#3 Among Transferable Points
Point Value
1.7 ¢
Program Score
8.5
No longer a slam dunk for renters, but Bilt’s strong transfer partners make the program worth watching
When Bilt launched in 2021, the pitch was simple: earn credit card points on rent without paying a fee. While you can still earn points on housing payments, it's no longer that simple to do so.
In early 2026, Bilt overhauled the system and introduced a new lineup of cards. You can now earn points on both rent and mortgage payments, but you must put everyday spend on the card to maximize those earnings. The more you spend, the more you can earn on your housing payments.
Only one of the three cards includes a traditional points welcome offer, so big sign-up bonuses aren't the primary draw. The best way to earn Bilt points is through everyday spending combined with housing payments made through Bilt.
With Bilt 2.0, all three Bilt cards let you pay eligible rent or mortgage payments through Bilt without a transaction fee. How many points you earn on those payments depends on which of two rewards options you choose.
The key difference:
Here's how it works:
Example
You will also earn Bilt points on the non-housing purchases themselves. How much depends on which Bilt card you hold, since each has different earning rates.
If you use the housing-only reward option and don't reach the 25% spend threshold, you will earn a flat 250 points on the housing payment rather than zero.
Here's how it works:
Example
In the example above, you would also earn Bilt points on the $750 in everyday spending. How much depends on which card you hold.
You also receive Bilt Cash as part of the welcome offer on all three cards, and unused Bilt Cash can be saved for future housing payments or redeemed in other ways. Keep in mind that Bilt Cash expires at the end of each calendar year, with only up to $100 carrying over into the next year.
Bilt Rewards doesn't allow members to transfer points directly to another person's Bilt Rewards account. However, you may be able to transfer points to a spouse's airline or hotel loyalty account if the transfer partner allows transfers to another person's loyalty account.
While Bilt doesn't allow point transfers between members, some Bilt credit cards let the primary cardholder choose whether an authorized user's purchases earn rewards for the primary cardholder or the authorized user.
Special Offers Related to Bilt Rewards. Click the arrow to see more.
World of Hyatt is offering a 20% discount when purchasing 3,000 or more points through December 21, 2026, bringing the cost down to 2.08 cents per point. This isn't an unusually generous sale, but it can make sense for certain redemptions. If you have a Chase Sapphire Reserve, Sapphire Reserve Business, or Bilt Rewards points (through December 31, 2026), transferring those points to Hyatt at 1:1 will generally be the better option. However, if you don't have access to those transfers or prefer to preserve those transferable points, buying Hyatt points could be worthwhile but only if you have a specific redemption in mind AND you're getting more than 2.1 cents per point in value. For example, a hotel costing $500 per night or 20,000 Hyatt points would cost just $416 if you purchased the points during this sale, saving $84 compared to paying cash. Award stays also waive resort fees, which can make the savings even greater. We don't recommend buying points speculatively, but if you've already found award availability and done the math, this could be a useful opportunity. You can purchase Hyatt points here.
Bilt Rewards has added another transfer partner to its repertoire. JetBlue TrueBlue is the newest addition, allowing members to transfer Bilt points at a 1:1 ratio. This gives Bilt members another airfare redemption option and makes TrueBlue a transfer partner of seven rewards currencies. You can already transfer points to JetBlue from Chase Ultimate Rewards, Citi ThankYou Rewards, Wells Fargo Rewards, American Express Membership Rewards, Capital One Miles, and Rove Miles. The 1:1 ratio matches all other partners other than American Express, which transfers at 2.5:2, and Capital One, which transfers at 5:3. Bilt has frequently offered transfer bonuses to newly added partners during its monthly Rent Day promotions, so we could see a JetBlue bonus in the future.
Rakuten is offering up to $100 cash back or 10,000 Bilt points when applying for select Chase credit cards through its shopping portal, including the Chase Freedom Unlimited, Ink Business Unlimited, and Ink Business Cash. The bonus stacks with eligible Chase welcome offers (currently $200 for the Freedom Unlimited and 75,000 points for both Ink cards), providing additional value when opening a new card. If your Rakuten account is set to earn Bilt points, you can receive up to 10,000 Bilt points with Bilt Silver status or higher, or 5,000 points with Bilt Blue status. Members earning Amex Membership Rewards through Rakuten are not eligible for these offers, so you won't even see them when logged in to Rakuten. Keep in mind that the Rakuten bonus is limited to one per member account, requires keeping the new card open for at least three months, and may vary depending on your existing Chase relationship. If you're in two-player mode, a Chase referral bonus may offer better value, so compare your options before applying.
Rakuten is offering its best referral bonus we've ever seen through December 31, 2026. When you refer someone new to Rakuten and they spend at least $50 through the portal within 90 days, both of you can earn $50, 5,000 Amex Membership Rewards points, or 5,000 Bilt points, depending on your Rakuten earning preference. New Rakuten accounts default to cash back, but you can switch to Membership Rewards or Bilt points. One important thing to be aware of regarding Bilt is that the full 5,000 Bilt-point bonus is only available if you have Bilt elite status. Base-level members transfer at a 2:1 ratio, so the same $50 bonus would become 2,500 Bilt points instead. The referral offer is available through December 31, although Rakuten can modify or end it early.
Transferring points to Bilt's airline and hotel partners is usually the best way to maximize the value of your points. Bilt's transfer partner lineup is among the strongest in the hobby, with World of Hyatt and Atmos leading the way.
Unfortunately, the transfer ratio from Bilt to Hyatt is being reduced from 1:1 to 4:3 starting on January 1, 2027, so you'll receive 25% fewer World of Hyatt points for the same number of Bilt points. That means a Hyatt award night costing 15,000 points will require 20,000 Bilt points instead of 15,000.
Bilt also has a travel portal that can offer decent redemptions, but not nearly the same value as transferring to partners.
Bilt introduced Bilt Cash as part of Bilt 2.0. While there are several ways to redeem Bilt Cash, we generally think the best value comes from applying it toward housing costs or using it to unlock additional points through the Points Accelerator.
We'll cover the other redemption options below.
You can book travel through the Bilt Travel Portal at a value of 1.25 cents per point. It’s not the best redemption, but it’s not bad either. This wouldn’t be our first choice because Bilt’s transfer partners can offer better value, but booking travel that isn’t possible with transferable points, like rental cars or cruises, can be a good use of points when you’d rather not pay cash.
Bilt Cash was introduced with Bilt 2.0 and is separate from Bilt Points. Unlike points, Bilt Cash cannot be transferred to airline or hotel partners and can only be redeemed within the Bilt ecosystem.
You can earn Bilt Cash in several ways. Each Bilt card includes a set amount as part of its welcome offer with no spending required. If you choose the Bilt Cash option for housing rewards, you'll also earn 4% back in Bilt Cash on non-housing purchases. In addition, you earn $50 in Bilt Cash for every 25,000 Bilt points earned.
One of the best uses of Bilt Cash is unlocking points on rent or mortgage payments. Every $30 in Bilt Cash lets you earn 1,000 Bilt Points on housing, up to a maximum of 1x points on your monthly payment.
Example
Bilt has marketed Bilt Cash as delivering dollar-for-dollar value, but many of the redemption options come with restrictions that make that value harder to maximize. Some work more like credit card coupon-book benefits, except you must first earn the Bilt Cash through spending or a welcome offer before you can use them.
There is also an expiration rule to keep in mind: only $100 in Bilt Cash can carry over from one calendar year to the next. Anything above that amount expires at year-end, so there is little reason to hoard a large balance.
Our favorite ways to use Bilt Cash
If you have extra Bilt Cash from a welcome offer or from choosing the Bilt Cash option for housing rewards, these are the redemptions we think offer the most value. Some options require an annual-fee card or Bilt status, which we’ll note where applicable.
Other ways to use Bilt Cash
Bilt offers many other redemption options, but most are more restrictive and require additional effort to use. You may find value in some of them, but we would not use these benefits alone to justify the annual fee on the Obsidian or Palladium cards. Consider them alongside the card’s other benefits when deciding whether either card is worth keeping long term.
Travel & Transportation
Dining & Food Delivery
Entertainment & Lifestyle
Airport & Lounge Benefits
You can use Bilt points toward a down payment on a home purchase at a 1.5 cent per point rate. This can only be done in the United States and only once per home purchase. It wouldn’t be our first choice, but it’s a unique option worth mentioning.
These redemptions offer poor value compared with transferring Bilt points to airline or hotel partners, so we don’t recommend using your points this way.
Discover your points' highest-value redemption options. Use the filters to find the optimal sweet spot for your next trip.
Bilt’s best transfer bonuses usually show up on Rent Day, the first day of each month, and are only available that day. Only move points if the partner and award pricing already make sense and you've confirmed award space.
Bilt status affects Rent Day transfer bonuses and Rakuten earning rates, so your tier can change how valuable the program is. Know your tier and what it takes to reach the next one before chasing a bonus or choosing Bilt points through Rakuten.
Bilt shares several partners with other transferable points programs, so save Bilt points for unique partners when another currency can book the same award.
Like all transferable points systems, Bilt points are most valuable when transferred to travel partners. Redeeming for rent, fitness classes, shopping, or other non-travel options will often deliver weaker value.
Bilt is one of the most unique transferable points ecosystems in the hobby. You can earn points on rent and mortgage payments, but the program now rewards cardholders who also put everyday spending on their Bilt card. Unlike most transferable points ecosystems, Bilt relies on ongoing spending rather than welcome offers to build a meaningful balance of points.
The earning rates are strong, making these cards worth holding, especially when you're between welcome offers on other cards. While expert hobbyists will be able to extract the most value out of Bilt, especially with its top card, the Palladium, beginners can also earn a meaningful number of points by consolidating their spending onto a Bilt card.
Any Bilt Points you do earn can be transferred to one of the strongest partner networks in the hobby, though that is taking a hit on January 1, 2027 when Bilt to Hyatt transfers drop from 1:1 to 4:3. But Bilt does reward users who can plug the system into their broader points strategy. Whether you’re deep into the hobby and regularly opening new cards, or someone who prefers the simplicity of sticking to one program, Bilt can deliver. The Palladium and Obsidian offer real potential to earn a high volume of points annually, as long as the math works out for your housing payments and overall spending budget.
Most transferable points programs don’t offer elite status, but Bilt is an exception. Its system includes four status tiers.
Everyone starts at Blue just by signing up. To move up, you’ll need to:
Status is valid for the year it is earned and the entire following year.
One unique perk of all status levels is that you earn interest on all points based on the previous 30-day period, so you're encouraged to keep your points in the Bilt ecosystem until you have a specific transfer and redemption in mind. The amount is based on the FDIC published national savings rate.
Here are the three other levels, requirements you’ll need to get to each level, and the benefits of each
Unlike most transferable points systems, you will keep your Bilt points if you cancel your Bilt credit card, as your Bilt Rewards account remains active. However, you will no longer earn points on housing payments and will lose any card-specific benefits. For that reason, it may be worth downgrading to the no-annual-fee Bilt Blue card to preserve the option to earn points on housing in the future.
Yes. You can now use Bilt to pay your mortgage. You can earn points on that mortgage payment by using Bilt Cash or spending a certain percentage of your housing on non-housing spend. $30 in Bilt Cash earns 1,000 points, so if your housing is $1000/month, you'll need $30 in Bilt Cash to earn 1,000 points.
Bilt compares well with Chase thanks to partners like Hyatt and Atmos, but that advantage will shrink in 2027 when Bilt’s Hyatt transfer ratio drops to 4:3. That matches the ratio on Chase’s lower-tier cards, while the personal and business Chase Sapphire Reserve cards will still transfer to Hyatt at 1:1. Both Reserve cards have a $795 annual fee.
The best way to use Bilt points is to transfer them to one of Bilt’s partners and redeem for travel. High-value options include Alaska Airlines, Flying Blue, Southwest Airlines, United Airlines, and World of Hyatt, all with great sweet-spot redemptions.
You can, but we don’t recommend it. Cashing out Bilt points for a statement credit gives you only 0.55 cents per point, which is a poor rate. You can easily get triple that value, often more, by transferring to one of Bilt’s travel partners.
Tracking Points & Transfer Options
