Best in Class
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Bilt Obsidian Credit Card Review
Key Takeaways
The Bilt Obsidian Card is Bilt’s mid-tier option with a $99 annual fee that lets you earn unlimited points on both rent and mortgage payments. You earn $200 in Bilt Cash as a welcome bonus just for signing up, with no spending required. Using Bilt Cash is one of the ways to unlock points earning on your housing.
Why This Card Could Be Right For You
Earning $200 in Bilt Cash just for signing up is a strong offer that offsets the $95 annual fee in year one. You’ll also earn 4% back in Bilt Cash on all non-housing purchases. While Bilt Cash can be used in a few ways, its most valuable use is unlocking points on rent or mortgage payments. Every $30 in Bilt Cash unlocks 1x points on $1,000 in housing payments, so the $200 welcome offer lets you earn points on about $6,667 of rent or mortgage.
The hotel credit is underwhelming. It’s split into two $50 credits, requires a two-night minimum, and must be booked through the Bilt portal. If prices match those found directly, you’re effectively saving $50 on a two-night stay, twice per year.
Maximizing points efficiency
If you look at this card through the lens of unlocking points on your housing payment, the Obsidian can deliver an excellent return on your card spend. If you pay your housing through Bilt and spend 75% of that amount on non-housing purchases, you’ll unlock 1x points on rent.
- With a $2,000 housing payment and $1,500 in non-housing spend, you'll earn 3,500, 5,000, or 6,500 total points on the Obsidian card, depending on your bonus category
- That's an effective 2.33x, 3.33x, or 4.33x return on your actual card spend, which rival returns on many premium travel cards, making the $95 annual fee worth considering
The card also offers several bonus categories that help you rack up both Bilt Points (transferable to partners) and Bilt Cash (usable toward earning points on housing):
Bonus categories:
- Up to 1x on rent and mortgage
- 3x on your choice of dining or groceries (grocery cap: $25K/year)
- 2x on travel
- 1x on everyday spend
- 5x at Bilt Neighborhood Partner restaurants
- 3x at Bilt Neighborhood Partner fitness studios
- 3x on Lyft rides
- 2x at Walgreens
Included protections:
- Cellular Wireless Protection
- Purchase Assurance
- MasterRental Coverage
- Trip Cancellation & Interruption Protection
- Trip Delay Reimbursement
- Extended Warranty
When The Usual Advice Doesn't Apply
The exceptions where this card might not be good for you:
- You have been a Bilt user who valued the ability to earn points on rent with little effort, which is no longer the case
- You don't want to jump through so many hoops to earn points on your housing payments
- The hotel credit is not a very valuable perk
What to Know About Bilt Rewards
No longer a slam dunk for renters, but Bilt’s strong transfer partners make the program worth watching
- Bilt now has three credit cards, all with points transferable to partners that rival, or even outshine, Chase
- You can earn points for both rent and mortgage, but you'll have to put a significant amount of other monthly spend on the card to earn it
- Earning points on housing is more complex, and Bilt’s user base is shifting
- Bilt is now best used as a daily spend travel rewards card when not working on a new card welcome offer
- The program can still be highly rewarding, but you'll need a clear plan to maximize point earning
How The Bilt Obsidian Credit Card Fits In The Bilt Rewards Ecosystem
Bilt 2.0 now has three credit cards, each with their own highlights.
- $100 signup bonus paid in Bilt Cash (no spending requirement)
- 4% back in Bilt Cash on all non-housing spend
- Limited perks beyond a few spending multipliers
- No annual fee
- If you use Bilt to pay your housing then spend 75% of that amount on non-housing purchases, you can effectively earn 2.33x on that non-housing spend
Bilt Palladium (the strongest option for points and miles enthusiasts):
- $495 annual fee
- 4% back in Bilt Cash on all non-housing spend
- $300 Bilt Cash welcome bonus (no spending required)
- 50,000 Bilt points + Bilt Gold status after spending $4,000 on non-housing purchases in the first 3 months
- 2x points on everyday spend (excluding rent and mortgage)
- Elevated multipliers in select bonus categories
- $200 in Bilt Cash on your account anniversary (first year included)
- $400 in biannual hotel credits ($200 twice per year) for two-night bookings made through the Bilt portal
- If you use Bilt to pay your housing then spend 75% of that amount on non-housing purchases, you can effectively earn 3.33x on that non-housing spend
Card Information
Bonus Points
0
Minimum Spend
$0 / 3mo
Point Value
1.7 ¢
Annual Value
Annual Fee
$95
1st Year Value
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Differentiating Perks
Points for Paying Rent & Mortgage
Rules
Potential Boosts
$200 Bilt Cash
Card Extras
Extra
Worth/Fit
Est. Value
Total Annual Value
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No extras to display for this card.
Card Benefits
No benefits are available for this card.
Historical Card Offers
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Average Frequency
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Average Offer Length
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Estimated Next Offer
Start Date
Offer Length
Bonus
Minimum Spend
Spend Categories
5.1¢
Per Dollar
Spent
Spent
5.1¢
Per Dollar
Spent
Spent
3.4¢
Per Dollar
Spent
Spent
1.7¢
Per Dollar
Spent
Spent
Bilt Obsidian Application Rules
Chase applications will be declined if 5 new cards have been added to your personal credit report in the past 24 months.
Point Transfer Options
+11 Lower Value Transfers Show
Best for Series
Below is a snapshot of where this card performs best compared to the other cards in our database:
Rank
6th
Honorable Mention
Rank
6th
Honorable Mention
Rank
2nd
Honorable Mention
Ranking of Cards Offering Bilt Rewards
Downgrade Options
Bilt Blue
Bilt Rewards