Bilt Cash Review: Bilt’s 2nd Rewards System – A Very Thick Coupon Book (2026 Update)
Bilt Rewards launched Bilt Cash in late 2025 as the second major way to use points earned through the Bilt Mastercard (the first being Bilt Points for travel, rent, shopping, etc.). The tagline is “cash that feels like cash,” but after several months of real-world use in 2026, many users describe it more accurately as a very thick, high-value coupon book rather than true cash-back.
Here’s a clear, up-to-date breakdown of how Bilt Cash actually works, its real value, and whether it’s worth using.
How Bilt Cash Works (Key Rules in 2026)
- Earn 1 Bilt Point per $1 spent on rent (up to 100,000 points/year) and everyday purchases (no cap).
- You can convert Bilt Points → Bilt Cash at a fixed rate of 1.25 cents per point.
- Bilt Cash lives in a separate wallet inside the Bilt app.
- Redemption options (as of January 2026):
- Statement credits on the Bilt Mastercard (instant)
- Direct deposit to linked bank account (takes 3–7 business days)
- Pay rent with Bilt Cash (counts toward rent day bonuses if done on the 1st)
- Shop at select Bilt Collection partners (Apple, Best Buy, etc.) with boosted value
- Cannot be used for travel redemptions or transferred to airline/hotel partners (that’s reserved for regular Bilt Points).
The “Very Thick Coupon Book” Reality
The biggest catch: Bilt Cash is not flexible cash. It’s essentially a prepaid debit balance locked to specific redemptions. You get the 1.25 cpp conversion, but only if you use it within the allowed channels.
Real-world value examples (2026 pricing):
- Statement credit: 1.25¢ per point → solid
- Direct deposit: 1.25¢ per point → also solid
- Bilt Collection shopping: often 1.5–2.0¢ per point on select items (e.g., Apple products, Best Buy gift cards)
- Rent payment: still earns the monthly Rent Day bonus if used on the 1st
But here’s why many call it a thick coupon book:
- You can’t withdraw it to any debit card or use it anywhere Visa is accepted.
- It expires after 36 months of inactivity (longer than most rewards, but still not forever cash).
- No way to turn it into unrestricted cash outside the Bilt ecosystem.
- The highest value redemptions are still “shop at our partners” deals—classic coupon-book behavior.
Pros of Bilt Cash
- Great 1.25¢ baseline value (beats most cash-back cards on rent spend)
- Can pay rent with it and still get the Rent Day bonus (1x points on 1st of month)
- Direct deposit is actually real money in your bank (not many points programs allow this)
- Pairs beautifully with the Bilt Mastercard’s no-fee rent payments and everyday earning
Cons of Bilt Cash
- Locked to Bilt-controlled redemptions (feels less like cash, more like a gift card)
- No travel transfer partners (unlike regular Bilt Points)
- If you never shop the Bilt Collection or pay rent with it, the value caps at 1.25¢
- Some users report delays or glitches with direct deposit (though improving in 2026)
Bottom Line – Is Bilt Cash Worth Using?
Yes — if you:
- Pay rent with Bilt (maximize Rent Day bonuses)
- Occasionally shop at Bilt Collection partners
- Want to convert excess points into usable cash without losing much value
No — if you:
- Only want unrestricted cash (better off with a flat 2% cash-back card)
- Plan to transfer points to airlines/hotels (keep them as regular Bilt Points)
In short: Bilt Cash is a very thick coupon book with real cash value — not quite free money, but one of the stronger cash-out options in the points world, especially for rent payers.