In July 2025, Bilt announced plans to make major changes to its credit card portfolio, which includes working with a new issuer, and going from having one co-branded card, to having three co-branded cards. While there are still more questions than answers, the airline has just revealed some more details about the timeline for the changes, and how the transition will work.
Major Bilt credit card changes coming February 2026
Bilt will be completely overhauling its credit card portfolio as of February 7, 2026, with the introduction of what’s being called Bilt Card 2.0:
- Bilt will be transitioning from Wells Fargo to Cardless, and existing cardmembers will be seamlessly moved to the new platform, with the card numbers staying the same, digital wallets auto-updating, and no hard credit inquiries
- Those who choose to transition to the new Bilt Card 2.0 will be able to transfer any balance from their old account, with a soft credit pull; alternatively, they can close their account, or keep a Wells Fargo account, with the card becoming an Autograph Visa card with a different card number
- We’ll see the introduction of three Cardless cards at three price points — a no annual fee card, a $95 annual fee card, and a $495 annual fee card
The existing Bilt Mastercard will be discontinued for new applicants as of today (November 5, 2025). Current cardmembers can continue to use their existing Wells Fargo cards as before through February 6, 2026, and all points and membership details will remain the same.
The full details of the new card portfolio are expected to be announced in January 2026. That’s a mighty long time to wait, because back during the July 2025 announcement, Bilt claimed it would share details about the card value propositions in early fall 2025. Obviously that didn’t happen.
My take on these Bilt credit card changes
As of now there are a lot more questions than answers about what the card value propositions will look like. We know that the no annual fee card will reportedly continue to offer points for rent, though it remains to be seen what restrictions will be associated with that.
When Bilt surveyed credit card changes in early 2025, the incremental value proposition of the more premium cards was minimal, so I’m curious to see what the end product looks like.
While Bilt has an absolutely massive valuation and is much more than just a credit card issuer, there’s no denying that Bilt has had issues with the profitability of its credit card partnerships. Roughly a year ago, we learned how Wells Fargo was reportedly losing around $10 million per month on Bilt.
For those of us into maximizing points, the best thing about Bilt is that you can earn points for paying your rent at no fee, as long as you make at least five transactions per billing cycle. So in order to fund the rewards for rent, Wells Fargo was counting on a certain percent of purchase volume being for non-rent expenses.
Wells Fargo had reportedly expected that around 65% of purchases would be for non-rent transactions, but the inverse ended up being true. So we’ve known that Bilt was looking for a new credit card partner, since the current relationship isn’t going well, and Wells Fargo was looking for an out.
This is a huge win for Cardless in terms of market share and exposure. For those not familiar, Cardless is a fintech company that prides itself in quickly launching co-branded credit cards. This is without a doubt the biggest agreement the company has had to date.
The question is, can Cardless find a way to actually make this partnership profitable, and if so, how? I’m curious to see how this all plays out. Like I said, there are more questions than answers.
Bottom line
Bilt has announced major changes to its credit card portfolio, which will kick in as of February 7, 2026. The company will be transitioning from Wells Fargo to Cardless. Along with this, we’ll see the introduction of three credit cards, including a no annual fee card, a $95 annual fee card, and a $495 annual fee card.
We’ll only learn the details of the new card value propositions in January 2026. For now we just know how the transition will work, and that the existing Bilt Mastercard is being discontinued for new applicants as of today.
What do you make of these Bilt credit card changes?
