The World of Hyatt® rewards program is one of the most valuable rewards programs you can join.

With as little as 3,500 points, World of Hyatt members can book free nights at Hyatt brand locations around the world. World of Hyatt is free to join and offers lots of ways to earn and use points.

Plus, members can qualify for additional in-hotel benefits with Milestone Rewards and Hyatt Elite status.

Here’s everything you need to know about maximizing World of Hyatt rewards.

How to earn World of Hyatt points

The best way to earn World of Hyatt points is with the World Of Hyatt Credit Card. But members can also earn points when they spend money at Hyatt hotels and resorts or with one of Hyatt’s travel partners.

Plus, cardholders automatically receive World of Hyatt Discoverist elite status.

Let’s take a closer look at each option.

Use the World Of Hyatt Credit Card

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World Of Hyatt Credit Card

World Of Hyatt Credit Card

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The World Of Hyatt Credit Card offers cardholders points for Hyatt stays, dining, flights and more. Here’s how you can earn points with the card.

• Hyatt hotel stays — You’ll earn 5 points per $1 spent just for being a World of Hyatt member, plus an additional 4 bonus points for every $1 spent at Hyatt hotels and other participating locations. This makes 9 total points per $1 spent every time you stay at Hyatt.
• Dining out — Eating at eligible restaurants earns you 2 bonus points per $1 spent.
• Flights — Purchase tickets directly from the airline to earn 2 bonus points per $1 spent.
• Transportation — Using your card to pay for transit, tolls and rideshares earns you 2 bonus points per $1 spent.
• Gym memberships — Pay for gym membership dues with your card to get 2 bonus points for every $1 spent.
• Everyday expenses — You’ll get 2 bonus point per $1 spent on all other eligible purchases on up to $15,000 in the first six months, after which you’ll earn 1 point per $1.

It also comes with a sign-up bonus: You’ll earn 30,000 bonus points by spending $3,000 in purchases during your first 3 months after account opening. Plus, you can collect up to 30,000 more bonus points by earning two bonus points per $1 (on up to $15,000 spent) during the first six months you have the card.

The card does have a $95 annual fee, but you can offset this with an annual free night in a hotel, which you’ll earn every year on your card member anniversary. Plus, you can get an extra free night if you spend $15,000 on the card in a calendar year.

Stay or meet up at a hotel

Even if you don’t have the World Of Hyatt Credit Card, you’ll still earn five base points per $1 spent at Hyatt properties. This also includes purchases made with dining and spa services, plus stays at participating Small Luxury Hotels of the World and MGM resorts.

And if you plan to have a meeting or event at a Hyatt location, you’ll earn one bonus point for every $1 spent, up to a maximum of 50,000 bonus points.

Spend money with travel partners

World of Hyatt members can earn one bonus point for every $1 spent on American Airlines flights by linking their World of Hyatt and American Airlines AAdvantage® accounts.

Other ways to earn World of Hyatt points through travel partners include …

• Earning miles with airline partners — Choose from more than 25 airline partners to transfer the points you’ve earned with qualifying stays at participating Hyatt hotels and resorts.
• Renting a car with Avis — Earn up to 500 bonus points and receive a 25% discount off base rates.
• Booking an experience — Earn 5 base points per $1 spent, plus credit toward Hyatt Elite status and a $250 on-board credit, when you book an international Lindblad experience. Or you can earn 10 base points per $1 spent when you choose from one of more than 200 eligible Find experiences.

Transfer points

Hyatt is a Chase Ultimate Rewards travel partner. So you can transfer your Ultimate Rewards points into a World of Hyatt account at a 1:1 value. That’s a huge perk if you happen to own one of the Chase credit cards that earns Ultimate Rewards points.

How to redeem World of Hyatt points

Credit Karma has given the World of Hyatt rewards program a valuation of 1.53 cents per point.

But to maximize the value of your points, you’ll want to be careful how you choose to redeem them. For example, your points are likely to go much farther if you use them to book a hotel stay than if you transfer them to an airline partner.

Let’s take a closer look at your redemption options.

1. Redeem your points for free nights at any Hyatt location

The award chart breaks down how many points you’ll need to book an award night at a participating hotel. But here are a few things that are important to know to help you maximize your points.

• Award nights are categorized as off-peak, standard and peak.
• You can choose from Category 1 through Category 8 properties.
• There are four room types, including standard, club, standard suite and premium suite.

The number of points you’ll need to use for an award night will depend on the date you want to book, the category of the hotel and the type of room.

You can also opt to combine points with cash to book a room — or use your points for a room upgrade (for a room booked with cash).

2. Get perks with Milestone Rewards

As a World of Hyatt member, you can earn Milestone Rewards based on the number of nights you stay each year. To start using these rewards, you’ll have to stay a minimum of 20 nights or earn 35,000 base points within the calendar year.

With Milestone Rewards, you can get extras like lounge access, Hyatt gift cards, suite upgrades and bonus points.

3. Transfer your points

World of Hyatt allows members to transfer their points to more than 25 airline partners. But you’ll only receive 500 miles for every 1,250 points that you convert (a 2.5:1 ratio). And a minimum of 5,000 points must be transferred per conversion request.

Members can also redeem their points for Avis rental car certificates. For each 6,000 points that are redeemed, you’ll receive one free day for an intermediate-size car.

4. Treat yourself to a meal, spa or other perks

If you’re looking to indulge in a meal or spa treatment, you can redeem your points for dining and spa treatments at participating locations. And you don’t have to be a hotel guest to use them.

You can also cash in your points at checkout when staying at participating locations for extras like in-room movies and parking.

But you’ll need at least 1,000 World of Hyatt reward points ($10 credit) to qualify.

5. Host a meeting or event

If you’re planning to book a meeting or event at a participating location, you can put your World of Hyatt points toward the cost as a meeting credit. But you’ll need at least 15,000 points to earn a $200 credit.

6. Share your points

If you have a friend or family member who’s also a World of Hyatt member, you can transfer your bonus points and eligible rewards — like free hotel nights, points plus cash and room upgrades — to their account. This could be a great gift option for someone special in your life who loves to travel.

Next steps

As you earn points or book stays, you’ll also have the chance to move up World of Hyatt’s Elite status tiers. There are three tiers beyond basic membership, but to qualify for any of the Elite status tiers, you’ll have to earn the following:

• Discoverist — 25,000 base points, 5 nights, 3 meetings or events or have the World Of Hyatt Credit Card
• Explorist — 50,000 base points, 30 nights or 10 meetings and events
• Globalist — 100,000 base points, 60 nights or 20 meetings and events

To learn more about what each tier offers, check out our guide to Hyatt Elite status.

This offer is no longer available on our site: U.S. Bank Cash+™ Visa Signature® Card

Pros

• Hassle-free bonus cash back rewards
• Generous introductory APR offers
• Multiple ways to redeem points
• No annual fee

Cons

• Earning caps on bonus categories
• Low sign-up bonus
• Foreign transaction fee

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Citi Custom Cash® Card

Citi Custom Cash® Card

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5 things you should know about the Citi Custom Cash® Card

The Citi Custom Cash® Card offers simplicity of use with a 5% earnings potential that’s typically reserved for rotating bonus cards.

If you’re considering this card, here are five things you should know.

1. 5% cash back on autopilot

With the Citi Custom Cash® Card, you don’t have to worry about tracking bonus categories or stopping at specific stores to earn ThankYou® Points.

Instead, you’ll earn 5% cash back on whichever eligible spending category was your highest during your monthly billing period — on up to the first $500 spent. Eligible 5% bonus categories include restaurants, gas stations, grocery stores, drugstores, home improvement stores, select travel and transit, gyms and entertainment. You’ll earn unlimited 1% cash back on all purchases, as well as on purchases in your bonus category after you’ve hit the spending cap.

2. Introductory APR and welcome bonus offers

You’ll receive an intro 0% APR on purchases for the first 15 months from account opening, and on balance transfers for 15 months from the date of your first balance transfer. That could come in handy if you’re looking to finance a large, one-time purchase in addition to earning ongoing cash back.

To qualify for the intro rate, balance transfers must be completed within four months of account opening. And you’ll have to pay a balance transfer fee of 5% (minimum $5).

After the introductory period, the variable APR for both purchases and balance transfers rises to a variable 19.24% - 29.24%.

New cardholders may also qualify for a $200 cash back sign-up bonus after spending at least $1,500 on purchases within the first 6 months with the card.

3. Flexible redemption options

There are multiple ways you can redeem the ThankYou Points you earn with Citi Custom Cash® Card, including for gift cards, travel or shopping with points at retailers like Amazon.com. You can also redeem your points for cash through direct deposit, check or a statement credit. There are no minimum redemptions when you choose cash redemption through direct deposit or statement credit.

4. No annual fee

Like some other cash back cards, Citi Custom Cash® Card doesn’t charge an annual fee. But there’s a 3% foreign transaction fee. So if you do a lot of traveling abroad, you may want to look for a different rewards card.

5. No unlimited bonus categories

A couple of other cash back cards offer unlimited cash back categories on top of rotating quarterly bonus categories, but you won’t find that with the Citi Custom Cash® Card.

Instead, every purchase outside of your single bonus category each billing cycle earns just 1%. This means that your maximum cash back at the bonus rate will be capped at $25 per month and $75 per quarter.

Other card details to know

The Citi Custom Cash® Card doesn’t come with extra perks, but here are a couple of other things worth noting.

• Citi Entertainment — As a cardholder, you’ll get special access (including pre-sale tickets) for live concerts, sporting events, culinary experiences, and more.
• Contactless payments — The card is contactless-chip enabled, which means that cardholders can make safe and secure in-person purchases without having to touch a payment terminal.
• Free FICO® score — Getting monthly access to your FICO score is nice. But it probably shouldn’t be one of your top reasons for picking a credit card as there are several other ways to check your credit scores and reports for free.

Who this card is good for

The Citi Custom Cash® Card could be a solid option if you don’t want to spend time tracking bonus categories and are looking for a straightforward way to earn up to $300 in bonus cash per year. But if you’re looking to maximize the amount of cash you can earn through unlimited bonus categories, other cards may have the potential to be more valuable.

Not sure this is the card for you? Consider these alternatives.

Here’s a couple of other cards to consider if the Citi Custom Cash® Card won’t work for your needs.

• Discover it® Cash Back: If you’re looking for a generous welcome bonus offer, this card is worth checking out.
• U.S. Bank Cash+™ Visa Signature® Card: This card could be a great fit if you’re looking for a way to earn cash back on a hefty cell phone bill.

Wyndham Rewards is a valuable program for travelers who frequently stay at Wyndham hotel brands and want to earn Wyndham Rewards points that can be used toward hotel stays and other perks.

All Wyndham Rewards members receive special member rates and in-hotel perks such as free Wi-Fi. And by using one of the Wyndham Rewards credit cards, it’s easy to turn everyday purchases into premium rewards points.

Once you’ve earned Wyndham Rewards points, they can be redeemed for award stays starting at 7,500 points or for discounted nights starting at just 1,500 points. Or you can choose from a variety of additional redemption options, including transfers to partner airlines.

Here’s what else you need to know about the Wyndham Rewards program.

• How to earn Wyndham Rewards points
• How to redeem Wyndham Rewards points
• Next steps

How to earn Wyndham Rewards points

Ways to earn Wyndham Rewards points include staying at participating properties, buying products online on Wyndham’s shopping portal, booking Avis car rentals and more. But the quickest way to earn Wyndham Rewards points is with a credit card.

Here are the three co-branded credit cards that Wyndham offers:

• Wyndham Rewards Earner® Card
• Wyndham Rewards Earner® Plus Card
• Wyndham Rewards Earner® Business Card

Let’s break down what each Wyndham credit card has to offer to help you decide which one might serve you best.

Wyndham Rewards Earner® Card: Best for cost-conscious travelers who want to avoid fees

The Wyndham Rewards Earner® Card could be a great option if you’re not interested in adding any extra credit card fees to your life. This card has no annual fee. And like the Wyndham Rewards Earner® Plus Card and Wyndham Rewards Earner® Business Card, it doesn’t charge any foreign transaction fees.

Wyndham Rewards Earner® Card members earn five points for every $1 they spend at Wyndham hotels or gas stations. They also earn two points per $1 they spend at eligible restaurants and grocery stores and one point on everything else.

This card offers a sign-up bonus of 30,000 bonus points after you spend $1,000 on purchases within your first 90 days with the card.

Wyndham Rewards Earner® Plus Card: Best for big spenders who want to maximize their rewards

If you plan to spend a little more on your hotel credit card, you might want to opt for the Wyndham Rewards Earner® Plus credit card. While this card charges a $75 annual fee, you may more than make up for that cost in extra earned rewards.

The bonus categories for the Wyndham Rewards Earner® Plus Card are more generous. For example, you’ll earn four points per $1 spent at grocery stores and restaurants, which is twice what you’d receive with the Wyndham Rewards Earner® Card. You’ll also earn six points per $1 spent on fuel purchases and at Wyndham properties.

The available sign-up bonus for the Wyndham Earner® Plus is also more lucrative. You can earn 45,000 bonus points after you spend $1,000 on purchases within the first 90 days of account opening.

Wyndham Rewards Earner® Business Card: Best for business owners who want to earn points on company expenses

If you own a small business, the Wyndham Rewards Earner® Business Card might be the right card for you. Cardholders earn five Wyndham Rewards points per $1 spent on qualifying advertising, marketing and utility purchases. Plus, the Wyndham Earner® Business Card earns the most on Wyndham stays and gas expenses at eight points per $1 spent.

This card charges a $95 annual fee. But the actual cost of owning it is offset by the 15,000 bonus points that cardholders receive each anniversary year. And the Wyndham Rewards Earner® Business Card offers 45,000 bonus points after you spend $1,000 on purchases within 90 days of account opening.

How to redeem Wyndham Rewards points

The actual value that you can get from your Wyndham Rewards points will depend largely on how you choose to redeem them. Here are a few of your best options.

1. Redeem your points for a free stay starting at 7,500 points

There are two main ways to use Wyndham Rewards points for stays. With the first choice, which Wyndham calls go free®, you use your points to book a completely free night. These awards can be used at any of Wyndham’s 20 hotel brands, which include the following:

• AmericInn
• Baymont
• Days Inn
• Dazzler
• Dolce Hotels
• Esplendor
• Hawthorn Suites
• Howard Johnson
• La Quinta
• Microtel
• Ramada
• Registry Collection Hotels
• Super 8
• Trademark Collection
• Travelodge
• Tryp
• Wingate
• Wyndham
• Wyndham Garden
• Wyndham Grand

For its hotels, Wyndham has three go free® night tiers: 7,500, 15,000, or 30,000 per bedroom. Resorts and vacation rental award stays, meanwhile, range from 15,000 to 30,000 points. 

Getting one of Wyndham’s co-branded credit cards is a great way to maximize your points as you’ll receive a 10% redemption discount on go free® stays. This means that as a cardholder, you could actually redeem your points for free nights starting at 6,750 points.

2. Use fewer points to book a discounted night

If you don’t have enough points for a go free® night, you can still book a discounted stay with go fast® for just 1,500, 3,000, or 6,000 points per night. We ran some hypothetical tests and found that the value you can get for your points with these nights can vary widely depending on where and when you’re booking — from 0.82 cents per point to 1.4 cents per point.

So if you’re looking to maximize your go fast® redemptions, be sure to check multiple hotels and dates.

3. Transfer your points to United Airlines and book an airline ticket

Wyndham Rewards will allow you to move your points over to 10 different partner loyalty programs starting at 6,000 points. Notable options include United MileagePlus, American Airline AAdvantage and FrontierMiles.

But don’t be surprised if the transfer ratios are low. For example, 6,000 Wyndham Rewards points convert to only 1,200 United MileagePlus miles. Still, a points transfer could be worth considering if you only need a few more airline miles to book a free flight.

4. Buy a gift card or merchandise with your points

On the Wyndham Rewards online shopping portal, members can use their points to purchase gift cards from major restaurants and stores like Starbucks and Amazon. You can also buy products from several well-known brands.

Unfortunately, we found that you’ll generally only get about 0.33 to 0.37 cents in value out of your points if you redeem them for gift cards. And it’s difficult to gauge what you’re getting for your points when you redeem them for merchandise as the Wyndham Rewards shopping portal doesn’t show the cash prices for any of its available products.

For these reasons, we only recommend using your points for shopping as a last resort — such as to avoid losing them to expiration. The good news is that your Wyndham Rewards points won’t expire until four years after you earn them (or after 18 months of account inactivity), which gives you a fairly long time to use them toward a stay instead.

5. Donate your points to Save the Children or other charities

For some people, maximizing their hotel rewards points might include using a portion of them to do social good. That’s easy with Wyndham Rewards as it partners with more than a dozen charitable organizations including Save the Children, Fisher House and Clean the World Foundation. Redemptions for charitable donations start at 500 points.

Next steps

If you’re interested in opening a free Wyndham Rewards account, the next step is learning about the various elite status levels Wyndham offers, so you can take advantage of perks like enhanced room upgrades, priority check-in and late checkouts.

Earning Wyndham Rewards elite status could extend your stay with early check-ins and late checkouts — and make it extra comfortable with complimentary room upgrades.

• Does Wyndham Rewards have a status match with other hotel loyalty programs?
• At a glance: Wyndham Rewards levels
• Wyndham Rewards Gold Status
• Wyndham Rewards Platinum Status
• Wyndham Rewards Diamond Status
• Which Wyndham Rewards status is right for me?
• Wyndham Rewards credit cards

Does Wyndham Rewards have a status match with other hotel loyalty programs?

If you’re a Caesars Rewards® member who has achieved Platinum, Diamond or Seven Stars status, you can apply to match your status to an equivalent

Wyndham Rewards points member level. Here’s how the status levels translate.

In the past, Wyndham Rewards would also match the statuses of several hotel rewards programs through the Wyndham Rewards Status Match program. Eligible loyalty programs for the Wyndham Status Match included …

• Marriott Bonvoy
• Starwood Preferred Guest
• Hilton Honors
• Choice Privileges
• Best Western
• World of Hyatt
• IHG
• Radisson Rewards
• Omni Select Guest

But the Wyndham Rewards Status Match program isn’t currently being offered, and new applications aren’t being accepted. Wyndham encourages members to “check back soon” to see when the status match program will become available again.

At a glance: Wyndham Rewards levels

Wyndham Rewards features three status levels that you can earn beyond its basic Blue membership. Here’s how they compare.

Wyndham Rewards Gold Status

What does Gold status get you?

Wyndham Rewards Gold members can earn 11 points for every $1 they spend on eligible purchases at eligible Wyndham properties (10 base points plus a 10% bonus on all base points earned).

In addition to the perks included with Wyndham’s basic Blue membership (which includes free Wi-Fi), you’ll be able to request a late checkout at participating hotels. With this benefit, you can enjoy your room and hotel amenities for up to an additional two hours beyond the standard checkout time.

Beyond the late-checkout privileges, the most notable perk of reaching the Gold level is that you can request a preferred room. Note that this is not the same as a room upgrade as your preferred room choice must be in the same category as the one you originally booked. But this benefit could get you a room with a better location or view.

How do I qualify for Gold?

If you have the Wyndham Rewards Earner® Card, you’ll receive complimentary Gold status. The card also has no annual fee and comes with a sign-up bonus of 30,000 points after spending $1,000 on purchases in the first 90 days after account opening, which could be redeemed for up to four free award nights.

Qualified stay thresholds for all Wyndham Rewards elite status levels have been lowered for 2021. So if you don’t want to get the credit card, you can also qualify for Wyndham Rewards Gold status by staying a minimum of three nights at Wyndham hotels during a calendar year.

Wyndham Rewards Platinum Status

What does Platinum status get you?

Wyndham Rewards Platinum members can earn 11.5 points for every $1 they spend on eligible purchases at Wyndham properties (10 base points plus a 15% bonus on all base points earned).

On top of what you get as a Gold member, you’ll receive an early check-in benefit. This perk could give you the option to start relaxing in your room or at the pool as early as two hours before the hotel’s regular check-in time.

Platinum members can also get free car rental upgrades at participating Avis and Budget locations. And by taking advantage of Caesars Rewards Status Match, you can enjoy special benefits at 30+ Caesars Entertainment casinos.

How do I qualify for Platinum?

One way to qualify for Wyndham Rewards Platinum status is to stay a minimum of nine nights at Wyndham hotels during a calendar year. You can also use qualifying nights that were earned in prior years. Rollover nights never leave your account until they’ve been applied toward achieving a member level.

You’ll also receive complimentary Platinum status with the Wyndham Rewards Earner® Plus Credit Card. You can earn 45,000 bonus points after spending $1,000 on purchases during your first 90 days with the Wyndham Rewards Earner® Plus card, which could be enough for up to six free nights.

Wyndham Rewards Diamond Status

What does Diamond status get you?

Wyndham Rewards Diamond members can earn 12 points for every $1 they spend on eligible purchases at Wyndham properties (10 base points plus a 20% bonus on all base points earned).

In addition to the Platinum benefits, you’ll receive an automatic suite upgrade (subject to availability) every time you book a room in advance at a participating hotel. And this valuable perk even applies to award stays.

Diamond members also receive a complimentary snack or beverage at check-in. And with the “Give Gold” perk, they can gift one Gold-level membership per year to a family member or friend.

How do I qualify for Diamond?

To qualify for Wyndham Diamond status, you could stay a minimum of 24 nights at Wyndham hotels. Once again, rollover nights (which never expire) can help you reach this requirement. If you’re a small-business owner, you may be able to get the Wyndham Earner® Business Card, which comes with automatic Diamond status. Cardholders earn five points per $1 on marketing, utility and advertising expenses. And new cardholders can earn 45,000 bonus points after spending $1,000 on purchases within 90 days of account opening.

Which Wyndham Rewards status is right for me?

If you’re a frequent guest at Wyndham properties, you could earn free nights and receive more in-hotel benefits by joining Wyndham Rewards. Once you’ve become a member, here’s how to decide which elite level would serve you best.

If you’d like to end your stay a bit later …

Gold, Platinum and Diamond members are all eligible for late checkout, and the two-hour maximum is the same at all levels. So if you’re looking to get a couple of extra hours of sleep or sun during your stays, the easiest way to get there would be to earn Wyndham Gold status.

If you’d like to start your stay a bit earlier …

Once you reach Platinum status, you’ll be able to request an early check-in up to two hours ahead of the scheduled check-in time. Diamond membership doesn’t add any extra value to this perk, so Platinum membership is sufficient to receive full early check-in privileges.

If you’d like a nicer room throughout your stay …

Gold and Platinum members can ask for a preferred room, such as one that’s located on a higher floor or further away from the elevator. Just keep in mind that the new room would need to be within the same room type category. But if you’d like to receive free suite upgrades, you’ll need Diamond status.

Wyndham Rewards credit cards

If you’re looking for a shortcut to elite status, you might want to take a look at one of these Wyndham Rewards credit cards.

• Best for Gold status: Wyndham Rewards Earner® Card
• Best for Platinum status: Wyndham Rewards Earner® Plus Card
• Best for Diamond status: Wyndham Rewards Earner® Business Card

When members of the World of Hyatt rewards program reach higher elite status levels, they can earn more points per stay and may become eligible for extra benefits such as late checkouts and room upgrades.

• At a glance: World of Hyatt levels
• World of Hyatt membership
• World of Hyatt Discoverist
• World of Hyatt Explorist
• World of Hyatt Globalist
• Which World of Hyatt status is right for me?
• World of Hyatt credit cards

At a glance: World of Hyatt levels

World of Hyatt® features three status levels that you can earn beyond the basic membership. Here’s how they compare.

World of Hyatt membership

It’s free to join the World of Hyatt rewards program as a member at the base level to begin earning points and accessing member rates.

World of Hyatt members earn five points per $1 spent on Hyatt stays and other eligible purchases at Hyatt properties, such as at hotel restaurants and spas.

You can redeem points for free nights starting at 3,500 points, and there are no blackout dates. Other redemption options include room upgrades, dining and spa credits and Avis car rental awards. You can also transfer points to a loyalty program for one of Hyatt’s airline partners.

World of Hyatt Discoverist

What does Discoverist status get you?

World of Hyatt Discoverist members can earn five points for every $1 they spend on eligible purchases at Hyatt properties — that’s five base points plus a 10% bonus on all points earned.

One of the biggest benefits of Discoverist status is that it qualifies you to check out as late as 2 p.m. for free. But it’s worth noting that these late checkout privileges may be subject to each hotel’s availability and are not offered at Hyatt Residence Club resorts.

At check-in, Discoverist members may also be offered a preferred room, which means you may receive a room on a higher floor or one with a more desirable view. But you won’t be offered a room with a higher price point, so it’s technically not an upgrade. And if you’re planning to stay at Caption by Hyatt, Hyatt Place, Hyatt House, Destination by Hyatt Residences or Hyatt Vacation Club hotels and resorts, you won’t be able to get this perk.

Discoverist members may also receive free premium internet, which could be important if you’re planning on putting in some screen time during your stay. And if you’re an AAdvantage® member, you can link your loyalty accounts to begin earning one World of Hyatt Bonus Point for every $1 you spend on eligible American Airlines’ flights.

How do I qualify for Discoverist status?

To qualify for Discoverist status, you’ll need to stay a minimum of 10 qualifying nights at a participating Hyatt location, earn 25,000 base points during the calendar year, or hold three meetings or events at a qualifying location.

And if you’re a member who also has a World Of Hyatt Credit Card, the requirements are waived since World Of Hyatt Credit Card cardholders receive automatic Discoverist status. But it’s worth noting that while certain loyalty programs like Marriott Bonvoy™ offer multiple cards that provide different status levels, Hyatt offers only one card.

World of Hyatt Explorist

What does Explorist status get you?

World of Hyatt Explorist members can earn six points for every $1 they spend on eligible purchases at Hyatt properties (five base points plus a 20% bonus on all points earned).

In addition to the Member and Discoverist perks, Explorist members may be offered the best room available when they check in (excluding suites and rooms that include Club Lounge access). So, for example, an Explorist may be automatically upgraded from a standard room to a Deluxe at no extra charge. As with the Discoverist level, this perk is not offered at all Hyatt locations.

At the Explorist status tier, you may also receive guaranteed availability provided that you book your stay at least 72 hours in advance. This means that even if the hotel is “sold out,” you should be able to get a room. But blackout dates and certain restrictions may apply, varying by hotel.

How do I qualify for Explorist status?

To qualify for World of Hyatt Explorist status, you’ll need to stay a minimum of 30 qualifying nights at participating Hyatt locations, earn 50,000 base points during the calendar year or hold 10 events.

Having the World Of Hyatt Credit Card may help you reach Explorist even status faster. Card members can receive five tier-qualifying night credits each calendar year. Plus, they can earn two more night credits each time they spend $5,000 in eligible purchases on the card.

World of Hyatt Globalist

What does Globalist status get you?

World of Hyatt Globalist members can earn 6.5 points for every $1 they spend on eligible purchases at Hyatt properties — five base points plus a 30% bonus on all points earned.

In addition to the basic, Discoverist and Explorist member benefits, you may be able upgrade to a standard suite or a room with Club Lounge access as a Globalist member. And when you stay in a hotel that doesn’t have a Club Lounge, you and each of your registered guests (up to two adults and two kids) may also get to enjoy a free full breakfast every day during your stay.

Resort fees are already waived on free nights for all membership levels. But Globalist members don’t have to pay this fee for eligible regular bookings either. And Globalist members can access free parking at participating locations when they use their free night awards.

Globalist members can take advantage of the ability to gift someone a free night award — a benefit called “Guest of Honor.” Recipients of this perk can use the free night at participating locations, plus take advantage of all of the benefits typically available to those with Globalist status, including 4 p.m. late checkouts, free Club Lounge access and waived parking fees.

How do I qualify for Globalist status?

To reach Globalist status, you’ll need to stay a minimum of 60 eligible nights at participating Hyatt locations, earn 100,000 base points during the calendar year or hold 20 events.

These requirements may seem difficult to meet. But if you have the World Of Hyatt Credit Card, you’ll receive five tier-qualifying nights per calendar year, plus two more for every $5,000 spent on eligible purchases, so the card may help you make up the difference.

Which World of Hyatt status is right for me?

If you’re loyal to Hyatt, you could earn free nights and access more benefits by joining the World of Hyatt loyalty program. But which status level will be the best fit for your preferences and needs? Here are three tips to help you decide.

If you’re not a morning person

Looking to get a little extra snooze time before you check out — or maybe just some extra time in the pool? If so, the easiest way to extend your check out time to as late as 2 p.m. is to achieve Discoverist status. But if you want to stay even later, you’ll need Globalist status which entitles you to check out as late as 4 p.m.

If you’d like a different room

While Discoverist members may be offered a preferred room, which could be on a higher floor or have a view, the new room must be in the same category as the one that was originally booked. But if you’re looking for an upgrade to a higher-priced room, you’ll want to reach at least Explorist status. Just know that you may not be able to upgrade to a suite or a room with Club lounge access until you reach Globalist status.

If you’re a foodie

If you’re looking for the VIP treatment, with Globalist status, you can gain access to Hyatt Club Lounges at participating hotels during your stay. With Club lounge access you’ll get to enjoy a continental breakfast every morning and hors d’oeuvres during the evenings. But don’t worry, if your hotel or resort doesn’t have a Club lounge, you’ll still be able qualify for free breakfast.

World of Hyatt credit cards

World of Hyatt offers one credit card: the World Of Hyatt Credit Card. If you have the card, you may not only get a faster path to higher elite status, but you could also receive a free anniversary night each year at a Category 1-4 hotel or resort. Plus, you could earn nine total points for every eligible $1 spent on Hyatt stays with a World of Hyatt membership, and two points per $1 for purchases of eligible items like airline tickets, transit and commuting costs and even gym memberships.

It also bears mentioning that World of Hyatt is a Chase Ultimate Rewards® travel partner. This means you can transfer the points you earn with several Chase-branded cards, such as the Chase Sapphire Preferred® Card, to World of Hyatt points at 1:1 ratio. While you can’t use transferred points towards reaching elite status, you can redeem them for free nights.

Lending.com is no longer offering new mortgages. For another option, check out reviews of Better Mortgage.

Updated March 20, 2023

This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Written by: Clint Proctor

Lending.com mortgage loan at a glance

• Conventional loans: Yes
• FHA loans: Yes
• VA loans: Yes
• Refinancing: Yes
• Jumbo loan: Yes
• Adjustable rates: Yes (3,1, 5/1, 7/1 and 10/1 ARMs)
• Fixed rates: Yes (10, 15, 20, 25 and 30 years)

Lending.com is an online mortgage lending website that offers both new home purchase and refinance loans. The website is a division of Finance of America Mortgage LLC, which has originated $65 billion in loans since 2017 and has over 300 offices globally.

Pros

• Fast and simple online loan application
• Financing for multiple types of properties

Cons

• Website doesn’t list loan options or rates
• Must speak with a mortgage adviser to lock in rates

3 things to know about a Lending.com mortgage loan

The Lending.com site accepts mortgage applications for properties located in every state except New York. If you’re considering a home loan from Lending.com, here are some things you’ll want to know before you apply.

1. Online-based application experience

While its parent company has hundreds of offices, Lending.com lists just one branch, located in Charlotte, N.C.

The good news is that Lending.com’s online application process is easy to follow.

2. Bare-bones website

The Lending.com site is low on details, with no interest rates posted and no list of the types of loans offered.

There’s no “About” page with info on the lender, no FAQs page or any kind of homebuyer’s how-to guidance. Even the privacy, disclosures, licensing and terms of use pages listed at the bottom of the site are simply links to pages on its parent company site, FOAMortgage.com.

Lending.com does offer a few helpful calculators for things like estimating your mortgage payments or calculating your debt-to-income ratio. Other than that, the entire website consists only of a homepage and application tool.

3. Wide variety of loans and property types

A representative of Lending.com verified for us that it offers conventional fixed and adjustable-rate mortgages with down payments as low as 3% — and the following types of loans:

• FHA Loans
• VA Loans
• USDA Loans
• Jumbo Loans

Who is a Lending.com loan good for?

Lending.com could be an option for those who want to begin their home loan journey online but with the assistance of a loan officer. For first-time homebuyers, the availability of all three government-insured loans programs — FHA, VA and USDA — is a positive.

But despite Lending.com being an online-based lender, you will need to talk to one of its advisers to learn which types of loans you qualify for, to get more info on terms and other details, and to lock in your rate. That’s great if you’re looking for some hand-holding during the mortgage process, but it’s a negative if you prefer a self-guided mortgage experience that allows you to learn a lot on your own before you start engaging with a lender.

How to apply for a Lending.com mortgage

You can start the application process with Lending.com online or over the phone.

At the end of its online application, Lending.com will ask for permission to run a check of your credit. It’s unclear if this credit check would be a soft or hard credit inquiry. But if you’d like to avoid a hard credit check until you’ve learned more about Lending.com’s options and rates, you may want to speak with an adviser before submitting an application.

If you do submit your application online, you’ll be contacted by a loan professional to discuss your options. After choosing your loan type and locking in your mortgage rate, you’ll receive your initial disclosures. It’s at this point that you’ll need to submit financial records such as recent pay stubs and tax returns to receive mortgage preapproval. The final step in the process is to obtain approval from the underwriter and to schedule your closing.

While Lending.com doesn’t disclose its minimum credit score requirements, generally you’ll need a score of at least 620 to qualify for a conventional loan. Those with lower scores may still be eligible to receive an FHA or VA mortgage from Lending.com.

As a business owner, you may already use Venmo to send money back and forth to your friends and family. But did you know that by creating a Venmo business profile, you may be able to use the app to accept payment from customers?

Venmo is a digital wallet that was originally intended to provide a cashless way for people to split bills or send cash to friends and family. Until recently, you couldn’t use Venmo for business transactions, but Venmo has begun to loosen its restrictions around using its app for commerce. Now, many freelancers and small-business owners can also accept Venmo payments for their goods and services. But who exactly can use Venmo for business? And what are its advantages and limitations? Here’s what you should know.

• Venmo for business: what you need to know
• Advantages and disadvantages of using Venmo for business
• Deciding if Venmo is right for your business
• Next steps: If Venmo for business isn’t right for you, consider these alternatives

Venmo for business: what you need to know

Venmo launched a limited pilot of business profiles in July 2020. Then in February 2021, Venmo announced that 150,000 businesses were using the payment option — and it decided to expand access to all eligible sellers. Side hustlers and small-business owners alike can now accept Venmo payments in person, online or inside their mobile apps.

Venmo offers several tools to help business owners market their services and reach new customers, including a profile picture on your page and a link to your website. But there are costs associated with accepting customer payments in the Venmo app. Below, we break down the basics of how Venmo for business works.

How you can use Venmo for business

Venmo still prohibits businesses from using its app to receive payments for goods or services on their personal profiles. So to begin receiving business payments and ensure you receive payment, you’ll first need to apply for and receive authorization for a new business profile. Once approved by Venmo, you can begin accepting payments virtually via the Venmo app or in store with your Venmo QR code.

But if you want to accept payments at checkout on your business website or app, you’ll need to get set up with PayPal Checkout and add Venmo as a payment option. To do this, you may need to work with a developer, and you’ll need to use the Braintree payment platform to integrate Venmo payments.

Who can use Venmo for business?

Venmo is working on making business profiles available to all sellers. But for now, Venmo seems to be targeting sellers who are sole proprietors or businesses that include artists, craftspeople, photographers, dog-walkers, hair stylists and more. But its list of business profile categories is extensive.

What you need to set up a Venmo business profile

If you already have a Venmo personal account, look for the “Business Profile” option in the main menu of the Venmo app. If you don’t have a personal profile, you’ll need to set one up at the same time as your business profile.

Once you have an established Venmo account, you’ll start the process of creating your business account by tapping on your profile picture. Next, you should see the option to “Create a business profile.”

Businesses may be able to move straight forward to customizing and publishing their profiles. The process could be fast for registered businesses as well if Venmo is able to find the business entity inside the national database that it uses.

But if Venmo can’t confirm your registered business automatically, you may need to provide a few verification documents. Specifically, you may be asked to submit documents that verify your business’s employer identification number, address and legal registration.

Advantages and disadvantages of using Venmo for business

Now that we’ve covered the nuts and bolts of using Venmo for business, let’s take a closer look at some of its most notable benefits and drawbacks. Here are a few things to keep in mind as you consider whether it’s right for your business needs.

Allows contactless payments

Many shops now offer contactless debit and credit card payments as a way to encourage social distancing and prioritize the health of their customers. But that requires hardware that may be difficult for some single-person businesses to afford.

With Venmo for business, you can easily begin receiving contactless payments from your customers — no additional hardware required.

Just use your phone to scan your customer’s QR code, or they can scan your code to make the transaction. And if you have a walk-in shop, you could prominently display your QR code right on the counter.

May help market your business

The social aspect of Venmo can work to your advantage as a business owner. By allowing your customers’ purchases to appear in their feeds, you can essentially gain free marketing to their social circles each time you make a sale.

But that’s not the only way that Venmo could help you promote your services and expand your presence. You can also elect to have your business appear in search. And you can even give Venmo permission to highlight your business in targeted emails and notifications.

But to maximize these features, it’s important include as much as detail as you can on your business profile. You’ll want to at least include a profile picture and brief description of your business, along with your business website if you have one.

You can create a customer loyalty program

Venmo keeps track of all your transactions and your customer list. Using this list, you could send out special offers and incentives to encourage repeat sales.

There are weekly payment limits

Unfortunately, Venmo’s business profiles come with the exact same transaction limits that apply to its personal accounts. For verified accounts, the combined weekly limit is $6,999.99.

Of that $6,999.99 combined limit, no more than $4,999.99 can be person-to-person payments. So if you only accept payments through the Venmo app and opt not to connect Venmo through PayPal to your business website or app, your weekly limit will be capped at that $4,999.99 limit.

Only available to businesses in the U.S.

The Venmo app isn’t currently available internationally. So if your business is located outside the United States, Venmo for business won’t be the right payment solution for you.

Nonprofits are also ineligible to sign up for Venmo’s peer-to-peer payment experience. But they may be able to add Venmo as a checkout option to apps or websites using Braintree or PayPal checkout.

No split payments allowed

For business transactions, Venmo users can’t split a payment between their account balance and their preferred payment method. So, let’s say your customer has $20 in their Venmo account and makes a $25 purchase from you. In this example, $25 would be pulled from the customer’s preferred payment method rather than using the $20 Venmo balance first and pulling the remaining $5 from their preferred payment method.

Not necessarily deal breakers

• Business and personal accounts share a login. You’ll use the same login for both your personal and business Venmo account. This makes it easy to toggle between the two accounts, but it could get confusing.
• There may be extra costs to consider. While setup is free and there are no monthly fees, transaction fees do apply. For peer-to-peer payments, that fee is 1.9% + 10 cents. Website transaction fees are determined by PayPal Checkout and app purchases are subject to Braintree’s fees. Currently, both of these payment processors generally charge 2.9% + 30 cents per transaction.
• Customers may be able to get purchase protection. Transactions made on an authorized merchant’s app or mobile website using Venmomay be eligible for the Venmo Purchase Program, which can cover the buyer’s cost if an item they received was significantly different than described. Peer-to-peer payments, though, aren’t eligible for Venmo Purchase Program protection.

Deciding if Venmo is right for your business

Freelancers, side hustlers and small businesses without brick-and-mortar locations might find that using Venmo for business is an easy way to accept contactless payments from customers. But if you’re a store owner who already has a point-of-sale terminal capable of accepting touch-free payments from EMV chip cards or mobile wallets, adding Venmo to the mix may not be necessary.

Next steps: If Venmo for business isn’t right for you, consider these alternatives

If you’ve decided that Venmo isn’t right for your business but still want to offer a contactless payment option for your customers, you could consider adding Apple Pay or Zelle.

Apple Pay has a broad customer base as the app comes installed on all iPhone devices. But one of the disadvantages with Apple Pay is that you won’t be able to use it for in-person transactions without first obtaining a point-of-sale terminal that’s able to accept contactless payments. Zelle is another popular peer-to-peer payment platform that many banks use. But not all banks and credit unions that offer Zelle to their customers also offer it for small businesses. First, you’ll need to check with your financial institution to see if you can use Zelle for business transactions.

If you have debt collectors contacting you, don’t panic.

You have rights and options. Here’s what you need to know.

What it mean to have a debt in collections

Your creditor may hire a debt collector if you’re more than 120-180 days behind on your debt.

Credit card debt, mortgages, auto loans and student loans can all be passed on to collections.

But before you rush to make any payments, make sure the debt, and the debt collector, are legit. Watch out for these signs that you may be dealing with a scammer, warns the Consumer Financial Protection Bureau.

• They withhold information.
• They pressure you to pay by money transfer or a prepaid card.
• They threaten you.
• They ask for a lot of personal information.
• They call at strange times.

If you’re worried that you’re dealing with a scammer, ask for a company name and contact number. Then verify the information with your original creditor.

How will a debt in collections affect my credit?

We’re not going to sugar coat it: The longer your payment is past due, the more it can hurt your credit scores.

And a debt in collections hurts because it means your creditor’s written off the debt. So if you can, get current before an account enters collections.

The number of debts you have in collections also matters. If you’ve had one debt in collections it may be an easier to get approved for credit than someone with multiple debt collections.

But, if you’re dealing with collections know that the impact on your credit scores will diminish over time and will eventually disappear.

What are my debt collection rights?

Federal law limits what a debt collector can say and do. The law requires a debt collector to send you a written notice within five days of initially contacting you with:

• The amount of your debt
• The collector’s name
• Steps to appeal

If you don’t think the debt is legitimate, you can dispute it within 30 days to the debt collector or with the company reporting the debt. If you dispute a debt, the collector must send written verification, such as a copy of a bill, before contacting you again to collect payment.

Here are a few more of your debt collection rights:

• Debt collectors can only contact you during certain hours and can’t contact you at work if your employer prohibits personal calls.
• Debt collectors can’t threaten you with physical violence, use obscene language or lie to you.
• If you’re being represented by an attorney and the debt collector knows, they must communicate with your attorney.

Should I pay off collections debt?

That largely depend on your financial situation.

Credit-scoring factors to consider

Even if you pay off your debt, it may stay on your credit reports as a paid collection for up to seven years.

And if you have multiple debt collections on your credit report, paying off a single collections account may not significantly raise your credit scores.

Is the debt time-barred?

Understand the age of your debt and whether you’re still liable to pay it. Even if collectors threaten you, once the statute of limitations expires they can’t sue you to collect, unless the debt is revived.

What’s next?

Some debt collectors may be willing to negotiate a debt settlement or payment plan. But, you may want to try negotiating on your own first for the following reasons:

• Many debt settlement companies charge expensive fees.
• Your debt collector may refuse to work with the debt settlement company.

If you decide to work with a debt settlement company, never agree to pay upfront fees before a debt has been settled.

As an alternative to a debt settlement agency, you may want to set up a free consultation with a bankruptcy attorney to understand your legal options. Or, you may want to contact a certified credit counselor who could help you create a personalized debt management plan.

If you’ve ever used Zelle to send and receive cash, you may have wondered if your business can use the platform to have customers pay for their transactions.

The short answer: Now you may be able to.

The coronavirus pandemic made contactless payments a lot more popular for businesses, leading nearly a dozen banks to bring on Zelle for small businesses in 2020.

But before you put the “Zelle for business” sign up in your store front, keep in mind that not all businesses or customers are able to use the platform for business transactions.

And for businesses that are able to participate, you’ll want to know that your customers won’t have any built-in purchase protection — like the ability to cancel a payment once they hit send.

Let’s take a closer look at how Zelle for business works.

• Zelle for business: What you need to know
• What are the advantages and disadvantages of using Zelle for business?
• Next steps: If Zelle isn’t right for you, consider these alternatives

Zelle for business: What you need to know

Zelle is a digital payment network that’s co-owned by seven major U.S. banks. The Zelle platform is compatible with most U.S. banks and credit unions, and it has more than 90% of top financial institutions in its network, serving about 140 million consumers.

In 2020, Zelle for business became available for business customers that bank with one of 11 select banks in the Zelle network, allowing consumers to make payments through Zelle.

How can I use Zelle for business?

If you’re a small-business owner, you might be able to use Zelle to receive payments directly from your customers’ bank accounts. You may also remind customers when their payment is due by sending a request along with an optional note. And you may be able to use Zelle to send money to your suppliers or receive money from vendors.

Is Zelle for business right for me?

If your business banks with one of the 11 financial institutions offering Zelle for business, and you’re thinking about adding contactless payments, Zelle might be a good option. As of right now, participating banks include the following:

• Bank of America
• Bank of the West
• Chase
• Citi
• FirstBank
• Frost
• Investors Bank
• Morgan Stanley
• Truist
• U.S. Bank
• Wells Fargo

What do I need to set up a Zelle business profile?

To start accepting Zelle payments or to make Zelle payments as a small business, you’ll first need make sure you have a business banking account with a participating bank. Next, you’ll have to enroll in the program through your bank’s mobile app.

To enroll, you’ll need to sign up using a mobile number and email address. Just keep in mind that if you send or receive with Zelle for personal use too, you’ll most likely need to provide a different phone number and email address for your business account.

What are the advantages and disadvantages of using Zelle for business?

Using Zelle for your small business may offer several benefits (but there can also be drawbacks).

Ability to accept contactless payments

Since Zelle transactions are completely digital, you may be able to easily send and receive funds quickly without needing to exchange cash — providing a contactless and seamless way for your customers to pay. It may even help you cut down time and money spent on check and cash transactions.

Money can be transferred quickly

With Zelle, funds typically arrive in the recipient’s bank account within minutes, regardless of the day of the week or time of day that the transfer was initiated, which may help you get paid faster. By comparison, funds transferred through apps like Venmo or Cash App might arrive in your app account quickly, but could take up to three days to post to your bank account.

Must have a Zelle account through a bank

To use Zelle for business, both the sender and recipient need to be enrolled in Zelle through their bank’s mobile app. This means that you won’t be able to sign up for Zelle through your debit card or accept payments from customers who are enrolled in the Zelle app with their debit card either.

Transaction limits and fees may vary by bank

Zelle lets each participating bank decide on the number of transactions and transfer limits you’ll be able to send and receive as a small-business owner. Chase Bank, for example, allows you to send up to $5,000 per transaction and as much as $40,000 per month. Bank of America’s transfer limits, meanwhile, are $15,000 per 24 hours, $45,000 in a seven-day span and $60,000 every 30 days.

And while Zelle itself doesn’t charge any fees for small businesses to use its service, your bank may. So it’s a good idea to check with your bank before you begin to offer the service if you have concerns about fees.

Returns can be tricky

Zelle doesn’t offer any sort of purchase protection. Transactions happen quickly, and a Zelle payment can only be canceled while it’s still pending if the recipient hasn’t yet enrolled in Zelle. Assuming your small business is the recipient and already enrolled in Zelle, your customers won’t have the option to cancel a payment once it’s been sent.

So if a customer wants to return an item or cancel a transaction, you’ll have to find another way to refund their purchase.

Next steps: If Zelle isn’t right for you, consider these alternatives

If you’re not sure whether Zelle for business is the right fit for your small business, but you still want to offer a contactless payment option for your customers, you could consider adding ApplePay or Venmo.

Apple Pay has a broad customer base — the app comes preinstalled on all iPhone devices. But you won’t be able to use Apple Pay for in-person transactions without first getting a point-of-sale terminal that accepts contactless payments.

Venmo is another popular peer-to-peer payment platform that is now available for small businesses. And with a Venmo for business account, you’ll get several tools to help market your services and reach new customers, including a profile page with a link to your website and a picture and visibility on the Venmo social feed. But there are also costs associated with accepting customer payments in the Venmo app.

Updated January 3, 2024

This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Written by: Clint Proctor

Homefinity mortgage loans at a glance

• Conventional loans: Yes
• FHA loans: Yes
• VA loans: Yes
• Refinancing: Yes
• Jumbo loans: No
• Adjustable rates: Yes
• Fixed rates: Yes (15-year, 20-year and 30-year loans)

Homefinity is a mortgage lender that launched in 2018 as an online subsidiary of Fairway Independent Mortgage Corporation. Like its parent company, Homefinity is headquartered in Madison, Wisconsin, and lends to borrowers nationwide.

Pros

• Robust digital mortgage technology
• Good options for first-time homebuyers
• Available in most states

Cons

• Limited selection of more specialized loan options
• Must speak with a loan officer before applying

What to know about a Homefinity mortgage loan

Homefinity offers home purchase and refinance loans with fixed-rate or adjustable-rate mortgage terms. The company says it tries to leverage its digital tools to offer fast mortgage processes. Here’s what else you should know about Homefinity before you apply.

1. Fast digital mortgage process

With no local branches to lean on, it’s a necessity for online mortgage lenders to offer convenient digital tools. The good news is that this is one of Homefinity’s strong suits. Thanks to its technology, Homefinity says that borrowers may be able to get preapproved in minutes and close quickly.

You can submit a loan application in less than 10 minutes from the comfort of your couch or while on the go using the Homefinity Xpress mobile app. And you can scan and upload documents securely with a phone camera.

Once you’ve submitted your application, it’s easy to monitor its status. You can even set up real-time push notifications. You can also use the app to call or text Homefinity mortgage professionals and real estate agents.

One downside to Homefinity’s mortgage process is that you won’t be able to apply until you’ve spoken with a loan officer. That’s a bit of a bummer, especially if you’re an experienced homebuyer who doesn’t need help finding the right loan or if you were hoping to begin the process outside of business hours.

2. Low down payment and closing cost options

Saving up enough cash to make a large down payment and cover closing costs can be difficult for many homebuyers — especially for people looking to make their first home purchase. With Homefinity, there are multiple ways to reduce the amount of cash you’re required to bring to the closing table.

First, the lender offers both FHA and VA loans. FHA loans accept down payments as low as 3.5%. VA loans, meanwhile, may be taken out without any down payment to those who are eligible and meet the requirements.

In addition to these government-insured loan options, Homefinity offers conventional loans with down payments as low as 3%. These loans also come with a “no out-of-pocket closing costs” option.

3. Scaled back menu of available products

As the online arm of Fairway Mortgage, it makes sense that Homefinity doesn’t have any local branches. But that’s not the only way that the lender differs from its parent company. Homefinity also has significantly fewer mortgage options.

Here are some of the mortgage types offered by Fairway Mortgage that have yet to make their way to its Homefinity platform.

• Jumbo loans
• USDA loans
• HomeStyle renovation loans
• Limited 203(k) rehabilitation mortgages
• Standard 203(k) rehabilitation mortgages
• Reverse mortgages

Keep in mind that any loan limitations inherent to Fairway Mortgage will also naturally be passed down to Homefinity. For example, neither brand is currently able to offer home equity loans or home equity lines of credit (HELOCs).

Who is a Homefinity loan good for?

Homefinity’s business model exists in a space between brick-and-mortar and fully online lending. It pairs customers with a loan officer while also offering digital tools to potentially speed up the process. That hybrid approach may appeal to homebuyers who value human support but don’t necessarily want to leave their home to access it.

But the fact that Homefinity doesn’t go “all-in” on either lending model might also frustrate some people. For example, having no local branches may dissuade homebuyers who are looking for in-person service. And requiring interactions with a loan officer may turn off tech-savvy buyers who prefer a 100% digital process.

Not sure if Homefinity is right for you? Consider these alternatives.

If you want to compare mortgage rates with several lenders, keep in mind that you have a window of time where multiple hard credit inquiries only count as one for your credit scores. That rate-shopping period is typically 14 days. While the window could be longer depending on the scoring model used, getting your quotes within that two-week span is generally the best strategy.

• Better Mortgage: If you’re looking for an online lender that truly offers an “end-to-end” digital mortgage process, you might want to consider Better Mortgage.
• PNC Bank: PNC Bank could be worth checking out if you’re looking for a wider variety of specialized loans or happen to live near one of its many local branches.

Updated November 4, 2021

This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Written by: Clint Proctor

PNC Bank mortgage loans at a glance

• Conventional loans: Yes
• FHA loans: Yes
• VA loans: Yes
• Refinancing: Yes
• Jumbo loans: Yes
• Adjustable rates: Yes (3/1, 5/1, 7/1 and 10/1 ARMs)
• Fixed rates: Yes (10 to 30 years)

PNC Bank operates branches in the mid-Atlantic, Midwest and Southeast, and it also offers mortgages online nationwide. PNC has many standard mortgage options along with specialized home loans that may appeal to first-time homebuyers, medical professionals and more.

Pros

• Offers a digital preapproval process
• Provides home equity and specialized loans
• Transparent about current mortgage rates

Cons

• No home renovation loans
• Branch access not available in every state

5 things to know about a PNC Bank mortgage loan

PNC Bank offers common home loans including conventional (fixed- and adjustable-rate terms) FHA, VA and USDA loans, as well as mortgage refinancing. Here are a few of PNC’s more unique features and loan options that you’ll want to be aware of before you apply.

1. Online tools backed by phone and in-person support

PNC Bank offers a nice blend of time-saving technology and personal, human service. You can apply for mortgage preapproval online in minutes. You’ll also have the opportunity to verify your income, assets and employment electronically.

In addition to its online options, PNC has an extensive network of more than 2,300 branches. If you happen to do your banking with PNC, you can visit your local branch to start the mortgage process. You can also use the bank’s directory to find the contact information for a PNC mortgage officer in your area.

But take note that PNC branches are currently available in only 23 states and Washington, D.C. If you live in a state where PNC doesn’t have a local presence, you’ll need to be OK with applying online and being limited to phone and email support.

2. Fast and anonymous mortgage rate quotes

PNC Bank doesn’t make you jump through hoops or provide a lot of personal information to see its current rates. In fact, you don’t have to provide any information at all. On PNC’s website you can compare PNC’s starting interest rates for conventional, FHA and VA loans.

The rate quotes you see assume that you have a 740 credit score, a debt-to-income ratio of 36% and will have a loan-to-value ratio of 80%. If you use PNC’s “Application Through Closing” guide, you can use its closing costs calculator to estimate your mortgage fees and charges.

3. Multiple ways to tap into home equity

Many mortgage lenders offer conventional loans and government-backed loans, but home equity loans and home equity lines of credit, or HELOCs, are less common. PNC Bank offers both of these options, though.

You can also apply for cash-out refinancing to borrow from your home’s equity. With any of these choices, existing homeowners can use the cash they receive to consolidate debt, fund a home renovation project or meet other needs.

One thing you can’t do with PNC Bank, though, is include the costs of home renovations in an original mortgage. If you’re planning to buy a fixer-upper and want to finance the improvements with a home renovation loan, you’ll need to look at other lenders.

4. Specialized mortgage options

PNC Bank also offers a few niche loans that you may not find with other lenders.

• PNC Community Loan: This home loan allows eligible homebuyers to put as little as 3% down, and part of that down payment can come from gift funds. Notably, this loan doesn’t come with private mortgage insurance, or PMI.
• Medical Professionals Mortgage: This mortgage is designed for medical interns, residents, fellows or physicians who completed their residency within the past five years. The loan maximum is $1 million, gift funds can be used for a portion of the down payment, and there’s no PMI.
• USDA Loan: If you live in a qualifying rural area, you may be able to take out a USDA mortgage with low closing costs and no down payment.
• Jumbo Loan: If you’re looking to take out a mortgage that’s higher than the conforming loan limits for your area, you’re going to need a jumbo loan. With PNC Bank’s jumbo loans, you can finance up to $5 million. You can also refinance existing jumbo loans up to the same maximum loan amount.

In addition to these mortgages, PNC Bank also offers grants of up to $5,000 to help cover closing costs. To qualify for this grant, you’ll need to meet income requirements or your property will need to be located in a low- or moderate-income census tract (by the FFIEC geocoding system).

5. Numerous homebuying resources

PNC Bank’s website offers many tools that are designed to educate and prepare homebuyers. Perhaps most impressive is its Home Insight Planner, which can help you more accurately calculate how much home you can afford.

The Home Insight Planner asks about your income, living expenses, debt obligations and savings goals. Then it calculates a realistic mortgage payment based on the information you provide. Finally, it allows you to view live home listings in your area with asking prices that would fit within your budget.

Once you’ve started the mortgage process, the PNC Home Insight Tracker makes it easy to monitor and manage your application. And you can find many more online resources and guides inside PNC’s Understanding Home Lending Center.

Who is a PNC Bank loan good for?

PNC Bank might be a natural place to start your mortgage-shopping process if you’re already one of its banking customers. It could also be a good choice if you want to borrow against your home’s equity since it offers home equity loans, HELOCs and cash-out refinancing.

People who are looking for “out of the box” loans may find that PNC Bank offers more flexibility than other lenders. Examples include medical professionals who have unique financial situations or first-time homebuyers who want low down payment options. And if you need a nonconforming loan, PNC’s jumbo loan limits are very high.

But PNC won’t be a good fit if you want in-person support and don’t live near one of its local branches. You’ll also need to look elsewhere if you want a lender that offers renovation financing on new home purchases.

How to apply for a PNC Bank mortgage

You can apply for preapproval with PNC Bank online, over the phone or in person at a branch. It offers two types of preapproval.

• Preliminary preapproval: This tells you how much you may qualify to borrow based on your manually entered employment, income and asset information. Electronic verification of your information isn’t required.
• Preapproval: This provides you with a firm lending commitment after your financial information has been verified.

If you’re happy with the amount that you’ve been preapproved to borrow, you can move forward with submitting your loan application. At this point you’ll need to work with a loan officer to submit your supporting documentation such as recent pay stubs, W-2s and bank statements.

To get approved for PNC Bank’s best mortgage rates, the bank says you’ll likely need a credit score of at least 740. But it also says that it has options for people with credit scores as low as 620.

Not sure if PNC Bank is right for you? Consider these alternatives.

If you’re shopping for a mortgage, you have a window of time where multiple credit inquiries by lenders are only counted as one for your credit scores. You typically have 14 days to shop around — though it could be longer depending on the scoring model.

• Fairway: If you want to take out a renovation loan to finance improvements on a new home purchase, Fairway could be a good option.
• Bank of America: Bank of America could be worth considering if you have a banking relationship with the company or it has a better local branch presence in your area.

LenderFi is no longer offering new mortgages. For another option, check out reviews of Better Mortgage.

Updated January 9, 2024

This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Written by: Clint Proctor

LenderFi mortgage loans at a glance

• Conventional loans: Yes
• FHA loans: Yes
• VA loans: No
• Refinancing: Yes
• Jumbo loan: No
• Adjustable rates: Yes (5/1 and 7/1 ARMs)
• Fixed rates: Yes (10, 15, 20, 25 and 30 years)

LenderFi is an online mortgage lender based in Delray Beach, Florida. Since its founding in 2006, the company says it has funded billions of dollars in home loans. It offers a 24/7 online mortgage experience that’s designed to accommodate fast closings. The company offers conventional purchase and refinance loans, including low down payment options.

Pros

• Offers a streamlined online mortgage experience
• Provides customized rate quotes without requiring personal information

Cons

• Doesn’t currently offer VA loans
• Doesn’t lend in some states

3 things to know about a LenderFi mortgage loan

LenderFi is a direct lender that can provide ongoing servicing in addition to mortgage origination. If you’re considering a LenderFi mortgage, here are a few things you should know.

1. Streamlined online mortgage process

You don’t have to visit a branch or pick up the phone to apply for a mortgage with LenderFi. Instead, you can start the process by filling out an online loan application, which should take about 15 minutes to complete.

Once you’ve submitted your application, LenderFi says that you’ll receive an underwriting decision within 24 hours. In fact, some borrowers may be able to receive an instant mortgage preapproval letter at any time of the day or night.

Once you’ve locked in your mortgage rate, LenderFi says that its goal is to close within two weeks. To accomplish this, the company tries to eliminate unnecessary paperwork. And the documents that potential borrowers are required to provide can be submitted via LenderFi’s online application system.

2. Limited loan options

LenderFi doesn’t offer VA or USDA loans, which can be popular with first-time homebuyers.

LenderFi does offer the Fannie Mae HomeReady® and Freddie Mac Home Possible® conventional loan programs, though — both of which may appeal to people with limited income or cash. Each program accepts down payments as low as 3%, and the cash can come from multiple sources (including gifts and grants).

There’s no information on Lenderfi’s site about jumbo loan offering. Cash-out refinance loans are available, but home equity loans and HELOCs are not.

3. Straightforward pricing

With LenderFi, you can check your potential mortgage rates quickly without having to provide any personal information. While the process is anonymous, you can still customize your rates by your credit scores, ZIP code, house price and down payment amount.

LenderFi says that it doesn’t charge any lender fees, and quotes are transparent about the effects that points or credits can have on your interest rate and closing costs. In our test, LenderFi provided 17 different options for a 30-year loan, with the lowest interest rate requiring about $4,500 worth of points purchased and the highest rate providing nearly $4,000 in credits.

Rate Watch is another LenderFi feature that may attract mortgage shoppers. After signing up and selecting your loans of interest, LenderFi will notify you by email or text whenever rates drop. If you decide to sign up for Rate Watch, know that LenderFi will ask you to provide your first and last name.

Who is a LenderFi loan good for?

LenderFi could be a good option if you want a conventional mortgage loan and are comfortable with an online-first mortgage experience. If you fit that description, LenderFi offers transparent pricing and quick preapproval letters.

But LenderFi’s options for some homebuyers are limited. While it does offer the HomeReady and Home Possible programs, VA loans are unavailable. Speaking of unavailable loans, LenderFi will also be a no-go if you’re looking to take out a jumbo loan or home equity loan.

LenderFi also won’t be a good choice if you’d like to sit down in person with a loan officer. You can speak with a loan consultant over the phone, but there are no local branch offices. Finally, you should note that LenderFi doesn’t lend to residents of Hawaii, Missouri, Nevada, New York or Utah.

How to apply for a LenderFi mortgage

You can start the mortgage process with LenderFi online or over the phone with a loan consultant. After your loan application has been received, LenderFi will send you an email requesting the following documentation:

• Two years’ worth of W-2s and tax returns
• Two most recent bank account statements
• Recent pay stubs (from the past 30 days)
• Driver’s license
• Accepted contract and/or short sale agreement
• Contact info for your real estate and settlement agents

If all home loan documents are promptly received, LenderFi says it aims to close your loan within two weeks. But if your loan takes longer to close, your preapproved interest rate should still be safe. All approved applicants receive a 30-day rate lock, which can be extended for up to 30 additional days by purchasing an extension fee of 0.25 to 0.625 in points.