Key Points

• Bilt is launching three new credit cards on February 7, 2026, with annual fees of $0, $95, and $495.
• All three cards will allow earning points on both rent and mortgage payments for the first time.
• Bilt is ending its Wells Fargo partnership and moving to the Cardless platform for the new lineup.

Introduction

The Bilt Mastercard is getting a complete makeover. On February 7, 2026, Bilt Rewards will launch what it's calling "Bilt Card 2.0," introducing three new credit cards to replace the current single no-annual-fee option. For the first time, Bilt cardholders will be able to earn points on mortgage payments in addition to rent, potentially opening up the program to millions of homeowners.

As of November 5, 2025, Bilt stopped accepting new applications for the current card. Here's everything you need to know about the upcoming changes and how they'll affect existing cardholders.

What's Changing with Bilt Card 2.0

Bilt is replacing its single-card offering with a three-tier system designed to appeal to different spending levels and needs. The new lineup will include cards with $0, $95, and $495 annual fees, though specific earning rates and benefits haven't been announced yet.

The most significant change goes beyond the card structure. Bilt is ending its relationship with Wells Fargo, which has issued the card since launch, and partnering with Cardless, a digital card platform that powers several niche credit card programs.

Timeline for the Transition

Here's what existing cardholders and interested applicants can expect:

Now through January 2026: Bilt plans to release detailed information about the three new cards in early January. This will include earning rates, benefits, and annual fee structures.

January 2026: Existing Bilt cardholders will be able to select which of the three new cards they want. Bilt will conduct a soft credit pull (which doesn't impact your credit score) to determine approval for your chosen card.

February 7, 2026: The official launch date for Bilt Card 2.0. Approved cardholders should receive their new cards by this date and can transfer balances from their old Wells Fargo card to the new Cardless-issued card, subject to approval.

February 6, 2026: The last day to use the current Bilt Mastercard.

Mortgage Payments: The Biggest New Feature

The expansion to mortgage payments represents a fundamental shift in Bilt's target audience. The company built its reputation by allowing renters to earn points on rent payments without transaction fees, but this change opens the door to the much larger homeowner market.

Bilt says cardholders will be able to earn on "eligible mortgage payments" regardless of their lender. The word "eligible" suggests there may be some restrictions, though details haven't been released. It's also unclear how many points you'll earn on mortgage payments or whether there will be earning caps similar to the current 100,000-point annual limit on rent payments.

This isn't Bilt's first move into the mortgage space. The company previously announced a partnership with United Wholesale Mortgage, the country's largest mortgage lender, allowing Bilt members to earn points for on-time mortgage payments. The February 2026 expansion will presumably work differently, as it's tied specifically to using the new Bilt credit cards rather than simply being a United Wholesale Mortgage customer.

What Happens to Current Bilt Cardholders

If you have the current Bilt Mastercard, you can continue using it through February 6, 2026. After that, you have three options:

Option 1: Upgrade to a Bilt Card 2.0 product. This is the seamless path Bilt is emphasizing. Your card number should stay the same, meaning you won't need to update saved payment methods with merchants or subscription services. Digital wallets like Apple Pay and Google Pay should auto-update without any additional work on your part.

Option 2: Convert to a Wells Fargo Autograph Card. If none of the new Bilt cards fit your needs, you can convert your account to a Wells Fargo Autograph Card. This card earns 3x points on restaurants, travel, gas stations, EV charging, transit, streaming services, and phone plans. You'll receive a new card number with this option.

Option 3: Close your account. You can simply close your Wells Fargo Bilt card account if you don't want any of the available options.

How the Seamless Transition Will Work

Bilt is promising a smooth migration process, and the mechanics should make it relatively painless:

Your existing card number will transfer to your new Bilt Card 2.0, which means all your saved payment methods should continue working. Your subscription services won't be interrupted, and you won't need to update your card information with Amazon, Netflix, or any other merchants where you have the card on file.

The soft credit pull for the new card won't impact your credit score the way a hard inquiry would. This is good news for anyone concerned about the effect on their credit report.

You'll be able to transfer your balance from your old card to the new one, though this is subject to approval. If you're carrying a balance, check the terms of the new cards when they're announced in January to understand any differences in APR or balance transfer policies.

Comparing Your Options

While we don't yet know the specific benefits of each Bilt Card 2.0 tier, the three annual fee levels suggest different value propositions:

The $0 annual fee card will likely appeal to budget-conscious consumers who want to earn points on rent without ongoing costs. Earning rates may be lower than the premium tiers.

The $95 annual fee card positions itself in the mid-tier travel card market, competing with cards like the Chase Sapphire Preferred. Expect enhanced earning rates and some travel benefits, but you'll need to spend enough to justify the annual cost.

The $495 annual fee card enters premium territory alongside cards like the Chase Sapphire Reserve and Amex Platinum. At this price point, you should expect significant travel benefits, lounge access, or other perks that can offset the high annual fee.

If you're not ready to commit to an annual fee, consider these alternatives while you wait for the full Bilt Card 2.0 details:

For everyday cash back, the Wells Fargo Active Cash Card earns a flat 2% on all purchases with no annual fee. For travel rewards without an annual fee, the Capital One Venture offers solid earning rates and simple redemption options.

What We Still Don't Know

Several critical details remain unclear about Bilt Card 2.0:

Earning rates: How many points will you earn per dollar on different spending categories? Will the earning structure be significantly different from the current 3x dining, 2x travel, 1x other purchases format?

Mortgage payment details: What counts as an "eligible" mortgage payment? Will there be earning caps like the current 100,000-point annual limit on rent? Can you pay any mortgage lender, or are there restrictions?

Premium card benefits: What specific perks will the $95 and $495 cards offer? Travel credits? Lounge access? Elite status with Bilt transfer partners?

Transfer partners: Will the current lineup of transfer partners (including United, American, Air France/KLM, and others) remain the same? Will new partners be added?

Existing points: What happens to Bilt Points you've already earned? They should remain in your account, but it's worth confirming when more details are released.

Bilt has promised to release comprehensive information in early January 2026, so we'll update this article as soon as those details become available.

Is Bilt Card 2.0 Right for You?

The appeal of the new Bilt cards will depend heavily on the yet-to-be-announced earning rates and benefits. Here's how to think about whether to stick with Bilt or explore alternatives:

Consider Bilt Card 2.0 if: You're currently renting and happy with earning points on rent without fees. You're a homeowner interested in earning rewards on mortgage payments. You value Bilt's transfer partners and want to continue earning transferable points. You're willing to wait until January for full details before deciding.

Look at alternatives if: You don't rent or own and therefore can't take advantage of the program's signature benefit. You're not willing to pay an annual fee and the free card's earning rates end up being weak. You prefer cash back over transferable points. You want better clarity on benefits before the deadline.

Remember, you don't need to decide immediately. Existing cardholders can continue using their current card through early February and will have the full details from Bilt before needing to choose a path forward.

What About Wells Fargo Cards?

If you decide the new Bilt lineup isn't for you, Wells Fargo has several strong credit cards worth considering:

The Wells Fargo Autograph Card is a natural alternative, earning 3x points on a broad range of categories including dining, travel, and streaming. There's no annual fee, and points can be redeemed for travel, cash back, or gift cards.

For simple cash back, the Wells Fargo Active Cash Card offers a flat 2% on everything with no annual fee and no complicated categories to track.

Business owners might prefer the Wells Fargo Business Elite Signature Card, which offers cell phone protection and can earn significant rewards on business expenses.

The Bottom Line

Bilt Card 2.0 represents a significant evolution for a program that disrupted the credit card industry by making rent a rewards-earning expense. The expansion to mortgage payments and introduction of premium card tiers signals Bilt's ambition to become a comprehensive rewards program rather than a niche product for renters.

The transition should be relatively painless for existing cardholders who want to continue with Bilt. Your card number will stay the same, saving you the hassle of updating payment information across your various subscriptions and services.

However, the introduction of annual fees means you'll need to carefully evaluate whether the new cards offer enough value to justify the cost. Wait for the detailed announcement in January, run the numbers on your own spending, and choose the option that makes the most sense for your situation.

Whether you're a renter excited about the new options or a homeowner interested in earning points on mortgage payments, the Bilt Card 2.0 launch will be worth watching. We'll update this article with more information as Bilt releases additional details about the new card lineup.

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