Key takeaways
- Bilt is eliminating the 4% Bilt Cash earning option for all new cardholders starting January 2027, replacing it with housing-only rewards of 1.25 points per dollar on rent and mortgage payments.
- Existing Palladium and Obsidian cardholders can preserve their 4% Bilt Cash option by opting in through the Bilt app before their card's annual anniversary, after which the election becomes permanent and irreversible.
- Cardholders who maintain 4% Bilt Cash can activate the point accelerator five times yearly, allowing them to earn 75,000 points annually on up to $25,000 in spending—a 3 points-per-dollar rate rarely matched by competitors.
- New applicants must apply for and be approved for a Bilt card by December 31, 2026 to have access to Bilt Cash; after that date, housing-only is the only available option for new cardholders.
Bilt is making a major change to how its credit cards earn rewards starting January 1, 2027. The most significant shift: new cardholders will no longer have access to the 4% Bilt Cash earning option. Instead, all new applicants will be restricted to the “housing-only” rewards structure, which earns up to 1.25 points per dollar on rent or mortgage payments only, with no cash earnings.
The change does not automatically affect current Bilt Palladium and Obsidian cardholders. Those holding these cards before 2027 can maintain their 4% Bilt Cash earning option—but maintaining it requires immediate action. The catch: you must opt in through the Bilt app before your card’s next annual anniversary, after which your choice becomes permanent and cannot be reversed.
Taking action before your card anniversary
The real deadline for existing cardholders isn’t January 1. It’s your individual card’s annual anniversary date, and the window to act is now. Bilt has already activated the opt-in functionality in its app, so cardholders can lock in their choice today rather than waiting until 2027.
The process is straightforward: log into the Bilt app, navigate to your rewards structure settings, and explicitly select the option to keep earning Bilt Cash. Once confirmed and your anniversary passes, this election becomes permanent. There’s no changing your mind afterward.
Nick Ewen, editor-in-chief at The Points Guy, demonstrates the flexibility of this timeline with his own card. His annual anniversary falls on February 15, 2027, technically giving him until then to make his selection. Nevertheless, he completed the opt-in process immediately, prioritizing peace of mind over waiting until his anniversary approached.
What happens if you miss the deadline
Cardholders who don’t affirmatively choose to keep Bilt Cash by their anniversary date will automatically convert to the housing-only structure. Once that conversion occurs, the ability to earn Bilt Cash is gone forever. This permanent nature of the change—and its irreversibility—makes acting sooner rather than later the prudent choice for cardholders who value the 4% earning rate.
The point accelerator: why Bilt Cash remains valuable
For existing cardholders considering whether to keep Bilt Cash, the answer often hinges on understanding Bilt’s point accelerator feature. Available exclusively to Palladium and Obsidian cardholders, this tool allows cardholders to convert $200 of Bilt Cash into an extra point per dollar on all purchases, up to $5,000 in spending per activation. The accelerator can be used up to five times each year, creating the potential to earn accelerator bonuses on up to $25,000 in annual spending.
How the accelerator works
Each accelerator activation requires $200 in Bilt Cash and provides a one-time bonus of an additional point per dollar on all card purchases, capped at $5,000 per activation. Since the accelerator can be used five times per year, cardholders can theoretically earn this bonus on up to $25,000 in spending annually. This feature is what makes the 4% Bilt Cash earning rate so compelling for Palladium and Obsidian holders.
The math with 4% Bilt Cash
When cardholders earn 4% Bilt Cash throughout the year and combine it with five accelerator activations, Palladium cardholders can achieve a 3 points-per-dollar earning rate on significant spending. According to The Points Guy’s calculations, this combination produces 75,000 points annually on $25,000 in qualifying purchases. That rate is rarely matched by competing travel credit cards, making the 4% Bilt Cash earning structure exceptionally valuable for strategic spenders.
What changes without 4% earnings
When the new 2027 structure takes effect and new cardholders can no longer earn Bilt Cash, the math shifts substantially. Instead of continuous 4% earnings throughout the year, the card would only provide $600 in Bilt Cash on the cardmember anniversary, plus an additional $50 for every 25,000 points earned through the year. That sum is sufficient to activate the accelerator three times—using $600 of the $1,000 required for all five activations—but falls $400 short of funding the fifth activation. The gap means missing out on 50,000 potential bonus points annually for cardholders who depend on the accelerator strategy.
Access for new cardholders: the December 31 deadline
For anyone not currently holding a Bilt card, 2027 represents a narrowing opportunity. To gain access to the Bilt Cash earning option before it closes to new applicants, you must apply for a Bilt card, receive approval, and open the account by December 31, 2026. After that date, every new cardholder will start under the housing-only structure with no option to switch, permanently locking them out of the 4% Bilt Cash earnings.
Choosing between Bilt Cash and housing-only rewards
The housing-only structure—earning 1.25 points per dollar on rent and mortgage payments—will become the default for all cardholders in 2027 and the only available option for new applicants. Some cardholders may prefer this simpler earnings model, which doesn’t require managing a separate currency or coordinating accelerator activations.
For those already using housing-only rewards, no action is necessary. To switch from Bilt Cash to housing-only, doing nothing is sufficient; housing-only becomes your default at your anniversary. However, The Points Guy recommends using their Bilt calculator to compare the two earning structures against your specific spending patterns before making a final decision.
What’s clear for existing cardholders: the time to preserve your access to 4% Bilt Cash earnings is now, not later. Waiting until January or closer to your anniversary date risks missing the deadline entirely.
Source: The Points Guy Articles
Frequently Asked Questions
What happens if I don't opt into Bilt Cash before my card anniversary?
Your account will automatically switch to the housing-only rewards structure on your anniversary date. Once this happens, you lose access to Bilt Cash permanently and cannot switch back, even if you later regret the decision.
How does the point accelerator work and why does it depend on Bilt Cash?
The accelerator allows Palladium and Obsidian cardholders to spend $200 in Bilt Cash to unlock an extra point per dollar on purchases up to $5,000, activatable five times yearly. Without the 4% Bilt Cash earnings, you'll generate only enough cash for three of five potential activations, costing you 50,000 bonus points annually.
Can new applicants still get access to Bilt Cash rewards?
Yes, but only if they apply for and are approved for a Bilt card by December 31, 2026 and select Bilt Cash as their reward structure. Any new cardholders approved after that date will automatically receive housing-only rewards with no option to earn Bilt Cash.
