Bilt Obsidian vs PayPal Cashback Mastercard
Side-by-side comparison
| Bilt Obsidian | PayPal Cashback Mastercard | |
|---|---|---|
| Annual fee | $95 | No annual fee |
| Welcome offer | $200 in Bilt Cash on account opening | No current offer |
| Dining | 3x | 1.5x |
| Groceries | 3x | 1.5x |
| Gas | 1x | 1.5x |
| Travel | 2x | 1.5x |
| Streaming | 1x | 1.5x |
| Everything else | 1x | 1.5x |
| Est. yearly rewards* | $490 | $437 |
| Points type | Transfers to airlines & hotels | Cash back only |
| Network | Mastercard | Mastercard |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified June 2026. See your own numbers in the calculator.
The verdict
On a typical year of household spending, the Bilt Obsidian earns about $490 a year in rewards and the PayPal Cashback Mastercard about $437, valuing every point at a flat 1 cent. The Bilt Obsidian charges $95, but carries about $300 in annual statement credits that offset it for anyone who uses them. The PayPal Cashback Mastercard has no annual fee, so its rewards are all profit. Counting rewards, fees, and any credits, the Bilt Obsidian delivers more total value, about $107 a year more for a typical spender, mostly because it earns more where you spend most, on groceries and dining. The bigger difference is the ceiling: the Bilt Obsidian earns points you can move to travel partners for outsized value, while the PayPal Cashback Mastercard pays plain cash back. Favor the Bilt Obsidian if you will use travel transfers, the PayPal Cashback Mastercard if you want simplicity. On the sign-up bonus, the Bilt Obsidian currently has the larger welcome offer. A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the Bilt Obsidian if your spending leans toward dining, groceries, travel. Pick the PayPal Cashback Mastercard if your spending leans toward gas, streaming, everything else.