchase of a home
- 10,000,000 Bilt Points
- Free rent or mortgage for a year
- Free Lyft rides for a year
- Your dream getaway
*All prizes subject to terms, to be provided before Jan. 15, 2027.
You don’t need a Bilt card to partake in the Daily Rewards (you can participate as a Bilt member), but having one can significantly increase the amount of Bilt Points you can earn. The Bilt Blue Card (see rates and fees) is a great starting point for someone curious about the Bilt program, and Bilt now lets you easily upgrade and downgrade between the cards.
The Bilt Blue Card offers a solid entry card to the world of Bilt, offering 1X on everyday purchases without charging an annual fee.
- Earns ultra-valuable flexible rewards
- No annual fee
- Can earn up to 1.25X points on rent and mortgage payments
- Bilt Cash redemptions are complicated
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn up to 1.25X points on rent and mortgage payments with no transaction fee.
- 1X points on everyday spend.
- Welcome offer: $100 of Bilt Cash when you apply and get approved. Each Bilt Cash award expires 12 months after you earn it, on the last day of that month.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.
- Earn additional points through Bilt Neighborhood Benefits™ when you use your card at Bilt’s network of 50,000+ merchant partners.
- Other benefits: No foreign transaction fees, Cellular Wireless Telephone Protection, Purchase Assurance, MasterRental Coverage (See Guide to Benefits)
Balance transfer fee
Final thoughts
Bilt is making a conscious effort to simplify how its program works. From removing the Bilt Cash reward option to dropping the hotel credit in favor of blanket Bilt Cash, it’s clear that streamlining the user experience was top of mind.
Many of the changes, such as the Bilt Cash expiration timeline, are positive. Other changes, like losing the ability to earn 4% Bilt Cash on purchases, could be painful, especially if you value the Bilt Points Boost feature.
One downgrade that existing cardholders will have to work through is the limitations applied to using Bilt Cash for hotel bookings, as the maximum amount you’re able to redeem in a calendar year is being slashed.
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