Are they better than the original — and can you still earn points on rent?

Bilt has recently made a transition from Wells Fargo to Cardless and Column N.A. Bank, introducing its Bilt Card 2.0 setup. This new setup features three new Bilt credit cards: the Bilt Blue Card, Bilt Obsidian Card, and Bilt Palladium Card. Each card comes with different annual fees ranging from $0 to $495. One key feature of these cards is the ability to make fee-free rent and mortgage payments, although the process is more complex compared to the previous Bilt Card 1.0.

Previously, Bilt partnered with Wells Fargo, but now Cardless will be the new card servicer, with cards issued by Column N.A. Bank. The three new cards in the Bilt 2.0 lineup include the no-annual-fee Bilt Blue Card, the $95-annual-fee Bilt Obsidian Card, and the $495-annual-fee Bilt Palladium Card. With the Bilt 2.0 setup, users must earn Bilt Cash through everyday spending to offset transaction fees for rent and mortgage payments.

All three Bilt 2.0 cards earn 4% Bilt Cash on eligible purchases and offer up to 1x points on rent and mortgage payments. Additionally, each card has its own spending categories. It’s important to note that Bilt Cash and Bilt points are not the same, as they offer different values and benefits within the Bilt ecosystem.

One notable feature of the Bilt 2.0 cards is the inclusion of cell phone insurance, which provides coverage for stolen or damaged phones. To qualify for this coverage, users must pay their monthly cell phone bill with the applicable Bilt card. The cards also offer a Bilt Travel hotel credit benefit, which is divided into two semi-annual credits that can be used for qualified hotel bookings.

While the new Bilt 2.0 cards offer unique benefits and rewards, they may not be suitable for everyone. Users must weigh the benefits of earning Bilt Cash against the transaction fees for rent and mortgage payments. Additionally, the annual fees associated with each card should be considered in comparison to other rewards credit cards in the market.

Overall, the Bilt 2.0 cards cater to individuals who plan to use them for everyday spending and wish to earn rewards on rent or mortgage payments. However, the complex nature of earning and redeeming Bilt Cash may deter some users from fully utilizing the cards’ benefits. It’s essential to carefully evaluate your spending habits and rewards strategy to determine if the Bilt 2.0 cards align with your financial goals.

In conclusion, the Bilt 2.0 cards offer a unique approach to earning rewards and making fee-free rent and mortgage payments. While they provide valuable benefits such as cell phone insurance and Bilt Cash rewards, users must carefully consider the associated fees and spending requirements before choosing a card that best suits their needs.