Bilt Card Retired: What Happens to the Line of Credit?

[PhilL]

If you've been following the news, the Bilt credit card, which allowed its holders to collect points on rent, was retired at the end of last year by the card servicer Wells Fargo after a disagreement with the founder.

Bilt has been pushing its cardholders to apply for their updated card serviced by Wells Fargo, but I have opted not to do so for now.

My LoC with them was previously maxed out. However, I recently entirely paid off my Bilt card, so I have no remaining balance.

What happens to the Line of Credit on a retired card? Do they eventually do away with the LoC? Bilt themselves have been unclear, even when I asked their customer service.

[CreditCuriosity]

Huh can still apply for the Bilt card.

[PhilL]

I guess I'mn asking, will they eventually close out the line of credit, if that makes sense?

[CreditCuriosity]

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@PhilL wrote:

I guess I'mn asking, will they eventually close out the line of credit, if that makes sense?

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Maybe eventually or they will more likely PC (product convert) your card to something else assuming have had ogod history with them and credit is good at time of partnership ending.  Their agreement lasts until some date I am sure that can be googled or someone might weigh in.  I know it has been a money loser for WF big time

[AndySoCal]

@PhilL  Did you have a bolt card issued by one the banks listed in this articlehttps://travel-on-points.com/bilt-cardholder-account-closure/ 

Then there is related to Bilt and Wells Fargo

https://www.forbes.com/advisor/credit-cards/bilt-says-partnership-with-wells-fargo-remains-solid/ 

[PhilL]

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@AndySoCal wrote:

@PhilL  Did you have a bolt card issued by one the banks listed in this articlehttps://travel-on-points.com/bilt-cardholder-account-closure/ 

Then there is related to Bilt and Wells Fargo

https://www.forbes.com/advisor/credit-cards/bilt-says-partnership-with-wells-fargo-remains-solid/ 

Yes, the one I have is issued by Evolve Bank. Even though Bilt officially retired the card on the 31st, a small revolving charge went through on mine.

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[CreditCuriosity]

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@AndySoCal wrote:

@PhilL  Did you have a bolt card issued by one the banks listed in this articlehttps://travel-on-points.com/bilt-cardholder-account-closure/ 

Then there is related to Bilt and Wells Fargo

https://www.forbes.com/advisor/credit-cards/bilt-says-partnership-with-wells-fargo-remains-solid/ 

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Hmm interesting didnt know two different banks issued it at one point