Financial technology startup Bilt unveiled three new credit cards on Wednesday, offering a 10% APR for the first 12 months in response to President Donald Trump's recent call for a cap on credit card interest rates.
The offer applies to all new purchases and positions Bilt as the first issuer to implement such a measure, even amid concerns from major banks about the potential impact on lending and rewards programs.
"This is a win for renters. This is a win for homeowners. This is a win for Americans," said Ankur Jain, founder and CEO of Bilt.
Jain emphasized that the 10% APR initiative addresses a "bipartisan call for affordability," noting that many people under 40 still live largely paycheck to paycheck despite residing in higher-income areas.
The three-tiered cards — Bilt Palladium, Bilt Obsidian, and Bilt Blue — also offer rewards on rent and mortgage payments, along with perks at local restaurants, fitness studios, pharmacies, and over 100 airline and hotel partners.
Additional benefits include Lyft ride credits and access to airport lounges for higher-tier members.
According to CBS News, the premium Bilt Palladium Card carries a $495 annual fee and delivers two times points on everyday spending, 4% Bilt Cash back, and limited-time sign-up bonuses of 50,000 points and $300 in Bilt Cash, plus $600 in annual credits.
Bilt's 10% credit card cap grabbing headlines, but its just a one-year intro rate *nice timing* before APRs reset much higher. Nothing earth-shattering there and not especially aggressive vs. standard 0% promos from Discover. pic.twitter.com/1TyvuJvDB4
— Neil Sipes (@neil_sipes4) January 14, 2026
Bilt Obsidian Card Offers 4% Cash Back
The Bilt Obsidian Card, priced at $95 per year, offers 4% Bilt Cash back on everyday spending, triple points on grocery and dining purchases up to $25,000 annually, and $200 in Bilt Cash upon approval.
The Bilt Blue Card has no annual fee and gives one times points on everyday spending, 4% Bilt Cash back, and $100 in Bilt Cash for new cardholders.
Bilt partnered with Cardless, Fidem Financial, and Column N.A. to offer these cards, which automatically update on Apple Pay and Google Pay for existing members who select a new card by January 30.
The introductory 10% APR will rise to between 26.74% and 34.74% after the first year, NY Post reported.
Trump's proposal for a 10% credit card rate drew immediate criticism from major banks, including JPMorgan and Citi, which warned that a hard cap could limit credit access, reduce rewards, and hurt the broader economy.
"If it were to happen, it would be very bad for consumers, very bad for the economy," JPMorgan CFO Jeremy Barnum said during the company's earnings call.
Despite these concerns, Bilt leveraged the moment to position its cards as a solution for Americans facing rising living costs.
The company, founded in 2019 and now valued at over $10 billion, allows users to earn points on routine transactions like rent and mortgage payments, providing both practical financial benefits and rewards.
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