New Bilt Credit Cards

Did you know there's a rewards program that gives you points for paying rent with your credit card? Did you know that same rewards program will offer points for paying your rent or mortgage with your credit card in February? Unless you've been living under a rock for the last 6 months, you already know about the three new Bilt Credit Cards that launch next month. Before last week, however, we knew very little about the cards. Based on internet rumors, reddit threads, and Instagram & reddit responses from Bilt, we can tie together enough loose ends to make calculated guesses about what happens this week.

(All information in this article has been collected independently by Travel on Point(s).)

New Card Rumors

Early last week, new Bilt Credit Card details were leaked, based on pages of code scraped from the internet. While ToP does not cover rumors, much of this info is now directly, or indirectly confirmed, or reasonably believed true. Those card details are as follows:

• Blue Card (No Annual Fee)
  • Welcome Bonus: $100 Bilt Cash 
  • 1x points on all spend, including rent and mortgage payments
  • 4% Bilt Cash on all regular spend (non rent/mortgage).
  • No foreign transaction fees
    
• Obsidian Card ($95 annual fee)
  • Welcome Bonus: $200 Bilt Cash 
  • Rewards:
    • 3x points earned on Dining or Grocery (up to $25,000 per year)
    • 2x points earned on Travel
    • 1x points earned on Rent payment
  • 4% Bilt Cash on all regular spend (non rent/mortgage).
  • $100 Bilt Travel Hotel credit (two $50 credits for the two halves of the year)
  • Cellular Telephone Protection
  • No foreign transaction fees
    
• Palladium Card ($495 annual fee)
  • Welcome bonus: $300 Bilt Cash, plus 50,000 points after $4,000 spend, also Gold status. 
  • Rewards:
    • 2x points earned on all spend
    • 1x points earned on Rent payment
  • 4% Bilt Cash on all regular spend (non rent/mortgage).
  • $400 Bilt Travel Hotel credit (two $200 credits for the two halves of the year)
  • $200 Bilt Cash credit each year as an annual benefit
  • Priority Pass Membership
  • No foreign transaction fees

What We Know

Three Bilt Cards

Based on prior press releases, we know that Bilt will offer three new card choices and that these cards are available to the public on February 7, 2026. You can read all about those press releases here. Also, based on updates in the Bilt Rewards app, we know that on January 14, 2026, Bilt will “reveal the new card value propositions and open pre-order” opportunities for existing cardholders.

Introduction of Bilt Cash

In 2025, Bilt announced that Milestone Rewards are ending and replaced with Bilt Cash. The details of this secondary Bilt loyalty currency are scarce, but launches around the same time as these new cards.

Rocky Landscape for Paying Rent & Mortgages

At launch, the Bilt Rewards Mastercard was backed by Evolve Bank. It quickly transitioned to Wells Fargo, where it began losing $10,000,000 per month for the bank and Wells Fargo ended the relationship early. At the same time, Bilt Rewards regularly discussed adding mortgage payments as a miles-earning option on its credit cards, but it proved time-intensive and very difficult. Meanwhile a Bilt Rewards competitor, Mesa, offered free points for mortgage payments, but suddenly closed all accounts on December 12, 2025 and ended the Mesa program entirely.

Response From Bilt

Based on an Instagram and Reddit response from Richard Kerr, the General Manager of Bilt Travel, we also know 1) all three cards will continue to not charge a transaction fee for making rent or mortgage payments, 2) a “premium card” is confirmed, 3) leaked details of the 3 cards are, in fact, 3 of the 4 drafts of future Bilt cards, and 4) Bilt predicted the sales of bananas in the USA would decline after the launch of these new cards.

What We Don't Know (But Can Infer)

Whew, there is a lot to break down. I think there are four main points to consider:

Prior Business Models are Gone

First, if a rewards program or credit card had a sustainable, profitable model to reward rent and/or mortgage payments, it has not existed prior to the launch of these cards. Mesa is shut down, Wells Fargo lost $10,000,000/month for the old Bilt Mastercard, and Bilt has worked for years behind the scenes to integrate mortgages into their business model. Therefore, I think we must assume Bilt, and its new card-backing bank, Cardless, believes these new Bilt credit cards are profitable, which, again, we can assume will look different from the prior card. These changes are necessary from a profitability and sustainability standpoint.

Rent/Mortgage Payments Remain Fee-Free (With a Twist)

Second, Kerr explicitly states that there will continue to be “no transaction fees” for making rent or mortgage payments. This statement is very important, as the current Bilt Mastercard offers transaction fee-free rent payments, but if you use any credit card other than the Bilt Rewards credit card, you incur a 3% interchange fee for using a credit card. I expect rent and mortgages to continue to be transaction fee-free, but would expect interchange fees to occur on all credit cards. But that is why there is Bilt Cash?

A Premium Card to Rule Them All?

Third, all signs point to the premium card being the crown jewel of Bilt Rewards and the new Bilt credit cards. This is the only card Kerr specifically addressed in his response to all the rumors.

Profitability Rests on Credit Card Spend (For Both Bilt & Consumer)

Fourth, it is safe to assume that Bilt 2.0 is all about ongoing spend. Kerr predicted a decline in banana sales (I laughed a bit too much at this) and that is a major hint at what is coming. I always wondered how much the prior system was abused (earn Bilt Rewards for rent payments and other credit card spend after 5 transactions in any amount in a statement period) and it appears it was greater than I realized. The idea that you could earn 100,000 Bilt Rewards per year, which was the old annual cap on rewards for rent payments, simply by buying 5 bananas per month in separate transactions is laughable. If you say a banana is $1 each, you'd earn 100,060 Bilt Rewards per year (worth $2,000+) for only $60 annual credit card spend. This is ludicrous and helps explain why the business model was wholly unsustainable. We can expect folks that spend on Bilt 2.0 cards to reap the rewards and those that don't, won't.

Value in the New Bilt Credit Cards

We'll have full breakdowns of all three cards once the official news is released. However, based on the rumors, and Richard Kerr's response, we want to give everyone a headstart on the analysis of each card as a long-term keeper card. For this, we assume the leaked card earn rates, Bilt Cash earn rates, 1x on rental/mortgage payment earn rate, and that Bilt Cash can offset 3% credit card interchange fees for rent/mortgage payments on a 1 to 1 basis is all true. Any corrections to any of these factors will change the analysis.

We outline the total earn rates for $500, $1,000, $2,000 and $5,000 monthly spend on each credit card.

Blue Card

There is little reason to apply outright for this card, unless you are completely adverse to annual fees. Even for existing cardholders, I would not use your soft pull to open a 2.0 card on this no annual fee card. Having said that, 2.33x earnings on all spend is the best earn rate of any no annual fee card, beating the 1.5x earn on the Chase Freedom Unlimited and 2x on the Citi Double Cash. Here's the math breakdown:

• $500 monthly spend
  • 500 Bilt Rewards (1x on all spend)
  • $20 Bilt Cash (enough to offset $666.67 mortgage/rent payment at 3% interchange fee)
  • 666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 1,166 total Bilt Rewards earned at no cost
  • 2.332x earning
• $1,000 monthly spend
  • 1,000 Bilt Rewards (1x on all spend)
  • $40 Bilt Cash (enough to offset $1,333.33 mortgage/rent payment at 3% interchange fee)
  • 1,333 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 2,333 total Bilt Rewards earned at no cost
  • 2.333x earning
• $2,000 monthly spend
  • 2,000 Bilt Rewards (1x on all spend)
  • $80 Bilt Cash (enough to offset $2,666.67 mortgage/rent payment at 3% interchange fee)
  • 2,666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent Mortgage)
  • 4,667 total Bilt Rewards earned at no cost
  • 2.333x earning
• $5,000 monthly spend
  • 5,000 Bilt Rewards (1x on all spend)
  • $200 Bilt Cash (enough to offset $6,666 mortgage/rent payment at 3% interchange fee)
  • 6,666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent Mortgage)
  • 11,666 total Bilt Rewards earned at no cost
  • 2.333x earning

Obsidian Card

This card makes sense for those that are okay with juggling bonus categories to save on annual fees, those that do not have high monthly spend for this card, or those that can really maximize the 3x dining or grocery categories. If you can maximize the 3x categories, this card is likely the winner for you (earnings of 4.33x on all spend, per analysis below). We assume each level of spending is 1/3rd in 3x spend, 1/3rd in 2x spend, and 1/3rd in 1x spend.

• $500 monthly spend
  • 1,000 Bilt Rewards (1/3rd each in 3x, 2x and 1x earnings)
  • $20 Bilt Cash (enough to offset $666.67 mortgage/rent payment at 3% interchange fee)
  • 666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 1,666 total Bilt Rewards earned at no cost
  • 3.33x earning
• $1,000 monthly spend
  • 2,000 Bilt Rewards (1/3rd each in 3x, 2x and 1x earnings)
  • $40 Bilt Cash (enough to offset $1,333.33 mortgage/rent payment at 3% interchange fee)
  • 1,333 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 3,333 total Bilt Rewards earned at no cost
  • 3.33x earning
• $2,000 monthly spend
  • 4,000 Bilt Rewards (1/3rd each in 3x, 2x and 1x earnings)
  • $80 Bilt Cash (enough to offset $2,666.67 mortgage/rent payment at 3% interchange fee)
  • 2,666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 6,667 total Bilt Rewards earned at no cost
  • 3.33x earning
• $2,083 monthly spend all in Grocery category (capped at $25,000/year)
  • 6,249 Bilt Rewards (3x on grocery spend)
  • $83.32 Bilt Cash (enough to offset $2,777.33 mortgage/rent payment at 3% interchange fee)
  • 2,777 Bilt Rewards on Rent/Mortgage payment (1x on Rent/Mortgage)
  • 9,026 total Bilt Rewards earned at no cost
  • 4.33x earning
• $5,000 monthly spend
  • 10,000 Bilt Rewards (1/3rd each in 3x, 2x and 1x earnings)
  • $200 Bilt Cash (enough to offset $6,666 mortgage/rent payment at 3% interchange fee)
  • 6,666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 16,667 total Bilt Rewards earned at no cost
  • 3.33x earning

Palladium Card

This is a premium card with simplistic earnings and the ability to earn bucketloads of the most valuable currency in the points and miles world.

• $500 monthly spend
  • 1,000 Bilt Rewards (2x on all spend)
  • $20 Bilt Cash (enough to offset $666.67 mortgage/rent payment at 3% interchange fee)
  • 666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 1,666 total Bilt Rewards earned at no cost
  • 3.33x earning
• $1,000 monthly spend
  • 2,000 Bilt Rewards (2x on all spend)
  • $40 Bilt Cash (enough to offset $1,333.33 mortgage/rent payment at 3% interchange fee)
  • 1,333 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 3,333 total Bilt Rewards earned at no cost
  • 3.33x earning
• $2,000 monthly spend
  • 4,000 Bilt Rewards (2x on all spend)
  • $80 Bilt Cash (enough to offset $2,666.67 mortgage/rent payment at 3% interchange fee)
  • 2,666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 6,667 total Bilt Rewards earned at no cost
  • 3.33x earning
• $5,000 monthly spend
  • 10,000 Bilt Rewards (2x on all spend)
  • $200 Bilt Cash (enough to offset $6,666 mortgage/rent payment at 3% interchange fee)
  • 6,666 Bilt Rewards on Rent/Mortgage Payment (1x on Rent/Mortgage)
  • 16,667 total Bilt Rewards earned at no cost
  • 3.33x earning

Analysis

It goes without saying that earning 2.33 to 3.33 Bilt Rewards per dollar is insanely good. We've all heard “I wish there was a 2x Hyatt card” at least a thousand times. That card has now arrived and there are three options to choose from.

While it seems the Obsidian card has identical earning rates to the Palladium card at 3.33x per dollar, remember that our analysis includes spend on the Obsidian card at 1/3 in 3x (grocery OR dining), 1/3 in 2x (travel) and 1/3 in 1x. That is a lot of mental gymnastics on a monthly basis, Bilt has a very, very narrow definition of “travel,” and it is highly unlikely anyone consistently matches that breakdown perfectly each month. If you have high dining or grocery spend, and use the Obsidian card ONLY for those 3x expenses, you earn 4.33x on all non-rent/mortgage spend, which is the highest earn of any card on the market for the grocery category. For everyone else, you're likely better with a different card.

For those reasons, along with the rumored signup bonus on the Palladium card, the premium Palladium card is the winner in this scenario. Yes, a $495 annual fee is steep, but the ability to earn a net 3.33x on all spend is insanely good. No other card comes close to these earnings on a daily basis. Throw in a signup bonus, annual Bilt cash rewards, hotel credits and other perks and I'm excited for what this premium card has to offer. I think it makes sense for most existing Bilt cardholders to apply (remember: it is only a soft pull for existing cardholders, but it will take up a 5/24 spot) for the Palladium card. A signup bonus and 3.33x earnings on non-rent/mortgage spend is just too good to pass up!

New Bilt Credit Cards: ToP Thoughts

While much is still unknown about the new Bilt Credit Cards launching on January 14, 2026, many details are now coming into focus. It is clear that the rent/mortgage rewards landscape is changing and that is a necessary step to longterm sustainability. We anticipate transaction fee-free rent/mortgage payments to continue, but an interchange fee applied to any credit card payments. This interchange fee is offset with accrued Bilt Cash rewards, which can help vault earnings on the three credit cards to between 2.33 and 3.33 Bilt Rewards per dollar, which is industry-leading. There's lots of exciting stuff coming this week, so stay tuned for our full review of each card once all the details are known.

Are you excited for the launch of these three new Bilt Credit Cards? Come over to the Facebook group and let us know.