Bilt is rolling out a major change to its rewards program – and this time, it’s not just about earning and redeeming points.
The company announced Thursday that it will introduce Bilt Cash, a brand-new rewards currency designed to complement its existing points program. Launching Jan. 1, 2026, Bilt Cash will replace Milestone Rewards – the temporary bonuses members currently earn as they earn more and more points – and give users a new, fixed-value way to earn and redeem rewards across Bilt’s growing network of local merchants and partners.
Bilt's not ditching its ultra-valuable points program nor steering members to earn redeemable cash in place of points. Instead, you'll earn both points and cash, which you can put toward everyday purchases at restaurants, hotels, fitness studios, delivery services, and more.
The company calls it a “new way to unlock value in addition to points.” From partnering with Lyft and Walgreens to its long-awaited expansion into mortgage payments, this is just Bilt's latest move meant to become a household name.
Don't have a Bilt account? You can sign up and create one for free.
How Bilt Cash Works
Don't worry: Bilt points aren't going anywhere.
Bilt Cash will live alongside your regular Bilt Points balance. You’ll earn $50 in Bilt Cash every time you rack up 25,000 Bilt Points, with each tier immediately unlocking new Bilt Cash to use within the Bilt app.
Unlike Bilt Points – which can be transferred to more than two dozen airline and hotel partners – Bilt Cash has a fixed value when used through Bilt’s growing Neighborhood network of more than 45,000 merchants and 5 million homes.
That means $10 in Bilt Cash equals $10 in real value when redeemed at:
- Neighborhood restaurants using mobile checkout
- Hotels booked through the Bilt Travel Portal
- Fitness classes or the newly launched home delivery service within the Bilt app
Bilt Cash can also unlock one-time elite-style perks, like temporary status upgrades for Rent Day transfer bonuses, early access to experiences, or Home Away from Home benefits for Blue and Silver members.
Why Bilt Is Making the Change
Bilt says the new program is about offering value members can “feel within the Bilt ecosystem,” rather than only through travel transfers. The company has spent the last year expanding rapidly – now powering rent payments in one in four U.S. rental properties and connecting members with tens of thousands of merchants through its Neighborhood platform.
In other words, Bilt is trying to make itself top of mind for everything in its members' lives – not just saving on travel.
“Bilt Cash represents the next evolution of your membership,” the company said in Thursday’s announcement. “It’s a more flexible reward currency that adapts to how you want to experience our ecosystem.”
Bilt Members can continue to use their existing Milestone Rewards through the end of the year, but any unused rewards will expire as the program transitions to Bilt Cash in January.
More details – including new ways to earn and redeem Bilt Cash – are expected later this year.
Good or Bad News?
This move fits squarely into Bilt’s long-term play to build an all-encompassing lifestyle rewards ecosystem — one that extends beyond rent and travel to everyday life.
By layering Bilt Cash on top of Bilt Points, the company is doubling down on keeping members engaged inside its network.
It’s the latest in a flurry of changes Bilt has rolled out over the past year – from new transfer partners, upcoming rewards for mortgage payments, rumors about a new Rakuten partnership, and a new suite of Bilt credit cards expected to launch next year. With so many moving pieces, it’s getting harder to keep track of everything Bilt is doing … and that’s probably the point. Backed by significant venture funding, Bilt appears to be testing what really moves the needle for its most engaged (and most profitable) members.
Related reading: Bilt Rewards: Everything You Need to Know About Earning & Redeeming Points
Bottom Line
Bilt Cash marks a major shift in how Bilt members will earn and redeem rewards – adding a new, spendable layer on top of the already-powerful Bilt Points system.
It won’t replace the value of transfer partners or travel redemptions, but it does make the Bilt ecosystem more rewarding for everyday life. Whether you’re paying rent, grabbing dinner, or booking your next hotel, Bilt is finding more ways to keep you thinking about its ecosystem.
