The Bilt Mastercard is a card that allows users to earn cashback on rent payments, among other categories. The WSJ recently reported that this cashback was actually being bankrolled by Wells Fargo, who is reportedly losing tens of millions of dollars per month. Bilt’s contract with Wells Fargo ends in 2029.
This market resolves NO if the Bilt Mastercard either 1) ceases to exist 2) significantly changes their core business model (for example stops offering rent payments) or 3) significantly alters their services such that a significant portion of their users leave (for example charging a $1k annual fee). I’m also open to hearing other arguments as to why the market may need to resolve NO. Otherwise resolves YES.
I will not trade on this market.
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With the new cards, you can no longer actually charge rent to the card. You can earn points paying rent via Bilt, but you must pay via ACH. This is in addition to having a completely different structure for earning points from rent, two of them now.
(See question 5 in the FAQ: https://newsroom.biltrewards.com/biltcardupdate?lid=9aym22l7uaxn )
Do the changes they announced today not constitute a major change to the program? All existing cards will be converted to standard Wells Fargo cards or cancelled, with existing cardholders being given the opportunity to apply for a new card from a different bank with different perks and features, albeit without a hard pull.
I made a suite of markets for the next Rent Free round: https://manifold.markets/news/bilt-rent-free-oct-1-2025?r=UXVyb2U
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@Quroe Rent day seems too minor of a reason to resolve NO. It's subjective, I wouldn't expect people to want the Bilt CC for rent day promotion.