Wells Fargo (WFC) is set to end its credit-card partnership with Bilt that allowed people to earn rewards when they paid rent with their credit cards, The Wall Street Journal reported Thursday, citing people familiar with the matter.
While the partnership with Bilt was scheduled to end in 2029, Wells Fargo decided on an early exit as the venture was costing it millions of dollars a month, the report said.
Separately, Bilt said Thursday that it plans to launch Bilt Card 2.0 in February 2026, and that current cardholders will be moved from Wells Fargo to its new card platform at that time.
Wells Fargo did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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