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News
New Bilt 2.0 cards have arrived: How you can earn points on rent, mortgages and more
Summer Hull has been covering (and using) travel tips, rewards credit cards and loyalty programs for over a decade. She has flown close to a million miles, often on points and miles and with her family in tow.
January 14, 2026 • 18 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.
Editorial note: This story has been updated with the addition of a new earning tier option as of Jan. 16. TPG founder Brian Kelly is a Bilt adviser and investor.
Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
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Quick summary
A new suite of rewards cards has launched, allowing users to earn points on both rent and mortgage payments without transaction fees.
Three card tiers are available, each offering different earning rates, welcome bonuses and benefits, with the highest tier providing premium perks and the ability to earn points at an elevated rate on everyday purchases.
Users can choose between two pathways to maximize points on housing payments: a tiered spending system or by earning and applying a cash-equivalent reward to unlock points on rent or mortgage.
Points are valued at 2.2 cents each as of January 2026 per TPG's valuations, making these rewards highly competitive for those with significant housing expenses.
What to consider
Unlocking the best reward rates on housing payments requires meeting specific everyday spending thresholds or using cash-equivalent rewards earned at merchants.
You can switch between the tiered and cash-equivalent pathways monthly, but cannot combine both for the same housing payment period.
Gold status earned through welcome offers is valid for the remainder of the calendar year and the following year.
What you'll miss from the article
A detailed breakdown of how each card tier compares, including real-world earning scenarios and guidance on choosing the best strategy for maximizing rewards on rent or mortgage payments.
Generated by AI with support from our editorial team.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
Welcome to the world of Bilt 2.0, where it turns out most of the rumors about the new card portfolio were true — and there's a lot to celebrate for those who are more than ready to start earning points on their mortgage payments.
Starting with the really good news: You will now be able to earn 2 Bilt Points (TPG's most valued currency, per our January 2026 valuations) per dollar spent on everyday spending if you hold the premium-tier Bilt Palladium Card (see rates and fees).
This is huge news to me because of the top-tier transfer partners in the Bilt program, such as Alaska Airlines Atmos Rewards, World of Hyatt and United MileagePlus, which make these points so highly sought after. I'm not saying I now think of this as earning "2 Hyatt or Atmos Rewards points per dollar spent on all purchases," but I'm not saying I don't think that way.
Additionally, for the very first time, there's a legitimately big Bilt welcome bonus.
The Bilt Palladium Card is offering 50,000 bonus Bilt points and Gold elite status after spending $4,000 on non-housing purchases within the first 90 days from account opening. Plus, cardholders will receive $300 in Bilt Cash upon application approval. Up to $100 of Bilt Cash earned rolls over to the next year.
BILT
Although there are many positives to the Bilt 2.0 cards, some current Bilt enthusiasts may have not-so-positive reactions to a few changes.
You can still use all three cards to pay your rent — and now your mortgage — with no transaction fee see for the Bilt Blue Card; see for the Bilt Obsidian Card; see for the Bilt Palladium). However, in order to unlock the best reward rates, you'll need to use your Bilt card for everyday purchases.
This is a lot, and it may sound complicated at first, but that's exactly why we are here, so let's jump to it.
Details about the new Bilt credit cards
The now-confirmed details about the three new Bilt credit cards are:
Bilt Blue Card
$0 annual fee (see ).
Welcome bonus: Receive $100 Bilt Cash when you apply and are approved.
Everyday earning structure: Earn 1 point per dollar spent on everyday spending.
Housing earning structure: Earn up to 1.25 points per dollar spent on mortgage and rent payments (depending on how you choose to earn).
Earn 4% Bilt Cash on everyday spending purchases; you can use Bilt Cash to unlock points earning (up to 1 point per dollar) on your housing payments, or you can earn points on housing payments via a tiered spending system (more info below).
No foreign transaction fees (see ).
Up to $100 of Bilt Cash earned rolls over to the next year.
THE POINTS GUY
This is the card to consider if you want to explore Bilt's ecosystem (without paying an annual fee; see ) and want to earn some Bilt points for housing payments and/or everyday purchases.
Since Bilt points are worth 2.2 cents apiece based on TPG's January 2026 valuations, you are still getting a good return for your everyday spending on this card. However, I'd argue that if you're planning to spend significantly on the card, you should consider a higher-tier Bilt card.
To learn more, check out our full review of the Bilt Blue card.
Bilt Obsidian Card
$95 annual fee (see ).
Welcome bonus: Receive $200 Bilt Cash when you apply and are approved.
Everyday earning structure: Earn 3 points per dollar spent on grocery (up to $25,000 per year, then 1 point per dollar) or dining purchases, 2 points per dollar spent on travel and 1 point per dollar spent on everyday spending.
Housing earning structure: Earn up to 1.25 points per dollar spent on mortgage and rent payments (depending on how you choose to earn).
Earn 4% Bilt Cash on everyday spending purchases; you can use Bilt Cash to unlock points earning (up to 1 point per dollar) on your housing payments, or you can earn points on housing payments via a tiered spending system (more info below).
Receive a $100 annual Bilt Travel portal hotel credit ($50 available as a statement credit biannually).
Up to $100 of Bilt Cash earned rolls over to the next year.
THE POINTS GUY
This mid-tier card is a good option to consider if you don't want to pay a high annual fee but want to take advantage of some bonus points categories (i.e., travel, dining and groceries).
With the $200 Bilt Cash welcome offer, this card can likely more than pay for itself in its first year for cardmembers looking to earn points on their rent or mortgages.
Welcome bonus: Earn 50,000 Bilt points plus Gold elite status after spending $4,000 on purchases in the first 90 days; plus, receive $300 in Bilt Cash after application approval.
Everyday earning structure: Earn an unlimited 2 points per dollar spent on everyday spending.
Housing earning structure: Earn up to 125 points per dollar spent on mortgage and rent payments (depending on how you choose to earn).
Earn 4% Bilt Cash on everyday spending purchases; you can use Bilt Cash to unlock points earning (up to 1 point per dollar) on your housing payments, or you can earn points on housing payments via a tiered spending system (more info below).
Receive a $400 annual Bilt Travel portal hotel credit ($200 available as a statement credit biannually).
Receive $200 in Bilt Cash annually.
Enjoy a Priority Pass membership*.
Up to $100 of Bilt Cash earned rolls over to the next year.
*A maximum benefit amount and certain restrictions and limitations apply. Please review the Mastercard Guide to Benefits for more details.
THE POINTS GUY
I'd argue this is the best of the three new cards for those serious about earning Bilt points, though paying a $495 annual fee (see ) may not be right for everyone.
If you don't want to mess with category bonuses — or simply already have other cards where you want to direct your travel, dining and/or grocery spending — then earning 2 points per dollar spent on all purchases with this card is likely the way to go.
Interestingly, even if this card had nothing to do with earning points on housing payments, it would still be big news, given the value and versatility of Bilt points and the card's enticing earning rate of 2 points per dollar spent on all purchases (excluding rent and mortgages).
TPG values 2 Bilt Rewards points at a 4.4% return on spending per our January 2026 valuations — and that's before factoring in the 4% Bilt Cash you can choose to earn simultaneously.
Therefore, the welcome offer of 50,000 Bilt points is worth $1,100, per our valuations.
That's before factoring in earning $300 in Bilt Cash and Gold elite status.
The pathways to points on fee-free rent and mortgage payments
On Friday, Jan. 16, two days after the initial launch of Bilt 2.0, Bilt announced some tweaks and now has two pathways to earning transaction-fee-free points on rent or mortgage payments (see for the Bilt Blue; see for the Bilt Obsidian; see for the Bilt Palladium).
Option 1: Spending tiers to unlock points on rent or mortgage payments
If you want to keep things simple and not learn about a supplementary Bilt Cash system — and potentially earn more points for your mortgage or rent payments than you can with Bilt Cash — then this tiered system is probably the right choice, at least for now. You can change between the two options monthly, so you aren't locked in, but you can't earn points on housing under this tiered system and earn Bilt Cash on everyday purchases at the same time.
If you spend at least 25% of your monthly housing payment(s) in everyday purchases on the Bilt Card, you'll earn 0.5 points per dollar on your rent or mortgage payment that month.
If you spend at least 50% of your monthly housing payment(s) in everyday purchases on the Bilt Card, you'll earn 0.75 points per dollar on your rent or mortgage payment that month.
If you spend at least 75% of your monthly housing payment(s) in everyday purchases on the Bilt Card, you'll earn 1 point per dollar on your rent or mortgage payment that month.
If you spend the amount of your monthly housing payment(s) or more in everyday purchases on the Bilt Card, you'll earn 1.25 points per dollar on your rent or mortgage payment that month.
For a real numbers example, here's what this looks like for a $3,000 monthly housing payment that you pay through Bilt:
Spend $750 (25% of your housing) in everyday purchases on your Bilt Card: You'd earn 1,500 points for that rent or mortgage payment (0.5x)
Spend $1,500 (50% of your housing) in everyday purchases on your Bilt Card: You'd earn 2,250 points for that rent or mortgage payment (0.75x)
Spend $2,250 (75% of your housing) in everyday purchases on your Bilt Card: You'd earn 3,000 points for that rent or mortgage payment (1x)
Spend $3,000+ (100%+ of your housing) in everyday purchases on your Bilt Card: You'd earn 3,750 points for that rent or mortgage payment (1.25x)
If you don't hit at least the 25% minimum spend requirement to earn 0.5 points on housing, you still earn 250 points per month on your housing payment (as you did in the Bilt 1.0 system).
Option 2: The Bilt Cash pathway to earning points on rent or mortgage payments
Or, if you prefer, the three new Bilt cards have the option to award 4% Bilt Cash on nonhousing purchases.
So, for example, if you spend $1,000 on your Bilt card per month (excluding rent or mortgage payments), you'd earn $40 that month in Bilt Cash at the 4% rate. You can use that Bilt Cash for a variety of things in the Bilt ecosystem, including for credits with some neighborhood merchants, on Bilt status upgrades and on Bilt travel bookings, to name a few.
You can also use your Bilt Cash to earn points on rent and mortgage payments made using your Bilt card without transaction fees (see for the Bilt Blue; see for the Bilt Obsidian; see for the Bilt Palladium). The more you spend on the card, the more Bilt Cash you earn — and the more you amplify your earning potential on housing payments.
For every $30 in Bilt Cash, you can earn 1 point per dollar on $1,000 in rent or mortgage payments without paying a transaction fee.
This can be complicated at first, so let's look at two example scenarios.
BILT
$750 in everyday purchases, $2,000 in rent per month
Let's start with a scenario where you spend $750 per month on everyday purchases with your new Bilt card. This spending earns you $30 in Bilt Cash each month.
At the end of the month, you have a $2,000 rent payment due. This entire payment can be made through Bilt without transaction fees (see for the Bilt Blue; see for the Bilt Obsidian; see for the Bilt Palladium). However, your $30 in Bilt Cash allows you to earn points on $1,000 of that payment — the other $1,000 earns you no points in that scenario.
In other words, you'd earn 0.5 points per dollar spent on your $2,000 in rent if you had half the Bilt Cash needed to earn points on the full amount.
Pro tip: To figure out the amount of Bilt Cash you'd need available to earn 1 point per dollar, multiply your housing payment by 3%.
$1,500 in everyday purchases, $2,000 in rent per month
Now, let's say you make double the amount of everyday purchases on a Bilt card than in the first example ($1,500). At a 4% Bilt Cash earning rate, you're earning $60 in Bilt Cash each month.
In this scenario, the $60 in Bilt Cash allows you to earn points on your entire rent payment of $2,000.
Think of this amount as the "break-even" point on these cards. More specifically, if you spend at least 75% of the amount of your housing payment on everyday purchases on a Bilt card in a given month, you'll have enough Bilt Cash to earn points on the full amount of your rent or mortgage payment.
There will be an automatic setting for this
Not a math person? Not to worry — Bilt will do it for you. You can select the setting to automatically apply your available Bilt Cash to earn as many points as possible on your rent or mortgage payment (again, at a rate of $30 in Bilt Cash for $1,000 in housing spend).
If you have enough Bilt Cash available, you'll earn 1 point per dollar spent on the entire payment. If you have less, you'll only earn points on part of it, and the rest will be paid simply without earning points. Note: If you apply for one of the cards today, factor in the time it will take to receive it in the mail. According to the company, it will turn on all Bilt 2.0 cards Feb. 7.
The benefit to the Bilt Cash option vs. the tiered approach is optionality in case you want to earn some Bilt Cash to spend on other things in Bilt's ecosystem.
And remember, you can switch between the tiered approach and the Bilt Cash approach as often as monthly, with the change taking effect the following month.
Are the new Bilt cards worth it?
As a mortgage holder who never benefited from the Bilt 1.0 rent system, I am personally pretty thrilled at the prospect of easily earning Bilt points.
When it comes to whether the new Bilt cards are worth it, let's look at a few more numbers rather than offering a simple yes or no answer. Here's the math on how I can now earn 90,000 Bilt points per year with the new Bilt Palladium Card.
Spend $2,250 in everyday purchases each month, earning me 4,500 Bilt points plus $90 in Bilt Cash.
Pay my monthly $3,000 mortgage on my Bilt Palladium Card.
Earn 3,000 points on that transaction by using my $90 in Bilt Cash.
This translates to a grand total of 90,000 Bilt points per year with no transaction fees (see ).
Even if that's all I put on the Bilt Palladium Card — and it probably won't be — earning 90,000 Bilt points per year from an average of just $2,250 in everyday purchases on the card each month, plus the monthly mortgage payment, is pretty fantastic.
BILT
And that's before I factor in the ability to earn 50,000 bonus Bilt points with the welcome bonus after spending at least $4,000 on nonhousing purchases within the first 90 days from account opening. I'll also get to try out Gold status after meeting the welcome offer spending requirements, which will likely get me access to even more lucrative monthly Rent Day bonuses, airline and hotel partner transfers and more. (Note: Gold status is valid through the rest of the calendar year in which it was earned and the following calendar year.)
My advice for deciding if the new Bilt cards are worth it for you: Take a moment to mourn the past if you need to, then crunch the numbers for yourself. Numbers should drive your rewards card decisions, not emotions.
For me, the numbers are clearly in my favor, and the new Bilt cards — especially the new Bilt Palladium Card — are definitely worth a slot in my wallet.
Plus, since Bilt is really a comprehensive ecosystem, this may be just the beginning. For now, though, I can easily earn thousands of dollars in rewards over the next year and finally maximize my largest monthly expense.
Bottom line
There's a lot to wrap your head around with the launch of three all-new Bilt cards, including the evolution of Bilt Cash, the tiered option and their new welcome offers.
We aren't going to try and cram every detail and scenario into this one article.
Instead, you can keep this article bookmarked for the information you're after to help you decide if Bilt 2.0 makes sense for you and which card may be the best fit for your wallet. We will continue to add links to newly created content as it publishes to help you navigate this Bilt 2.0 world.
