Bilt, the rewards program best known for letting renters earn points on housing payments, is overhauling how its credit cards earn. From 2027, cardholders move onto a new rewards structure unless they actively opt to keep the current one — and that opt-in has real deadlines: new applicants must apply, be approved and accept their offer by December 31, 2026, while existing cardmembers need to explicitly choose to keep the old earning option before their first card anniversary in 2027. Do nothing, and you're automatically shifted to the new model.
The option worth fighting for, according to frequent flyer commentators, is Flexible Bilt Cash — an extra 4% back in Bilt Cash on everyday spending, on top of the card's regular points. On the premium Bilt Palladium card ($495 annual fee), keeping the current structure means 2 points per dollar on everyday purchases, a 50,000-point welcome bonus plus Gold status after $4,000 spend in 90 days, $200 in annual Bilt Cash, $400 in annual hotel credits, and a Priority Pass membership.
Why does 4% Bilt Cash matter to travellers? Because it supercharges Bilt's points accelerators: spend $200 in Bilt Cash to activate one and you earn an extra point per dollar on your next $5,000 of spending — five activations allowed per year, and the spending regenerates the cash to fund the next one. Bilt Cash itself is also spendable on things like BLADE helicopter flights, Blacklane chauffeurs, monthly Lyft and Grubhub credits, and hotel discounts that can be stacked with the card's own credits.
Bilt points transfer to a wide lineup of airline and hotel programs — United, Air Canada Aeroplan, Turkish Airlines, British Airways, Air France KLM Flying Blue, Cathay Pacific, Emirates, Hyatt, Marriott, Hilton and many more, mostly at 1:1 — with regular Rent Day transfer bonuses. That combination of fast earning and outsized bonuses is why several well-known miles-and-points writers say they're renewing the card, with one calling it a 'no-brainer' daily driver.
The new structure isn't bad, just different: the $400 hotel credit and $200 Bilt Cash collapse into a single $600 annual Bilt Cash deposit, accelerators survive, and Bilt Cash now lasts 12 months from earning rather than being largely wiped out at year-end. The main alternative earning choice — up to 1.25 points per dollar on housing payments instead of 4% cash — can even beat the cash option if your housing payments are large relative to your card spending. But for heavy spenders, most commentators prefer keeping 4%.
The practical takeaway: this is a decision you have to make deliberately, not one you can revisit later — once the new structure takes effect, there's no switching back. Existing members can lock in Flexible Bilt Cash now through the Bilt app's card rewards settings, and preserving the old option doesn't prevent moving to the new one later. Three Bilt cards qualify: Palladium, the premium Obsidian, and the no-annual-fee Blue. If you've been considering Bilt mainly for its airline and hotel transfer partners, applying before the end of 2026 is the way to keep every option open.
