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Bilt Card 2.0: 3 New Cards + Mortgage Rewards Coming February 2026
July 1, 2025
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The information for the Bilt Mastercard® has been collected independently by Kudos. The card details on this page have not been reviewed or provided by the card issuer.
For renters paying $2,000/month: That's $24,000 in annual rent earning just 24,000 Bilt Points (worth ~$360 in travel). But what if you could earn points on mortgage payments too?
Bilt Rewards is launching three new credit cards on February 7, 2026, marking the biggest overhaul since the program started. The headline feature? You'll finally be able to earn Bilt Points on eligible mortgage payments, regardless of who your mortgage lender is.
This isn't just a cosmetic refresh. With three card tiers ($0, mid-tier premium, and $495 annual fee options), mortgage earning capabilities, and a transition from Wells Fargo to Cardless, current Bilt cardholders need to understand what's changing and which card makes financial sense for their situation.
Who this guide is for:
- Current Bilt Mastercard® holders deciding whether to upgrade
- Renters considering their first rewards card
- Homeowners who want to earn points on mortgage payments
- Anyone paying $1,500+ monthly in housing costs
What's Changing: 3 New Bilt Cards Coming February 2026
Bilt is replacing the single no-fee card with three distinct options:
Card Tier Breakdown
$0 Annual Fee Card
- Maintains core rent rewards (up to 100,000 points annually on rent)
- Similar structure to current Bilt Mastercard® (See Rates & Fees)
- Best for: Renters with basic spending needs
Mid-Tier Premium Card (Price TBA)
- Enhanced earning rates (details announced January 2026)
- Additional travel benefits
- Best for: Moderate spenders who travel occasionally
$495 Annual Fee Card
- Premium travel benefits and higher earning potential
- Expanded protections and credits
- Best for: Heavy spenders and frequent travelers
Bilt founder Ankur Jain emphasized these won't follow the "super high fee with a bunch of coupons" model—expect meaningful benefits that justify the cost.
Key deadline: New applications for the current Wells Fargo-issued Bilt Mastercard® closed November 5, 2025. Full details on the three new cards will be revealed in early January 2026.
Current Bilt Card: Is It Worth It Now?
Before the new cards launch, let's examine whether the current Bilt Mastercard® (See Rates & Fees) delivers value.
[[ SINGLE_CARD * {"id": "2990", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Renters", "headerHint" : "Rewards on Rent Payments" } ]]
ROI Calculation Example
Scenario: You pay $2,000/month rent and spend $800/month on dining/travel
Annual earning:
- Rent: 24,000 points ($2,000 × 12 months)
- Dining/travel: 19,200 points ($800 × 12 × 2X average)
- Other spending: 3,600 points ($300 × 12)
- Total: 46,800 points/year
Value: At conservative 1.5 cents per point = $702 in annual value
The Mortgage Game-Changer & Expanded Earning
Why Mortgage Earning Matters
The numbers: U.S. median monthly mortgage payment is $2,090. If Bilt offers 1X points on eligible mortgage payments with similar caps to rent, that's potentially:
- 25,080 additional points annually ($2,090 × 12)
- Worth ~$376 in travel redemptions (at 1.5 cpp)
- Combined rent + mortgage earning = 49,000+ points/year
This expansion through United Wholesale Mortgage partnership means Bilt isn't just for renters anymore—it's positioning itself as a comprehensive housing rewards program.
Earning Scenarios
Renter → Homebuyer:
- Years 1-3: Earn on $2,000/month rent = 72,000 points
- Years 4-30: Earn on $2,500/month mortgage = 750,000+ points
- Lifetime value: 822,000+ points = $12,330+ in travel
Current homeowner:
- Retroactive earning: None (mortgage earning starts Feb 2026)
- Forward earning: Up to 100,000 points annually on eligible mortgage payments
- Premium card benefits may increase earning rate
Expanded Housing Rewards
Beyond mortgages, Bilt is adding:
- HOA fees: Through Douglas Elliman and Century Living partnerships
- Student housing: Via Blackstone's American Campus Communities
- Condo fees: Earn on additional housing-related payments
Who Should Apply? Who Should Wait?
Apply for Bilt Card 2.0 If:
✅ You pay $1,500+ monthly in rent or mortgage
The math: $1,500 × 12 = 18,000 points minimum ($270+ value). Even the $0 fee card makes sense.
✅ You're planning to buy a home in the next 1-3 years
Start earning on rent now, continue earning on your mortgage later. This continuity is Bilt's unique advantage.
✅ You value travel redemptions
With 17 airline and 5 hotel transfer partners at 1:1 ratios, points can be worth 1.5-2+ cents each for travel.
✅ You want consolidation
One card for rent/mortgage + dining + travel simplifies your wallet compared to managing 3-4 specialized cards.
✅ You can easily hit 5 transactions monthly
The earning requirement is manageable if you use the card for regular purchases.
Wait or Skip If:
❌ Your rent is under $1,000/month
With 12,000 annual points ($180 value) and the 5-transaction requirement, other cash back cards may offer better simplicity-to-value ratio.
❌ You can't consistently make 5 transactions monthly
Miss this requirement and you earn 0 points on rent that month.
❌ You prefer cash back over travel points
If you don't fly or stay in hotels, Bilt's value proposition weakens.
❌ You want immediate clarity
If you hate uncertainty, wait until January 2026 when full details are announced before deciding on a premium tier.
How to Transition From Your Current Card
For Current Bilt Cardholders
Good news: This transition is easier than the 2022 Evolve → Wells Fargo switch.
Timeline:
- Now - January 2026: Use current card normally
- Early January 2026: Full details announced on 3 new cards
- January - February 6, 2026: Choose your new card tier
- February 7, 2026: Automatic transition to new card
Transition Details
What stays the same:
✅ Card number (no need to update autopay or subscriptions)
✅ Apple Pay / Google Pay (auto-update on Feb 7)
✅ Points balance transfers over
✅ Only soft credit pull required for current holders
What changes:
⚠️ Must choose one of three new cards to continue earning Bilt Points
⚠️ Can transfer existing balance to new Bilt 2.0 Card (subject to approval)
Action required:
- Watch for early January announcement
- Compare three card tiers against your spending
- Select your preferred card through Bilt app
- Verify autopay settings after February 7 transition
For New Applicants
If you never had the Wells Fargo Bilt card, you'll apply fresh in February 2026. Cardless typically approves based on:
- 60-day spacing between Cardless card approvals
- 45-day wait after any decline
- One card per brand limit
- Standard creditworthiness factors
Bilt Card 2.0 vs. Competing Cards
Rent Rewards Alternative
Bilt Card 2.0 ($0 fee) vs. Competitors:
No other major card offers points on rent without transaction fees. Your alternatives are:
- Pay rent with 2% fee using rewards card (2X-3X earning must exceed fee cost)
- Forego rent rewards entirely
- Use rent payment services (Plastiq, etc.) with 2.5%+ fees
Winner: Bilt has no real competition for rent rewards at scale.
Chase Sapphire Preferred® Card
[[ SINGLE_CARD * {"id": "509", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Exceptional Travel Value"} ]]
[[ SINGLE_CARD * {"id": "3023", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Beginner Travelers", "headerHint": "0 Annual Fee"} ]]
Bottom line: If rent/mortgage earning is your priority, Bilt wins. For maximum travel category earning without rent, consider Wells Fargo Autograph. For premium travel perks, Chase Sapphire Preferred remains strong.
Mortgage-Specific Context
Currently, no other major credit card lets you earn rewards on mortgage payments without fees or workarounds. Bilt's 2026 mortgage feature creates a new category.
Potential total annual earning:
- Rent/mortgage: up to 100,000 points
- Dining/travel bonuses: 20,000-40,000 points
- Other spending: 10,000-20,000 points
- Total: 130,000-160,000 points/year ($1,950-$2,400 in travel value)
The Numbers: Pros, Cons & ROI Breakdown
Pros (With Specific Numbers)
- Unique earning opportunity: $2,000/month housing × 12 = 24,000 points ($360-$480 value). No other card offers this.
- $0 fee baseline option: Unlike other premium credit cards, you can start earning immediately without annual fee commitment.
- Seamless transition promise: Card number stays the same = zero hassle updating payment methods across subscriptions and autopay.
- 17 airline + 5 hotel transfer partners: More flexibility than Chase (14 partners) or Amex (21, but with transfer bonuses). Good middle ground at 1:1 ratios.
- Mortgage rewards (starting 2026): Potential to earn 200,000+ points over 10 years on mortgage payments alone ($3,000-$4,000 value).
Cons (With Transparency)
- 5-transaction monthly requirement: Miss it and you earn 0 points on rent that month. That's potentially $30-$40 in lost value each time you forget.
- Premium tier pricing unknown: Can't calculate break-even on $95 or $495 cards until January reveals full benefits. Mid-tier could cost $10-$20/month with unclear value.
- Earning caps still apply: 100,000 point annual cap on rent/mortgage = your $3,000/month mortgage earns full points for just 8.3 months.
- Transfer partner ratios: 1:1 is solid but not exceptional. Amex occasionally offers 30-40% transfer bonuses. Bilt rarely does.
- Cardless track record: While successful with airline co-brands, Cardless hasn't operated a major general-purpose card at Bilt's scale. Potential for growing pains.
Should You Upgrade to Premium?
$495 annual fee break-even math:
Need to earn an extra 33,000 points over the $0 card ($495 ÷ 1.5 cpp) just to break even.
You'd need:
- Higher earning rates (2X vs 1X on more categories)
- Statement credits totaling $300+ annually
- Premium benefits you'll actually use ($200+ value in travel credits, lounge access, etc.)
Verdict: Wait for January details before committing. The $0 card likely serves 80% of users well.
Timeline & Action Steps
Key Dates
- Now - January 2026: Use current Bilt card normally, maximize rent rewards
- Early January 2026: Three new cards revealed with full earning structures and benefits
- January - February 6: Decision window for current cardholders
- February 7, 2026: Official Bilt Card 2.0 launch
- Throughout 2026: Mortgage payment features roll out with partner integrations
What to Do Right Now
- Current cardholders: Continue using your Bilt Mastercard®. Don't close it yet.
- Track your spending: Calculate annual rent + potential mortgage + dining/travel to estimate which tier makes sense.
- Enable app notifications: You'll get early access to the January announcement with selection priority.
- Consider your housing timeline: Buying a home in 2026-2027? The mortgage earning makes Bilt more compelling long-term.
- Join the waitlist: Get early notification at bilt.com/card
Urgency Factor
With Bilt's $10.75 billion valuation and United Wholesale Mortgage's strategic investment, this isn't a gimmick—it's a serious play to dominate housing rewards. Early adopters of the premium cards may get:
- Launch bonuses (unconfirmed but standard industry practice)
- Grandfathered benefits before future devaluations
- First access to mortgage earning features
The $0 card has no downside. The premium cards require January details before committing.
FAQ
Will I need to reapply for Bilt Card 2.0?
Current Wells Fargo Bilt cardholders will undergo only a soft credit pull (doesn't affect credit score) when selecting their new card. If you're a new applicant without the current card, you'll complete a full application with hard credit pull.
What happens if I don't choose a new Bilt card?
Your Wells Fargo account automatically converts to the Wells Fargo Autograph® Card, which earns on many categories—but won't earn Bilt Points. You'll receive a new card number.
Can I upgrade between the three Bilt card tiers later?
Specific upgrade policies haven't been announced. Typically, Cardless allows card changes but expect another soft or hard pull. Wait for January details.
Will the 5-transaction requirement remain?
Yes, you must use the card 5 times each statement period to earn points on eligible rent or mortgage payments.
How will mortgage payment rewards work exactly?
Details will be announced in January 2026. Bilt partnered with United Wholesale Mortgage and will use "methods very similar to what we're doing with property managers" for rent. Expect up to 100,000 points annually on eligible mortgage payments.
Do Bilt Points expire?
Points remain valid for the life of the account. No expiration as long as your account stays open and in good standing.
Will transfer partners change?
No changes announced. Current 1:1 ratios with 17 airlines and 5 hotels remain, including Alaska, United, Hyatt, and Marriott.
What's the best way to use Bilt Points?
Transfer to airline partners for business/first class flights typically yields 1.5-2+ cents per point. Hotel transfers offer 0.8-1.2 cpp. Direct Bilt travel booking provides ~1.25 cpp. Avoid merchandise redemptions (<0.5 cpp).
Bottom Line
Bilt Card 2.0 transforms the rent rewards pioneer into a comprehensive housing rewards program. The addition of mortgage earning, three card tiers, and Cardless partnership positions Bilt for major expansion beyond its current renter base.
For the $0 annual fee card: This is a no-brainer if you pay rent or will have a mortgage starting 2026. Even earning just 1X on housing costs generates $300-$500 annually in value that no competing card offers.
For premium tiers: Wait for the January 2026 details. Without knowing exact earning structures, statement credits, and benefits, you can't calculate break-even. The $495 card needs to deliver $800+ in annual value to justify the cost.
Current cardholders: You're getting a rare seamless transition—same card number, soft pull only, and the chance to upgrade or stay with $0 fee. Use the next two months to audit your spending and determine which tier fits.
New applicants: Sign up for early access at bilt.com/card to get notified in January. The $0 card will likely have minimal approval barriers, while premium cards may require higher income/credit scores.
The mortgage earning feature arriving in 2026 is genuinely innovative. If you're paying $2,000-$3,000 monthly on housing, Bilt Card 2.0 could earn you 150,000-200,000 points annually—worth $2,250-$4,000 in quality travel redemptions. That's transformative for a category that previously earned nothing.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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