We know that Bilt will be launching three new credit cards in the near future, in partnership with Cardless. This follows Bilt and Wells Fargo cutting ties, as Wells Fargo was reportedly losing a lot of money on the partnership.
We know that Bilt plans to open “pre-order” for its new cards as of January 14, 2026, with the plan being for the new cards to formally launch as of February 7, 2026. As you’d expect, there’s a lot of interest in what these cards will look like, and in particular, how rent payments will be rewarded, since that’s a key part of the value proposition.
Along those lines, there are some interesting leaked details and rumors that are swirling…
Rumored Bilt Card 2.0 details… could they be accurate?
Bilt really hasn’t done a great job controlling the narrative around the launch and benefits of the new card portfolio, when you consider that initially the card details were supposed to be announced last fall, instead of just a few weeks before the card actually launches. So this has caused a lot of speculation online.
A Reddit user shares reported details about what Bilt’s new card portfolio will look like, based on looking at code on Bilt’s website. Crucially, this actually doesn’t directly address how rent will be rewarded. The theory is that cardmembers will essentially “pay” the 3% fee on rent payments (which Bilt charges if paying with non-Bilt cards), but can offset that using Bilt Cash. Here are the reported details, based on the code:
Bilt Blue Card
Annual fee: $0
Welcome bonus: $100 Bilt Cash
Rewards: 4% Bilt Cash on everyday spend, 1X points on rent, mortgage, and everyday spend
Benefits: No foreign transaction fees, Neighborhood Benefits program, use Bilt Cash to waive rent and mortgage transaction feesBilt Obsidian Card
Annual fee: $95
Welcome bonus: $200 Bilt Cash
Rewards: 4% Bilt Cash on everyday spend, 3X points on dining or grocery (choice of one; grocery up to $25K/year), 2X points on travel, 1X points on rent, mortgage, and everyday spend
Benefits: $100 Bilt Travel hotel credit ($50 every six months), Cellular Telephone Protection, use Bilt Cash to waive rent and mortgage transaction feesBilt Palladium Card
Annual fee: $495
Welcome bonus: 50,000 Bilt Points + Gold Status (after $4,000 spend in first 3 months), $300 Bilt Cash
Rewards: 4% Bilt Cash on everyday spend, 2X points on everyday spend, 1X points on rent and mortgage
Benefits: $400 Bilt Travel hotel credit ($200 every six months), $200 Bilt Cash annually, Priority Pass, use Bilt Cash to waive rent and mortgage transaction fees
This user explains that they believe the above version is correct, since Obsidian and Palladium are listed everywhere in the code. However, they also point out that there seems to be some other cards in the code, with different names, so in the interest of being thorough, here are those details:
Bilt Home ($0)
- 0.5X Rent
- 1X Everything else
- 10 transactions to waive fee
Bilt Everyday ($95)
- 0.75X Rent
- 3X Neighborhood Rewards Spend
- 1.5X Everything else
- 10 transactions to waive fee
Bilt Neighborhood ($495)
- 1X rent
- 3X Dining
- 2X Travel
- 6X Neighborhood Rewards spend
- 10 transactions to waive fee
Version 3
Bilt Home ($0)
- 0.5X Rent
- 1.5X Everything else
- Spend $1,000 in a statement to waive transaction fees on rent and mortgage
Bilt Titanium ($95)
- 1X points on rent
- 5X points on Neighborhood Rewards spend
- 1X points on all spend
- Spend $2,000 in a statement to waive transaction fees on rent and mortgage
Bilt Platinum Card ($495)
- 1.25X points on rent
- 2X points on dining
- 5X points on travel
- 2X points on Neighborhood Rewards spend
- Spend $2,500 in a statement to waive transaction fees on rent and mortgage
My take on these potential Bilt Card 2.0 details
Of course let me caution that the above are just rumors, and it’s anyone’s guess what the actual details of the card portfolio look like. We know that Bilt has committed to continuing to award points for paying rent, even on the no annual fee product. However, the company has stopped short of sharing at what rate points will be earned, and what the requirements will be to unlock points earning.
What made the Bilt and Wells Fargo partnership so lucrative for consumers but so unprofitable for Wells Fargo was how the rewards were structured. In order to earn one point per dollar spent on rent, you had to have at least five transactions per billing cycle.
The hope was that this would cause people to shift a lot of their spending to the Bilt Card, and put the card at the front of their wallets. In reality, many people simply made five small purchases per billing cycle, and then earned thousands of points on their rent.
I think it was a given that the underlying economics of the rewards structure had to change. The question is, how can Bilt continue to keep its card portfolio lucrative, while encouraging people to spend more on cards?
So it seems that the concept here is that you earn 4% Bilt Cash on all spending (in addition to rewards), which can be used to offset the (likely) 3% fee for paying by credit card. So the idea is that you need to spend at least 75% as much on the card each billing cycle as the amount you spend on rent.
In other words, if your rent is $4,000 per month, you’d need to spend at least $3,000 per billing cycle on the card to cover the cost of that payment. That would certainly change the economics of the card, though it could still be lucrative.
The issue is the general credit card fatigue that people have. How many travel portal hotel credits do you really want per year? How many credit cards do you want to focus on maximizing every billing cycle? The other thing that stands out to me is that this all just seems very complex. Then again, I guess that has also become pretty normal for credit cards nowadays.
Bottom line
While we’ll see how this plays out, we have some rumored details about what the new Bilt Card 2.0 card portfolio could look like. The cards could have annual fees of $0, $95, and $495, with a variety of predictable perks that could offset the fees.
Of course the big question involves rewards for rent payments. If these details are to be believed, you’ll have to spend around 75% of your rent amount on the card each billing cycle in order to be able to pay your rent with no fee. That’s certainly much less lucrative than the current setup, but also not a surprising direction to see, given that the old economics aren’t sustainable.
What do you make of these rumored Bilt Card 2.0 details?
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