Picture a renter with a $2,000 monthly payment who runs about $1,500 of groceries, gas and takeout through a Bilt card each month. That spending has been earning 4% in Bilt Cash, which unlocks points on rent. Bilt’s card terms, updated October 27, 2026, put an end date on that setup for many members, so the bilt cash vs housing only decision now sets how many points your rent produces.
The short answer to bilt cash vs housing only: Housing-only rewards pays up to 1.25X points on rent or mortgage with no extra steps, scaled to your card spending. Flexible Bilt Cash pays 4% back in Bilt Cash on everyday purchases, then caps housing points at 1X once you redeem enough of it. On points alone, Housing-only ties or wins in every scenario we ran below. Flexible Bilt Cash makes sense mainly if you want spare Bilt Cash for other uses.
What changes for Bilt cardholders after January 1, 2027
Bilt now offers two Rewards Options, and the timing hinges on a date most people will need to look up: your first card anniversary that lands on or after January 1, 2027. If Housing-only is your active option on that anniversary, Bilt’s card offer terms say the 4% Bilt Cash on everyday purchases stops at that point. Points on housing payments keep coming as before.
Cardholders who want to hold on to the 4% structure can make what Bilt calls a Legacy Election in the Bilt App before that anniversary. Doing so keeps you on Flexible Bilt Cash, but Flexible Bilt Cash has to be your active option when you make the election. Option switches take effect the next billing cycle, so leave yourself time. The door only swings one way, though: per the terms, once you transition to Housing-only, there is no route back to Flexible Bilt Cash.
Two more rules matter. If you never pick an option, your account defaults to Housing-only. And accounts opened on or after January 1, 2027 are governed by their own section of the terms, so anyone planning to apply later should read that section first. Our guide to Bilt welcome offer eligibility covers the application side.
Bilt cash vs housing only, side by side
| Feature | Housing-only rewards | Flexible Bilt Cash |
|---|---|---|
| Points on rent or mortgage | 0X to 1.25X, earned automatically | Up to 1X, unlocked by redeeming Bilt Cash |
| Bilt Cash on everyday purchases | Ends at your first anniversary on or after Jan. 1, 2027 | 4% back |
| Cost to unlock housing points | Nothing | $3 of Bilt Cash per 100 points |
| Floor per billing cycle | 250 points | Depends on Bilt Cash you redeem |
| Switching rules | No path back to Flexible | A move to Housing-only is permanent |
How the bilt housing only rewards multiplier is set
Housing-only ties your rent multiplier to how much you put on the card compared with your housing payment. Bilt’s card page shows the tiers using a $2,000 payment:
- Card spend under 25% of rent: the 250-point minimum per billing cycle
- 25% to under 50% of rent: 0.5X, or 1,000 points
- 50% to under 75% of rent: 0.75X, or 1,500 points
- 75% to under 100% of rent: 1X, or 2,000 points
- 100% of rent or more: 1.25X, or 2,500 points
There is no monthly or annual cap on housing points under this option. That helps mortgage holders and big rent payers.
Running the numbers on $2,000 rent
Here is how bilt cash vs housing only plays out at four spending levels. The table counts only the points tied to your housing payment plus any Bilt Cash left over. Under Flexible Bilt Cash, the 4% earnings are converted at Bilt’s posted rate of $3 per 100 points, up to the 1X ceiling.
| Monthly card spend | Housing-only points | Flexible: Bilt Cash earned | Flexible: points unlocked | Bilt Cash left over |
|---|---|---|---|---|
| $500 | 1,000 | $20 | 600 | $2 |
| $1,000 | 1,500 | $40 | 1,300 | $1 |
| $1,500 | 2,000 | $60 | 2,000 | $0 |
| $2,000 | 2,500 | $80 | 2,000 | $20 |
At low and middle spending, Housing-only hands you more rent points without spending anything. The two meet at 75% of rent. Above that, Housing-only keeps climbing to 1.25X while Flexible Bilt Cash stops at 1X and leaves you holding extra Bilt Cash. For a pure bilt cash vs housing only points race, Housing-only never loses in these examples.
What points are worth also depends on transfer partners, whose terms can shift, as the recent Bilt Hyatt transfer ratio change showed.
Where Flexible Bilt Cash still pulls ahead
Point Accelerators. Bilt Obsidian and Bilt Palladium cardholders can spend $200 of Bilt Cash to add 1X on top of base earning, covering as much as $5,000 in eligible purchases, and can do this up to five times per calendar year. Rent, mortgage and housing-related fees do not count. For accounts opened before 2027, the terms require Flexible Bilt Cash to use this until that first anniversary on or after January 1, 2027. Compare the math: $198 of that $200 could instead unlock 6,600 rent points, while an Accelerator adds at most 5,000. So in the bilt cash vs housing only math, Accelerators work best for Bilt Cash you could not put toward rent anyway.
Hotel redemptions are shrinking. Through December 31, 2026, members can apply Bilt Cash to hotels up to $50 per month at Blue and Silver or $100 per month at Gold and Platinum. Starting January 1, 2027, that drops to two redemptions per calendar year, each capped at $50, $100, or $200 for eligible Palladium cardholders.
A one-way door. Bilt’s terms treat a transition from Flexible Bilt Cash to Housing-only as final, and they describe no path in the opposite direction. Picking Housing-only early therefore closes off the 4% structure for good. Also keep in mind that Bilt Cash expires on the last day of the month 12 months after you earn it, and it cannot be used as a statement credit on your card balance.
Which Bilt option should you pick?
Pick Housing-only if your goal is the most points on rent or mortgage, you put at least a quarter of your housing payment on the card each month, and you do not want to manage a second currency. Heavy spenders who reach 100% of their rent see the widest bilt cash vs housing only gap, since 1.25X beats anything Flexible Bilt Cash can unlock.
Pick Flexible Bilt Cash if you already spend well beyond your rent, plan to use several Point Accelerators a year on big purchases, or would rather not make a permanent call yet. Since the bilt cash vs housing only switch only runs in one direction, staying flexible costs little if your spending sits near the 75% mark where both options tie.
Frequently asked questions
Is Bilt Cash or points better?
In a bilt cash vs housing only comparison of rent points, Housing-only rewards matches or beats Flexible Bilt Cash at every spending level in our $2,000 rent examples. Bilt Cash is better only if you will use it on Point Accelerators or hotels.
Can you switch back from Bilt housing only to Flexible Bilt Cash?
No. Bilt’s terms say that once you transition to the Housing-only option, you cannot return to Flexible Bilt Cash.
What happens if you do not choose a Bilt rewards option?
Your account defaults to Housing-only. For accounts opened before 2027, that means the 4% Bilt Cash on everyday spend stops at your first card anniversary on or after January 1, 2027.
Should you make the Legacy Election before your Bilt anniversary?
If you spend less than your monthly rent on the card and simply want points, let Housing-only take over and skip the election. If you spend more than your rent, lean on Accelerators, or are unsure, make the Legacy Election in the Bilt App before your first anniversary on or after January 1, 2027, because that bilt cash vs housing only choice can only be undone in one direction. Run your own spend-to-rent ratio first; it decides this better than any headline.
