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Bilt to phase out 4% cash rewards for new cardholders

Digilifetrends Updated 2026-10-29 2 min read

Bilt says new customers will no longer be able to earn points plus 4% Bilt Cash on all spending. The change will apply to people who join from January 1, 2027. Existing cardholders can keep that earning setup if they decline Housing-Only Rewards, but future applicants will have fewer reward options.

Start date
January 1, 2027
New cardholders
Will not be able to earn points plus 4% Bilt Cash on all spend
Existing members
Can opt out of Housing-Only Rewards
Bilt Cash
Expires one year after it is earned

In the earlier setup, Bilt cardholders could select Housing-Only Rewards, which meant giving up the 4% Bilt Cash benefit in exchange for earning points on housing payments without paying a fee. That option was added soon after the launch of Bilt 2.0, after confusion and criticism over Bilt Cash. Under the updated policy, the new rules will apply to cardholders who join on or after the cutoff date, while current members may choose not to move to the new structure and continue earning 4%.

Why it matters

People who apply after the cutoff will lose the 4% cash-style return on everyday purchases, which reduces the value of the card outside housing payments. Current members also face a one-way decision, since Housing-Only Rewards cannot later be reversed to restore the cash benefit.

  • Bilt is set to streamline rewards for new cardholders in 2027, removing the choice between everyday-spending Bilt Cash and housing-focused points. Annual card credits will also change, and Bilt Cash will become usable for fewer hotel bookings. Existing cardholders will keep their options, and each dollar of Bilt Cash will remain valid for 12 months.

    via thepointsguy.com

  • Bilt has announced rewards changes for 2027, including a default shift in the way cardholders earn on housing payments. Members can keep the Bilt Cash option by opting out before their account anniversary, while hotel redemption limits will fall and Bilt Cash will get a longer redemption window.

    via onemileatatime.com

  • Bilt introduced Bilt Cash as a second rewards currency alongside Bilt Points in early 2026. Members can earn it through spending milestones or card benefits and redeem it for credits, travel, and experiences. Unused balances partially roll over each year.

    via thepointsguy.com

  • Bilt updated its terms to clarify how upgrades and downgrades affect bonuses and credits. Cardholders may lose welcome bonuses or redeemed annual credits if they switch within 30 days of a fee posting. The exact scope of the policy remains unclear, raising questions about fairness and common industry practice.

    via frequentmiler.com

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