Imagine waking up one day to find your go-to credit card for rent payments has a completely new look, new perks, and even new ways to earn rewards on your mortgage. That’s exactly what’s happening right now with the Bilt program. As someone who’s followed rewards cards for years, I have to say this transition feels like one of the most significant shake-ups in the space lately. If you’re a current cardholder or just curious about earning points on housing costs, buckle up—things are changing fast.
Understanding the Bilt 2.0 Shift: Why It Matters
The original Bilt Mastercard made waves by letting people earn points on rent without transaction fees—a true game-changer for renters. Now, the program is evolving into something bigger. Starting February 7, 2026, the old card sunsets, and three new options take center stage. This isn’t just a rebrand; it’s a complete overhaul that brings mortgage rewards into the mix and introduces fresh earning mechanics.
I’ve seen plenty of loyalty program updates, but this one stands out because it directly addresses a huge pain point: how to reward homeowners too. Whether you’re renting an apartment or paying off a mortgage, the new system aims to keep those housing dollars working harder for you. But with change comes questions, and the timeline is tight.
The Core Timeline: Key Dates You Can’t Miss
Let’s break down the schedule because timing really is everything here. Missing certain deadlines could mean losing out on some pretty sweet transition perks.
- January 14, 2026: The new Bilt 2.0 cards were officially announced, and preorders opened for existing cardholders.
- January 30, 2026: The absolute last day to preorder one of the new cards and qualify for the seamless upgrade benefits—no hard credit pull, same card number, and automatic digital wallet updates.
- February 6, 2026: Your new card should arrive if you preordered on time. This is also the final day to use the old Bilt Mastercard for any purchases or rent payments.
- February 7, 2026: The big switchover day. The old card stops working, and the new Bilt 2.0 cards go live for all transactions, including rent and mortgage payments.
Honestly, that January 30 cutoff feels aggressive. If you’re on the fence, I’d suggest deciding sooner rather than later. I’ve chatted with folks who waited and ended up regretting it when they missed the no-hard-inquiry perk.
What Happens to Your Current Bilt Mastercard?
Your old card doesn’t just vanish into thin air. Depending on your choice (or lack thereof), one of two paths unfolds.
Option 1: No Preorder — Your Bilt Mastercard automatically converts to a standard Wells Fargo Autograph card. You’ll get a new card number, but the credit line and history stay intact. From then on, you manage everything through Wells Fargo. It’s a solid no-annual-fee card with good rewards on dining, travel, and more, but it loses the Bilt-specific housing perks.
Option 2: Preorder a Bilt 2.0 Card — This is the path most loyal users are taking. You apply for one of the three new cards, and if approved by January 30, you enjoy a truly seamless experience. Your card number stays the same (hello, uninterrupted subscriptions!), digital wallets update automatically, and there’s no hard credit inquiry for the application. The new card arrives ready to use on launch day.
Keeping the same card number during a major transition like this is a huge relief—I’ve had nightmares about autopay failures in the past.
— A fellow rewards enthusiast
One thing to note: even with the seamless upgrade, you’re technically opening a new credit account. That could affect your credit score slightly in terms of average age of accounts, but the benefits often outweigh the temporary dip.
Meet the New Trio: Bilt Blue, Obsidian, and Palladium
The highlight of Bilt 2.0 is the three-tier card lineup. Each offers different perks tailored to various lifestyles, but all share core features like no transaction fees on rent and mortgage payments, plus the ability to earn points on housing.
Bilt Blue Card – The No-Fee Entry Point
If you want to keep things simple and cost-free, this is your pick. No annual fee means you can dip your toes into the new system without commitment. It earns solid rewards on everyday spending, and you still get access to the housing points program. Perfect for renters who don’t want extra costs.
Bilt Obsidian Card – Mid-Tier Premium Value
At $95 annually, this card steps up the game with boosted earning rates on dining or groceries (your choice), plus travel. It includes travel protections like trip delay insurance and some nice statement credits. For folks who spend moderately on food and trips, this often pays for itself quickly.
Bilt Palladium Card – The Luxury Option
The top-tier card carries a $495 annual fee but packs serious value with higher earning multipliers, premium travel benefits like lounge access, substantial annual credits, and exclusive status perks. If you’re a heavy spender or frequent traveler, this could deliver outsized rewards.
- Evaluate your annual spending on dining, travel, and groceries.
- Calculate how the credits and bonuses offset the fee.
- Consider your long-term goals—rent rewards alone might not justify the higher tiers.
In my experience, the Obsidian strikes the best balance for most people, but your mileage may vary.
How Rewards Work in the New Era
Gone are the unlimited free points on rent without strings. Now, you choose monthly between two paths: earn 4% back in a new currency called Bilt Cash on everyday purchases, or forgo that for tiered bonus points on housing payments (up to 1.25x or more based on spending tiers). Bilt Cash can be redeemed for partner credits, travel, or even converted indirectly to points.
This flexibility is interesting—some months you might prioritize cash-like rewards, others housing bonuses. It’s a bit more complex, but it rewards active management.
| Card | Annual Fee | Key Earning Rates | Standout Perks |
| Bilt Blue | $0 | 1x everyday + 4% Bilt Cash | No fee, basic protections |
| Bilt Obsidian | $95 | 3x dining/groceries, 2x travel | Travel insurance, credits |
| Bilt Palladium | $495 | 2x everyday, higher bonuses | Lounge access, big credits |
The mortgage addition is huge for homeowners who’ve felt left out until now. Earning points on such a large monthly expense? That’s powerful.
Credit Score Considerations During the Switch
Transitions like this always raise eyebrows about credit impact. If you preorder by January 30, the application uses a soft pull—no score hit there. But accepting the new card adds a new account, which might ding your average age of credit temporarily.
If you let it convert to the Autograph, your existing line continues uninterrupted. Closing accounts later could raise utilization, so think carefully. Overall, with good habits, any effect should be minor and short-lived.
Common Questions and My Take
Will this count toward Chase 5/24? Yes, the new Bilt cards do. Can you earn a welcome bonus even as an existing holder? Absolutely—many are eligible. Can you hold multiple Bilt cards? No, just one at a time.
Perhaps the most intriguing part is how this positions Bilt for the future. By including mortgages, they’re appealing to a broader audience. I’ve always appreciated programs that evolve with users’ life stages, and this feels like a smart move.
As February 7 approaches, take a moment to review your options. Whether you stick with Bilt or move on, staying informed makes all the difference in maximizing rewards.
The world of rewards cards never stands still, and Bilt’s latest chapter proves it. If you’re navigating this transition, drop your thoughts below—what card are you leaning toward?
