#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.
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.
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.
Bilt Rewards is offering two transfer bonuses on October 1, 2026. First, members can get up to a 200% bonus when transferring to Hilton Honors. The standard transfer ratio is 1:1, so for every 1,000 Bilt points transferred, Blue members will receive 1,750 Hilton points, Silver 2,000, Gold 2,500, Platinum 2,750, and Platinum members who opt into the buy-up 3,000 Hilton points. The bonus is capped at 100,000 Bilt points transferred.
Bilt is also offering up to a 125% transfer bonus to its newest transfer partner, Amtrak Guest Rewards. The standard transfer ratio is 2:1, so for every 1,000 Bilt points transferred, Blue members will receive 625 Amtrak points, Silver 750, Gold 875, Platinum 1,000, and Platinum members who opt into the buy-up 1,125 Amtrak points. This bonus is also capped at 100,000 Bilt points transferred and is available only on October 1, 2026.
Bilt Rewards will reduce its transfer ratio to World of Hyatt from 1:1 to 4:3 beginning January 1, 2027. That means every 1,000 Bilt points transferred will get you 750 Hyatt points instead of 1,000, a 25% reduction. The change comes just three months after Chase announced the same reduced 4:3 ratio for Sapphire Preferred and Ink Business Preferred cardholders, which took effect today, October 1. Bilt members still have through the end of 2026 to transfer to Hyatt at 1:1. While we don't generally recommend speculative transfers, if you transfer points to Hyatt regularly each year, this may be a case where one makes sense. Keep in mind, though, that there is likely a flood of points entering Hyatt's system right now, as many Chase cardholders transferred points ahead of today's devaluation. We expect a similar rush of Bilt-to-Hyatt transfers before the ratio changes in 2027. That could mean more competition for Hyatt award space, especially at popular properties and during peak dates, simply because more members will already have points sitting in their Hyatt accounts and ready to use.
September 28, 2026 update: The Rakuten bonus on the Bank of America Travel Rewards card is back up to its all-time high of $400/40,000 Bilt points. The Customized Cash Rewards and Unlimited Cash Rewards cards are both offering $200/20,000 Bilt points, below their all-time highs of $225/22,500 points.
These Rakuten bonuses change frequently and sometimes last only a day or two. We've seen the Travel Rewards bonus reach as high as $400/40,000 Bilt points and the Customized Cash Rewards and Unlimited Cash Rewards bonuses reach $225/22,500 points. If you're considering one of these cards, it's worth checking the current Rakuten offer before applying.
August 25, 2026: Rakuten is offering elevated bonuses when applying for three Bank of America cards, which you can then stack with each card's welcome offer. Earn $250 from Rakuten on the Bank of America Travel Rewards card, $150 on the Customized Cash Rewards card, or $75 on the Unlimited Cash Rewards card. The Travel Rewards card also offers 25,000 points after spending $1,000 in the first 90 days, while the Customized Cash and Unlimited Cash cards offer $200 and $250, respectively, after meeting their spending requirements. That makes these solid overall offers for cards with no annual fee. If you have your Rakuten earning preference set to Bilt, you can earn Bilt points instead of cash back, although the conversion rate depends on your Bilt status. These offers are not available if your Rakuten account is set to earn Amex Membership Rewards.
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’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. 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, if not more 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
