Bilt has announced an extension for existing cardholders regarding the transition to its new Bilt 2.0 cards. The new deadline is now set for February 1, allowing cardholders additional time to select from a trio of upgraded options. Previously slated for January 30, this new cutoff offers customers a final chance to make a seamless move from their current Bilt Mastercard® to one of the new offerings.
At its core, Bilt is not just a credit card issuer but also a lifestyle loyalty program designed to reward everyday activities, from consuming at local restaurants to traveling far and wide. The transition process is user-friendly; cardholders can switch to one of the new Bilt 2.0 cards without a hard inquiry on their credit report, and they can maintain their existing card number. Additionally, both Apple Pay and Google Pay will automatically update with the new card details. Cardholders will also have the option to transfer their existing balance to the new card when they make the switch.
To begin the transition, cardholders can visit the Bilt website or use the Bilt app. However, if no action is taken by the deadline, the current Bilt Mastercard will be automatically converted to the Wells Fargo Autograph® Card. While the Autograph card carries no annual fee, it will not award a welcome bonus for those switching from Bilt. Alternatively, customers can choose to close their Bilt/Wells Fargo account altogether, while still retaining access to their existing points and participation in the Bilt Rewards program.
The Bilt 2.0 portfolio includes three new cards, each with unique structures for earning points on rent or mortgage payments. The cards cater to various spending habits, offering options for either cash back or a tiered earning system. Fortunately, because the full activation of these cards will not occur until February 7, cardholders have additional time to determine their preferred strategies for earning rewards.
In terms of value, the Bilt Rewards Points are currently valued at approximately 2.2 cents per point, placing them above many other loyalty programs. Cardholders can accumulate points through various spending patterns, such as earning two points per dollar on everyday purchases with the Palladium card, three points per dollar on groceries with the Obsidian card (with a cap of $25,000 in annual spending), or one point per dollar with the Blue card. These points can be transferred to a notable list of airline and hotel partners, including Alaska Airlines and Hyatt.
For those considering their Wells Fargo account, it remains possible to keep it open and receive the Wells Fargo Autograph Card, which comes without the hassle of a credit inquiry. While this move would not provide a welcome offer, it does grant access to the Autograph card’s features, including partnerships with carriers such as British Airways and Virgin Atlantic for point transfers.
In summary, existing Bilt cardholders are urged to finalize their selections before February 1 to guarantee a smooth transition to the new Bilt 2.0 cards. Maintaining a Bilt card will ensure continued access to valuable rewards, whether or not cardholders have settled on a specific strategy for housing payments.
