Bilt, the rewards programme best known for letting people earn points on rent and mortgage payments, has laid out a batch of changes taking effect in 2027. If you hold one of its cards — the Blue, Obsidian or Palladium — the headline news is that the default earning structure is flipping.
Right now, cardholders can earn 4% back in Bilt Cash on everyday spending on top of regular points. From your next account anniversary, that option disappears as the default. Instead, everyone will automatically earn up to 1.25x Bilt Points on rent or mortgage payments, with the multiplier tiered by how much you spend on the card each month. On a $2,000 rent payment, you'd need to put at least $2,000 of everyday spend through the card to hit the full 1.25x; spending just 25% of your rent gets you a half-hearted 0.5x. The silver lining: existing members can opt out of the new setup in the app before their anniversary date and keep earning 4% Bilt Cash — they'll just lose the ability to switch between modes month to month. New cardholders can lock in the cash option until December 31, 2026.
Other cash tweaks are mostly welcome. Bilt Cash now expires 12 months after it's earned rather than at the end of the calendar year, fixing a long-standing irritation. The Palladium card's split annual credit ($200 cash plus a $400 hotel credit) becomes a cleaner $600 in Bilt Cash, while the Obsidian's $100 hotel credit converts to $100 cash. Points earning rates and the Cash-for-Points Accelerator option stay untouched.
The clear loser is hotel redemptions. Previously members could put up to $1,200 a year in Bilt Cash towards portal hotel bookings, with monthly caps of $50-$100 depending on tier. From 2027, redemptions drop to twice a year: $50 per use for Blue and Silver ($100 total), $100 for Gold and Platinum ($200 total), and $200 for Palladium ($400 total). That's a steep cut, and it hints the perk wasn't paying for itself even with booking commissions factored in.
There are a few sweeteners. Elite members get the ability to redeem points at check-out on select hotel bookings (with luxury hotel perks), plus rental car status matches — Platinum members to SIXT ONE Platinum and Hertz President's Circle, Gold and Silver to SIXT ONE Gold and Hertz Five Star. Card upgrades can now be processed in the app, and from January 15, 2027 a new Daily Rewards game will dish out prizes for on-time rent payments, ranging from points and cash up to a $1 million home down payment or a year of free rent.
Overall, the core value proposition survives — and anyone who liked the cards before will likely still like them. But frequent chopping and changing so soon after the early-2026 overhaul is wearing thin for members, and the shrinking hotel redemption caps suggest Bilt Cash is becoming a secondary currency the company wants to keep cheap. If you value the 4% cash rate, set a reminder to opt out before your anniversary date.
