Bilt cardholders who want to keep earning 4% in Bilt Cash on everyday purchases will need to make an active choice before their first card anniversary in 2027. Bilt's October 27 announcement replaces that earning option with housing-based points under its refreshed benefits, while converting some hotel credits into Bilt Cash.
The changes have different start dates. Cash expiration changes immediately. Hotel redemption limits change January 1. Existing card accounts move later, on their own anniversary, unless the cardholder opts out.
Find your account's decision date
According to Bilt's program FAQ, existing cardholders keep their current benefits and rewards setting until their first card account anniversary in 2027. Accepting a card offer on or after January 1 brings the refreshed benefits immediately.
Bilt defines the anniversary as the first day of the billing cycle following the anniversary of the account's opening date. Someone who opened an account February 7, 2026, for example, should look for the billing cycle following February 7, 2027. The in-app concierge can confirm the date.
The legacy election requires Flexible Bilt Cash to be your active rewards option. Opt out in the app's card settings before that anniversary. Authorized users follow the primary account's decision.
What happens to the annual credits
Annual fees in the card offer terms are $0 for Blue, $95 for Obsidian and $495 for Palladium. The new amounts replace existing benefits:
| Card | Current annual benefits being replaced | Refreshed annual credit |
|---|---|---|
| Obsidian | $100 in hotel credits, split into two $50 periods | $100 Bilt Cash |
| Palladium | $400 in hotel credits plus $200 Bilt Cash | $600 Bilt Cash |
The Palladium change combines two benefits with a total face amount of $600. It does not add another $600 on top. Everyday purchase points multipliers remain unchanged, Bilt says.
Existing Palladium holders still receive a $200 hotel credit on January 1, 2027; Obsidian holders receive $50. But any unused hotel credit expires when the account moves to the refreshed benefits. The replacement annual Bilt Cash arrives on the account anniversary. Even Palladium holders who opt out receive their continuing $200 annual Bilt Cash on their anniversary rather than January 1.
More time to redeem, fewer hotel opportunities
The Bilt Cash terms, updated October 27, give each award until the end of the month 12 months after it was earned. Cash earned October 10, 2026, expires October 31, 2027, at 11:59 p.m. Pacific. The earliest-expiring balance is used first.
Bilt Cash cannot be withdrawn to a bank account. Its value depends on eligible redemptions and their limits.
Starting January 1, hotel bookings through the Bilt Travel Portal allow two Bilt Cash redemptions per calendar year, with a two-night minimum:
| Eligibility | Maximum per redemption | Maximum across two redemptions |
|---|---|---|
| Blue or Silver status | $50 | $100 |
| Gold or Platinum status | $100 | $200 |
| Palladium on refreshed benefits | $200 | $400 |
Those are opportunities to spend a balance you already have. They are separate from the annual credit that puts Bilt Cash into the account.
Frequent Miler's analysis identifies the reduced hotel frequency as a drawback for frequent users. Under the monthly limits through 2026, a Blue or Silver member could theoretically use $600 across 12 qualifying bookings; the 2027 maximum is $100. Gold and Platinum fall from a theoretical $1,200 to $200. Those calculations assume enough Bilt Cash and qualifying stays to use every allowance.
For a Palladium holder receiving $600, even the full $400 hotel allowance leaves $200 to redeem elsewhere.
Compare earnings with your actual spending
The card offer terms tie refreshed housing rewards to eligible everyday purchases in the same billing cycle. For a $2,000 housing payment:
| Everyday purchases | Housing points |
|---|---|
| $500 | 1,000 |
| $1,000 | 1,500 |
| $1,500 | 2,000 |
| $2,000 or more | 2,500 |
Below the 25% spending threshold, an eligible housing payment earns the 250-point account minimum. These housing rewards are additional to ordinary purchase points.
Keeping Flexible Bilt Cash instead preserves 4% Bilt Cash earning. At $1,500 in eligible everyday purchases, that produces $60 Bilt Cash. At the published rate of $30 per 1,000 housing points, the calculation is $60 for 2,000 points on a $2,000 housing payment. That arithmetic does not settle how much of a larger balance must be redeemed.
Bilt’s official instructions conflict. Its program FAQ, updated October 27, says the entire available Bilt Cash balance must be redeemed. The card offer terms, also updated October 27, say Flexible Bilt Cash cardholders choose the amount and keep unused cash for other redemptions. That terms section covers accounts opened before January 1, 2027, including the legacy option. We found no official clarification resolving the discrepancy. Confirm the applicable redemption requirement with Bilt before relying on a partial-balance redemption.
The Points Guy's explanation distinguishes those housing-point redemptions from dollar-for-dollar partner credits. Its founder is a Bilt adviser and investor. Neither currency has a universal cash-equivalent value across redemptions.
Opting out preserves eligible legacy credits but ends switching between the two legacy earning modes. You can later move permanently to the refreshed benefits, effective the next billing cycle. Bilt's terms say that move cannot be reversed. An upgrade or downgrade also moves the account to the refreshed benefits, so changing card products can undo the choice to keep Flexible Bilt Cash.
Correction, October 27, 2026: This article previously presented full-balance redemption as a settled requirement. Bilt’s FAQ and card offer terms conflict on that point; the article now identifies both instructions.
