Bilt Rewards changing Milestone Rewards, adds rewards for deliveries and parking

Bilt has been busy lately.

Today, the company announced that it would be changing its Milestone Rewards scheme. Instead of a series of nominal perks that can be earned at various point thresholds, it will be introducing “Bilt Cash,” which will be given to members after each 25,000 points they earn within a calendar year. That earned “cash” can then be redeemed at some of the merchants in the Bilt network, at hotels in Bilt’s Travel Portal, for delivery orders, used to purchase upgraded status for Rent Day bonuses, and more.

In addition, over the last several weeks, Bilt has added rewards for home deliveries in partnership with GoPuff, parking (partnering with Metropolis), and announced that its members would have the opportunity to earn rewards on some mortgages, starting in 2026.

What’s Happening

Bilt Rewards has announced several changes to its program over the last few weeks:

• Starting in 2026, Bilt will begin partnering with mortgage lender UWM to allow Bilt members to earn points on their mortgage payments. Few details have been revealed, but it appears that only UWM mortgages will be eligible.
• “Bilt Home Delivery” was launched in partnership with GoPuff. This allows Bilt members to both earn and redeem points on the delivery of various and sundry items from GoPuff’s catalog when placing those orders through the Bilt app.
• “Bilt Neighborhood Parking” was launched in partnership with Metropolis. Bilt Members will earn 1 point per dollar at Metropolis parking locations, and be able to search for (and eventually reserve) parking in the Bilt app. Metropolis locations equipped with “Metropolis Vision” will automatically recognize your vehicle when it arrives and then charge you through the Bilt app when your vehicle leaves.
• Starting January 1st, 2026, Bilt will be doing away with its current system of Milestone Rewards, replacing it with “Bilt Cash.” Members will earn $50 in Bilt Cash for every 25,000 points they earn. They can then redeem that cash at select merchants or for various perks through Bilt’s platform. Again, there’s not much in the way of details, outside of the earning structure.

Quick Thoughts

Bilt long ago dispensed with the notion that it intends to primarily be a travel rewards-earning credit card issuer. Instead, it wants to insert itself as an intermediary into as many types of quotidian monetary transactions as it can, allowing it to collect consumer data and create the opportunity for micro-targeted marketing opportunities that it can then sell to its network of merchants and partners.

For those who want to deepen their engagement with Bilt, adding the ability to earn and redeem points through GoPuff deliveries and parking is undoubtedly a win, assuming that pricing is more or less the same when compared to paying for those services directly.

Bilt has long teased that it would eventually provide the ability to earn points on mortgages; the fact that it’s going to be limited to one lender is disappointing. UWM is a big lender, for sure, but it leaves out the vast majority of us whose mortgages are through another company (unlike the Mesa Homeowners Card, which awards points on your mortgage regardless of the lender). That said, UWM took a $100 million stake in Bilt, so there’s no surprise that it’s only keen to incentivize its own products.

Details are light on what members will be able to do with Bilt Cash, but I do like the simplification of the Milestone Rewards scheme. The previous version was, to use Greg’s words, a “nothingburger.” This new version will be easier to understand and theoretically more rewarding, depending on the (as yet unannounced) details of how redemptions will work.

One thing’s for sure: I can’t fault Bilt for being light on ambition.

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