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Bilt Obsidian Card Review: Is the Annual Fee Worth It in 2026?
July 1, 2025
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Who Actually Benefits from the Bilt Obsidian Card?
The Bilt Obsidian Card targets a specific demographic: renters or mortgage holders who spend heavily in one category—either dining or groceries—and maintain consistent monthly spending of $1,500+ on nonhousing purchases.
Clear WHO in title: Perfect for Strategic Renters
This isn't a card for everyone. You'll maximize value if you:
- Pay $2,000+ monthly in rent or mortgage
- Consistently spend $1,500-$2,000 monthly on everyday purchases
- Dine out frequently or buy groceries regularly (choosing one category for 3x earnings)
- Can navigate a dual-currency rewards system
- Value Bilt's airline and hotel transfer partners
Generic: "For everyone" who pays rent
If your rent is under $1,000 monthly or you can't commit to substantial card spending, the no-annual-fee Bilt Blue Card offers similar rent rewards without the complexity.
[[ SINGLE_CARD * {"id": "22392", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Travelers and Foodies", "headerHint" : "Accelerated Points" } ]]
The Dual-Currency Math: What You're Actually Earning
Understanding the Bilt Obsidian Card requires grasping its dual-currency system—and it's more complex than most rewards cards.
"$25/month on $500 spending" with concrete examples
Bilt Points earning structure:
- 3x Bilt Points on dining OR groceries (your choice, up to $25,000 annually, on up to $25,000 per year)
- 2x Bilt Points on travel
- 1x Bilt Points on all other purchases
- Up to 1x Bilt Points on rent/mortgage (with Bilt Cash redemption or tiered spending)
Bilt Cash earning structure:
- 4% Bilt Cash on all nonhousing purchases
Real-world example:
- Monthly rent: $2,000
- Grocery spending: $600 (3x category)
- Travel: $200
- Other purchases: $700
Monthly earnings:
- Groceries: 1,800 Bilt Points + $24 Bilt Cash
- Travel: 400 Bilt Points + $8 Bilt Cash
- Other: 700 Bilt Points + $28 Bilt Cash
- Total: 2,900 Bilt Points + $60 Bilt Cash
To earn full 1x rewards on your $2,000 rent, you need $60 in Bilt Cash ($30 per 1,000 points). With $60 earned, you unlock the full 2,000 Bilt Points from rent.
Annual value (at TPG's 2.2 cents per point valuation):
- Points: 34,800 + 24,000 (rent) = 58,800 points = $1,293.60
- Bilt Cash: $720 annually
- Minus $95 annual fee = $1,918.60 net value
Vague: "great rewards" without specifics
Break-Even Analysis: When the $95 Fee Makes Sense
Let's calculate exactly how much you need to spend to justify this card's annual fee.
Break-even math with examples
Scenario 1: $1,500 monthly rent + moderate spending
- Rent: $1,500/month
- Monthly nonhousing spend: $1,200
- Annual Bilt Cash earned: $576
- Annual Bilt Points from rent: 18,000 (value: $396)
- Net annual value: $877 (after $95 fee)
- Verdict: Worthwhile
Scenario 2: $3,000 monthly rent + high spending
- Rent: $3,000/month
- Monthly nonhousing spend: $2,500
- Annual Bilt Cash earned: $1,200
- Annual Bilt Points from rent: 36,000 (value: $792)
- Net annual value: $1,897 (after $95 fee)
- Verdict: Highly valuable
Scenario 3: $800 monthly rent + low spending
- Rent: $800/month
- Monthly nonhousing spend: $800
- Annual Bilt Cash earned: $384
- Annual Bilt Points from rent: 9,600 (value: $211)
- Net annual value: $500 (after $95 fee)
- Verdict: Marginal; consider Bilt Blue Card instead
No financial calculations provided
The $95 fee pays for itself if you earn at least $95 more in value than you would with the no-fee Bilt Blue Card.
Should You Apply? Yes if...
"Should you apply? Yes if..." plus objections in FAQs
Apply for the Bilt Obsidian Card if:
- Your monthly rent or mortgage exceeds $1,500
- You consistently spend $1,500+ monthly on nonhousing purchases
- You heavily use one category: dining OR groceries
- You value Bilt's transfer partners like Alaska Airlines Atmos Rewards or World of Hyatt
- You're comfortable managing two reward currencies
Skip this card if:
- Your rent is under $1,000 monthly
- Your spending fluctuates significantly month-to-month
- You prefer simple, set-it-and-forget-it rewards
- You want rewards on everyday purchases without category restrictions
- You already have the Chase Sapphire Preferred® Card or similar flexible rewards card
Addressing common objections:
"I don't want to track two currencies"
Valid concern. The Bilt Cash system requires active management. If you miss redeeming enough Bilt Cash, you'll earn fewer rent rewards or pay a 3% transaction fee. Use calendar reminders or opt for the simpler tiered-spending path.
"What if I move and stop renting?
"The Bilt Obsidian Card works for mortgage payments too. Even without housing payments, the 3x on dining/groceries and travel benefits provide solid value—though you might reconsider the $95 fee.
Comparing Bilt Obsidian to Other Alternatives
For dining rewards: Chase Sapphire Preferred® Card
[[ SINGLE_CARD * {"id": "509", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Exceptional Travel Value"} ]]
For grocery rewards: Blue Cash Preferred® Card from American Express
[[ SINGLE_CARD * {"id": "261", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "Popular Cash Back Card"} ]]
For rent payments: Bilt Blue Card
[[ SINGLE_CARD * {"id": "22391", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Non-Heavy Spenders", "headerHint" : "Rewards on Rent and Mortgage Payments" } ]]
No alternatives shown
The Bilt Obsidian Card occupies a middle ground—better than Bilt Blue for heavy spenders in one category, but less comprehensive than Bilt Palladium or competing premium cards.
How the Bilt Cash System Actually Works (Explained Clearly)
The biggest stumbling block with the Bilt Obsidian Card is understanding how Bilt Cash unlocks your rent rewards. Let's break it down step-by-step.
Step-by-step application guidance
Method 1: Bilt Cash Redemption (Recommended for most users)
- Earn Bilt Cash: Accumulate 4% Bilt Cash on all nonhousing purchases
- Calculate rent rewards goal: If your rent is $2,000, you want 2,000 Bilt Points
- Determine Bilt Cash needed: $30 in Bilt Cash unlocks 1,000 Bilt Points on rent
- For $2,000 rent: Need $60 Bilt Cash
- Redeem monthly: Before your rent payment, redeem $60 Bilt Cash to unlock full points
- Pay rent: Use the card 5 times each statement period to earn points and pay your rent without a transaction fee
How much do you need to spend?
- $2,000 rent → Need $60 Bilt Cash → Requires $1,500 monthly spending
- $1,500 rent → Need $45 Bilt Cash → Requires $1,125 monthly spending
- $3,000 rent → Need $90 Bilt Cash → Requires $2,250 monthly spending
Method 2: Tiered-Spending Path (Alternative)
Skip Bilt Cash entirely and earn rent rewards by spending 75% of your rent amount monthly:
- $2,000 rent → Spend $1,500 to earn 2,000 points
- $1,500 rent → Spend $1,125 to earn 1,500 points
- $3,000 rent → Spend $2,250 to earn 3,000 points
Method 3: Pay the Transaction Fee
Don't have enough Bilt Cash? Pay a 3% transaction fee to earn full points:
- $2,000 rent × 3% = $60 fee for 2,000 points ($44 value)
- Not recommended—you lose money
Important notes:
- Bilt Cash expires December 31 each year (only $100 rolls over)
- You must use the card 5 times each statement period to earn points
- Rent rewards capped at up to 100,000 points in a calendar year
Transparent Pros and Cons
What Works Well:
✓ Rent rewards with no transaction fee (when properly managed)
Unlike paying rent with most credit cards (typically 2.5-3% fees), Bilt offers genuine rewards on housing expenses—your largest monthly cost.
✓ 3x category matches high-spend areas
Whether you choose dining or groceries, you're earning elevated rewards where you likely spend $500-$1,000 monthly.
✓ Valuable transfer partners
Bilt Points transfer 1:1 to Alaska Airlines Atmos Rewards, World of Hyatt, and 21 other partners—often delivering 2-3 cents per point in value for premium travel.
✓ World Elite Mastercard® benefits
Includes cellular telephone protection, trip cancellation/interruption protection, and travel delay reimbursement.
✓ $100 annual Bilt Travel hotel credit
Two $50 credits per year offset the annual fee for hotel bookings through Bilt Travel (minimum 2-night stay required).
The Challenges:
✗ Dual-currency system complexity
Managing both Bilt Points and Bilt Cash requires active tracking. Miss a Bilt Cash redemption and you'll earn fewer rent rewards.
✗ Spending requirements for full value
You need consistent $1,500+ monthly spending to maximize rent rewards—not realistic for all budgets.
✗ $25,000 annual cap on 3x category
Heavy grocery or dining spenders will hit this ceiling and drop to 1x earnings.
✗ Bilt Cash expiration
Only $100 carries over to the next year. Lose track and forfeit your accumulated balance.
✗ Limited everyday rewards
Outside your chosen 3x category, you earn just 1x on purchases—far below cards
Frequently Asked Questions
How does Bilt Cash work with rent rewards?
Every $30 in Bilt Cash unlocks 1,000 Bilt Points on your rent or mortgage payment. For a $2,000 monthly rent payment, you need $60 in Bilt Cash to earn the full 2,000 points. Since you earn 4% Bilt Cash on purchases, you'll need to spend approximately $1,500 monthly on nonhousing purchases to generate $60 in Bilt Cash. Use the card 5 times each statement period to earn points.
What happens if I don't have enough Bilt Cash?
You have three options: (1) Earn partial points based on available Bilt Cash ($30 unlocks 1,000 points), (2) Pay a 3% transaction fee to earn full points (not recommended as it's rarely profitable), or (3) Use the tiered-spending path by spending 75% of your rent amount to earn full rewards without Bilt Cash.
Can I change my 3x category during the year?
No. You must select either dining or groceries as your 3x category, and this choice remains in effect for the entire calendar year. Choose strategically based on your spending patterns.
Does Bilt Cash expire?
Yes. Bilt Cash expires on December 31 each year. However, up to $100 in Bilt Cash automatically rolls over to the next year. Any amount exceeding $100 is forfeited, so redeem regularly throughout the year.
Is the $100 Bilt Travel hotel credit useful?
The credit is applied as two $50 semiannual credits for hotel bookings through the Bilt Travel portal. You must book a minimum 2-night stay to qualify. While restrictive, it effectively reduces the annual fee from $95 to near zero if you take at least one hotel trip annually.
How do Bilt Points compare to Chase or Amex points?
Bilt Points transfer 1:1 to 23 airline and hotel partners, including Alaska Airlines Atmos Rewards, World of Hyatt, and Turkish Airlines. TPG values them at 2.2 cents per point—higher than Chase Ultimate Rewards (2.0 cents) and on par with Amex Membership Rewards. The key difference: Bilt has fewer transfer partners but still covers major programs.
Can I earn rewards on mortgage payments?
Yes! The Bilt Obsidian Card works for both rent and mortgage payments through Bilt's partnership with UWM (United Wholesale Mortgage). The same Bilt Cash or tiered-spending requirements apply, and you earn up to 100,000 points in a calendar year on housing expenses.
What's the best way to use Rent Day (the first day of each month)?
On Rent Day, earn double points on all eligible purchases except rent, up to 1,000 bonus points, excluding rent, up to 1,000 bonus points. Focus your largest purchases on the first of each month—such as stocking up on groceries or prepaying subscriptions—to maximize this benefit.
Bottom Line: Is the Bilt Obsidian Card Worth It in 2026?
The Bilt Obsidian Card delivers exceptional value for a specific audience: renters or mortgage holders with $1,500+ consistent monthly spending who concentrate heavily in either dining or groceries.
You should apply if:
- Your monthly rent or mortgage exceeds $1,500
- You consistently spend $1,500-$2,500 on nonhousing purchases
- You're willing to manage a dual-currency rewards system
- You heavily use one spending category (dining OR groceries)
- You value Bilt's transfer partners for travel redemptions
Skip this card if:
- Your rent is under $1,000 monthly
- Your spending fluctuates significantly (you'll struggle with Bilt Cash requirements)
- You want simple, automatic rewards
- You need strong everyday rewards outside specific categories
The verdict: The Bilt Obsidian Card occupies an awkward middle ground. It's more complex than the no-fee Bilt Blue Card but offers less comprehensive rewards than the $495 Bilt Palladium Card or competing premium travel cards. However, for the right person—someone with substantial rent payments and concentrated spending in one bonus category—it delivers $800-$1,900 in annual value after the $95 fee.
The dual-currency system remains the biggest hurdle. If you're comfortable with active management and can commit to consistent spending patterns, the Bilt Obsidian Card transforms your rent from a financial black hole into a significant source of rewards. If you prefer simplicity, look elsewhere.
Remember: Use the card 5 times each statement period to earn points, redeem $30 in Bilt Cash for every 1,000 rent points you want to unlock, and monitor Bilt Cash expiration dates to maximize value.
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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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