Bilt rolls out three new cards and will let mortgage holders earn points from Feb. 7

Bilt, the rewards and payments start-up known for letting renters earn points, introduced three new credit cards and a new rewards currency and said mortgage holders can begin earning points on monthly mortgage payments starting Feb. 7. The company added a second form of currency, Bilt cash, which members receive in addition to points; the firm said members get $50 in Bilt cash for every 25,000 Bilt points and that $10 in Bilt cash can be redeemed as a $10 credit inside the platform for services such as Lyft rides or local merchants.

Bilt said a maximum of $100 in Bilt cash can carry over at year end, and the platform said points generally remain redeemable for travel and experiences, with a typical conversion of 1,000 Bilt points equaling 1,000 United Airlines miles. The three new cards — Bilt Palladium (a $495 annual fee), Bilt Obsidian (a $95 fee) and Bilt Blue (no annual fee) — all earn 4 percent in Bilt cash on everyday spending, carry no foreign exchange fees and offer various sign-up bonuses and perks.

The Obsidian card will earn three points per dollar on groceries (up to $25,000 a year) and dining, two points on travel and one point on other spending; the Blue card yields one point per dollar. The company also said it will cap interest rates at 10 percent on new purchases for the first year.

Key Topics

Business, Bilt, Bilt Cash, Bilt Palladium, Bilt Obsidian, Bilt Blue