Bilt card changes: Known knowns, known unknowns, & unknown unknowns

Three new Bilt credit cards will be launched on February 7, 2026 and we’ve been eagerly awaiting details to know how good (or not good) the cards will be.

Over the past week or so, more definitive information has been shared in some areas, while there have also been numerous rumors swirling around. Here’s what we definitely know, as well as what some of the rumors are.

What we know

Richard Kerr of Bilt recently took to Reddit to share some more details about the upcoming three card launch. He confirmed that although the new cards won’t launch until February 7, 2026, the new card details will be revealed on January 14.

On that date, existing cardmembers will be able to select which one – if any – of the cards they wish to have their existing card switched to once the transfer from Wells Fargo to Cardless is processed. You’ll have until January 30 to make that selection if you want to ensure there’s no gap between your Wells Fargo Bilt card being deactivated and your Cardless Bilt card arriving by February 6. Existing cardholders who don’t select a new card to transition to by January 30 won’t get to keep their same card number and they will have a hard pull on their credit.

If you’re not currently a Bilt cardholder but wish to be, you’ll be able to apply for one of the new Bilt cards on January 14 too.

He also confirmed a few other aspects for existed cardholders. For example, your Bilt credit card number will remain the same, there won’t be a hard pull on your credit report, and Google Pay and Apple Pay will automatically update with your new card details.

During the card conversion process online, you’ll be given the opportunity to transfer the balance from your Wells Fargo Bilt card to your Cardless one soon after February 6. You’ll also seemingly be able to specify if you don’t want your Wells Fargo card automatically converted to an Autograph card (which is what’ll happen by default otherwise) and Bilt will liaise with Wells Fargo to prevent that from happening.

As would be expected, there were numerous Redditor comments and Richard replied to many of those. Here are some further details gleaned from those comments and replies:

• Existing cardholders shouldn’t need to unfreeze their credit in order to transition from Wells Fargo to Cardless
• If moving to Cardless, the card will show as a new card on your credit report. That will therefore affect your 5/24 status, could have an impact on mortgage applications, etc.
• Existing cardholders will be able to add authorized users from January 14 after selecting a new card to transition to
• The new Cardless Bilt cards will be Mastercards
• Points will continue to post when transactions post to your account
• If, after the conversion, you return an item that was originally bought on the Wells Fargo Bilt card, the refund will be credited to your Cardless account
• With the new lineup of Bilt cards, you’ll be able to pay both mortgage and any separate HOA fees with your card
• Once you’ve selected a Cardless card (whether transitioning from Wells Fargo or applying new), you won’t be able to product change for the first year
• It won’t be possible to get an immediate credit limit increase with Cardless, but there are plans to make that an option “ASAP”
• Credit limits for existing cardholders could be lower than at present

With regards to that final point, that could definitely be a disappointing development depending on how widespread of an issue that is. That answer came about as a result of the following question:

Have seen this asked a few times without any answer or engagement so here’s a modified version of the question: will existing cardholders’ current credit limits be re-evaluated and have the potential to change upon opting in to BILT 2.0?

The reply from Richard was:

It will be a new issuer and they will make their own decisions. We aim to have similar to higher credit lines for most customers but it will be subject to individual customers’ profiles at the time of conversion

Considering many Bilt cardholders have complained in the past about low credit limits from Wells Fargo, it’ll be a shame if some people see their credit limits reduced further still.

New Bilt card rumors

A couple of days after that Reddit thread began, Doctor of Credit highlighted a separate Reddit thread that listed rumored features of the new Bilt cards:

• Initial offerings will be competitive

• The premium cards will have a SUB, and the no AF card will not

• No AF card will have worse earning unless you have Bilt status, and “will be a heavily nerfed version of the current version”

• Earnings on mortgage will be entire PITI (Principal, Interest, Tax, Insurance), as opposed to just Principal and Interest

• Points earning (on mortgage/rent?) will drop to 0.5 points per $ for no AF card

• Minimum transaction count for points earning to switch to minimum amount of non-rent spend

There’s both good news and bad news there. For those with a mortgage, earning points on the entire PITI will be welcome news.

The fact that it’s rumored that the $95 and $495 annual fee cards will have welcome offers is good news depending on quite how rewarding those will be. Considering Bilt hasn’t offered a signup bonus on the no annual fee card up until now (other than a targeted 5x for your first five days), I’m not expecting the welcome offers to be of a substantial nature, but I’d love to be pleasantly surprised by them launching with a couple of splashy bonuses.

There’s definitely bad news amongst those rumors though. If the new no annual fee Bilt card does turn out to be “a heavily nerfed version of the current version,” that’ll be highly disappointing, especially with no welcome offer attached. If true, it’s presumably being done to ensure people upgrade/apply for the cards with an annual fee, but it could also backfire on them with a lot of negative sentiment, particularly from existing cardholders. With no welcome offer and (presumably) worse earning rates, it seems like there’d be very little reason to hold the no annual fee card which would be a curious choice on their part.

The fact that it’s rumored that Bilt will change from having a minimum transaction count each month in order to earn points on rent (and presumably mortgage) payments to having a minimum non-rent spend requirement is potentially cause for concern too. However, that’ll largely depend on what the spend requirement is. If the non-rent spending requirement is something like a hundred bucks per month, that’s not bad. Something well in excess of that could be off-putting depending on the earning rates of the various cards, not to mention it giving cardholders one more thing to have to remember to do each month.

Other Thoughts

If there are indeed welcome offers on one or more of the new Bilt cards, it might make more sense for existing cardholders to not transition, but to apply for new Bilt card outright instead. Existing cardholders moving to Cardless would have the new card show up on their credit report anyway for 5/24 purposes, so if that’s your main concern, you might as well pick up a welcome offer to go with it (if one is available). That said, bear in mind that moving from Wells Fargo to Cardless doesn’t require a hard pull on your credit, while a new application would. I personally wouldn’t care about having another hard pull, but that is a concern for some people.

That said, perhaps existing cardholders will be offered some kind of sweetener for switching over from Wells Fargo to Cardless. If so, converting your existing card rather than applying for a new one could be a wiser choice. I guess we’ll find out in a couple of weeks.

Your Thoughts

What are your thoughts on the definite new information and the rumors? Let us know in the comments.

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