Key Points

• Bilt Card 2.0 launched February 7, 2026 with new merchant exclusions including eBay, Facebook Marketplace, and all tax payments.
• The exclusions apply to all three new Bilt cards (no fee, $95, and $495 tiers) issued by Cardless.
• Existing Wells Fargo Bilt cardholders had their cards deactivated February 7, 2026 unless they transitioned to Bilt 2.0.

Introduction

The Bilt Rewards program just went through its biggest transformation ever. On February 7, 2026, Bilt launched three new credit cards through Cardless, completely replacing the Wells Fargo-issued Bilt Mastercard that revolutionized rent rewards.

Along with this massive overhaul came significant changes to what purchases earn rewards. If you're considering one of the new Bilt cards or recently transitioned from the old Wells Fargo version, you need to understand these new merchant exclusions—they're stricter than before and affect more everyday purchases.

Here's everything you need to know about what changed, which purchases no longer earn rewards, and how to maximize the new Bilt Card 2.0 despite these restrictions.

What Changed with Bilt Card 2.0

The transition from Wells Fargo to Cardless as Bilt's issuing bank brought fundamental changes to how the program works. The old Wells Fargo Bilt Mastercard stopped working entirely on February 7, 2026, forcing all existing cardholders to make a decision.

The Three New Bilt Cards

Bilt now offers three card tiers, each with different annual fees and benefits:

Bilt World Elite Mastercard ($0 annual fee)

• Base-level rewards with rent/mortgage earning
• Requires Bilt Cash to unlock full rewards on housing payments

Bilt Obsidian Card ($95 annual fee)

• Choice of 3x category (dining or grocery)
• Annual hotel credit
• Enhanced earning potential

Bilt Palladium Card ($495 annual fee)

• 2x points on all non-bonused purchases
• Premium hotel credit
• Highest tier benefits

All three cards share the same merchant exclusions—a critical detail many cardholders missed during the rushed transition.

Complete List of Merchant Exclusions

The new Bilt Card 2.0 terms significantly expanded what purchases don't earn rewards. Here's the comprehensive exclusion list based on the official terms:

Financial Transactions (Newly Excluded)

• Tax payments (federal, state, local, property)
• Money orders
• Wire transfers
• Traveler's checks
• Cash advances
• Balance transfers
• Prepaid gift cards

Online Marketplaces (Newly Excluded)

• eBay (all transactions)
• Facebook Marketplace
• Third-party payment accounts
• Purchases using mobile/wireless card readers
• Mobile or digital wallet purchases at certain merchants

Traditional Exclusions (Carried Over)

• ATM charges
• Fees and interest charges
• Casino gaming
• Online betting/wagers

The most surprising additions? Tax payments and popular reselling platforms like eBay and Facebook Marketplace. These exclusions apply to both earning Bilt Points and Bilt Cash—meaning you get nothing on these purchases.

Why Tax Payment Exclusion Matters

Unlike virtually every other rewards credit card on the market, Bilt Card 2.0 won't earn any rewards on tax payments. This represents a significant departure from industry norms.

The Financial Impact

Most credit cards charge 1.85-1.98% to pay taxes through processors like Pay1040 or PayUSAtax. Before Bilt 2.0, savvy cardholders could use tax payments to:

• Meet minimum spending requirements for welcome bonuses
• Earn points on large quarterly estimated tax payments
• Hit annual spending thresholds for benefits

With Bilt excluding tax payments entirely, you'll need to use alternative cards for this strategy.

What Other Cards Allow

For comparison, these cards still earn rewards on tax payments:

Chase Sapphire Preferred

• Earns 1x point per dollar on tax payments
• Points worth 1.25 cents each when transferred to partners
• 60,000-point welcome bonus after $4,000 spend

American Express Gold Card

• Earns 1x Membership Rewards point per dollar
• Can transfer to 21 airline and hotel partners
• 4x points on dining and U.S. supermarkets

Citi Double Cash Card

• Earns 2% cash back (1% when you buy, 1% when you pay)
• Can convert to ThankYou points if you have Citi Premier
• No annual fee

The effective "cost" of buying points through tax payments with these cards ranges from 0.85 to 1.15 cents per point—extremely valuable for high-value award redemptions. Learn more about maximizing point values in our Chase Ultimate Rewards complete guide.

The eBay and Online Marketplace Problem

Bilt's exclusion of "online marketplaces" creates significant ambiguity that's frustrating current cardholders.

What We Know Is Excluded

According to the terms, you won't earn rewards on:

• eBay purchases (confirmed explicitly)
• Facebook Marketplace transactions (confirmed explicitly)
• Other peer-to-peer selling platforms (implied)

What Remains Unclear

The terms don't clarify whether these platforms are excluded:

• Etsy - Is this considered an "online marketplace"?
• Amazon Marketplace sellers - Third-party sellers on Amazon?
• Mercari, Poshmark, Depop - Similar reselling platforms?

This ambiguity means you might not earn rewards on purchases you'd reasonably expect to qualify. The safest assumption: if it's primarily a platform for individuals to sell to each other, Bilt probably excludes it.

Why This Matters

For collectors, hobbyists, or anyone who regularly shops on these platforms, the exclusions eliminate a major spending category. If you spend $500 monthly on eBay for collectibles or business inventory, that's 6,000 potential points annually you won't earn with Bilt.

What Changed from the Old Bilt Card

If you held the Wells Fargo-issued Bilt Mastercard before February 2026, these exclusions represent significant changes.

Old Wells Fargo Bilt Card

The original card's terms did exclude some of these categories from bonus points, but the language and enforcement were less strict. Importantly:

• Tax payments were excluded from earning double points on Rent Day but still earned base points
• Online marketplace language was less explicit
• The 5-transaction monthly minimum was simpler to meet

New Bilt Card 2.0

The new terms completely exclude these purchases from earning any rewards whatsoever—no points, no Bilt Cash, nothing. This applies across all three card tiers.

Additionally, the new earning structure for rent and mortgage payments fundamentally changed. Instead of automatic 1x points on rent, you now need to earn Bilt Cash through everyday spending to "unlock" rewards on housing payments.

The New Rent and Mortgage Earning Structure

This is where Bilt Card 2.0 gets complicated—and where the merchant exclusions become even more impactful.

How It Works Now

To earn 1x point per dollar on rent or mortgage payments with Bilt Card 2.0, you must:

1. Earn Bilt Cash through eligible everyday purchases (not excluded merchants)
2. Apply Bilt Cash to offset the 3% processing fee for housing payments
3. Earn points only on the portion of rent/mortgage covered by Bilt Cash

Example: Your rent is $2,000 monthly

• You earn $40 in Bilt Cash from everyday spending
• You can unlock 1,333 points on your rent payment ($40 ÷ 3%)
• To earn the full 2,000 points, you'd need $60 in Bilt Cash or pay the $20 difference

Why Exclusions Compound the Problem

Because tax payments, eBay, and other excluded merchants don't earn Bilt Cash, you have fewer opportunities to accumulate the cash needed to unlock housing payment rewards.

If a significant portion of your monthly spending falls into excluded categories, you might struggle to earn enough Bilt Cash to offset the 3% fee on your full rent or mortgage payment.

Who These Changes Hurt Most

The new merchant exclusions and earning structure aren't equally painful for all cardholders.

Most Impacted Groups

Self-Employed Individuals

• Quarterly estimated tax payments excluded
• Can't use large tax bills to meet spending requirements
• Often shop on eBay/marketplaces for business supplies

Resellers and Small Business Owners

• eBay and marketplace exclusions eliminate major spending category
• Can't earn on inventory purchases through these platforms
• Property tax payments excluded for business properties

High Tax Bill Payers

• Can't offset the 1.85% payment processing fee with rewards
• Need alternative cards for this spending
• Lose thousands of potential points annually

Homeowners with Property Taxes Outside Escrow

• Semi-annual property tax payments excluded
• Often $5,000-10,000+ per payment
• Previous strategy of earning rewards no longer works

Who's Less Affected

Traditional Renters

• If most spending is dining, groceries, travel (not excluded)
• Don't have tax payment strategies anyway
• Primarily use card for rent and everyday purchases
• For additional rent rewards strategies, see our authorized user guide for family travel

Credit Card Beginners

• Weren't using tax payment strategies
• Don't shop heavily on excluded platforms
• Attracted to the no-fee rent rewards
• New to points? Start with our introduction to credit cards

Strategic Alternatives for Excluded Purchases

Smart cardholders are adapting by using the right card for each purchase category.

For Tax Payments

Since Bilt excludes taxes entirely, consider these alternatives:

Best for Meeting Minimum SpendIf you need to hit a welcome bonus spending requirement, paying taxes can get you there fast:

Chase Sapphire Reserve

• 1x point per dollar on tax payments
• 75,000-point welcome bonus after $4,000 spend
• $300 annual travel credit helps offset $550 annual fee
• 10x points on hotels and car rentals through Chase

The Platinum Card from American Express

• 1x point per dollar on tax payments
• 125,000-point welcome bonus after $8,000 spend
• 5x on flights booked directly with airlines
• Extensive travel credits and benefits

Capital One Venture X

• 2x miles per dollar on everything including taxes
• 100,000-mile welcome bonus
• $300 annual travel credit

For a comprehensive look at using tax payments strategically, see our guide on how to use credit cards for expensive bills.

Best for Ongoing Value

Citi Double Cash Card

• 2% cash back on all tax payments
• Converts to ThankYou points if you have Citi Premier or Prestige
• No annual fee
• Straightforward earning without exclusions

Chase Freedom Unlimited

• 1.5% cash back on all purchases including tax payments
• 5% on travel through Chase Ultimate Rewards portal
• Combines with Chase Sapphire Preferred for transfer partners
• No annual fee

For eBay and Online Marketplace Purchases

PayPal Cashback Mastercard

• 2% cash back unlimited on all purchases
• No annual fee
• Works seamlessly for any PayPal checkout

Capital One Venture X

• 2x miles per dollar on everything including eBay
• 10x on hotels, 5x on flights through Capital One Travel
• $395 annual fee ($295 net after $300 travel credit)
• Premium travel benefits and lounge access

Chase Sapphire Reserve

• 3x points on travel and dining
• 10x on hotels and car rentals through Chase
• Premium card with extensive travel protections
• $550 annual fee offset by $300 annual travel credit

For General Spending (Building Bilt Cash)

Since you need Bilt Cash to unlock rent/mortgage rewards, maximize earning in non-excluded categories:

Use Bilt Card For

• Restaurant dining (3x points on Obsidian/Palladium)
• Grocery shopping (3x on Obsidian if selected as category)
• Travel bookings (2x base + category bonuses)
• Regular shopping at non-excluded retailers

Use Other Cards For

• Tax payments (consider Citi Double Cash for 2% back)
• eBay/marketplace purchases (Capital One Venture X for 2x miles)
• Any purchase where you'd earn more elsewhere

Understanding which card to use for each category is key—our best cash back credit cards guide can help you build a complete wallet strategy.

Is Bilt Card 2.0 Still Worth Getting?

Despite these exclusions, the answer for renters and new homeowners might still be yes—but with important caveats.

Strong Reasons to Get Bilt Card 2.0

No-Fee Rent Rewards Still ExistEven with the Bilt Cash requirement, the ability to earn rewards on rent payments remains unique. No other major card offers this without transaction fees (services like Plastiq charge 2.5-3%).

Mortgage Payment OpportunityThe expansion to mortgage payments is genuinely innovative. If you're buying a home and can accumulate Bilt Cash through everyday spending, earning on your mortgage is powerful.

Excellent Transfer PartnersBilt's 100+ transfer partners include valuable programs like:

• Hyatt (often 2+ cents per point value)
• American Airlines (with 1.25x transfer bonus)
• United MileagePlus
• Air Canada Aeroplan
• Virgin Atlantic

To understand how transfer partners work and maximize redemption value, check our complete guide to hotel points.

Three Tiers for Different NeedsThe $0, $95, and $495 options let you choose your involvement level.

Legitimate Concerns

Complexity Increased DramaticallyThe old Bilt card was simple: use it 5 times monthly, earn 1x on rent automatically. The new Bilt Cash system requires constant calculation and strategy.

Exclusions Keep ExpandingIn just the first week after launch, cardholders discovered more excluded merchants than anticipated. Will grocery wholesalers be next? Insurance payments?

Better Alternatives for Many CategoriesThe Chase Sapphire Preferred, Capital One Venture X, and other premium travel cards often provide better value for the same spending without the complexity or exclusions. For a detailed comparison of top travel cards, see our guide to the best travel credit cards.

Program Sustainability QuestionsBilt's rapid changes and Wells Fargo's exit raise questions about long-term stability. Will the program exist in 2-3 years as we know it today?

Bilt Card 2.0 Decision Framework

Use this framework to determine if one of the new Bilt cards makes sense for you:

Get Bilt Card 2.0 If You:

âœ" Pay $1,000+ monthly in rent or mortgageâœ" Have significant non-excluded spending (dining, travel, groceries)âœ" Can earn enough Bilt Cash monthly to offset the 3% housing payment feeâœ" Value transfer partners like Hyatt and American Airlinesâœ" Want to build a long-term points balance for major redemptionsâœ" Don't heavily rely on tax payments or eBay for points earning

Skip Bilt Card 2.0 If You:

✗ Own your home outright (no rent or mortgage)✗ Most spending falls into excluded categories✗ You use tax payments as a primary minimum spend strategy
✗ eBay or other marketplaces represent significant monthly spending✗ You prefer simplicity over optimization✗ The Bilt Cash earning requirement seems too complex

Which Tier Should You Choose?

$0 Bilt World Elite: Best for cautious beginners who want to test the program$95 Bilt Obsidian: Best for heavy dining or grocery spenders who value category bonuses$495 Bilt Palladium: Best for high spenders who can justify the fee through 2x on everything

What Happened to Wells Fargo Bilt Cardholders

If you held the original Wells Fargo-issued Bilt Mastercard, here's what occurred:

The Deadline

Existing cardholders had until January 30, 2026 to select one of the three new Bilt Card 2.0 options. Those who chose by this date:

• Kept the same card number
• Had digital wallets (Apple Pay, Google Pay) auto-update
• Received new physical cards by February 6, 2026
• Could transfer balances from Wells Fargo account
• Underwent only a soft credit pull (no impact on credit score)

What Happened February 7, 2026

On this date, all Wells Fargo Bilt Mastercards were deactivated permanently. Cardholders who didn't choose a Bilt 2.0 card had their accounts automatically converted to Wells Fargo Autograph Visa cards with new card numbers.

The Autograph Visa is a solid no-annual-fee card earning Wells Fargo Rewards points (not Bilt points), but it doesn't offer rent rewards or Bilt's transfer partners.

Impact on Credit Reports

Contrary to initial concerns, the transition from Wells Fargo Bilt to Cardless Bilt does create a new account on your credit report. This means:

• It adds to your 5/24 count with Chase (learn more about Chase's 5/24 rule)
• Shows as a new account (though keeps your spending history)
• May temporarily lower your average account age
• Could impact upcoming card applications

Common Questions About Bilt 2.0 Exclusions

Will property tax payments earn rewards?

No. The terms exclude "tax payments" without distinguishing between income taxes and property taxes. Early cardholder reports confirm property tax payments through county portals don't earn rewards or Bilt Cash.

What about PayPal purchases from regular merchants?

This remains unclear. The terms exclude "third-party payment accounts," but if you're buying from a traditional retailer that processes through PayPal, some reports suggest it earns normally. The safest bet: assume it won't earn and be pleasantly surprised if it does.

Can I still use Bilt for Venmo transactions?

Bilt recently announced a Venmo partnership, but person-to-person Venmo payments don't earn rewards. Future merchant transactions through Venmo may earn depending on how the partnership develops.

Does Plastiq rent payment earn Bilt Cash?

No. If you use Plastiq to pay rent with your Bilt card (paying Plastiq's 2.5% fee), this likely falls under excluded "third-party payment accounts." You'd pay the fee without earning rewards.

What if I accidentally use my Bilt card at an excluded merchant?

The transaction will process normally—you just won't earn Bilt Points or Bilt Cash. There are no penalties. Consider it the same as using a credit card that doesn't offer rewards.

Will Bilt add more exclusions later?

Based on the rushed changes and ongoing "clarifications" appearing in the first week after launch, additional exclusions seem likely. Monitor the official Bilt terms periodically.

The Bigger Picture: What Bilt 2.0 Means for Rent Rewards

The transformation from simple Wells Fargo card to complex three-tier Cardless portfolio represents a fundamental shift in Bilt's business model.

The Old Model (2022-2026)

• Make 5 purchases monthly
• Earn 1x point per dollar on rent automatically
• Wells Fargo absorbed the costs
• Unsustainable for the issuing bank

The New Model (2026+)

• Earn Bilt Cash through everyday spending
• Apply Bilt Cash to unlock rent/mortgage rewards
• Pay 3% fee or have enough Bilt Cash accumulated
• More profitable for Cardless and Column Bank

The merchant exclusions support this new model by preventing "gaming" strategies that generate rewards without profitable merchant transactions for the issuer.

What It Means for You

Bilt is no longer a "free money" card where minimal effort yields substantial rent rewards. It's now a sophisticated points ecosystem requiring active management, spending optimization, and acceptance that some purchase categories won't earn anything.

For engaged points enthusiasts, this can still work brilliantly. For casual users who wanted simple rent rewards, the value proposition weakened considerably.

The Bottom Line

Bilt Card 2.0's merchant exclusions—especially tax payments and online marketplaces—represent significant restrictions that fundamentally change how the program works.

For the right person, the new Bilt cards still offer unique value:

• No-fee rent rewards (when you've earned sufficient Bilt Cash)
• Industry-leading transfer partners
• Expanded mortgage payment earning
• Three tiers to match different spending patterns

But these benefits now come with meaningful caveats:

• Excluded merchant categories impact everyday spending
• Bilt Cash requirement adds complexity
• Alternative cards like the Chase Sapphire Preferred or Capital One Venture X often earn more on specific purchases
• Long-term program stability remains uncertain

The best approach? Get one of the new Bilt cards if rent or mortgage payments represent your largest monthly expense and you spend heavily in non-excluded categories. Use complementary cards for tax payments, eBay purchases, and other excluded transactions.

For help building a comprehensive credit card strategy, see our guide to the best overall credit cards.

Bilt is no longer a one-size-fits-all solution for renters—it's become a specialized tool in a broader points and miles strategy.

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