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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
Reviews
Bilt Obsidian Card review: Earn valuable points in popular bonus categories
Augusta Stone is a credit cards writer for TPG. She joined the TPG team in 2023 and is excited to take points and miles beginners with her on a journey toward maximizing rewards.
January 20, 2026 • 8 min read
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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 post was updated on Jan. 29 as purchases with online resale marketplaces (such as eBay or Facebook Marketplace) are now eligible to earn rewards. TPG's Brian Kelly is a Bilt adviser and investor.
Quick summary
A new mid-tier rewards card has launched as part of a broader program update, offering elevated earning rates in select categories and a flexible rewards currency.
Cardholders can choose between earning points or cash back on nonhousing purchases, with the option to maximize rewards on rent or mortgage payments.
The card includes a travel credit for hotel bookings and select travel protections, but its benefits and welcome bonus are relatively modest compared to premium options.
Points earned are valued at 2.2 cents each as of January 2026 per TPG's valuations and can be transferred to a range of airline and hotel partners.
What to consider
Bonus earning rates are capped in certain categories, such as grocery spending, and tax payments do not earn rewards.
To unlock maximum rewards on housing payments, a specific amount of nonhousing spending is required each month.
Cash rewards expire at year-end, with only a portion rolling over, and some benefits require minimum stays or have specific restrictions.
What you'll miss from the article
A detailed breakdown of how to combine cash and points strategies to optimize rewards for rent or mortgage payments.
Generated by AI with support from our editorial team.
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.
For a $95 annual fee (see rates and fees), cardholders can earn Bilt Points at an elevated rate in popular bonus categories, as well as 4% Bilt Cash on all nonhousing purchases (should they choose to earn this way, but more on that later). This is in addition to rewards earned on rent or mortgage payments.
New Bilt Obsidian cardholders receive $200 in Bilt Cash upon application and approval. Up to $100 of Bilt Cash earned rolls over to the next year.
Not a member? to start earning and redeeming Bilt Points.
The Bilt Obsidian Card is a good choice for Bilt enthusiasts who are pleased with a pair of bonus categories and some travel perks. However, the lackluster welcome bonus and slim benefits may leave some cardholders wanting more. Card rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
Bilt Cash earning structure: Earn 4% Bilt Cash on all nonhousing purchases, if you choose. Up to $100 of Bilt Cash earned rolls over to the next year.
Bilt points earning structure: Earn 3 points per dollar spent on either grocery (on 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 other everyday purchases.
Housing earning structure: Earn up to 1.25 points per dollar spent through the tiered-rewards option, or up to 1 point per dollar spent if you opt to earn Bilt Cash.
Travel credit: Receive $100 in Bilt Travel portal hotel credits (up to $50 in biannual statement credits) each calendar year.
Welcome bonus: Receive $200 in Bilt Cash when you apply and are approved.
The Bilt Cash you can earn with the Bilt Obsidian Card can be redeemed inside the Bilt Rewards platform in multiple ways, including:
Fitness classes
Home delivery orders
Hotel bookings
Lyft rides
Unlocking points on mortgage and rent payments; redeem $30 in Bilt Cash to earn 1,000 Bilt points on mortgage or rent payments, up to the full price of your housing payments
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Redeeming Bilt Cash is one of only two ways to ensure you're earning points on housing payments, so you'll want to use the Bilt Obsidian Card frequently enough to unlock its full points-earning capabilities if this is the path you opt for.
For example, if you're paying $2,000 in rent, you'll need to redeem $60 in Bilt Cash to earn the full 2,000 Bilt points for your rent payment. However, if you redeem just $30 in Bilt Cash, you'll earn 1,000 Bilt points instead. You won't pay a transaction fee (see rates and fees).
Bilt Cash expires at the end of each calendar year. Just $100 in Bilt Cash rolls over to the next year.
If you choose to earn through the tiered-rewards option, you'll need to spend 75% of what your housing payment costs in order to earn a full 1 point per dollar.
Using the same $2,000 rent example, you will need to spend $1,500 on everyday purchases in the same month to earn the full 2,000 points form your rent payments. There is also no transaction fee with this earning option (see rates and fees).
American Airlines aircraft at Charlotte Douglas International Airport (CLT). SEAN CUDAHY/THE POINTS GUY
I love transferring my points to Atmos Rewards to book short-haul domestic flights on American Airlines. I frequently find award availability to fly American from Charlotte Douglas International Airport (CLT) to New York's LaGuardia Airport (LGA) or Louisville Muhammad Ali International Airport (SDF) to visit friends for 4,500 to 6,000 points.
I also enjoy transferring points to World of Hyatt, one of the most award-friendly programs. Thanks to Hyatt's lucrative award chart, you can book award nights at luxurious properties for solid rates.
You could also redeem points toward:
Amazon.com purchases directly
Bilt Collection purchases
Bilt Travel bookings
Fitness classes
Next month's rent or mortgage
However, these redemptions don't yield a value that matches our valuation of Bilt points at 2.2 cents apiece, so we don't recommend these routes.
Drawbacks to consider
It may be complicated for some cardholders to keep track of how much spending they'll need to put on the Bilt Obsidian Card to earn enough Bilt Cash to unlock full points on their housing payment (should they choose to earn this way).
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Another factor to consider is that 3x bonus points from grocery spending are capped at $25,000 in spending per year (then 1 point per dollar).
Finally, if you want more benefits and protections from a credit card, the Bilt Obsidian Card may not provide enough.
Comparing the Obsidian to other Bilt cards
If you're seeking a premium Bilt card with more perks and an elevated earning rate across all nonhousing purchases, the (see rates and fees) fits the bill.
The no annual fee (see rates and fees) is best if you won't maximize the bonus categories on the Bilt Obsidian, since it earns 1 point per dollar spent on all nonhousing purchases.
The is a great option for Bilt Rewards enthusiasts who want to keep annual fees low and maximize bonus categories, while earning points on mortgage or rent payments.
If you don't plan to use the Bilt Obsidian Card frequently on nonhousing purchases, you should skip it. You'll want to spend enough on the card to unlock the full points-earning on your rent or mortgage payments.
A cardholder who's ready to focus on Bilt, avoid a high annual fee and spend frequently in the Bilt Obsidian Card's bonus categories is in the perfect position to apply. Given the high value and flexibility of Bilt points, you won't want to miss out on them.
For rates and fees of the Bilt Obsidian Card, please click here.
For rates and fees of the Bilt Palladium Card, please click here.
For rates and fees of the Bilt Blue Card, please click here.
