"As Americans struggle with an affordability crisis-high inflation and an even higher cost of living, especially when it comes to housing- Bilt is launching three new, low interest credit cards with rates capped at 10% on new purchases for the first year-including a premium card offering with a $495 annual fee. The Bilt Card 2.0 series launches next month on February 7."
""Between now and January 30, existing cardholders will be able to seamlessly transition and pre-order a new Bilt Card in their Bilt account or online," according to a statement on the company's website. "There is clearly a need for affordability at this point in time more than ever," Bilt chief executive officer Ankur Jain said in an interview with Bloomberg. "It felt like we should be the brand to do this.""
"Bilt cards offer mortgage and rent payments rewards, unlike many credit cards that focus on, say, travel or merchandise points. What this means is Bilt customers earn rewards just for paying their rent and mortgage bills."
Bilt is introducing three new low-interest credit cards called the Bilt Card 2.0 series, which launch on February 7 and include a premium option with a $495 annual fee. Existing cardholders can transition and pre-order new cards between now and January 30 through their Bilt accounts or online. The company positions the launch as a response to affordability pressures, with CEO Ankur Jain emphasizing the need for affordability. The move aligns with calls for a one-year, 10% cap on credit card interest rates and attention to the Credit Card Competition Act. Bilt cards uniquely reward mortgage and rent payments, allowing customers to earn points for paying housing bills.
Read at Fast Company
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