Bilt, known for rewarding consumers on daily spending, plans to unveil a new range of credit cards on Wednesday. These cards not only aim to boost members’ earnings on housing costs but also feature a 10% annual interest rate for the first year, aimed at making them more affordable for users.
This latest version, called Bilt 2.0, is an upgrade to the company’s previous co-branded card offerings. The new lineup consists of three credit cards, varying from an option with no annual fee to a premium card costing $495. CEO Ankur Jain highlights that these cards are unique as they allow users to pay their rent or mortgage without incurring fees.
Every time users pay their rent or mortgage on time, they can continue to earn rewards. Jain’s goal is to make homeownership more accessible, especially as many Americans face challenges entering the housing market.
One notable difference with Bilt 2.0 is that members won’t earn a set number of points for home payments. Instead, the points earned on rent or mortgage payments depend on daily spending habits. So, the more a card is used, the more points accrue for housing payments.
Aside from regular shopping, card users can earn 4% back in Bilt Cash on daily expenses. This can be used like cash, which Jain describes as a groundbreaking feature in today’s market. The ability to earn points not just on mortgages but also on everyday purchases adds to their appeal.
Bilt Cash is effectively a new rewards currency within the Bilt system. Cardholders can accumulate it through regular spending and utilize it for monthly credits at various services, like restaurants or hotels, or boost their points on rent or mortgage payments.
For home payments, cardholders earn 1,000 Bilt Points for every $30 of Bilt Cash earned on rent or mortgage payments, even if they manage multiple properties. For instance, a renter spending $3,000 monthly would earn 2,000 points with no added transaction fees.
Jain mentioned that all cardholders would enjoy a 10% interest rate on new purchases during the first year, reflecting demands for affordability.
On another note, recent discussions have surfaced regarding potential 10% tariffs proposed by President Donald Trump, aimed at capping credit card interest rates that can exceed 20% for some consumers starting January 20. This follows a bipartisan effort led by Senators Bernie Sanders and Josh Hawley seeking to limit annual credit card interest rates to 10%.
“Our focus is always on winning for American consumers. We’re committed to offering free credit checks and incentives for down payments and student loans,” Jain stated, emphasizing efforts to set people up for financial success over the next year.
Bilt has stressed that participation in its rewards program doesn’t require being a cardholder, but the card is meant to enhance user engagement within its loyalty structure.
Current cardholders have until January 30, 2026, to switch to a new Bilt card. Your existing card number will remain the same, and subscriptions or automatic payments will continue uninterrupted. The card will seamlessly integrate with Apple Pay and Google Pay.
The new offerings include:
Bilt Blue Card: No annual fee
- 1x points for everyday use
- 4% back on daily spending via Bilt Cash
- $100 in Bilt Cash upon opening an account
- Earn both Bilt Points and Bilt Cash with no annual fee and no foreign transaction fees
Bilt Obsidian Card: $95 annual fee.
- 3x points on food or groceries (up to $25,000 yearly), 2x on travel, 1x on all other expenses
- 4% back on daily spending with Bilt Cash
- $100 in Bilt Travel Hotel credits annually
- $200 in Bilt Cash upon approval
- Additional premium perks, including travel delay insurance and no foreign transaction fees
Bilt Palladium Card: $495 annual fee.
- Double points for everyday purchases
- 4% back on daily spending with Bilt Cash
- Exclusive, limited-time 50,000 point sign-up bonus plus Gold status after qualifying spend
- Additional $300 in Bilt Cash when opening an account
- $600 annual credit (includes $400 in Bilt Travel Hotel Credit + $200 Bilt Cash)
- Premium benefits like Priority Pass access and purchase protection
