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Bilt Card 2.0: what changed with the 2026 relaunch
Updated
6 min readFrom one card to three
Bilt launched its original card in 2021 as a single Wells Fargo-issued Mastercard with no annual fee. In February 2026, Bilt replaced it with a three-card lineup issued by Column N.A. under license from Mastercard, with Cardless handling servicing: Bilt Blue at $0 annual fee, Bilt Obsidian at $95, and Bilt Palladium at $495.
Existing cardholders were told to keep using their original Wells Fargo Bilt Mastercard rather than closing it immediately, with a transition path to the new cards that involved only a soft credit pull, meaning it did not affect their credit score to move over.
What is genuinely new
- check_circleMortgage payments now earn Bilt Points for eligible cardholders, regardless of mortgage lender, which was not available under the original program.
- check_circleThe old requirement to make five separate transactions in a billing cycle to unlock rent points with no fee is gone under the new structure.
- check_circleRent and mortgage earning moved to a tiered system based on how much you spend on non-housing purchases relative to your housing payment each cycle, from a flat 250 points at low relative spending up to 1.25 points per dollar at 100%-plus relative spending.
- check_circleA separate 'Bilt Cash' path was introduced: 4% back in Bilt Cash on non-housing spending, redeemable at 3 cents per unit to unlock up to 1 point per dollar on housing.
- check_circleObsidian added a choice of 3x categories (dining or grocery, up to $25,000 a year), and Palladium added a flat 2x on general purchases outside rent and mortgage.
Table: old program versus Bilt 2.0
| Feature | Original Bilt Mastercard | Bilt 2.0 (Feb 2026 onward) |
|---|---|---|
| Issuer | Wells Fargo | Column N.A., serviced by Cardless |
| Card options | One card, $0 annual fee | Three cards: Blue ($0), Obsidian ($95), Palladium ($495) |
| Rent earning requirement | 5 transactions per statement period to waive the fee and earn points | No transaction count requirement; rate depends on non-housing spend ratio |
| Mortgage earning | Not available | Available for eligible cardholders regardless of lender |
| Rent point rate | Flat 1 point per dollar (with the 5-transaction requirement met) | Tiered 0 to 1.25 points per dollar based on spend ratio, or up to 1 via Bilt Cash redemption |
What to double check before you apply or transition
Because the earning structure moved from a flat rate to a tiered one, your actual rewards on rent now depend on your broader monthly spending pattern, not just the fact that you pay rent on the card. Model your typical non-housing spend against your rent amount before assuming you will land in the top 1 or 1.25 point tier.
Common questions
Do I have to switch to a Bilt 2.0 card if I already have the original Bilt Mastercard?expand_more
Bilt's own transition guidance was to keep using the original Wells Fargo card and not close it right away, while being offered a path to one of the new Column-issued cards with only a soft credit pull.
Which Bilt 2.0 card should I get?expand_more
It depends on your spending and whether you want the added categories and higher welcome offer that come with Obsidian or Palladium's annual fees, versus staying with the no-fee Blue card and its simpler structure.
Does Bilt 2.0 still have no transaction fee on rent?expand_more
Yes, none of the three Bilt 2.0 cards charge a transaction fee on eligible rent or mortgage payments.
Keep reading
Rewards programs that let you earn points on rent with no fee
As of July 2026, Bilt is the main no-fee way to earn points on rent directly. Here are the tradeoffs against fee-based alternatives.
Comparing welcome offers when rent is your biggest monthly expense
If rent is your largest bill, compare welcome offers by how fast your real spending clears the minimum, not just the headline bonus size.
What to compare beyond the points rate on a rent rewards card
Points per dollar is only one piece. Here is how to weigh fees, protections, redemption limits, and reliability before you pick a rent rewards card.
Bilt transfer partners versus Chase, Amex, and Citi ecosystems
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