Bilt Cards 2.0 review: Are they better than the original — and can you still earn points on rent?

With a transition from Wells Fargo to Cardless and Column N.A. Bank, Bilt has introduced its Bilt Card 2.0 setup, featuring three new Bilt credit cards: the Bilt Blue Card (see rates & fees), Bilt Obsidian Card (see rates & fees), and Bilt Palladium Card (see rates & fees).

The annual fees range from $0 to $495 (see rates & fees), and all three cards offer ways to make rent and mortgage payments without transaction fees. However, the process is more confusing than it was on the Bilt Card 1.0, as you now have to spend on the new Bilt Cards to earn points on rent and mortgage payments.

At first glance, it seems more complicated than it’s worth, especially if you were a Bilt Card 1.0 user. In many cases, a separate travel credit card or cash-back credit card setup seems like the better strategy for earning rewards, even if you can’t take advantage of rent or mortgage payments. Still, there may be certain situations where the new Bilt 2.0 credit cards make sense.

Key details

• While Bilt previously partnered with Wells Fargo, its new card servicer is Cardless, with cards issued by Column N.A. Bank.

• Bilt Card 2.0’s setup includes the no-annual-fee Bilt Blue Card, the $95-annual-fee Bilt Obsidian Card, and the $495-annual-fee Bilt Palladium Card (see rates & fees).

• You could previously use the expired Bilt Mastercard (Bilt 1.0) for transaction fee-free rent payments if you made at least five transactions per billing cycle. Now, there are still no transaction fees on rent and/or mortgage payments when making a housing payment through Bilt, but you have to choose between two confusing reward structures.

Bilt Cards 2.0 overview

*Bilt Cash expires at the end of the calendar year it is earned. Up to $100 of Bilt Cash earned rolls over to the next year.

Bilt Blue Card

Bilt Obsidian Card

Bilt Palladium Card

How to earn Bilt Points on rent and mortgage payments

There are no transaction fees on rent and mortgage payments when you pay through Bilt. However, you have to choose between two options when deciding how you want to earn points on housing payments.

Flexible Bilt Cash

This option nets you 4% back in Bilt Cash on everyday purchases on all three Bilt cards. This is in addition to the point-earning potential already available on each card.

Bilt Cash is a new reward currency in the Bilt ecosystem. It doesn’t replace Bilt Points. Rather, you can earn both at the same time. Bilt Cash can be redeemed in various ways, including unlocking earning points on housing payments.

Using $30 of Bilt Cash allows you to earn 1,000 Bilt Points on your housing payment. You can use as much Bilt Cash as you want to unlock earnings on your housing payments, up to the actual payment amount. For example, you would need to redeem $60 of Bilt Cash to earn 2,000 points on a $2,000 housing payment.

Note: All Bilt Cash expires at the end of the calendar year in which it is earned, but up to $100 of Bilt Cash rolls over to the next year.

Housing-only rewards

This option forgoes earning Bilt Cash and lets you automatically earn points on housing payments, up to 1.25x depending on how much you use your Bilt card on everyday purchases.

Here’s how it breaks down:

• Earn 0.5x points on housing payments if you spend at least 25% of your monthly housing payments on everyday purchases

• Earn 0.75x points on housing payments if you spend at least 50% of your monthly housing payments on everyday purchases

• Earn 1x points on housing payments if you spend at least 75% of your monthly housing payments on everyday purchases

• Earn 1.25x points on housing payments if you spend the same or more of your monthly housing payments on everyday purchases

With this option, the minimum spending thresholds to hit each tier of earning for a $2,000 housing payment would be $500 (25%), $1,000 (50%), $1,500 (75%), and $2,000 (100% or more).

If you don’t meet the minimum spending threshold one month, you’ll still earn 250 points on your housing payment made through Bilt for that billing cycle.

How to earn Bilt rewards

All three Bilt 2.0 cards earn 4% Bilt Cash on all eligible purchases when you select the Flexible Bilt Cash option. When you redeem your Bilt Cash on housing payments, you can earn up to 1x points on rent and mortgage payments. However, each card also has its own spending categories for earning Bilt Points.

Keep in mind that Bilt Cash and Bilt Points are not the same.

How to redeem Bilt rewards

Additional benefits

Bilt Travel hotel credit

Two of the Bilt 2.0 cards have a Bilt Travel hotel credit benefit:

• Bilt Obsidian Card: $100 annual Bilt Travel Hotel credit. This is awarded semi-annually as a $50 statement credit.

• Bilt Palladium Card: $400 annual Bilt Travel Hotel credit. This is awarded semi-annually as a $200 statement credit.

Something to note about these credits is that they’re actually split into two semi-annual credits. Meaning, you can use up to half of the total credit from January through June, and the rest from July through December.

In addition, you’ll only receive statement credits for qualified bookings. For this benefit, qualified bookings are hotel stays of two nights or more made through the Bilt Travel Portal on the Bilt Rewards website or the Bilt app, using your applicable Bilt credit card.

You must also toggle on the option to receive the credit when checking out in the Bilt app or on the website to receive your statement credit.

Cellular Wireless Telephone Protection

All three Bilt 2.0 cards offer cellular wireless telephone insurance, and the coverage limitations are the same. You can receive reimbursement for the actual cost to replace or repair a stolen or damaged cell phone, up to $800 per claim, and up to $1,000 per covered card per 12-month period, subject to a $50 deductible.

Note that you have to pay your monthly cell phone bill with your applicable card to receive this coverage.

Purchase Assurance

This is available on all three Bilt 2.0 cards. Purchase Assurance provides coverage if eligible items are damaged or stolen within 90 days of purchase. There’s a maximum of $1,000 per loss and a total of $50,000 per cardholder account per 12-month period.

MasterRental Coverage

This is available on all three Bilt 2.0 cards. MasterRental Coverage provides secondary coverage to rental vehicles for periods of 31 consecutive days or less. This coverage provides protection against physical damage and theft of the vehicle.

Trip Cancellation and Interruption Protection

This is available on the Bilt Obsidian and Bilt Palladium cards. This coverage provides a maximum trip cancellation or interruption benefit of $2,000 per covered trip and $5,000 per eligible account per 12-month period.

Trip Delay Reimbursement

This is available on the Bilt Obsidian and Bilt Palladium cards. This coverage provides up to $300 in trip delay reimbursement per trip, with a limit of one claim per 12-month period. This coverage applies to eligible delays of more than six hours.

Extended Warranty

This is available on the Bilt Obsidian and Bilt Palladium cards. This coverage doubles the time period of your eligible purchase’s original manufacturer’s warranty, up to a maximum of 24 months from the day the original warranty expires. Terms apply.

Lost or Damaged Luggage Insurance

This is available on the Bilt Obsidian and Bilt Palladium cards. This coverage provides up to $1,500 per incident to repair or replace eligible checked or carry-on luggage and its contents. There is a maximum of two claims per 12-month period.

Priority Pass

This is available on the Bilt Palladium card. The eligible cardholder receives a complimentary Priority Pass membership and can bring up to two guests free of charge. Additional guests above two are charged $35 per lounge visit, per guest.

Baggage Delay Insurance

This is available on the Bilt Palladium card. This coverage provides up to $250 per eligible claim to replace, on an emergency basis, any personal articles or business effects in your delayed checked baggage. There is a maximum of two claims per 12-month period.

Price Drop Protection

This is available on the Bilt Palladium card. This coverage offers up to $250 per claim (with a minimum $25 claim amount) if an eligible item you’ve purchased entirely with the Palladium Card has an advertised lower price after you make your purchase. There is a maximum of four claims per 12-month period.

Who is Bilt Card 2.0 best for?

The new Bilt 2.0 cards make the most sense for people who plan to use them for everyday spending. If these cards fit into your spending and rewards strategy, you’ll also get the added benefit of being able to earn points on your rent or mortgage payments.

However, you’ll have to calculate which rewards structure (Flexible Bilt Cash or Housing-only rewards) is right for you. You’ll also have to determine if using one of the Bilt cards is a better rewards strategy than using other rewards cards.

Bilt Card 2.0 pros

• Valuable transfer partners, such as Air Canada Aeroplan, Atmos Rewards, and World of Hyatt

• You can earn points on rent and mortgage payments

• No foreign transaction fees (see rates & fees)

• Three options to choose from

• Cellular Wireless Telephone Protection

Bilt Card 2.0 cons

• The rewards structures (Flexible Bilt Cash and Housing-only rewards) are confusing

• Earning a better welcome bonus depends on the card you choose to apply for

• Other rewards credit cards may be better for everyday spending

Where can you use Bilt Card 2.0?

The new Bilt 2.0 cards use the Mastercard network, so you can use them anywhere Mastercard credit cards are accepted.

How to make a Bilt Card 2.0 payment

You can make payments to your Bilt account through the Bilt app or website.

Bilt Card 2.0 customer service info

You can reach Bilt customer service by calling the number on the back of your card or using the chat function on bilt.com.

Alternative cards to consider

Bilt Blue Card alternatives

The best part of the Bilt Blue Card is that it has a $0 annual fee (see rates & fees). However, its everyday spending potential is quite bad. Consider these alternatives for better earning potential on your daily purchases:

Bilt Obsidian Card alternatives

The Bilt Obsidian Card has a $95 annual fee (see rates & fees), putting it into competition with similarly-priced travel cards. If you compare it with some of its competitors, you may find they better suit your needs in terms of rewards and benefits.

Bilt Palladium Card alternatives

The Bilt Palladium’s $495 annual fee (see rates & fees) places it firmly in the premium travel card category, facing off against some true heavyweights in the industry. While it has some decent rewards and benefits, we’re not sure it blows away any of the competition.

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