Bilt Rewards is inching closer to its most significant overhaul yet – and we now have a clearer picture of when cardholders (and prospective cardholders) will see exactly what Bilt Card 2.0 will look like.
While many of the most important details remain under wraps, Bilt announced key dates and transition mechanics late last week. The new card lineup launches February 7, 2026, and will, for the first time, allow members to earn Bilt points on all mortgage payments, not just rent.
At the same time, Reddit speculation about potential earning changes has intensified. Some claims are circulating widely, but Bilt has already pushed back on at least one so-called “leak.”
Here’s everything we know so far, what’s confirmed, and what remains unanswered.
Related reading: Bilt Card 2.0 & Point-Earning on All Mortgages Launches in February!
Bilt Card 2.0: Key Dates to Know
Bilt shared new details over the weekend, laying out a firm timeline for the transition away from the Wells Fargo-issued Bilt Mastercard®.
Here is the confirmed schedule:
- On January 14, 2026, Bilt will reveal the full value propositions of all three Bilt Card 2.0 options. Bilt will also open pre-orders, allowing cardholders to select which card they want.
- January 30, 2026, will be the deadline to choose a card in order to ensure a seamless upgrade.
- New Bilt Card 2.0 cards are expected to arrive on February 6, 2026. Existing Wells Fargo Bilt Mastercards continue working through this date
- February 7, 2026, marks the official launch of Bilt Card 2.0. Additionally, any Wells Fargo Bilt Mastercards that have not been upgraded will be deactivated for users.
How the “Seamless Upgrade” Will Work
If Bilt’s transition goes according to plan, most cardholders shouldn’t notice much disruption at all … at least operationally.
Cardholders who opt into Bilt Card 2.0 during the pre-order window will keep their existing card number, meaning subscriptions, autopay settings, and saved payment methods shouldn’t break. Bilt says Apple Pay and Google Pay will update automatically as well, avoiding the usual scramble to re-enter card details everywhere.
Upgrading won’t trigger a hard credit inquiry, but it will show up as a new account. Bilt plans to deliver the new cards by Feb. 6 – just ahead of the Feb. 7 launch – so cardholders can continue spending without interruption.
Behind the scenes, Bilt will also give members a couple of choices. Cardholders can move any existing balance from their Wells Fargo-issued Bilt card to the new Bilt Card 2.0, or they can keep the accounts separate. And for those ready to fully cut ties with Wells Fargo, Bilt says it will coordinate the closure of the old account shortly after the transition.
In other words, the mechanics of the switch appear intentionally boring – a deliberate contrast to the much bigger unanswered questions about how generous the new cards will actually be.
What Happens If You Don’t Upgrade?
Doing nothing is still an option, and it's now clear what that choice looks like.
If you don’t opt into Bilt Card 2.0, your existing Wells Fargo–issued Bilt Mastercard will continue working as usual through February 6, 2026. The next day, February 7, it will be deactivated as part of Bilt’s transition away from Wells Fargo.
That shutdown applies only to the credit card itself – not to your Bilt Rewards account. Your points balance, elite status, and overall Bilt membership remain intact, whether you upgrade or not. Bilt has increasingly emphasized that it’s no longer a credit card company, but a broader rewards program tied to where you live and spend most.
As for your Wells Fargo account, it doesn’t simply disappear. If you don’t upgrade, or if you upgrade but choose not to close the old account, Wells Fargo will convert it into a Wells Fargo Autograph Card, which you’ll manage separately. In this case, you'll start earning Wells Fargo Rewards points, which can be transferred to a limited set of transfer partners – no more earning Bilt points for your day-to-day spending with the Autograph Card.
In short, skipping the upgrade won’t erase your points, but it will end your ability to earn new Bilt points through a credit card. Whether that’s acceptable depends on how central the card is to your Bilt strategy – and how compelling the new lineup turns out to be.
A Quick Refresher: What Bilt Card 2.0 Will Include
As Bilt first confirmed last summer, the company is rolling out a three-card lineup as part of Bilt Card 2.0, which is issued by the fintech platform Cardless and will launch on February 7, 2026.
That lineup includes:
- A no-annual-fee card, replacing the current Wells Fargo–issued Bilt Mastercard
- A $95 annual fee card, offering a higher tier of benefits
- A $495 annual fee premium card, aimed at higher spenders and frequent travelers
Bilt has since confirmed that all three cards will allow members to earn points on mortgage payments, regardless of who services the loan – a significant expansion beyond Bilt’s original rent-only model.
While pricing and the three-card structure have been confirmed, Bilt has not yet released full details on earning rates, perks, or potential bonus offers. Those specifics are expected when the company officially unveils the lineup on January 14.
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Rumors Are Flying, But Bilt Is Pumping the Brakes
As anticipation builds ahead of the January 14 reveal, Reddit threads have fueled speculation about what the new cards might look like, including claims that:
- The no-annual-fee card will be significantly weakened.
- Rent or mortgage earnings could drop as low as 0.5x points per dollar spent.
- New minimum non-rent spending requirements could replace the current “five transactions per month” rule.
- Only paid cards will include sign-up bonuses.
Those claims stem largely from a December AMA posted by a Reddit user who claimed to be a Bilt investor with insider knowledge.
But Richard Kerr, Bilt’s VP of Travel, has publicly rejected that characterization, stating: “This person is not representative of Bilt and has no insider information on our business; we don’t know who they are.”
While Kerr did not confirm or deny specific card features, he directly undercut the credibility of the alleged leak. Other Reddit users noted that many of the claims closely resemble older Bilt surveys and appear to be educated guesses rather than sourced information.
For now, Bilt has been clear on one point: Official card benefits, earning rates, and bonuses will be revealed on January 14 – not on Reddit.
What This Means for Travelers
Bilt points remain one of the most valuable and flexible currencies in travel, thanks to transfer partners like Alaska Airlines, Japan Airlines, Air Canada Aeroplan, World of Hyatt, Turkish Airlines, Virgin Atlantic, and many more.
Opening up point-earning on mortgage payments — on top of rent — turns another massive monthly expense into a potential points-earning engine.
But whether Bilt Card 2.0 becomes a must-have for travelers will hinge on details we still don’t know: how generous earning rates will be, whether the no-annual-fee card remains compelling, and how much spending Bilt will require beyond rent or mortgage payments.
Read More: Everything You Need to Know About Earning & Redeeming Bilt Points
Bottom Line
Bilt Card 2.0 launches February 7, 2026, and the countdown is officially on.
Bilt has now confirmed that the entire card lineup will be revealed on January 14, when current cardholders can pre-order and select which of the three cards they prefer. The transition away from Wells Fargo is designed to be smooth for those who upgrade, and final for those who don’t.
There’s plenty of speculation circulating, but the guessing ends soon. January 14 will determine whether Bilt Card 2.0 is simply a reset or a true evolution of one of the most disruptive rewards programs in travel.
