The biggest news in points and miles this week was the release of “Bilt 2.0,” the rewards company’s revamped portfolio of three credit cards. As with most things Bilt does, the reaction from points enthusiasts has been… vigorous. Some folks love it, some hate it, and others are just confused.
Part of Bilt 2.0 is that it’s moving its cards from Wells Fargo to Cardless, the second time in just a couple of years that Bilt has changed issuers. However, this time around, it promised cardholders that the transition would be “seamless.” You’d be able to upgrade without a hard credit inquiry, keep your card number, and transfer your Wells Fargo balance to the new Cardless product.
That’s undoubtedly been the case for many, but we’re seeing a lot of complaints about friction. Some cardholders have seen their credit limits shrink dramatically, some receive repeated error messages, but perhaps the most significant issue is that numerous current cardholders are not even able to get approved for the new cards.
Taking a quick spin through our Facebook group, reddit, and comments on the blog, there are quite literally dozens of complaints from current cardholders about being rejected for Bilt 2.0. These seem to fall in a couple of “denial” buckets: an ID verification issue similar to what we saw with the (now defunct) Mesa Homeowner card, and outright denials with the promise of correspondence to come.
It’s not terribly surprising that there are some hiccups when moving an existing credit card from one bank to another.
Although there’s no hard credit pull, there is a “soft” one. Bilt warned that credit limits may change from one bank to the other, noting that most cardholders would most likely see a credit increase. If Cardless (or the issuing bank Column) is reevaluating credit limits, it only stands to reason that it may decide not to issue any credit at all to some people.
Bilt’s pre-launch communication didn’t really indicate that denials were a possibility, however, so there’s probably some degree of setting overly rosy expectations. That said, I’m surprised at how many denials I’m seeing, and given the experience with Mesa (and its issuing bank), I do wonder if there’s a hitch in the process somewhere.
We’ve reached out to Bilt to get some clarity on what’s going on, but we haven’t heard back yet. If/when we do, we’ll update this post. In the meantime, let us know in the comments if you’re a current Bilt cardholder who’s having issues with the transition to Cardless.
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So some current Bilt cardholders will become cardless. Wonder if that’s why they chose this bank
I’m so disappointed in myself for not thinking of this pun. Bravo!
I got rejected, and the first reason on the list was because I don’t have a mortgage. [clown emoji]
So if you get declined for the new card you can’t still pay your rent – at 3% cost – with another card? Using an Atmos card to earn Alaska miles at a penny each wasn’t a bad deal. It’d be nice to know if that’s still possible and under what circumstances.
Also rejected! Been A BILT cardmember from the early days. FICO in the very high 700’s. Rejected for too many credit inquiries. I don’t think I have a particularly high number of inquiries, but I guess Cardless thinks so.
No problem for me
Rejected. 800 credit score. Have a 19k limit with WF. Low single digit credit utilization %. All balances paid in full monthly. 100% perfect payment history. Rejected for too much outstanding credit.
Im about same as you. Rejected had 20k limit before. Always paid entire balance each month. They can keep the card
They failed to do the one thing I wanted: Pay mortgage with my Atmos Summit card.
(Shaking my goddamn head)
Not sure of anyone who is actually “loving ” the changes
I never applied to 1.0 because as a non renter, I could never make the numbers work. I’m still not sure the mortgage payments are worth it – If I only had 1-2 cards then sure I’d spend enough to get points for my mortgage, but its foregoing so many signup bonuses I’m never going to come out ahead. For a year, sure I’ll check it out but I dont see it as worth an annual fee for me.
Current Bilt Wells Fargo customer. Denied due to ID verification. After 1.5 hours waiting on a chat response, was told need to reapply after 45 days. Not interested in perusing further.
Current Bilt cardholder here — rejected.
My transistion went suprisingly smooth. My credit is frozen so I thought I might have to thaw it but I was approved instantly and went from a 6k to a 35k credit line
Yeah, it’s totally messed up how this Blit conversion is going for everyone i know. At least you already have a current front runner for bonvoyed of the year! I hope FM stops promoting companies like these, it kind of sours the FM reputation.
You can’t compete all year for Bonvoyed of the Year if you don’t start in January.
Not sure exactly what you mean by “promoting,” but we write about credit cards, so as long as Bilt has ’em, we’ll most likely write about ’em, along with all the other various and sundry issuers out there.
I think it’s a reference to promoting Bilt with podcast ads, which I agree with.
FM does paid commercials for Bilt. I think that counts as promoting Bilt.
But you gotta pay the bills, so I don’t hold it against you guys.
No problem here!
Because I’m not taking a Bilt 2.0 card . . .
Stephen has 1 point already in the 2026 predictions.
the Bilt transition is not smooth / seamless .
I am a current Bilt cardholder and was rejected for the new Bilt 2.0.