Should you ever cancel a credit card? Bilt’s confusing rewards shake-up puts renters in a tough spot.

With a looming deadline to preorder the new card, current users face a choice: opt in for a new bank partner and skimpier rent rewards, or see their account converted to a standard Wells Fargo card that offers no housing rewards at all.For points enthusiasts, Bilt 2.0 offers more opportunities to earn points that can be spent on hundreds of dollars’ worth of new statement credits. For the set-it-and-forget-it renter — someone who signed up with Bilt primarily to earn points on their largest monthly bill wit ...