Bilt Rewards is poised to introduce three new credit card options, enhancing its offerings with features that enable users to earn points on mortgage payments. The anticipated cards include the Bilt Blue Card, which has no annual fee, the Bilt Obsidian Card with a $95 annual fee, and the Bilt Palladium Card priced at $495.
The upcoming cards are expected to provide various reward opportunities, combining the capability to earn both Bilt Points and Bilt Cash on purchases outside the housing sector, as well as introducing welcome bonuses, a first for the company. This marks a significant shift for Bilt, which has previously focused primarily on rental rewards.
Among the new offerings, the Bilt Palladium Card stands out due to its competitive terms and potential earning structure. Featuring an attractive rewards program, it could redefine premium card expectations, especially with an earning potential of 2 points per dollar spent on most purchases and a notable 4% in Bilt Cash on all non-housing expenses. This could yield up to 8.4% back on every dollar spent, making it a formidable contender in the market by comparison to other premium cards such as the American Express Platinum Card and Chase Sapphire Reserve, which have more limited earning categories.
In addition to earning rewards on everyday spending, the Bilt Palladium Card will allow users to earn 1 point per dollar on rent and mortgage payments, albeit with a fee. Rumored to allow users to use Bilt Cash to cover transaction fees, this feature could alleviate some costs associated with paying rent or mortgage via the card. For instance, a typical $2,000 monthly mortgage payment could incur a 3% fee, amounting to $60, but new cardholders may receive substantial bonuses that could offset this initial expense.
Additional benefits for the Bilt Palladium Card may include a $400 Bilt Travel hotel credit (split into two $200 credits every six months), an annual allotment of $200 in Bilt Cash, and a Priority Pass membership, all with no foreign transaction fees. If utilized effectively, these benefits could offset the annual fee of the card, making it more economical for frequent travelers and regular spenders.
The value of Bilt points remains high, bolstered by an impressive list of transfer partners, including major airlines and hotel loyalty programs. The inclusion of Gold status within the welcome package may further enhance the appeal of the Bilt Palladium Card, offering transfer bonuses and exclusive perks that could significantly increase the value derived from using Bilt Rewards.
As interest grows surrounding the launch of these new cards, many are eagerly anticipating the final confirmation and details regarding their features. With this new suite of options, Bilt aims to capture a broader market of consumers looking for meaningful rewards beyond typical credit card offerings. Further updates will follow once official details become available, allowing potential cardholders to consider their options more clearly.
