Bilt Cash Overview: What You Need to Know in May 2026
NCnextcard team
Advertiser Disclosure: nextcard may receive compensation from card issuers. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain. For the most up-to-date terms & conditions, refer to the official credit card application on the issuer's website.
Existing Bilt Blue, Obsidian and Palladium cardholders with accounts opened before January 1, 2027 (so, everyone reading this article) can “opt out” of the updated card rewards and keep Flexible Bilt Cash. That lets you continue earning 4% back in Bilt Cash on everyday purchases.
We call this earning method “Legacy Opted Out” in the nextcard Bilt calculator.
Open the Bilt app, go to Wallet (bottom right icon)
Scroll down to “Your card rewards.” Under Bonus rewards, tap the sliders icon in the upper-right corner
On the “Card rewards” screen, tap the rewards selection row in the blue banner at the top to open “Choose your rewards.”
Swipe to select “Flexible Bilt Cash.”
Once you click Save, the Bonus rewards should show Flexible Bilt Cash.
If you cannot find the setting, ask Bilt Concierge in the app to help confirm your selection.
Quite a similar flow as mobile all things considered (if not identical)
Navigate to the Bilt wallet page: https://www.bilt.com/wallet
Scroll down to “Your card rewards.” Under Bonus rewards, tap the sliders icon in the upper-right corner
On the “Card rewards” screen, tap the rewards selection row in the blue banner at the top to open “Choose your rewards.”
Select Flexible Bilt Cash on the right
Click Save
You need to opt out before your first card account anniversary in 2027. Otherwise, the updated benefits take effect on that anniversary. Check the date shown in your app or ask Bilt Concierge.
Everyone is automatically assigned the “Updated card rewards.” You must explicitly Opt Out to retain Flexible Bilt Cash.
You get to keep Flexible Bilt Cash, which most people agree is better than Housing Only Rewards (Updated Card Rewards):
Earn 4% back in Bilt Cash on everyday purchases
Keep any applicable Bilt Travel Hotel credits (Obsidian and Palladium cardholders only)
For Bilt Palladium cardholders, that means $200 in annual Bilt Cash and $400 in annual hotel credits, subject to the existing booking requirements.
The catch: after your anniversary, you can no longer switch between the legacy opted out Flexible Bilt Cash and Housing-only modes. You can move to the updated rewards system later, but once you do, you cannot return to legacy Flexible Bilt Cash.
Our general verdict is that most people should keep (soon to be legacy) Flexible Bilt Cash. Why?
Let’s start with the numbers side of this: for a vast majority of people, you’ll earn more rewards with Flexible Bilt Cash. There are absolutely scenarios/cases where the Updated Card Rewards earns more, but that realistically requires a lot of optimization of your spend.
Do you think constantly every month if your nonrent spend is exactly 53% of your rent? I don’t…
That said, the updated new standard rewards system may make more sense if:
Your card spending is low relative to your housing payments. There are several scenarios where automatic housing points come out ahead, including certain spending levels below 75% of housing payments.
You don’t use the hotel credits. With the updated Palladium benefits, the $400 hotel credit and $200 Bilt Cash credit become $600 in annual Bilt Cash instead (which you can use on anything)
You don’t plan on using Bilt Cash at all whatsoever
Everyone’s situation is different, so use the nextcard Bilt calculator to compare your own numbers.
Seeing 4% for your current statement does not confirm your selection for 2027. Check the Card rewards screen for “You’re keeping Flexible Bilt Cash.” If that message is already there, you do not need to select it again.
You must opt out before your first card account anniversary in 2027. Use the date shown in your app or ask Bilt Concierge to confirm it.
Yes. You can move to the updated rewards (the new standard earning method) later. Once you transition, though, you cannot return to Flexible Bilt Cash.
Yes. Flexible Bilt Cash lets you redeem $30 in Bilt Cash to unlock 1,000 Bilt Points on eligible housing payments through Bilt, up to 1x your payment amount. It’s essentially just the same old Flexible Bilt Cash we’re used to.
Yes. Eligible Obsidian and Palladium cardholders retain their existing hotel credits, subject to the applicable booking requirements and usage windows. Palladium cardholders also retain their $200 annual Bilt Cash credit.
Advertiser Disclosure: nextcard may receive compensation from card issuers. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain. For the most up-to-date terms & conditions, refer to the official credit card application on the issuer's website.
