Financial technology company Bilt has confirmed it will launch a new lineup of credit cards on February 7, 2026, expanding its popular rewards program to include mortgage payments for the first time. The move marks a significant evolution from the company's original focus on rewarding renters, positioning it to attract homeowners in the competitive credit card market.
The new cards, issued by Cardless, will replace the current Bilt Mastercard from Wells Fargo. Existing cardholders will be offered a seamless transition to one of three new card options without a hard credit inquiry, ensuring no impact on their credit scores.
Key Takeaways
- Bilt will launch three new credit cards on February 7, 2026, in partnership with Cardless.
- The new program will allow members to earn rewards points on mortgage payments.
- Current Bilt Mastercard holders can switch to a new card without a new application or hard credit pull.
- Account numbers will remain the same, preventing disruption to automatic payments.
- The current Wells Fargo partnership will end, with non-transitioned accounts converting to a Wells Fargo Autograph℠ Card.
A Major Shift from Rent to Homeownership
Bilt carved out a unique niche in the rewards market by allowing users to earn points on rent payments without incurring transaction fees. This strategy appealed directly to millions of American renters. Now, the company is broadening its scope to include homeowners, a demographic previously unable to earn rewards on their largest monthly expense.
The ability to earn points on mortgage payments is a groundbreaking feature in the loyalty program landscape. Homeowners with loans from any major lender, including Wells Fargo and Chase, will be eligible to accumulate Bilt Rewards Points. This expansion fundamentally changes Bilt's value proposition, transforming it from a renter-centric tool to a comprehensive household finance platform.
The introduction of mid-tier and premium card options suggests Bilt is aiming to compete more directly with established travel and lifestyle credit cards from issuers like American Express and Chase. More details on the specific benefits and earning structures of the three new cards are expected at a special event in early January 2026.
The End of an Era with Wells Fargo
The transition to Cardless marks the conclusion of Bilt's partnership with Wells Fargo, which has issued the Bilt Mastercard since its inception. This change reflects a strategic pivot for Bilt as it seeks greater control over its product offerings and user experience. Cardless is a financial technology company that specializes in creating co-branded credit card programs for modern brands.
Seamless Transition for Existing Cardholders
Bilt has emphasized that the transition for current customers will be smooth and straightforward. A key concern for many during a card portfolio change is the administrative hassle of updating payment information. Bilt has addressed this by ensuring that existing card numbers will not change.
This means cardholders will not need to update their information for recurring payments, such as streaming subscriptions, utilities, or other autopay services. Digital wallets like Apple Pay and Google Pay are also set to update automatically with the new card details.
No Impact on Credit Scores
A significant benefit for current users is the absence of a hard credit inquiry for the transition. When applying for new credit, lenders typically perform a hard pull on a consumer's credit report, which can temporarily lower their score. By avoiding this step, Bilt allows its members to choose a new card from the lineup without any negative credit implications.
Starting in early January, after the new cards are officially unveiled, current Bilt Mastercard holders will be prompted to select one of the new Bilt Card 2.0 options. The new physical card will then be shipped to arrive by the February 7 launch date.
What Happens to Old Accounts?
Current cardholders will be able to use their Wells Fargo-issued Bilt Mastercard until February 6, 2026. All accumulated points and membership benefits will remain intact throughout this period. After this date, members will have several choices:
- Transition to a new Bilt Card: Select one of the three new options issued by Cardless.
- Transfer an existing balance: Cardholders may be able to transfer their balance to the new card, subject to approval.
- Close the account: Members can choose to close their Wells Fargo account.
- Convert to a Wells Fargo card: If a cardholder takes no action, their account will automatically be converted into a Wells Fargo Autograph℠ Card. This will involve receiving a new card number and operating under Wells Fargo's terms.
This automated conversion ensures that no customer is left without a functioning credit card, but those who wish to remain in the Bilt ecosystem must actively choose one of the new products.
For now, Bilt has stated that members do not need to take any immediate action. The company plans to provide detailed guidance and communication to walk users through the selection process in the new year. Interested individuals can sign up for early access to information on the Bilt website.
