10xTravel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. All values of Membership Rewards are assigned based on the assumption, experience and opinions of the 10xTravel team and represent an estimate and not an actual value of points. Estimated value is not a fixed value and may not be the typical value enjoyed by card members.
Bilt has just revealed plans to completely change its credit card lineup starting February 2026. The company will move from Wells Fargo to Cardless as its new card issuer. This change will bring three new card options: a no annual fee card, a $95 annual fee card, and a premium $495 annual fee card. Bilt promises that current cardholders will be moved smoothly to the new system. The company says it’s creating new cards based on what customers have asked for, including rewards for both rent and mortgage payments.
We won’t get all the details until fall 2025, but Bilt says nothing changes for now. This announcement comes as Bilt raised $250 million in funding, giving the company a huge $10.75 billion value. The current issues between Wells Fargo and Bilt may have pushed this change. Reports showed Wells Fargo was losing about $10 million monthly on the partnership, mainly because cardholders were using the cards mostly for rent payments rather than other purchases.
Our Take
Our main concern is whether the new cards will keep the best feature of Bilt – earning points on rent payments with no fee. The current system requires making five transactions per billing cycle to earn these rewards. We wonder if Cardless can make this profitable when Wells Fargo couldn’t. The three-tier system might add new benefits, but the value must be strong enough to justify any annual fees.
We’re especially curious about what the $495 premium card will offer that makes it worth the cost. For points and miles enthusiasts, the ability to transfer Bilt points to travel partners has been extremely valuable. Hopefully, these partnerships will remain intact or even expand. While Cardless has experience with co-branded cards, this is by far their biggest partnership yet. We’ll need to wait until next fall to see if these changes will help or hurt those who use Bilt to earn travel rewards on their rent payments.
New to the world of points and miles? The Chase Sapphire Preferred® Card is the best card to start with.
With a bonus of 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. , 5x points on travel booked through the Chase Travel Portal and 3x points on restaurants, streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs), this card truly cannot be beat for getting started!
Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
10xTravel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. All values of Membership Rewards are assigned based on the assumption, experience and opinions of the 10xTravel team and represent an estimate and not an actual value of points. Estimated value is not a fixed value and may not be the typical value enjoyed by card members.
Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
bonus cash back
after you spend $6,000 on purchases in the first 3 months from account opening
miles
once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
bonus points
after you spend $5,000 on purchases in the first 3 months from account opening.
Membership Rewards® Points
after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
