Bilt Rewards

Bilt Rewards is the only major US program that lets you earn flexible, transferable points on rent and mortgage payments without transaction fees. Bilt has 28 transfer partners, nearly all at 1:1, the largest roster of any US program, and competes directly with Chase Ultimate Rewards, Amex Membership Rewards, and Capital One Miles.

The February 2026 Card 2.0 overhaul moved Bilt from Wells Fargo to Cardless and expanded the lineup to three tiers (Blue, Obsidian, and Palladium). For Canadians with US addresses, Bilt provides unmatched access to partners like World of Hyatt, United MileagePlus, and Atmos Rewards.

The Bilt Card 2.0 Lineup

The Card 2.0 overhaul replaced the single Bilt Mastercard (issued by Wells Fargo) with three distinct tiers, all issued by Cardless on the Mastercard network. Each card provides full access to all 28 Bilt transfer partners, nearly all at 1:1.

You can only hold one Bilt credit card at a time, though you can be an authorized user on a different card type held by someone else. You can make one voluntary upgrade or downgrade between Bilt cards in any rolling 12 months.

Bilt Blue Card — $0 Annual Fee

The Bilt Blue Card is the entry-level offering and inherits the no-annual-fee positioning of the original Bilt Mastercard. It earns a flat 1x Bilt points on all non-housing purchases, plus 4% Bilt Cash on the Flexible Bilt Cash Option, and up to 1.25x points on rent and mortgage payments, depending on the Rewards Option you pick (see How Bilt Cash Works below).

There are no bonus earning categories. Dining, travel, and everything else all earn at the same 1x rate. The card includes World Elite Mastercard benefits, no foreign transaction fees, and $0 annual fees for authorized users.

The welcome offer is $100 in Bilt Cash upon approval, which is enough to unlock approximately $3,333 worth of housing payments at 1x points.

The Blue Card is best suited for renters or homeowners who want access to Bilt's 28 transfer partners without paying an annual fee. If you are someone who primarily wants to earn on housing and transfers those points to airline and hotel partners, the Blue Card delivers that core functionality at zero cost.

The trade-off is the absence of bonus categories, you will earn fewer points per dollar on dining and travel compared to the Obsidian Card.

Bilt Obsidian Card — $95 Annual Fee

The Bilt Obsidian Card is the mid-tier option and the only card in the 2.0 lineup with bonus earning categories. It earns 3x Bilt points on either dining or groceries (you choose one category, locked for the calendar year and changeable each January), 2x points on travel, and 1x points on all other non-housing purchases, plus 4% Bilt Cash on all of them on the Flexible Bilt Cash Option. Housing earning works the same way as on the Blue Card.

If you pick groceries, 3x is capped at $25,000 of purchases a calendar year, after which it reverts to 1x. The welcome offer is $200 in Bilt Cash upon approval, enough to unlock roughly $6,666 in housing payments.

Card perks include up to $100 in Bilt Travel credits per year (up to $50 per half-year, requiring a two-night minimum hotel stay), World Elite Mastercard benefits, no foreign transaction fees, and a $50 annual fee for authorized users. From your first card anniversary on or after January 1, 2027, the travel credit becomes $100 in Bilt Cash a year, unless you've chosen in the Bilt app to keep your current setup (a Legacy Election).

The Obsidian Card makes sense for those who spend meaningfully on dining or groceries and want category multipliers alongside their housing earning. The $100 hotel credit largely offsets the $95 annual fee, making the effective cost near zero if you book at least two hotel stays per year through Bilt Travel.

It's worth noting that the original Bilt Mastercard offered 3x dining and 2x travel at no annual fee, the Obsidian now charges $95 for a similar category structure, though with the addition of a grocery option and the Bilt Cash system.

Bilt Palladium Card — $495 Annual Fee

The Bilt Palladium Card is the premium flagship and represents Bilt's first foray into the ultra-competitive premium card space alongside the Amex Platinum, Capital One Venture X, and Chase Sapphire Reserve.

It earns a flat 2x Bilt points on all non-housing purchases, with no categories or caps, plus 4% Bilt Cash on the Flexible Bilt Cash Option. Housing earning works the same way as on the Blue Card.

The Palladium is the first Bilt card to carry a true welcome bonus: 50,000 Bilt points after spending $4,000 on non-housing purchases in the first three months, plus $300 in Bilt Cash and automatic Bilt Rewards Gold elite status upon approval.

Annual perks include up to $400 in Bilt Travel credits (up to $200 per half-year, two-night minimum hotel stay required) and $200 in Bilt Cash deposited annually. From your first card anniversary on or after January 1, 2027, the two become $600 in Bilt Cash a year, unless you've chosen in the Bilt app to keep your current setup (a Legacy Election). The card also includes Priority Pass lounge membership for the cardholder plus two guests, World Legend Mastercard benefits, no foreign transaction fees, and authorized users at $95 per year with their own Priority Pass.

On paper, the credits make the effective annual fee potentially negative: $495 minus $400 in hotel credits minus $200 in Bilt Cash equals negative $105, assuming full utilization.

The flat 2x earning rate on all non-housing spending is one of the strongest daily-driver propositions in the US market, and the 50,000-point welcome bonus (valued at roughly $1,000 when transferred to premium airline partners) is a meaningful incentive in a program that historically offered no sign-up bonus at all.

The Priority Pass membership with two guest entries positions the Palladium competitively against the Capital One Venture X, which offers a similar lounge benefit at a lower annual fee but lacks Bilt's housing earning and 28-partner transfer ecosystem.

How Bilt Cash Works

The Bilt Cash system, introduced when Bilt relaunched its cards on February 7, 2026, is the most important new mechanic to understand. Bilt Cash is a separate currency from Bilt points. Bilt gives cardholders two ways to earn on rent and mortgage, called Rewards Options.

On the Housing-only Option, the default, your everyday card spend in a billing cycle sets your rate on that cycle's housing payment: 0.5x at 25% of the payment, 0.75x at 50%, 1x at 75% and 1.25x at 100% or more. Below 25%, a billing cycle with a housing payment still earns 250 points. This option earns no Bilt Cash on everyday spend.

On the Flexible Bilt Cash Option, all three Bilt cards earn 4% Bilt Cash on every dollar of non-housing spending. Think of it as the fuel that powers your housing points earning. You can pick this option if you opened your account before January 1, 2027. The option ends at your first card anniversary on or after that date. You can keep it by making a Legacy Election in the Bilt app before that anniversary.

On the Flexible Bilt Cash Option, you redeem $3 of Bilt Cash to unlock 100 Bilt points on housing, up to 1x. On either option, Bilt never charges a transaction fee to earn on housing payments made through its app or website.

This creates a direct link between your everyday spending and your housing earning: the more you spend on non-housing categories, the more Bilt Cash you accumulate, and the more housing points you can unlock.

The practical rule of thumb is the 75% rule: if you spend roughly 75% of your monthly housing payment on non-housing purchases, you will earn enough Bilt Cash to fully unlock 1x points on your entire housing payment.

For example, if your rent is $2,000 per month, spending $1,500 on non-housing purchases would generate $60 in Bilt Cash, which is enough to unlock 2,000 housing points (20 redemptions of $3 each).

Bilt Cash can also be redeemed for merchandise, Walgreens prescriptions, and other non-housing purposes, though using it to unlock housing points is by far the most valuable application.

One important caveat: Bilt Cash expires at the end of the same month a year later (Bilt Cash earned in March 2026 expires on March 31, 2027), and Bilt uses the Bilt Cash that expires first. This means you should plan to use your Bilt Cash regularly rather than stockpiling it.

Earning Points on Rent and Mortgage

Earning on housing payments remains the defining feature of Bilt Rewards. With Card 2.0, the program expanded beyond rent to include mortgage payments, a significant addition that opens the program to homeowners for the first time.

A separate credit line is allocated specifically for housing payments, ensuring that large rent or mortgage charges do not consume your everyday spending limit.

For rent payments, you can pay through the Bilt Rewards app or website using a Bilt Rent Account. Bilt can process payments through your property's online portal or mail a check directly to your landlord or property management company.

You are limited to one rental payment to one property per month. It is also possible to earn a flat 250 Bilt points on rent even without a Bilt card, simply by signing up for a free Bilt Rewards account and paying through the platform.

For mortgage payments, the mechanics work the same way: pay through Bilt, and you earn on the payment amount under the Rewards Option you picked.

In practical terms, you're earning transferable points on what is typically a household's largest monthly expense. Without transaction fees. No other US program can match that.

Other Ways to Earn

Beyond housing and everyday card spending, several supplementary earning channels exist within the Bilt ecosystem. Bilt Dining is a program that offers between 2x and 10x additional points per dollar spent at participating US restaurants.

You can link your Bilt account and card through the Bilt Rewards website to activate eligible restaurants in your area, with points typically posting within seven days.

Bilt maintains partnerships with services like Lyft and SoulCycle. Linking your Bilt Rewards account with Lyft earns 2x points on rides as a loyalty member, in addition to the points your Bilt card earns on the ride. With the Palladium Card, that comes to 4x in total. SoulCycle classes purchased through Bilt earn 3x points.

The Bilt Travel Portal, powered by Expedia, earns 1x Bilt points per dollar on flights, hotels, car rentals, and activities, or 2x per dollar on travel packages. These points are earned regardless of which card you use to pay.

Transfer Partners

Bilt Rewards has 28 transfer partners, the largest roster of any US transferable currency program. Nearly every partner transfers at a 1:1 ratio. The exceptions are ALL Accor at 3:2 (3 Bilt points for 2 Accor points), I Prefer at 1:2 (1 Bilt point for 2 I Prefer points) and Amtrak Guest Rewards at 2:1. World of Hyatt moves from 1:1 to 4:3 on January 1, 2027. Transfers arrive almost instantly, except to Southwest Rapid Rewards and Amtrak Guest Rewards, which can take up to 72 hours.

Airline Transfer Partners (20)

The airline partner lineup covers all three major airline alliances and several independent carriers. Star Alliance is well represented through Aeroplan (Air Canada), Avianca LifeMiles, TAP Miles&Go, Turkish Miles&Smiles, and United MileagePlus.

oneworld coverage includes Atmos Rewards (formerly Alaska Airlines Mileage Plan, rebranded August 2025), British Airways Club, Cathay Pacific Asia Miles, Iberia Club, JAL Mileage Bank, and Qatar Privilege Club. SkyTeam access comes via Air France-KLM Flying Blue and Virgin Atlantic Flying Club.

Independent and other carriers include Aer Lingus AerClub, Emirates Skywards, Etihad Guest, JetBlue TrueBlue, Southwest Rapid Rewards, Spirit Free Spirit, and Virgin Red. Bilt also transfers to Amtrak Guest Rewards, its first rail partner, at 2:1.

Several of these partnerships are particularly noteworthy. United MileagePlus is available through very few transferable currencies. Only Bilt, Chase Ultimate Rewards, and Marriott Bonvoy offer this access.

Atmos Rewards (Alaska) is similarly rare as a transfer partner. JAL Mileage Bank transfers at 1:1 from Bilt, compared to the less favourable ratios available through Capital One. And the inclusion of both Emirates and Etihad gives direct access to two of the world's top premium carriers in the Middle East.

Hotel Transfer Partners (7)

Bilt is the only major US transferable currency program that partners with all five major hotel loyalty programs: World of Hyatt, Hilton Honors, IHG One Rewards, Marriott Bonvoy, and ALL Accor. It also transfers to Wyndham Rewards and to I Prefer, the program of Preferred Hotels & Resorts.

This breadth of hotel coverage is unmatched — Chase Ultimate Rewards has Hyatt, Marriott, and IHG but not Hilton or Accor; Amex Membership Rewards has Hilton and Marriott but not Hyatt or IHG.

World of Hyatt is the standout hotel partner. Hyatt points consistently deliver the highest cents-per-point value in the hotel space (roughly 1.7 to 2.2 cents per point), and Bilt transfers to Hyatt at 1:1 until December 31, 2026, then at 4:3 (1,000 Bilt points for 750 Hyatt points) from January 1, 2027. The other US transferable currency with Hyatt is Chase Ultimate Rewards, at 4:3 on the Sapphire Preferred and Ink Business Preferred since October 1, 2026, and 1:1 on the Sapphire Reserve. For anyone without a Chase relationship, Bilt is the best alternative pathway into Hyatt.

Marriott Bonvoy carries a permanent transfer bonus: when you transfer 20,000 or more Bilt points to Marriott in a single transaction, you receive an additional 5,000 Bonvoy points, making the effective ratio 1:1.25. This is a standing offer, not a limited-time promotion, and should factor into any Marriott redemption planning.

Hotel transfers are 1:1, except ALL Accor at 3:2, I Prefer at 1:2 and, from January 1, 2027, World of Hyatt at 4:3. The minimum transfer amount is 2,000 points for Blue-tier Bilt members and 1,000 points for Silver-tier members and above.

Rent Day and Transfer Bonuses

Rent Day, held on the first of every month, is one of Bilt's most distinctive features and the most reliable source of transfer bonuses among US programs. While Amex and Chase run sporadic transfer promotions a few times per year, Bilt delivers transfer bonuses on a predictable monthly cadence.

On Rent Day, non-rent purchases earn double points (up to 1,000 bonus points). Transfer bonuses of up to 125% have been offered, meaning your Bilt points go further when moving them to airline and hotel partners on the first of the month.

Past Rent Day promotions have also included status matches with hotel programs, partner offers from cruise lines, and the Rent Free sweepstakes game where members can win their rent covered for a month.

The takeaway: if you plan to transfer Bilt points to a partner, always check the Rent Day promotion before pulling the trigger. Waiting even a few days for the first of the month could net you a 25% to 125% bonus on your transfer. The difference between 50,000 miles and 62,500 miles or more.

Best Redemptions

Bilt has 28 transfer partners, so the best redemption for your Bilt points depends entirely on where you want to go and how you want to get there. That said, several sweet spots stand out.

For premium-cabin flights to Asia, transferring to Cathay Pacific Asia Miles, JAL Mileage Bank, or Aeroplan provides outstanding value. JAL Mileage Bank in particular offers some of the most competitive business class pricing on partner flights, and the 1:1 transfer ratio from Bilt is significantly better than what Capital One offers.

Turkish Miles&Smiles is another strong play for Star Alliance business class, especially on long-haul routes where Turkish's award chart prices aggressively below market.

For flights within North America, United MileagePlus is a powerful option for Star Alliance routings, while Southwest Rapid Rewards appeals to domestic travellers who value the flexibility of revenue-based pricing and the Companion Pass.

Atmos Rewards (Alaska) is underrated for partner bookings on carriers like Cathay Pacific, Japan Airlines, and Finnair at sweet spot pricing.

For hotels, World of Hyatt is consistently the best value per point. A night at a Park Hyatt that sells for $500 might cost 25,000 points, a redemption value north of 2 cents per point.

The Marriott permanent transfer bonus (20,000 Bilt = 25,000 Bonvoy) also makes Marriott transfers attractive for aspirational properties where the 5,000-point bonus adds meaningful room nights.

For Middle Eastern carriers and premium products, Emirates Skywards and Qatar Privilege Club offer direct access to some of the most sought-after first and business class cabins in the world.

Virgin Atlantic Flying Club is the go-to for booking ANA business class (one of the most popular sweet spots in the hobby) and Delta One at competitive rates.

Bilt also offers alternative redemptions outside the transfer ecosystem. The Bilt Travel Portal provides a flat 1.25 cents per point when booking flights, hotels, and car rentals through Expedia.

Points can be saved toward a home down payment at a rate of 1.5 cents per point (the process requires submitting a form and proof of purchase). Paying rent with points yields only 0.55 cents per point. A poor value that should be reserved for emergencies only.

Elite Status

Bilt Rewards includes its own elite status program, an unusual feature for a credit card loyalty program. Status is based on points earned or card spend within a calendar year, and earned status lasts through the end of the following calendar year.

The four tiers are:

Blue — Entry level. All Bilt members start here. Minimum transfer threshold of 2,000 points.

Silver — Requires 50,000 points earned or $10,000 spent on a Bilt card. Reduces minimum transfer threshold to 1,000 points.

Gold — Requires 125,000 points earned or $25,000 spent on a Bilt card. Palladium cardholders receive automatic Gold status upon approval.

Platinum — Requires 200,000 points earned or $50,000 spent on a Bilt card. The top tier with the most extensive benefits.

Higher status tiers unlock enhanced benefits including priority access to Rent Day promotions, elevated Bilt Dining earning rates, exclusive partner offers, and concierge-style services at the Platinum level. Full details of the benefits at each tier are available on the Bilt Rewards website.

Tips for Canadians

Bilt Rewards is a US program and is not directly available to Canadian residents. There is no equivalent of Amex Global Transfer or Nova Credit cross-border application for Bilt, you need a US address, US credit history, and ideally a US rent or mortgage obligation to make the program worthwhile.

That said, for Canadians who do rent or own property in the United States (snowbirds, cross-border workers, those with US rental properties, or students), Bilt fills a gap that no Canadian program can.

There's no Canadian credit card that earns transferable points on rent payments, and no Canadian program that transfers to United MileagePlus, World of Hyatt, or Atmos Rewards at 1:1.

If you're a Canadian with US spending, consider how Bilt fits alongside your Canadian card portfolio. A Canadian Amex card for your Canadian spend (earning Aeroplan or Amex MR) paired with a Bilt card for your US housing and everyday US spend creates a powerful two-country earning strategy.

Bilt's transfer partners overlap significantly with Aeroplan's, so you can consolidate your points into a single airline program from either side of the border.

One practical consideration: Bilt cards carry no foreign transaction fees, which means if you use a US-issued Bilt card while travelling in Canada or internationally, you will not pay the typical 2.5% conversion surcharge. This is a small but meaningful benefit for cross-border cardholders.

For Canadians without US residency or rent obligations, Bilt is not the right fit. Focus instead on Canadian transferable currencies like Amex Membership Rewards, which offers access to Aeroplan and several of the same hotel programs.

But if you have a US address and pay rent or a mortgage south of the border, Bilt's combination of housing earning, 28 transfer partners, and monthly Rent Day bonuses makes it one of the most valuable programs available to you. Regardless of which side of the border you call home.

Conclusion

Bilt Rewards has matured from a simple rent-rewards card into one of the most compelling transferable currency ecosystems in North America. The Card 2.0 launch brought a three-tier card lineup (Blue at $0, Obsidian at $95, Palladium at $495), the innovative Bilt Cash system that ties everyday spending to housing earning, mortgage payment support, and a proper welcome bonus for the first time.

Nearly all of its 28 transfer partners are at 1:1, Rent Day continues to deliver the most predictable transfer bonuses in the industry, and the Marriott permanent bonus adds a layer of value that few competing programs offer.

Whether you're a renter maximizing a no-fee Blue Card, a frequent diner leveraging the Obsidian's 3x categories, or a premium traveller putting the Palladium's flat 2x and Priority Pass to work, Bilt Rewards delivers a unique combination of housing earning and transfer flexibility that no other program in the US can match. If you have US housing costs to work with, it's one of the best programs out there.