Bilt Switching to Cardless in 2026
Bilt has revealed that it will switch issuers from Wells Fargo to Cardless in 2026. On top of that it has revealed that the new credit card issuer will offer a portfolio of three distinct products with annual fees varying from $0 to $495.
Here’s the text of the email:
“Bilt Card 2.0 launches in February 2026, and current cardholders will be seamlessly moved from Wells Fargo to our new card platform at that time. More details about the new issuing partner, enhanced rewards including points on both rent and mortgage, the broader card value prop, and the transition process will all be announced early fall. Everything stays the same for you today, and we’ll walk you through the exciting transition as we get closer to launch.
Bilt Card 2.0 is being developed in partnership with Cardless—the platform which recently launched the American Express Coinbase card. The new card lineup will include three distinct products designed to serve Bilt’s diverse member base: a no-fee card option, along with premium cards featuring $95 and $495 annual fees, respectively.”
Bilt already teased these changes earlier this year. No additional details have been provided about the benefits that each card will offer, or the signup bonuses that we might expect. More will be shared this fall.
Currently the Bilt Mastercard has now annual fee and offers an unadvertised bonus of 50,000 points.
It was also revealed today that Bilt Rewards more than tripled its valuation to $10.8 billion in a fresh funding round. Bilt raised $250 million in a round led by General Catalyst and real estate investor GID, which were joined by home lender United Wholesale Mortgage. Bilt Rewards, which is free to join, is best known for giving out rewards points for rent payments and it also looking to do the same for mortgages. We will see how that will work when more details are shared later this year.
As a reminder, Cardless used to have a one card per lifetime rule that was recently dropped. Now you can get at least two cards from them. It will be interesting to see how these rules evolve once they add Bilt to their portfolio.
