[Rumor] Full Details Of Upcoming Bilt Cards

A rumor on r/creditcards (based on this Bilt Rewards page of code) reveals the full rumored details of the three upcoming Bilt cards.

The rumor has it that the new Bilt cards will no longer allow free rent/mortgage payments when using the Bilt card. Instead, they’re introducing something called Bilt Cash which can be used to cover the 3% fees.

Bilt Cash will be earned as a signup bonus, and will also be earned at a rate of 4% of your regular spend on the card. For example, if you spend $750 each month on your Bilt card on ordinary purchases, you’ll have $30 (4%) in Bilt Cash which can be used to offset $1,000 in rent/mortgage payments since that would usually cost 3% or $30.

Blue Card

• $0 annual fee
• Welcome Bonus: $100 Bilt Cash 
• Rewards: 1x points on all spend, including rent and mortgage payments
• You’ll also get 4% Bilt Cash on all regular spend (non rent/mortgage).
• No foreign transaction fees

Obsidian Card

• $95 annual fee
• Welcome Bonus: $200 Bilt Cash 
• Rewards: 
  • 3x points earned on Dining or Grocery (sounds like you’ll choose one)
  • 2x points earned on Travel
  • 1x points earned on Rent payment
  • You’ll also get 4% Bilt Cash on all regular spend (non rent/mortgage).
• $200 Bilt Cash welcome bonus
• $100 Bilt Travel Hotel credit (two $50 credits for the two halves of the year)
• Cellular Telephone Protection
• No foreign transaction fees

Palladium Card

• $495 annual fee
• Welcome bonus: 
• $300 Bilt Cash, plus 50,000 points bonus after $4,000 spend, also Gold status. 
• Rewards:
  • 2x points earned on all spend
  • 1x points earned on Rent payment
  • You’ll also get 4% Bilt Cash on all regular spend (non rent/mortgage).
• $400 Bilt Travel Hotel credit (two $200 credits for the two halves of the year)
• $200 Bilt Cash credit each year as an annual benefit
• Priority Pass
• No foreign transaction fees

Our Verdict

We wrote about Bilt 2.0 in this prior post, and we shared some initial rumors about the Bilt cards in this post. The new information paints a more complete picture, but we’ll have to see if it all turns out to be correct.

Basically, you’ll have to spend 75% of your rent/mortgage payment to make it free (unless you have Bilt Cash from a signup bonus or the like). E.g. if your rent is $4,000, then you’ll have to spend $3,000 to make it free. 

Overall, a lot to digest here in terms of if these cards are worthwhile. Depends a lot on how much you can gain from the rent/mortgage payment and how much regular spend makes sense to put on the card to help offset the fees of the rent/mortgage payments.