Bilt Obsidian Card

• **Downgrading soon after the fee posts takes the welcome bonus back.** If you move from the Obsidian to the Bilt Blue within 30 days after the annual fee posts, Bilt reverses the Obsidian welcome bonus Bilt Cash and issues the Blue welcome bonus in its place, so your Bilt Cash balance can go negative. Any annual credit you already used, including the hotel credit, is charged back to your card account. After 30 days nothing is reversed, and your credits step down at your next anniversary. You get one voluntary upgrade or downgrade in any rolling 12 months.

The Bilt Obsidian steps up Bilt Card 2.0 for $95 a year: 3X points on your choice of dining or groceries (groceries capped at $25,000 a year), 2X on travel, and 1X on everything else, plus the fee-free rent and mortgage payments that define the lineup. A $100 annual Bilt Travel hotel credit helps offset the fee, and the card opens with $200 in Bilt Cash after approval, no spending required. Bilt Cash is not the same as Bilt Points: it is a credit you spend with Bilt partners like Lyft, Grubhub, Bilt Travel, and Walgreens, it can't be transferred to airline or hotel partners, and it expires December 31 each year with up to $100 rolling into the next year. If you choose the Flexible Bilt Cash option, you earn 4% back in Bilt Cash on eligible everyday spending (not rent or mortgage) on top of your normal points. If you choose Housing only instead, you keep your normal points but give up the 4% Bilt Cash and earn up to 1.25X points on rent and mortgage. Housing only is the default unless you pick Flexible Bilt Cash when you onboard. You also get trip delay insurance and no foreign transaction fees, and Bilt Points transfer to most airline and hotel partners at 1:1, with Accor at 3:2 and I Prefer Hotel Rewards at 1:2. The sweet spot for renters and homeowners who spend enough on dining and travel to clear the modest fee.