New Bilt 2.0 credit cards: Revamped rewards on rent and mortgage payments

Core Insights - Bilt has expanded its offerings with the launch of Bilt 2.0, introducing three new rewards credit cards that now include homeowners for rewards on mortgage payments [1][2] Group 1: New Features of Bilt 2.0 - Bilt 2.0 allows users to earn rewards on both rent and mortgage payments, with options for transaction fees impacting points earned [4][5] - Users can choose between a 3% transaction fee to earn maximum points or avoid the fee by using Bilt Cash, which is a new rewards currency [5][6] - For example, a $1,500 monthly rent payment would require $45 Bilt Cash to cover the 3% fee while earning 1,500 Bilt Points [6][10] Group 2: Bilt Cash Mechanics - Bilt Cash is necessary to maximize rewards on housing payments, but rent and mortgage payments do not earn Bilt Cash directly [9][12] - Users can earn 4% Bilt Cash on everyday spending, which can be used to cover fees or boost points on housing payments [9][10] - Bilt Cash expires at the end of each calendar year, but up to $100 can be rolled over to the next year [12] Group 3: Overview of New Credit Cards - The Bilt Blue Card has no annual fee, offering 4% Bilt Cash on everyday spending and a $100 welcome bonus [14] - The Bilt Obsidian Card, with a $95 annual fee, provides additional rewards such as 3x points on dining or groceries and a $200 welcome bonus [15][16] - The Bilt Palladium Card, the premium option with a $495 annual fee, offers extensive benefits including a $300 sign-up bonus and 2x points on everyday spending [17][18] Group 4: Transition for Existing Cardholders - Existing Wells Fargo Bilt Mastercard holders can continue using their cards until February 6, with a transition to a new Bilt 2.0 card available without a new credit check [19] - Users will retain their Bilt Points and can still redeem them even if they choose not to switch to a new card [20]