#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 still earn points on rent, and now mortgage, but you must put everyday spend on the card to earn them. The more you spend, the more you earn on your housing payments.
Only one of the three cards includes a traditional welcome offer, so big sign-up bonuses aren’t the 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 rent or mortgage via bank transfer, fee-free. But unlike Bilt 1.0, these payments no longer earn points by default. And since it's now a bank transfer, housing payments are longer a credit card charge.
To earn points on rent or mortgage, you have two options.
Here’s how it works:
Example
Note that you will also earn points on the non-housing spend. How much depends on which card you hold, as they all have different earning rates.
Here’s how it works:
Example
Note that you will also earn points on that $750 in spending. How much depends on which card you hold, as they all have different earning rates.
Special Offers Related to Bilt Rewards. Click the arrow to see more.
Bilt’s July 2026 Rent Day promotion includes a transfer bonus to Hilton Honors. Platinum members receive a 175% bonus, Gold 150%, Silver 100%, and Blue 75%, with the option to boost the bonus by an additional 25% by redeeming $150 in Bilt Cash. Platinum members can receive up to a 200% bonus. Transfers are capped at 100,000 points for earning the bonus, and the offer is valid only on July 1, 2026.
Bilt has added Preferred Hotels & Resorts' iPrefer program as a new transfer partner. Points transfer at a 1:2 ratio, matching Capital One and Citi, the only other transferable currencies that partner with iPrefer. More hotel transfer partners are generally a positive development, giving Bilt members additional redemption options. The timing is also interesting, as Bilt has frequently featured newly added partners in future Rent Day transfer bonuses. We wouldn't be surprised to see iPrefer receive that treatment, especially after Citi recently devalued its iPrefer transfer ratio from 1:4 to 1:2.
Update: Rakuten has once again increased bonuses on select Bank of America cards, with the Travel Rewards card now offering an additional $275 and the Customized Cash card offering an additional $175. These offers frequently change and often only last a few days.
Rakuten is offering an additional $275 for applying for the Bank of America Travel Rewards card or $175 for the Customized Cash card, stacking with each card’s standard welcome offer. The Travel Rewards card currently offers 25,000 points after $1,000 in purchases in the first 90 days. The Customized Cash card offers $200 after the same spend requirement. Neither card ranks highly on our list, but if you have your Rakuten earning method set to Bilt, this can be an easy way to pick up extra points across multiple programs. Note that if your Rakuten earnings are set to Amex Membership Rewards, these bonuses will not be available. They are only available when earning cash back or Bilt points.
Rakuten is currently offering 12x on Dell purchases. If you have an American Express Business Platinum card, now could be a good time to use your $150 Dell credit while also earning 12x through Rakuten. Even if you spend only $150 to trigger the full credit, you'd earn 1,800 points if you have your Rakuten payouts set to Amex Membership Rewards or Bilt Rewards. This can be even more attractive for cardholders working toward the Business Platinum's Dell benefit that offers up to $1,000 in statement credits after $5,000 in eligible Dell purchases. Enrollment is required for both Dell benefits.
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. Bilt is also the only major transferable points program that transfers to Hyatt at a full 1:1 ratio across its entire card lineup.
Bilt also has a travel portal that can offer decent redemptions, but not nearly the same value as transferring to partners.
Bilt also 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 offer better value, but booking travel that isn’t possible with transferable miles, like rental cars or cruises, can be a good use of points when you’d rather not pay cash.
Bilt Cash is new with Bilt 2.0. It’s a fixed-value currency that replaces Milestone Rewards and is separate from Bilt Points. Unlike points, Bilt Cash is not transferable to airline or hotel partners and can only be used within the Bilt ecosystem.
You can earn Bilt Cash in a variety of ways. You'll receive a set number when you sign up for each credit card as part of its welcome offer (no spending required). You'll then earn 4% in Bilt cash on all non-housing payment purchases and $50 in Bilt Cash for every 25,000 points earned.
Its most important use is unlocking points on housing payments. Every $30 in Bilt Cash lets you earn 1,000 Bilt Points on rent or mortgage, up to your full monthly payment if you choose Option 2 for how you will be rewarded for housing payments.
How it works
Bilt marketed Bilt Cash as a way to deliver dollar-for-dollar value, but once redemption options expanded beyond earning points on housing payments, that promise started to ring hollow. While the “dollar for dollar” claim is technically true, the redemption limits Bilt has put in place make many options annoying at best and worthless at worst. Using Bilt Cash in these ways feels similar to the coupon-book style of “benefits” that has become common with credit cards, except those benefits are typically unlocked just by holding the card. With Bilt, you must first earn the Bilt Cash through spend before you can use the coupons at all. Bilt cash expires at the end of every calendar year as well, so if you earn a lot of Bilt cash, don't hoard it as you will lose it if you hold it on December 31.
Our favorite ways to use Bilt Cash
If you have extra Bilt Cash from signing up for the card or from choosing Option 2 for your housing payment rewards, here are our favorite ways to redeem it. Note that some options may require holding an annual fee card or having Bilt status. Where that applies, we’ll call it out.
Other ways to use Bilt Cash
Here are other ways to use Bilt Cash. Most of these are low value, coupon book style of uses that will take time and effort. You may find value in some, but most won't move the needle enough to justify the annual fee on the Obsidian or Palladium on their own. Factor in all other benefits to determine if holding either card long-term is best.
Travel & Transportation
Dining & Food Delivery
Entertainment & Lifestyle
Airport & Lounge Benefits (Palladium only)
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 to transferring to partners, so we don’t recommend using Bilt points this way.
Discover your points' highest-value redemption options. Use the filters to find the optimal sweet spot for your next trip.
Bilt uses Points.me, a points consolidator, to search for award availability across all partners. It's a great starting point to see what's available
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. That’s the real reason to pay attention to Bilt: it rewards 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 very favorably to Chase thanks to partners like Hyatt and Atmos. With Bilt now the only major transferable points program that transfers to Hyatt at a full 1:1 ratio across its entire card lineup, many travelers may find Bilt points just as valuable as Chase Ultimate Rewards.
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
