Bilt Obsidian Credit Card Review
Key Takeaways
The Bilt Obsidian Card is Bilt’s mid-tier option with a $95 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. Bilt Cash can be used to unlock points on housing and for other redemptions within the Bilt ecosystem.
Why This Card Could Be Right For You
Earning $200 in Bilt Cash just for signing up can help offset the $95 annual fee in year one. Through 2026, you can also choose to earn 4% back in Bilt Cash on non-housing purchases. While Bilt Cash can be used in several ways, one of its most valuable uses 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 current 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.
Beginning with card anniversaries in 2027, cardholders who move to Bilt's new rewards structure will receive $100 in annual Bilt Cash instead. Eligible cardholders who opt out before their anniversary can keep the current hotel-credit structure.
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 rivals returns on many premium travel cards and makes the $95 annual fee worth considering.
- If you redeem Bilt Cash to activate a Points Accelerator, you can earn an additional 1x on up to $5,000 in non-housing spending. You can activate up to five accelerators per year.
The card also offers several bonus categories that help you rack up Bilt Points, plus Bilt Cash when using the Flexible Bilt Cash structure:
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 were a Bilt user who valued earning points on rent with very little effort, which is no longer possible.
- You don't want to put significant everyday spend on the card or deal with a more complicated earning structure to maximize housing rewards.
- You don't get much value from the current hotel credit or other card benefits.
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 has three credit cards, all with points transferable to one of the best collection of partners in the hobby, though transfers to Hyatt decrease to 4:3 starting on January 1, 2027
- You can earn points on both rent and mortgage payments, but you’ll have to put a significant amount of other monthly spend on the card to maximize those earnings
- Beginning in 2027, new cardholders will use Bilt’s housing-based earning structure. Anyone who has a Bilt card or opens one by December 31, 2026 can keep the 4% Bilt Cash option by opting out of the new structure before their card anniversary
- The program can still be highly rewarding for those who like to consolidate their spend to one card, 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 has three credit cards, each with a different mix of fees, earning rates, and benefits.
- $100 in Bilt Cash as a welcome offer with no spending required
- No annual fee
- Several bonus categories for earning additional Bilt points
- Through 2026, you can choose to earn 4% back in Bilt Cash on non-housing purchases
- If you use Bilt to pay housing and spend 75% of that amount on non-housing purchases, you can effectively earn 2.33x on that non-housing spend
- $495 annual fee
- $300 in Bilt Cash as part of the welcome offer with no spending required
- 50,000 Bilt points and Bilt Gold status after spending $4,000 on non-housing purchases in the first 3 months
- 2x points on everyday non-housing spend
- Elevated earning rates with select Bilt Neighborhood partners
- Through 2026, you can choose to earn 4% back in Bilt Cash on non-housing purchases
- $200 in additional Bilt Cash under the current annual benefit structure
- $400 in annual hotel credits, split into two $200 credits with a two-night minimum for each
- If you use Bilt to pay housing and spend 75% of that amount on non-housing purchases, you can effectively earn 3.33x on that non-housing spend
All three Bilt cards currently let you choose between two ways to earn points on rent and mortgage payments:
- Option 1: Earn points on housing based on how much you spend on non-housing purchases, with a sliding scale of up to 1.25x points per dollar.
- Option 2: Earn 4% back in Bilt Cash on non-housing purchases and redeem that Bilt Cash to unlock points on housing. Every $30 in Bilt Cash unlocks 1x points on up to $1,000 in rent or mortgage payments, with a maximum earning rate of 1x.
Beginning in 2027, the first option becomes the standard structure for new cardholders. Anyone who has a Bilt card or opens one by December 31, 2026 can keep the 4% Bilt Cash option by opting out of the new structure before their card anniversary.
Card Information
Bonus Extra
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Rules
Card Extras
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Historical Card Offers
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Estimated Next Offer
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.
Best for Series
Below is a snapshot of where this card performs best compared to the other cards in our database:
