Bilt Improves Bilt Cash, but Keeping 4% Back Takes Action

Bilt just announced several changes that are largely consumer-friendly, most of which are coming in 2027.

The biggest update is to Bilt Cash, the secondary rewards currency introduced during the Bilt 2.0 rollout. In a win for cardholders, Bilt Cash will now expire 12 months after it’s earned, rather than at the end of the calendar year, according to the program’s Oct. 27, 2026 announcement. The catch: Bilt is retiring the ability to earn 4% back in Bilt Cash on eligible non-housing purchases unless you opt out of the change before your card account anniversary.

At the same time, Bilt announced several other changes to the Bilt Rewards program, including new benefits when you hold Bilt status, a change to the hotel credits that come on select Bilt credit cards and a new “Daily Rewards” program when you pay for housing or transact through Bilt’s partners.

Bilt Cash is a separate rewards currency from Bilt Points. It was introduced in January 2026 during the fairly chaotic Bilt 2.0 launch. It isn’t traditional cash back; expiration dates, redemption caps and merchant-specific rules make Bilt Cash harder to use. You can spend it on eligible purchases through the Bilt app or on bilt.com.

Until now, cardholders could choose one of two options to earn rewards:

• Option 1: You don’t earn Bilt Cash on credit card spending. Instead, the more non-housing-related spending you put on the card, the higher your “points multiplier” is for earning Bilt Points on housing costs (up to 1.25 points per $1). For example, if you spent $2,000 on rent and spent an extra $2,000 on the card, you’d earn 1.25x points on that rent payment.

• Option 2: You earn 4% back on eligible non-housing spending in the form of Bilt Cash. You can use Bilt Cash to unlock points earnings on housing payments, among other options.

Now, less than a year after it was introduced, Bilt is removing Option 2 unless you opt out of the change before your account anniversary. New cardholders and those who don’t opt out won’t have the option to earn Bilt Cash through everyday credit card spending. Additionally, cardholders who choose to opt out will no longer have the ability to switch between the two earning structures.

But that doesn’t mean Bilt Cash is going away. You’ll still earn $50 of Bilt Cash for every 25,000 Bilt Points you earn. And the currency is becoming easier to use.

So should you opt out? If you’re willing and able to handle the added complexity that comes with balancing two rewards currencies, I’d say opting out of the change and continuing to earn 4% back in Bilt Cash is the more valuable option for most people. But if you want a simpler rewards option, I’d go with the new program. If you want help deciding, see our guide to the Bilt cards.

Under the current system, all but $100 of Bilt Cash will expire at the end of the year. But now, all Bilt Cash will expire 12 months after you earn it, at the end of that last month. For example, Bilt Cash earned in November 2026 will expire Nov. 30, 2027, rather than Dec. 31, 2026.

This is a welcome change. I’m a Bilt Palladium Card holder who will opt out and continue to earn Bilt Cash at a 4% rate on eligible non-housing spending with my card, so that means I earn $40 in Bilt Cash for every $1,000 I put on the card. Until now, I was worried about how I’d use the Bilt Cash I earn during the winter holiday season before it expires. But with this change, that year-end expiration is no longer a concern.

Effective on your next cardmember anniversary, unless you opt out, annual hotel credits on the Bilt Palladium Card and Bilt Obsidian Card will be issued as Bilt Cash. They’ll also be doled out by anniversary year rather than calendar year. This broadens the credit’s use while still letting you redeem Bilt Cash for hotel stays in Bilt’s travel portal. It’s really a change in the credit’s form and flexibility, since the overall dollar amount stays the same.

There’s a downside, though: Effective Jan. 1, 2027, you’ll only be able to redeem Bilt Cash for hotels booked through Bilt twice annually. Currently, you can redeem Bilt Cash for hotels booked through Bilt on a monthly basis. As before, there’s a two-night minimum when you use Bilt Cash for these hotel redemptions.

The amount of Bilt Cash you can redeem toward these hotel stays will be based on your Bilt status or card. Blue and Silver members can redeem up to $50 in Bilt Cash per redemption, while Gold and Platinum members can redeem up to $100. Eligible Bilt Palladium Card holders can redeem $200 per redemption.

But the positives outweigh the negatives here, in my opinion. You still have the option to redeem Bilt Cash for more valuable options, like the Point Accelerator, which lets eligible cardholders earn an extra Bilt Point per $1 spent on everyday spending categories on up to $5,000 in spending, up to five times a year. You can then redeem those extra points for hotel stays, avoiding those redemption caps.

I already have hotel credits on a handful of other credit cards, so seeing these Bilt cards maintain the dollar value of these credits while adding additional flexibility is a welcome change.

Coming in 2027, Gold and Platinum members in the Bilt Rewards program can redeem Bilt points for hotel bookings in the Home Away from Home program, a curated collection of more than 2,000 luxury properties. A two-night stay is required to receive VIP perks similar to AmEx Fine Hotels and Resorts or Chase’s The Edit, including:

• Daily complimentary breakfast for two.

• Room upgrade (subject to availability).

• Early check-in and late check-out (subject to availability).

• $100 property credit per stay.

You can get Bilt Gold status as part of the first-year welcome offer with the Bilt Palladium Card, but you can also earn Bilt status by spending in the Bilt ecosystem with any linked debit or credit card. Eligible travel redemptions through Bilt give your points a value of 1.25 cents each (a $1,000 stay would require 80,000 points). That’s 25% better value for your points than the 1 cent each you’ll get when you use Membership Rewards points to book a stay with Fine Hotels and Resorts through AmEx (a $1,000 stay would require 100,000 points).

Additionally in 2027, Bilt elites can receive a status match with SIXT and Hertz, allowing you to access complimentary upgrades and bonus rewards when you rent a car.

• Bilt Platinum members gain access to SIXT ONE Platinum and Hertz President’s Circle.

• Bilt Silver and Gold members get SIXT ONE Gold and Hertz Five Star.

Beginning Jan. 15, 2027, Bilt is introducing a Daily Rewards program for all qualifying members, not just cardholders. It will offer bonuses for each on-time housing payment and daily qualifying transaction you make with a Bilt neighborhood partner, in addition to the chance to win larger prizes.

According to Bilt, each Daily Reward will reveal two rewards and you choose one to claim. Rewards range from instant prizes like Bilt Points and Bilt Cash to collectibles. For cardholders, this is in addition to the points you earn for housing payments or with neighborhood partners.

While we still need to see the value that Daily Rewards will add, the ability to earn more points and prizes is a good thing.

Bilt has introduced product changes for its credit cards, allowing you to swap an existing Bilt card for a higher- or lower-tier card. Previously, Bilt didn’t offer these product changes.

Say you have the Bilt Palladium Card and no longer want to pay the $495 annual fee. You can now downgrade that card to one of Bilt’s lower-cost options, including the Bilt Obsidian Card or Bilt Blue Card, without submitting a new application.

This is important because you can switch to a card that might be more suitable for your spending habits without triggering an additional credit inquiry.

You can upgrade to a card with a higher annual fee through the Bilt app. To downgrade your card to one with a lower annual fee, you’ll need to call the customer service number on the back of your card.

There are a few actionable takeaways for Bilt Rewards members.

Opt out if you want to continue earning 4% Bilt Cash. You will no longer have the ability to earn 4% back in Bilt Cash on eligible non-housing purchases, unless you opt out of the change before your account anniversary. You can do this by navigating to your account’s card settings. Personally, I’m planning to opt out so I can continue to earn Bilt Cash. That extra 4% back I earn in Bilt Cash is like a cherry on top of the points I earn with my Bilt Palladium Card. And now that I don’t have to worry about most of my Bilt Cash expiring at the end of the calendar year, I value it even more.

Switch to a different card, if you want. Instead of closing your Bilt account, consider changing to a card that better suits your spending habits. That could mean upgrading or downgrading your card with no credit inquiry.

I rarely close a credit card and instead opt to downgrade less-used cards to versions with no annual fee. This allows the account to stay on my credit report, adding to the length of my credit history and preserving my available credit, which keeps my credit utilization low. You might also consider upgrading your card if you think you’ll take advantage of the added benefits.

Next year, apply for your car rental status match. This won’t be available until 2027, but be sure to apply for a status match between Bilt and SIXT or Hertz when you can. Status matches can sometimes take a little bit of time to go through, so be prepared.

Bilt is already my favorite transferable rewards ecosystem, and these changes just strengthen that opinion. I get more time to use my Bilt Cash for things like enhanced Rent Day transfers and Point Accelerator options, which allow you to earn more Bilt points on your eligible spending. Plus, the ability to parlay my elite status into award stays with Home Away from Home opens up luxury lodging opportunities and benefits at a much better redemption rate than I can get with AmEx, and in many cases, Chase.

Bilt also has the strongest stable of transfer partners in the industry, in my view, and the continued addition of new partners like Amtrak Guest Rewards and JetBlue TrueBlue just adds to the value I can get out of the program.

The main trade-off for cardholders is losing the ability to earn 4% back in Bilt Cash on purchases with a Bilt credit card, unless they opt out. But people who prefer the simplicity of earning points on housing payments without dealing with a secondary rewards currency may not notice a change.