By Mary Prenon
Bilt, one of America’s youngest credit card firms, founded in 2019, is launching a suite of three new Bilt 2.0 credit cards that will extend unique rewards to homeowners by allowing them to earn points on mortgage payments. Meanwhile, the company will offer an interest cap of 10 percent for the first year on these cards.
Bilt was originally designed to help young Americans build credit on rent payments, with the hope of creating a path to home ownership. Today, Bilt is available in nearly one in four apartment buildings nationwide, connecting housing payments with local neighborhood business.
“This is a win for renters. This is a win for homeowners. This is a win for Americans,” Bilt founder and CEO Ankur Jain said in the statement. “Bilt Card 2.0 offers rewards on your rent, rewards on your mortgage and earns you the most valuable points in the market. We’re not just launching three new cards, we’re rewarding the way people actually live.”
Everyday spending on the card determines the amount of points consumers can earn and unlock on housing payments. For every $30 in Bilt cash earned, homeowners and renters can unlock 1,000 Bilt Points when making rent or mortgage payments—including across multiple homes.
For example, if someone’s monthly rent is $2,000 and the renter has $60 of Bilt Cash, he or she can convert that into 2,000 points on the payment. Those points can be redeemed at restaurants, hotels, rideshares, and other local merchants. The same formula applies to mortgage payments.
Bilt also allows consumers to make rent or mortgage payments with no transaction fee, and there is no preset spending limit on housing payments. Cardholders can also opt in to its free reporting of on-time rent payments to major credit bureaus to help build their credit history.
The three new cards are powered in partnership with Cardless, Fidem Financial, and Column N.A. Cardholders can earn both points and 4 percent back in Bilt Cash every time they spend.
Each new cardholder also receives a 10 percent introductory annual percentage rate on new eligible purchases for 12 months, subject to terms and credit approval, aligning with President Donald Trump’s call on Jan. 9 for a one-year cap of 10 percent on credit card interest rates.
For rent or mortgage payments, Bilt recommends downloading the Bilt app and linking it to your bank account for easier payments. Using this method, the payment will be drawn directly from the bank instead of your credit line, but you will still earn points.
The three new cards include the Bilt Palladium Card, the Bilt Obsidian Card, and the Bilt Blue Card.
The Palladium Card carries a $495 annual fee and offers twice the number of points on everyday spending; a first-ever, limited-time 50,000 point sign-up bonus; $600 in annual credits; and additional premium benefits.
The Obsidian Card comes with a $95 annual fee and offers three times the points on dining or grocery purchases, as well as twice the points on travel. These cardholders also receive $200 in Bilt Cash upon opening the card, and $100 in annual Bilt Travel Hotel credits.
The Blue Card has no annual fee and offers $100 in Bilt Cash upon opening, as well as the overall benefits of points and 4 percent back in Bilt Cash for everyday purchases.
The company noted that current Bilt cardholders can choose one of the three new cards by Jan. 30 to ensure a seamless transaction. Consumers can keep their same card number, and subscriptions and autopay transactions will continue uninterrupted. New cards are set to arrive by Feb. 6.
Headquartered in New York City, Bilt is a $10.75 billion private company, with a housing membership platform used by millions of Americans.
