Details
Written by: RJ
BILT Rewards has raised $250 million in primary funding, placing BILT at a $10.75 billion valuation. Additionally, BILT will have a new credit card partner to help them launch a few new card tiers.
- Leaving Wells Fargo for Cardless
- Adding new credit cards
- No annual fee
- $95 annual fee
- $495 annual fee
No further details on the cards, aside from being set to launch sometime in 2026.
Thoughts
The current Wells Fargo deal was set through 2029. We’ve covered past reports of Wells Fargo losing millions in this partnership. Given the latest capital raise, this makes sense. Along with the previous card surveys and BILTs intentions to expand into mortgages.
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Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.