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Bilt Card 2.0: The End of 'Team Four Bananas' and What Replaces It
July 1, 2025
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One of the biggest questions surrounding the Bilt Card 2.0 transition is the new minimum spend requirement. With official details dropping January 14, 2026, speculation is building about what "minimum amount of non-rent spend" actually means and how it will impact current cardholders.
The End of "Team Four Bananas"
Bilt Rewards announced that Bilt Card 2.0 will launch on February 7, 2026, marking a significant evolution of the popular rent and rewards program. Under the current Bilt Mastercard system, cardholders need to make just 5 transactions per month to unlock points earning on rent. This led to creative strategies like buying four individual bananas at the grocery store plus one other small purchase, hence the nickname "Team Four Bananas." That loophole is closing. Starting February 7, 2026, Bilt Card 2.0 will introduce a "Bilt Cash" system that fundamentally changes how rent and mortgage payments work. They will no longer be free.
Understanding Bilt Cash: The Key to Bilt 2.0
The biggest change in Bilt 2.0 is the introduction of Bilt Cash, which replaces the free rent payment model:
How Bilt Cash Works:
- You earn 4% Bilt Cash on all regular (non-rent/mortgage) spending
- Rent and mortgage payments will now incur a 3% fee
- Bilt Cash can be used to offset these 3% fees
The Math: If you spend $750 per month on regular purchases, you earn $30 in Bilt Cash (4% of $750). This $30 can offset the 3% fee on a $1,000 rent payment (which would normally cost $30). Essentially, you need to spend 75% of your rent/mortgage amount to make the payment "free."
Example: With $4,000 monthly rent, you'd need to spend $3,000 on regular purchases to earn $120 in Bilt Cash, which offsets the $120 fee (3% of $4,000).
Other Bilt Cash Uses:
- Bilt Travel hotel bookings
- Lyft credit
- Select fitness classes
- GoPuff
- Select dining partners
- Bilt Collection purchases
The Three New Bilt Card 2.0 Options
Based on recent details, here's what we know about each card tier:
- Blue Card (No Annual Fee)
- Welcome Bonus: $100 Bilt Cash
- Earning: 1x points on all spend, including rent and mortgage payments
- Bilt Cash: 4% on all regular (non-rent/mortgage) spend
- Benefits: No foreign transaction fees
- Note: When earning points on rent with any Bilt card tier, you can earn up to 100,000 points in a calendar year
- Obsidian Card ($95 Annual Fee) - Mid-tier option with more benefits
- Welcome Bonus: $200 Bilt Cash
- Earning:
- 3x points on Dining OR Grocery (you choose one category)
- 2x points on Travel
- 1x points on Rent payments
- Bilt Cash: 4% on all regular (non-rent/mortgage) spend
- Benefits:
- $100 Bilt Travel Hotel credit (two $50 credits for each half of the year)
- Cellular Telephone Protection
- No foreign transaction fees
- Positioning: Appears to be the "sweet spot" Bilt wants to drive adoption toward
- Palladium Card ($495 Annual Fee) - Premium card with expanded perks
- All three cards will feature one groundbreaking change: the ability to earn Bilt Points on eligible mortgage payments, regardless of your mortgage provider. This transforms Bilt from a rent-focused card into a comprehensive housing rewards program for both renters and homeowners.
- Welcome Bonus: $300 Bilt Cash + 50,000 points after $4,000 spend + Gold status
- Earning:
- 2x points on all spend
- 1x points on Rent payments
- Bilt Cash: 4% on all regular (non-rent/mortgage) spend
- Benefits:
- $400 Bilt Travel Hotel credit (two $200 credits for each half of the year)
- $200 Bilt Cash credit each year as an annual benefit
- Priority Pass lounge access
- No foreign transaction fees
- Question remains: Will premium cardholders paying $495/year still need to meet the 75% spend threshold if they want free rent payments?
All three cards will feature one groundbreaking change: the ability to earn Bilt Points on eligible mortgage payments, regardless of your mortgage provider. This transforms Bilt from a rent-focused card into a comprehensive housing rewards program for both renters and homeowners.
What Could the Minimum Spend Be?
Based on the Bilt Cash system, here's how the spending requirement appears to work:
The 75% Rule: To make rent/mortgage payments "free" (fully offset the 3% fee), you need to spend approximately 75% of your housing payment amount on regular purchases each month.
Examples by Housing Cost:
- $1,000 rent = need $750 regular spend → earn $30 Bilt Cash → offsets $30 fee
- $2,000 rent = need $1,500 regular spend → earn $60 Bilt Cash → offsets $60 fee
- $4,000 rent = need $3,000 regular spend → earn $120 Bilt Cash → offsets $120 fee
Reports suggest Bilt may also test versions with either a fixed spend requirement or 10 transactions per month (similar to the old system) with variable rent earning rates (0.5x-1.25x depending on the card).
Understanding Bilt's Earning Structure
With the new system, instead of the 5-transaction requirement, you'll earn 4% Bilt Cash on all non-housing spending that can offset the 3% fee on rent/mortgage payments. Additionally, Bilt's popular Rent Day promotion offers double points on all purchases (excluding rent, up to 1,000 bonus points). How this feature adapts to the new Bilt Cash structure remains to be seen.
Key Questions to Watch For (January 14, 2026)
When Bilt reveals full details on January 14, we will help answer these questions for you:
- Will the 75% spend requirement be the final structure, or will there be alternative qualification methods?
- Can you carry over unused Bilt Cash to future months, or does it expire?
- Does minimum spend vary by card tier? If the $495 card still requires significant spend beyond the annual fee, that changes the value proposition dramatically.
- Does the requirement apply to rent AND mortgage? Or just one or the other? Remember, earning on rent is capped at up to 100,000 points in a calendar year.
- Are there exemptions for Bilt status holders? The rumor mill suggests status members might get preferential treatment.
- If you don't meet the spend requirement, do you pay the full 3% fee on rent, or can you use partial Bilt Cash?
- Can Kudos Boost purchases count toward the minimum? Since Boost offers stack on top of card rewards, this could be a strategic way to meet thresholds while maximizing earnings.
The Good News: This Transition is Seamless
If you currently have the Wells Fargo Bilt Mastercard®, here's what makes this transition remarkably smooth:
- No hard credit pull required - Existing cardholders can select any of the three new cards with only a soft inquiry on their credit report
- Your card number stays the same - No need to update subscriptions, autopay settings, or recurring payments
- Digital wallets auto-update - Apple Pay and Google Pay will automatically refresh with your new card information on February 7
- Balance transfers available - You can transfer any balance from your Wells Fargo account to your new Bilt Card 2.0 (subject to approval)
Important Dates for the Transition
- January 14, 2026 - Full product details will be revealed and pre-orders open for existing cardholders
- January 14-30, 2026 - Two-week selection window for current cardholders to choose their new card
- January 30, 2026 - DEADLINE to select your new card (or you'll be converted to the Wells Fargo Autograph® Card)
- February 6, 2026 - New cards delivered to those who selected during the window; last day current Wells Fargo Bilt Cards work
- February 7, 2026 - Bilt Card 2.0 officially launches
What Happens to Your Wells Fargo Bilt Mastercard?
You have three options:
- Transition to Bilt Card 2.0 - Select one of the three new cards and transfer your balance
- Close the Wells Fargo account - Simply close your account if you don't want to continue
- Convert to Wells Fargo Autograph Visa - If you don't select a new Bilt card by January 30, 2026, your account automatically becomes an Autograph Visa card with a DIFFERENT CARD NUMBER (this card earns Wells Fargo Rewards points, not Bilt Points, and requires updating all autopay and subscriptions)
After February 6, 2026, you can still access statements and make payments on any remaining Wells Fargo balance by visiting wellsfargo.com or calling 1-833-404-2272.
If you're considering applying:
- Wait for January 14 details before signing up for notifications
- The mortgage rewards feature is game-changing, but only if the minimum spend requirement is realistic
- New applicants will face a hard credit pull (unlike current cardholders transitioning)
[[ SINGLE_CARD * {"id": "2990", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Renters", "headerHint" : "Rewards on Rent Payments" } ]]
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.
The Bottom Line
Bilt's shift from transaction count to Bilt Cash represents a fundamental change in the program's economics:
- For Bilt: Reduces the cost of members who only use the card for rentFor landlords: Less processing volume from minimal-use cardholders
- For serious users: The 75% spend requirement means high organic spending is now essential, but those who already put significant spending on cards may find this works naturally
- For casual users: Much higher barrier to entry - "Team Four Bananas" strategies are completely dead
Reality Check:
- Someone with $3,000 rent needs $2,250 in regular monthly spending
- Someone with $5,000 rent needs $3,750 in regular monthly spending
- Welcome bonuses provide initial Bilt Cash cushion, but long-term value depends on sustained spending
The Silver Lining: The Obsidian card's 3x on Grocery OR Dining combined with 2x on Travel could be compelling for high spenders in those categories—potentially making the 75% threshold more achievable while earning valuable bonus points. We'll know the complete details soon. Until then, continue using your current Bilt Mastercard normally through February 6, 2026.
Track your spending now with Kudos to understand whether Bilt Card 2.0 will work for your wallet strategy.
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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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