Bilt Rewards is one of the most unique loyalty programs in the credit card space, built around a concept that no other major issuer has meaningfully cracked: earning points on housing payments. Whether you pay rent or a mortgage, Bilt gives you a path to earn transferable points on your single largest monthly expense, which for most people represents spending that has historically earned nothing.
The program has three Mastercard credit cards issued by Cardless at different price points, each earning points in the Bilt Rewards program. Those points transfer to over 20 airline and hotel partners at a 1:1 ratio, including some of the most valuable programs available anywhere: Alaska Airlines Mileage Plan, Air Canada Aeroplan, Air France-KLM Flying Blue, Emirates Skywards, and World of Hyatt. The program also runs monthly Rent Day transfer bonuses that can push the value of your points even further.
The three cards are substitutes, not complements. You can only hold one Bilt credit card at a time. The decision comes down to how much you spend, how much you pay in housing, and whether the premium card’s benefits stack justifies its annual fee. Below I walk through all three cards, how Bilt Cash and elite status work, and the transfer partner lineup that makes the points valuable.
Compare Bilt credit cards
Bilt Palladium Card
50,000 Bilt Points + Gold Status offer
- 2X points on everyday purchases
- Earn up to 1.25X points on rent and mortgage payments
- $400 Bilt Travel Hotel credit
Earn up to 1.25X points on rent and mortgage payments with no transaction fee, and 2X points on everyday spend.
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- Earn up to 1.25X points on rent and mortgage payments with no transaction fee.
- 2X points on everyday spend
- $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- $200 Bilt Cash (awarded annually). At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
- Priority Pass ($469/year value). See Guide to Benefits.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.
- Earn additional points through Bilt Neighborhood Benefits™ when you use your card at Bilt's network of 50,000+ merchant partners.
Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash. Up to $100 of Bilt Cash earned rolls over to the next year.
Bilt Blue Card
$100 of Bilt Cash offer
- Earn up to 1.25X points on rent and mortgage payments
- No Annual Fee
- No Foreign Transaction Fees
Earn up to 1.25 points on rent and mortgage payments with no transaction fee, and 1 point on everyday spend.
Learn more from these OMAAT posts:
- Earn up to 1.25X points on rent and mortgage payments with no transaction fee.
- 1X points on everyday spend.
- Welcome offer: $100 of Bilt Cash when you apply and get approved. At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.
- Earn additional points through Bilt Neighborhood Benefits™ when you use your card at Bilt's network of 50,000+ merchant partners.
- Other benefits: No foreign transaction fees, Cellular Wireless Telephone Protection, Purchase Assurance, MasterRental Coverage (See Guide to Benefits)
Welcome offer: $100 of Bilt Cash when you apply and get approved. At the end of each calendar year, any Bilt Cash balance over $100 will expire.
Bilt Obsidian Card
Earn $200 Bilt Cash when you apply and get approved.
- Earn up to 1.25X points on rent and mortgage payments
- 2X points on travel
- No Foreign Transaction Fees
3X points on your choice of grocery (up to $25K/year then 1x) or dining. Your 3X category choice remains in effect for the entire calendar year.
2X points on travel
1X points on everyday spend
Learn more from these OMAAT posts:
- Earn up to 1.25X points on rent and mortgage payments with no transaction fee.
- 3X points on your choice of grocery (up to $25K/year) or dining. Your 3X category choice remains in effect for the entire calendar year.
- 2X points on travel
- 1X points on everyday spend
- Welcome offer: $200 of Bilt Cash when you apply and get approved. At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- $100 Bilt Travel Hotel credit. Applied twice a year, as $50 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.
- Earn additional points through Bilt Neighborhood Benefits™ when you use your card at Bilt's network of 50,000+ merchant partners.
Welcome offer: $200 of Bilt Cash when you apply and get approved. At the end of each calendar year, any Bilt Cash balance over $100 will expire.
The three Bilt cards
You can only hold one Bilt credit card at a time, so the choice between these three products is a direct tradeoff. All three cards can earn 4% back in Bilt Cash on all purchases and offer up to 1.25 points on rent and mortgage payments when funded with Bilt Cash. The differences in rewards structure, welcome bonus, and benefits are what drive the decision.
Top pick: Bilt Palladium Card
The Bilt Palladium Card is the card that makes the Bilt ecosystem compelling for most people who are serious about earning points on housing. It earns 2x Bilt Rewards points on all eligible purchases with no category restrictions, plus the option to choose 4% back in Bilt Cash on all spending. Bilt Points transfer to over 20 airline and hotel partners at a 1:1 ratio, and at my valuation of 1.7 cents per point, the 2x earn rate represents a 3.4% return on every dollar spent before factoring in the Bilt Cash.
The card’s welcome bonus is the only one in the lineup that includes points: 50,000 Bilt Points and Bilt Gold status after $4,000 in spending within the first three months, plus $300 in Bilt Cash on approval. At 1.7 cents per point, those 50,000 points are worth $850, which alone more than covers the first year’s annual fee. The ongoing benefits include $200 in Bilt Cash deposited at the start of each year, up to $400 in annual hotel credits through the Bilt travel portal (in two $200 semi-annual credits with a two-night minimum stay), and a Priority Pass membership with up to two complimentary guests per visit. A maximum benefit amount and certain restrictions and limitations apply. Please review (the Mastercard Guide to Benefits) for details.
Where the Palladium really separates itself is in how the Bilt Cash mechanics interact with heavy spending. Every $5,000 in spending generates $200 in Bilt Cash, which can be redeemed to unlock an extra 1x points on the next $5,000 of spending, effectively pushing the earn rate to 3x on that tranche. This accelerator is available up to five times per year, covering up to $25,000 in spending at 3x. For someone spending $100,000 per year on the card, the combination of 2x base earn, the accelerator mechanics, and the ability to earn points on housing payments creates a points accumulation rate that is genuinely difficult to match with any other personal card.
The main limitations worth flagging: tax payments are excluded from earning points, which is an unusual carve-out that no other major issuer makes. And the $495 annual fee requires meaningful spending to justify, with the Bilt Cash mechanics and hotel credits doing most of the heavy lifting. That said, for a big spender who pays rent, there is no card that delivers a comparable combination of flat-rate earn, housing points, and partner quality.
Verdict: The obvious choice for high spenders who pay rent or a mortgage and want to maximize points on every dollar. The welcome bonus alone justifies the first-year fee, and the Bilt Cash accelerator makes the ongoing math compelling at scale. Give it at least a year.
Link: Apply for a Bilt credit card
Runner-up: Bilt Obsidian Card
The Bilt Obsidian Card earns 3x points on your choice of dining or groceries (you pick one; dining is uncapped, groceries are capped at $25,000 per year), 2x on travel, and 1x on everything else, plus the choice of 4% Bilt Cash on all purchases. For a $95 annual fee card, the 3x on a major spending category is genuinely strong, and the Bilt Cash mechanics work the same way as on the Palladium, meaning you can still unlock the points accelerator and earn points on housing payments.
The card’s welcome bonus is $200 in Bilt Cash on approval, which is meaningfully less exciting than the Palladium’s 50,000-point bonus. The only recurring credit is a $100 annual hotel credit through the Bilt portal, in two $50 semi-annual credits with a two-night minimum stay. Authorized users can be added for $50 each.
Here is what the math looks like in practice for a moderate spender. Assume $50,000 in annual card spending. That generates $2,000 in Bilt Cash, conservatively. Deploying $1,000 of that via five accelerator activations earns an additional 25,000 points on spending. The remaining $1,000 in Bilt Cash unlocks 1x points on over $33,000 in housing payments. Combined with the base 3x on dining or groceries and 2x on travel, a $50,000 spender using the Obsidian can realistically accumulate over 108,000 Bilt Points annually before accounting for any housing payments or bonus category spending. The $95 annual fee is easy to justify at that level.
Where the Obsidian falls short relative to the Palladium is everywhere outside those bonus categories. The 1x on everyday non-bonused spending leaves a lot on the table compared to the Palladium’s flat 2x, and the Obsidian’s welcome bonus contains no transferable points. For someone who spends heavily outside dining, groceries, and travel, the gap between the two cards widens considerably at higher spending volumes.
Verdict: The right pick for moderate spenders who concentrate on dining or groceries and want Bilt’s housing rewards at a manageable annual fee. The math works clearly at $50,000 in annual spending. But if you can justify the $495 fee, the Palladium’s welcome bonus, 2x flat earn, and richer benefits stack pull ahead for anyone who spends broadly across categories or pushes toward six figures annually.
Link: Apply for a Bilt credit card
Bilt Blue Card
The Bilt Blue Card earns 1x points on all purchases plus the choice to earn 4% Bilt Cash, with no annual fee. The welcome bonus is $100 in Bilt Cash on approval. At 1x points on everyday spending, the Blue Card is a hard sell when there are no-fee cards from other issuers earning 2x transferable points on everything. The primary reason to hold the Blue Card is as an entry point to the Bilt ecosystem for someone who pays rent and wants to earn points on housing payments without any annual fee exposure, or as a downgrade option from the Obsidian or Palladium when you want to preserve access to the program.
Verdict: Difficult to recommend as a primary card given the 1x earn rate. Worth considering only if you have meaningful housing payments and want zero annual fee risk, or as a long-term keeper card to maintain account history after downgrading.
Link: Apply for a Bilt credit card
How Bilt Cash works
Bilt Cash is a separate currency from Bilt Points, and it is central to how the housing rewards system operates. Every Bilt credit card has the option to earn 4% back in Bilt Cash on all purchases, in addition to the standard point earn. Members also earn $50 in Bilt Cash for every 25,000 Bilt Points earned through any means, and the Palladium deposits $200 in Bilt Cash at the start of each calendar year as an ongoing benefit.
Bilt Cash expires on December 31 of the year in which it is earned, though up to $100 can roll over to the following year. It shows as a separate balance in the Bilt wallet.
Redeeming Bilt Cash for housing points
The most foundational use of Bilt Cash is unlocking points on rent and mortgage payments. Every $30 in Bilt Cash unlocks 1x points on up to 1,000 dollars of housing spending. To put that in practical terms: if you spend $15,000 on a Bilt card in a year, you earn $600 in Bilt Cash, which is enough to earn 1x points on up to $20,000 in housing payments. The rough rule of thumb is that you need to spend about 75% of your monthly housing payment on the card to generate enough Bilt Cash to cover earning points on that housing payment, not counting welcome bonuses, the annual Palladium deposit, or the 25,000-point threshold bonuses.
Redeeming Bilt Cash for the points accelerator
For Obsidian and Palladium cardmembers, Bilt Cash can be redeemed to unlock an extra 1x points on the next $5,000 of spending, at a cost of $200 per activation. Up to five activations are available per calendar year, covering up to $25,000 of spending at the bonus rate. On the Palladium, this effectively turns 2x into 3x for that tranche. On the Obsidian, it turns non-bonused 1x into 2x. Every $5,000 in spending generates exactly the $200 in Bilt Cash needed to unlock one activation, so for high spenders the accelerator can essentially self-fund indefinitely.
Other Bilt Cash redemptions
Bilt Cash can also be redeemed toward hotel bookings through the Bilt travel portal (up to $1,200 per year, in increments up to $100 per month for Gold and Platinum members), dining experience credits, select restaurant credits at Bilt Dining partner locations, Blacklane credits (up to $150 per year for Platinum members), Lyft credits ($10 per month), Walgreens credits ($10 per month), and Grubhub delivery credits ($10 per month). Starting soon, up to $700 per year in Bilt Cash can be applied toward BLADE airport helicopter flights at up to $350 per seat.
The monthly credits in small increments are real value but require attention to use consistently. The most financially meaningful uses of Bilt Cash beyond housing remain the points accelerator and the Rent Day transfer bonus upgrade, which allows you to access a higher status tier’s transfer bonus by paying $75 to $135 in Bilt Cash per event.
Bilt Rewards transfer partners
The partner lineup
Bilt Rewards transfers to over 20 airline and hotel partners, most at a 1:1 ratio. What sets Bilt apart from other transferable points currencies is the unique combination of partners it offers. Alaska Airlines Mileage Plan and World of Hyatt are the two most notable. Having both in the same program, alongside a broad set of common partners like Aeroplan, Flying Blue, and Emirates, makes Bilt one of the most strategically interesting currencies available.
Alaska Airlines Mileage Plan
Alaska Mileage Plan is one of the most partner-rich programs in the world, with redemption options across all three major alliances plus a wide range of independent carriers. Alaska miles are particularly valuable for premium cabin redemptions on partners like Cathay Pacific, Finnair, and Japan Airlines. No other major transferable points currency transfers to Alaska at a meaningful rate, making Bilt a unique path into the program for non-Alaska cardholders.
World of Hyatt
World of Hyatt is the most valuable hotel loyalty program for aspirational redemptions, with award nights at luxury properties available at rates that far exceed what cash back or other hotel currencies can match. Bilt transfers to Hyatt at 1:1, and like Alaska, Hyatt is not accessible as a 1:1 transfer partner from any other major transferable points program. For someone who wants to use points for luxury hotel stays, this partnership alone makes Bilt worth engaging with.
Air Canada Aeroplan and Air France-KLM Flying Blue
Both Aeroplan and Flying Blue transfer at 1:1 and are among the most versatile programs for international premium cabin redemptions. Aeroplan covers Star Alliance and dozens of additional partners with free stopover privileges. Flying Blue covers SkyTeam with strong transatlantic pricing and regular Promo Rewards sales. Both are also accessible through Amex, Capital One, Chase, and Citi, meaning Bilt Points can be pooled toward common redemptions across programs.
Emirates Skywards
Emirates transfers at 1:1 and is the primary vehicle for booking Emirates awards, including first class. For anyone targeting an Emirates first class redemption, building a combined balance across Amex and Bilt is a natural approach.
Rent Day transfer bonuses
On the first day of every month, Bilt runs a Rent Day promotion that typically includes transfer bonuses to select partners, with the bonus size tied to your Bilt elite status. Higher status tiers receive larger bonuses, and it is also possible to use Bilt Cash to upgrade your effective status tier for a given Rent Day, accessing a better bonus for $75 to $135. For members with a specific partner redemption in mind, timing a large transfer to coincide with a Rent Day bonus for that partner can meaningfully increase the value of your points.
Bilt Elite status
Bilt has four membership tiers: Blue, Silver, Gold, and Platinum. Status can be earned either by accumulating qualifying Bilt Points in a calendar year or by reaching spending thresholds across linked purchases. Status earned in a given year is valid through the end of the following year.
Status requirements
Bilt Silver requires 50,000 qualifying points or $10,000 in eligible spending. Bilt Gold requires 125,000 qualifying points or $25,000 in eligible spending. Bilt Platinum requires 200,000 qualifying points or $50,000 in eligible spending. For Palladium cardmembers earning 2x points on all purchases, Platinum status is reachable with $100,000 in annual card spending, or $25,000 in spending combined with other point-earning activity.
Key status benefits
Access to better Rent Day promotions is the most practically valuable status benefit, though the exact size of each month’s differentiated offer is not published in advance. Bilt Platinum members receive Air France-KLM Flying Blue Gold status, which unlocks SkyTeam Elite Plus, by transferring 10,000 Bilt Points to Flying Blue. This comes with lounge access on many itineraries, priority services, and complimentary seat selection on Air France and KLM flights. The status match is valid for 12 months and can be renewed annually.
Bilt Platinum members also receive one free BLADE flight per year between EWR or JFK and Manhattan, or between Nice and Monaco, plus lounge access at BLADE facilities when not flying. Gold members get BLADE lounge access and a 10% discount on airport flights. Silver and above receive the best Rakuten transfer ratio, converting cash back from Rakuten shopping into Bilt Points at 1:1.
Bilt card considerations
You can only hold one Bilt card
Unlike every other program covered in this series, Bilt cards are mutually exclusive. You cannot hold the Obsidian alongside the Palladium to capture multiple welcome bonuses or stack earning structures. The decision is a one-time choice per Bilt account, and upgrading or downgrading between products is possible but forfeits the welcome bonus on the new tier. Given that the Palladium’s 50,000-point welcome bonus is the only one in the lineup that includes transferable points, there is a strong incentive to start with the Palladium if you are going to engage with the program seriously.
Tax payments are excluded
Bilt explicitly excludes tax payments from earning points, which is an unusual policy not matched by any other major card issuer. For high earners who pay large tax bills by credit card, this is a meaningful gap. Any spending that would otherwise go to a tax payment needs to be routed to a different card in those months.
Bilt Cash has an annual expiration
Bilt Cash expires on December 31 of the year it is earned, with a maximum of $100 rolling over. For big spenders accumulating large Bilt Cash balances, this creates a year-end use-it-or-lose-it dynamic. The points accelerator is the most efficient way to deploy excess Bilt Cash before year end, followed by the housing payment unlock for anyone with remaining mortgage or rent capacity.
The hotel portal credits have restrictions
Both the Palladium’s $400 and the Obsidian’s $100 in annual hotel credits require a two-night minimum stay and must be booked through the Bilt travel portal. Booking through the portal typically means forfeiting loyalty points and elite night credits with the hotel program. For cardholders who already extract significant value from hotel elite status, these credits may be worth less than face value in practice.
Bilt is best as a complement, not a replacement
Bilt Points share many transfer partners with Amex, Capital One, Chase, and Citi, meaning the programs are highly complementary. The unique value Bilt adds to any existing portfolio is the Alaska Mileage Plan and World of Hyatt partnerships, plus the ability to earn points on housing. For most cardholders, the optimal approach is to use the Bilt card for housing payments and Bilt-specific earning, while routing other spending to whichever program has the strongest bonus categories for each purchase.
Bottom line
Bilt Rewards is the only program that meaningfully solves the housing payment problem for points collectors. If you pay rent or a mortgage, those payments have historically been dead money from a rewards perspective. Bilt changes that, and for anyone who pays significant housing costs each month, getting even 1x points on those payments through the Bilt Cash mechanics adds up to a meaningful annual points total that no other program can match.
The Palladium Card is where the program’s value concentrates. The 50,000-point welcome bonus more than pays for the first year, the 2x flat earn is exceptional for everyday spending, and the Bilt Cash accelerator creates a path to effective 3x on up to $25,000 in spending annually. Add Alaska Mileage Plan and World of Hyatt as unique transfer partners not available through any other major program, and the Bilt Palladium occupies a specific and genuinely useful niche in a well-rounded card portfolio.
My recommendation: if you pay rent or a mortgage and spend meaningfully on credit cards, the Bilt Palladium is worth applying for, particularly given the first-year welcome bonus. Use it for housing payments and non-bonused everyday spending where you do not have a stronger option elsewhere, and deploy Bilt Cash toward the points accelerator and housing unlock in that order. Route dining, groceries, travel, and airfare to whichever other cards in your portfolio earn the strongest bonus on those categories.
Bilt credit card FAQs
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