Bilt 2.0 Update (Jan 2026): The New Tiered Rent Points Option (And the Real Math)

TL;DR: Bilt has patched the most confusing aspect of the Bilt 2.0 launch. You now have two distinct choices for earning rewards on rent/mortgage:

Option 1 (Tiered Points): Earn up to 1.25x points on housing automatically based on your monthly spend percentage (relative to your housing cost). The catch? You give up earning 4% "Bilt Cash" on everyday spend.
Option 2 (Bilt Cash Unlock): Keep earning 4% Bilt Cash on everyday spend and use it to "unlock" up to 1x points on housing (approx. $30 Bilt Cash → 1,000 points).

And yes, the 3% fee still technically exists—but it operates differently depending on your settings. Here is the full breakdown of the math, the tiers, and which option you should actually pick.

What Changed (And Why It Matters)

Following the Bilt 2.0 launch, user feedback regarding the "Bilt Cash unlock" model was... loud. In response, Bilt CEO Ankur Jain introduced a new "Option 1" designed to be simpler and explicitly fee-free.

Bilt has stated clearly: Cardholders will never be charged a fee to earn rewards on housing payments.

This statement is critical because it reframes the entire product. Housing rewards are no longer just a "free lunch" for paying rent; they are a behavioral incentive designed to encourage you to use the card for your everyday spending.

Option 1: Tiered Points (Simplicity, But No Bilt Cash)

If you select Option 1, your rent or mortgage earns points automatically. There is no transaction fee to manage and no second currency to track. Instead, your points multiplier is determined by how much you spend on the card that month relative to your housing payment.

The Option 1 Tiers

Monthly Spend (% of Housing)	Points Earned on Housing
≥ 25%	0.5x
≥ 50%	0.75x
≥ 75%	1.0x
≥ 100%	1.25x

The Tradeoff: Under Option 1, your everyday spending does not earn 4% Bilt Cash. You still earn your standard base points (e.g., 3x on dining, 2x on travel), and Bilt states you will still receive any welcome or annual Bilt Cash credits tied to your specific card tier.

The Floor: If you fail to hit the minimum 25% spend tier, you will still earn a flat 250 points/month on your housing payment.

Who is this for? This is the "set it and forget it" option. If you want housing points without managing a second currency or timing your redemptions, this is your path.

Option 2: The Unlock Model (Flexibility & Optimization)

Option 2 is the original mechanics announced with Bilt 2.0.

You earn base Bilt Points on card spend.
You earn 4% back in Bilt Cash on everyday spending (excluding rent/mortgage).
You use that Bilt Cash to "unlock" housing points with no transaction fee.

The Unlock Rate

Bilt allows you to redeem approximately $30 in Bilt Cash to unlock 1,000 points (up to your total housing payment amount).

The CardSavvy Shortcut

To unlock a full 1x on housing (fee-free), you need to generate Bilt Cash equal to roughly 3% of your housing payment. Since you earn 4% Bilt Cash on everyday spend, we can calculate the break-even point:

0.03 (Required Bilt Cash) ÷ 0.04 (Earn Rate) = 0.75

This is where the "75%" figure comes from. You need your everyday spend to be approximately 75% of your rent to unlock full 1x rewards under Option 2. This is separate from the Option 1 tiers, though the math converges at similar spend levels.

The "3% Fee" & Payment Settings

Even with these new options, you need to watch your payment settings when checking out for rent/mortgage. Bilt's terms describe two modes:

No Transaction Fee: You redeem Bilt Cash to unlock points (up to 1 point per $1). If you don't have enough Bilt Cash, you simply earn fewer points.
Max Points: You choose to earn full 1x points on housing regardless of your Bilt Cash balance. A 3% transaction fee applies to the uncovered portion, which Bilt Cash can automatically cover.

Practical Takeaway: The product now has two layers of choice. First, you choose your reward structure (Option 1 vs. Option 2). Second, you choose your payment processing method (No Fee vs. Max Points).

Important: No More Credit Float

A largely under-discussed change in Bilt 2.0 is the funding source. Bilt states that rent/mortgage payments are pulled directly from your linked bank account and do not use your credit line.

Translation: This is no longer "pay rent on a credit card and float the cash for 30 days." It is effectively a bank debit with a rewards layer wrapped around it. Plan your cash flow accordingly.

The Verdict: Which Option is Better?

Pick Option 1 (Tiered) If:

You value simplicity above optimization
Your monthly spend is naturally a meaningful fraction of your rent (25%+)
You do not want to worry about Bilt Cash expiration (which happens yearly, with only $100 rollover)
You want a predictable rewards structure

Pick Option 2 (Unlock) If:

You are a power user who optimizes across multiple reward currencies
You can reliably use Bilt Cash inside the ecosystem (e.g., the travel portal, partner checkout) and value it at face value
You want the flexibility to decide month-by-month how much housing you unlock
You want to "bank" Bilt Cash for larger offsets later (mind the expiration)

What To Do Now

Open your Bilt app and check which housing rewards option is currently selected. Bilt has indicated that changes to your selection take effect the following month, so if you want to switch strategies, lock it in before your next statement closes.

If you want the full deep dive on the original mechanics, read our detailed review: Bilt Card 2.0 Review (2026).

Not sure which option maximizes your specific spending patterns? Use our Bilt 2.0 Calculator to compare Option 1 vs Option 2 based on your actual rent and spending.