Fairway Mortgage Launches Rewards Credit card Tied to Home Loan Benefits
DALLAS, TX – fairway Autonomous Mortgage Corporation has launched a new credit card program designed to incentivize on-time mortgage payments and foster customer loyalty, a move signaling a broader industry trend of mortgage lenders seeking to become more integrated into homeowners’ financial lives. The “Fairway Rewards Card,” issued through Bilt Rewards, allows cardholders to earn points on everyday spending that can be redeemed for statement credits toward their Fairway mortgage, potentially lowering closing costs on future transactions or even reducing their interest rate.
This launch comes as mortgage companies increasingly recognize the need to move beyond transactional relationships with borrowers. Recent investments,such as UWM’s stake in Bilt,and Rocket Mortgage’s acquisition of redfin,demonstrate a shift toward offering a wider range of homeownership services. Fairway’s card aims to keep the lender top-of-mind for future home purchases or refinance opportunities, offering a tangible benefit for continued business.
The Fairway Rewards Card allows users to earn points on all purchases,with accelerated rewards for spending related to homeownership. These points can then be directly applied to reduce a homeowner’s principal balance, effectively lowering their overall mortgage costs. According to Fairway, the card provides a “call to action” for customers to re-engage with the lender when considering a subsequent home purchase or a mortgage refinance.
While the rewards program offers potential savings, experts caution borrowers to carefully evaluate whether the benefits outweigh other credit card options. “Discounts and perks are nice,but you’ve got to do the math and compare alternatives (after factoring in the rewards points) to ensure you don’t miss out on something better,” advises Colin Robertson,founder of The Truth About Mortgage,a website dedicated to educating consumers about the home loan process.
