Has been confirmed by Richard Kerr from Bilt on reddit that if one chooses to migrate to the Bilt 2.0 card, it will indeed show up as a new trade line on your credit report.
This shouldn't affect 5/24 or other calculations. While there will be a new trade line with the credit bureaus, the opening date should be backdated to whenever you first opened the Wells Fargo issued Bilt card. The existing trade line with Wells Fargo will show as a closure due to the card being transferred/sold to a new issuer.
Originally Posted by
Dr Jabadski
Will Wells Fargo (still) be the bank for Bilt 2.0?
No. The new issuer is Cardless.
We have the option of staying with Wells Fargo and migrating to an Autograph card. I'm wondering if there is any advantage to doing this? While Wells Fargo allows product changes, they don't have much in the way of a compelling card lineup. I have a decent credit limit on the Bilt card, but Cardless doesn't seem to allow product changes.