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Apache is functioning normally

September 24, 2024 by Brett Tams

A high-risk personal loan can be a source of funding for people who have a low credit score or no credit history and need to access cash. It is considered “high-risk” because the borrower is seen as more likely to default on the loan. For this reason, the interest rate is likely to be significantly higher than what a borrower with a more creditworthy profile would be offered via a conventional personal loan.

Here, learn the details of high-risk personal loans, their pros and cons, and alternatives if you need a quick infusion of cash.

What Are High-Risk Personal Loans?

High-risk personal loans make cash available to those with a poor credit score or without a credit history. Some points to consider:

• Most personal loans require a credit score of 580 or higher, but if you have a low credit score (typically between 300 and 579) or lack a robust credit history, you may be able to tap into a high-risk personal loan.

• These loans can give you access to cash, but they often come with higher interest rates, higher fees, strict repayment terms, and limits on the amount of money you can borrow.

• While some of these are unsecured personal loans, others may be secured. This means you may be required to put up collateral, or an asset, to be approved for the loan. In this situation, if you default on the loan, the lender can seize your asset.

• Personal loans typically come with fixed interest rates, and you must repay them in fixed monthly installments over a specified period, usually up to seven years. High-risk personal loans may have much shorter terms, however.

It’s worth noting that personal loans don’t usually have any restrictions on their usage. You could use them to pay for a car repair, travel, credit card debt, a new kitchen appliance, and almost any other legal purchase or service.

Recommended: Personal Loan Glossary

Types of High-Risk Loans

Here are some options you might consider for high-risk personal loans.

High-Risk Unsecured Loan

With this loan, you will not need to put up collateral to obtain funding. Typically, the lender will offer you a lump sum of cash; perhaps up to $10,000. While this may supply a quick cash infusion, keep in mind that the “high risk” cuts both ways. The lender is taking a gamble on you, as the odds of you defaulting may be high. But you are also probably securing a loan at a high interest rate and with significant fees and limitations.

High-Risk Secured Loan

In the case of a high-risk secured loan, you will be required to put up a form of collateral (such as real estate or a savings account) to gain access to funding. If a lender offers you this kind of loan, keep in mind that if you default, you could lose your collateral.

Payday Loan

Payday loans are short-term, high-cost loans, usually due on your next payday. Typically they provide a small amount of money, such as $500, that needs to be repaid within two to four weeks, and are offered online or at retail locations of payday lenders.

Here’s how they often work: You write a post-dated check for the amount borrowed plus fees, and the lender debits the funds from your account on the day the loan is due. Or you might grant the lender permission to pull the funds from your bank account electronically. If you can’t pay off the loan on time, it could roll over with more interest and fees accruing.

Note that these loans can involve an annual percentage rate (APR) of up to an eye-watering 400%. For this reason, they are considered a last resort.

Car Title Loan

Not all states offer them, but a car title loan lender lets you borrow between 25% to 50% of your car’s value, typically starting at $100 with 15- to 30-day repayment periods. In exchange, you put your car up for collateral. This means the lender can take possession of your car if you don’t repay the loan. (In one review, the Consumer Financial Protection Bureau found that one in five borrowers of this kind of funding winds up losing their vehicle.)

Lenders who offer car title loans typically have very low or no credit requirements, and you can get funding fairly quickly, even in a day. They also likely come with extremely steep interest rates, up to 300% APR.

Pawn Shop Loan

With a pawn shop loan, you hand over an item as collateral (such as jewelry, a musical instrument, or a computer), and the pawn shop offers a loan based on the item’s appraised value.

The shop may lend 25% to 60% of the resale value of the item, but note that if you fail to repay the loan, the pawn shop can keep and then sell the item. The pawn shop may give you 30 to 60 days to repay the loan.

Here’s the risky part: The APRs are high, around 200%, and vary based on your state.

Recommended: Using a Personal Loan to Pay Off Credit Card Debt

Figuring Out if You’re a High-Risk Borrower

Here are signs that you would be considered a high-risk borrower by lenders:

• You have a non-existent or thin credit history, meaning you don’t have a proven record of handling debt responsibly

• You have a low credit score (generally, below 580)

• You have made repeated late payments on loans or credit cards

• You have defaulted on a loan in the past

• You have a high debt-to-income ratio (DTI); typically, this means your debts add up to more than 35% of your income

• You are unemployed

• You have declared bankruptcy in the past seven to 10 years

Each lender will have its own guidelines regarding to whom they lend, how much, and at what rate and fees. It’s therefore important to check with your lender about the requirements for their personal loans and their terms.

Why Choose a High-Risk Loan?

If you have poor credit or no credit and want to borrow money, a high-risk loan may offer you the best (or only) option to access a loan, particularly if you have an urgent need for cash. You can often access high-risk loans with a lower credit score or minimal credit history than you would need to qualify for traditional loans.

You might seek this kind of loan vs. dipping into an emergency fund you just started or into a college or retirement fund. It could help you preserve those assets if, say, you need quick cash for a move.

It’s important to consider both the pros and the cons of these personal loans so you make the right choice about whether to pursue this type of funding.

Disadvantages to High-Risk Loans

High-risk loans come with several downsides, including the following:

• Higher interest rates and fees: High-risk loans typically have higher APRs and fees, meaning that you’ll pay more over the loan term. An example: Some have a 400% APR vs. the average APR of 12.38% for conventional personal loans as of August 2024. Some people can get caught in a debt cycle of taking out high-risk loans continually (particularly in the case of payday loans).

• Risking collateral: You may have to put up an asset as collateral for your loan. If you fall behind on payments, you may lose the asset because your lender will seize it.

• Lower amounts: You may not get to borrow as much as you prefer, because many lenders will only pay out small amounts to high-risk borrowers. For instance, some payday loans max out at $500.

How to Qualify for a High-Risk Personal Loan

Here’s how you might qualify for a personal loan as a high-risk borrower. Personal loan lenders will want you to see that you’ll likely be able to cover a new loan payment. Among other factors, lenders may use your credit score, your income, and your DTI to assess your ability to repay a loan. In terms of a target DTI, lenders like to see you keep it below 35% for a standard personal loan. With a high-risk loan, you may qualify with a significantly higher figure.

Next, you’ll gather the documents, including:

• Your ID

• Social Security number

• Pay stubs

• W-2 forms

• Federal income tax forms

• Bank account statements

You can apply online for a high-risk personal loan in just a few minutes once you have your materials ready. Your lender will let you know if you need to submit more documentation. In most cases, you’ll have a loan decision fairly quickly (some lenders advertise approval in minutes). If approved, you’ll likely have funds within one to three business days.

Alternatives to High-Risk Loans

You can also consider alternatives to high-risk loans, including:

• Payday alternative loans: Credit unions may offer their members short-term loans as an alternative to payday loans. Payday alternative loans (PALs) are divided into PALs I and PALs II. PALs 1 offer between $200 and $1,000 with a maximum APR of 28%, and one- to six-month repayment terms. PALs II offer up to $2,000, a maximum 28% APR, and one- to 12-month repayment terms.

• Family or friend loan: Family members or friends may be willing to lend you money. However, ensure that you can repay the loan in a timely manner so you don’t risk damaging the relationship.

• Get a cosigner: You can approach someone you know who has good credit to become a cosigner on your application to help you qualify for a standard personal loan. Make sure, however, that both parties involved understand that the cosigner is responsible for taking over your monthly payments if you default on repaying the loan. That’s a major commitment on your cosigner’s behalf.

• Look for “buy now, pay later” offers: These allow you to purchase an item and then pay it off on an installment plan, which may or may not charge interest.

• Build your credit: Perhaps it seems obvious, but building your credit can play a key role in helping you qualify for more favorable loans in the future. You might work on positively impacting the factors that determine your credit score or meet with a qualified credit counselor to learn strategies.

Recommended: Guide to Personal Loans

The Takeaway

High-risk personal loans can be a source of quick cash for people with a low credit score or a thin credit history. They can be risky for the lender, because there is a fair chance the borrower might default. They can also be risky for the person seeking the money because the interest rate, fees, and other terms may prove very expensive and/or involve potentially losing any collateral that might be put up.

If you are a high-risk borrower, it’s important to fully understand what these loans involve and the downsides if you cannot repay them on time. It may also be wise to review what options exist before you decide to apply for a high-risk personal loan.

If you’re seeking a standard personal loan, see what SoFi offers.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

FAQ

What is considered a high-risk loan?

High-risk loans are funds offered to individuals who may have bad or no credit. In exchange for accepting a higher-risk applicant, lenders typically charge higher APRs and fees and/or may require the borrower to put up collateral.

What type of bank offers high-risk loans?

Banks typically don’t offer loans to high-risk borrowers, though it may be worth checking with them before moving on to another type of lender. Those who do offer high-risk personal loans could be online lenders or a retail payday loan provider, for example.

What two types of loan should you avoid?

There are several types of loans you may want to avoid if possible, including car title loans and payday loans. Why? You will pay high interest rates which can trap you in a cycle of debt. Also, with a car title loan, you are using an asset as collateral, which means you risk losing your vehicle if you can’t repay the loan on time.

Photo credit: iStock/Eleganza

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOPL-Q324-008

Source: sofi.com

Apache is functioning normally

September 24, 2024 by Brett Tams

Professional monitoring for home security systems can have a hefty monthly cost but can be worth it if you have valuable assets, live in a high-risk area, travel or just want a hands-off experience. Professional monitoring often has added features such as medical alerts, home automation or insurance discounts.

How you monitor your home security system can also make a significant difference in its effectiveness. Self-monitoring and professional monitoring both have benefits and drawbacks, and the right choice depends on your home and safety needs.

Some home security systems, such as Blink and Nest, don’t offer professional monitoring, so they may not be options for those looking for hands-off protection.

Pros and cons of professional monitoring


24/7 emergency response.	Monthly fee.
Hands-off system management.	Potential long-term contract required.
Potential homeowners insurance discounts.	Giving a monitoring center access to your cameras may feel less private.

What does professional monitoring do?

Professional monitoring for a home security system provides 24/7 oversight for your home. When an alarm is triggered, it alerts the monitoring center immediately, which may call you to verify the alarm and see if you’re OK by asking you to provide a safeword.

If you don’t or can’t respond, the monitoring center can contact emergency services for you. Depending on the type of emergency, the monitoring company can send fire, police or medical responders to your home to handle the crisis.

Some professional monitoring services give the monitoring center live access to your cameras and even allow the staff to speak and listen through your devices. This can help them see if there’s actually a fire, for example, or tell an intruder directly that police are on the way. It can also reduce the risk of false alarms.

Professional monitoring vs. self-monitoring

The main differences between self-monitoring and professional monitoring are cost and who deals with things when the alarm goes off. Self-monitoring is usually free, but you are responsible for noticing that your alarm has gone off, and you have to alert the authorities yourself if you need help. Professional monitoring, on the other hand, usually costs money, but the monitoring company’s job is to notice when your alarm is going off and to get help in case you can’t do it yourself.

How much does professional monitoring cost?

Monthly professional monitoring fees start at around $20 and can cost as much as around $80. Some home security providers offer several professional monitoring plans with different features, such as video and life- safety monitoring.

Some providers offer professional monitoring month-to-month, and you can cancel, upgrade or downgrade your plan at any time. Others, like ADT, require customers to enter into a multiyear contract to access professional monitoring if their system is professionally installed. Vivint allows month-to-month payment unless you’re financing equipment.

Is professional monitoring worth it?

Here are three factors to consider.

1. Lifestyle and absence

If you’re usually home to respond to alerts, professional monitoring may not be worth the cost. However, if you travel frequently or are often away from home for work, professional monitoring ensures that someone will notice an emergency situation in your home, even if you’re not nearby or able to see alerts on your phone.

2. Insurance discounts

Many homeowners’ insurance companies offer discounts if you have a professionally monitored home security system because the added level of protection makes your home a lower risk for claims.

Typically, discounts can range from 5% to 20% off your annual premium, depending on your insurer and the specific features of your security system. To qualify for discounts, your system typically needs to include burglary, fire and carbon monoxide alarms, but specific requirements can vary based on your location and the insurance company’s policies.

3. Budget and contract

Professional monitoring may not be a fit for everyone’s budget. Consider the cost of a potential break-in against the cost of monthly fees. As an alternative, some providers offer paid self-monitoring plans that offer added features such as familiar-face detection and intelligent alerts at a lower cost, typically around $3 to $13 per month.

If you do choose professional monitoring, make sure to review the terms of the contract, including additional fees and the cancellation policy if there is one.

Best home security systems with professional monitoring

1. SimpliSafe

SimpliSafe Security System

View details

Professional monitoring monthly cost

$21.99

Self monitoring available for $9.99 per month. You can also access basic features with no plan.

View details

2. Abode

Abode Security System

View details

Professional monitoring monthly cost

$24.99

Self monitoring with extra features is $7.99 per month, but you can also use basic features for free.

View details

3. Ring

Ring Security System

View details

Professional monitoring monthly cost

$20

Other features/self monitoring available with plans starting at $4.99 per month. You’ll need at least the basic plan to arm and disarm your system remotely.

View details

4. Arlo

Arlo Security System

View details

Professional monitoring monthly cost

$24.99

Some sensor features not available without subscription. Self monitoring for cameras starts at $7.99 per month.

View details

5. Vivint

Vivint Security System

View details

Professional monitoring monthly cost

$41

Professional monitoring plan is required with equipment purchase; $46 per month if you have cameras.

View details

6. ADT

ADT Security System

View details

Professional monitoring monthly cost

$29.99 and up

Monthly monitoring rises to $44.99 with cameras and $34.99 with other smart home devices. A one-month minimum monitoring plan is required with self-install equipment purchase; a several-year contract is required with a professionally installed system. ADT also works with third-party dealers whose monitoring and installation fees may differ.

View details

Source: nerdwallet.com

Apache is functioning normally

September 22, 2024 by Brett Tams

The Best Western credit cards — previously issued by the First National Bank of Omaha, but closed to new applicants — are back with new benefits and a new issuer. The Best Western Rewards® Visa Signature® Card and Best Western Rewards® Premium Visa Signature® Card are now issued by First Bank & Trust and managed by financial technology company Mercury Financial.

Each card offers rewards on Best Western stays and other purchases. Beyond that, you’ll also get travel and cell phone protections, elite status and sign-up bonuses. However, the bonus offer amount you can qualify for may vary. You can check to see whether you’re preapproved for the cards without affecting your credit, and if so, you’ll see what bonus you’re eligible for.

Here’s how the two cards compare:

	Best Western Rewards® Visa Signature® Card	Best Western Rewards® Premium Visa Signature® Card
Annual fee
Bonus offers	10,000 to 40,000 points with qualifying spend.	20,000 to 80,000 points with qualifying spend.
	14 points per $1 on Best Western stays and purchases: 10 points as a Best Western Rewards member, 4 points for using the card. (The Best Western Rewards program is free to join.) 2 points per $1 on all other purchases.	20 points per $1 on Best Western stays and purchases: 10 points as a Best Western Rewards member, 10 points for using the card. 4 points per $1 at gas stations and grocery stores. 2 points per $1 on all other purchases.
Elite status	Automatic Gold status, which includes: 10% bonus points per stay. Exclusive reservation line. No blackout dates.	Automatic Platinum status, which includes: 15% bonus points per stay. Exclusive reservation line. No blackout dates. Early check-in and late check-out.
Other benefits	Earn 10,000 bonus points when you spend $5,000 in a year. Cell phone protection. Reimbursement for trip cancellations, interruptions and delays.	Earn up to two free night awards: one after your cardmember anniversary, and another after your cardmember anniversary when you spend $10,000 that year. Cell phone protection. Reimbursement for trip cancellations, interruptions and delays.

NerdWallet values Best Western points at about 0.6 cent each. You can redeem Best Western points for hotel bookings, gift cards, airline miles and more. You must redeem at least 5,000 points, and point values can vary based on how you use them.

What changed?

In short, not much is different for the no-annual-fee version of the Best Western credit card, beyond a slight bump in rewards for staying with Best Western. But it’s a different story for the more expensive Best Western Rewards® Premium Visa Signature® Card, which did indeed get some notable and valuable improvements.

For one thing, that version of the card now earns extra rewards on gas and groceries, which previously earned only the card’s base rate of 2x back. More importantly, the premium version also now offers a free anniversary night, as well as the chance to earn a second one — perks that can easily offset that card’s annual fee.

Source: nerdwallet.com

Apache is functioning normally

September 22, 2024 by Brett Tams

While Chicago has plenty of icons that draw travelers from near and far, true Chicagoans know exactly where to find unique adventures that will help you get to know the real Windy City. Maybe you are looking for a rental house in Chicago to test the waters, or you want to buy a home near the heart of the city, or maybe your goal is to find an apartment overlooking Lake Michigan. Regardless of what you are looking for, these 16 hidden gems in Chicago are bound to make you feel home.

1. Enjoy an iconic Chicago-dog at Jeff’s Red Hots

“When in Chicago, it is non-negotiable to eat a Chicago-Style Hot Dog.” Jeff’s Red Hots has been around since 1977, serving Chicago and its visitors one of the best hot dogs in the city. Whether you’re moving into the Portage Park neighborhood or just passing through town, grabbing a Chicago-Style dog from this local, family-owned business is an absolute must.

2. Raise a glass at Pops for Champagne

“As a wine expert in the Chicago area, my number one must-visit is Pops for Champagne,” says Sommelier Jane Norrington of See Jane Drink Wine. Pops is the oldest wine bar in the U.S. dedicated to champagne, offering over 150 champagnes and hundreds of other varieties of wines from across the world. “The staff is next to none, and their food menu offers perfect pairings for your glass. My favorite? A glass of Domaine de Bichery Blanc de Blanc paired with French fries and Dijonnaise.”

3. Meet new people and take in Lake Michigan by bike

“Bike the Drive turns Lake Shore Drive into a cyclists’ paradise,” says Mariya, owner and photographer at Mariya S Photography. She highly recommends the annual event that takes place at Butler Field in The Loop neighborhood. Thousands of people bike to and from a 15-mile stretch of Lake Shore drive that closes to traffic for cyclists of all ages. “It’s such a thrilling event – you’re surrounded by the coolest people biking along a gorgeous skyline and watching the sunrise over Lake Michigan,” says Mariya.

4. Get into the fall spirit with Jack’s Pumpkin Pop Up

“If you’re looking for a fun fall outing, check out Jack’s Pumpkin Pop Up on Goose Island,” shares WeLovePopUps, your go-to resource for the best seasonal pop ups in Chicago. They have everything from a corn maze to cute photo spots, carnival games, and tasty fall drinks. “The whole place just screams cozy autumn vibes, and it is a perfect way to soak in the season with friends.”

5. Make the most of an evening with a food tour

Lauren, owner of Stunning & Brilliant Events, a multi-city wedding planning team, recommends getting to know the flavors of Chicago with a food tour fit for any evening out on the town. “I suggest going for the king crab roll at Maple & Ash located in the Gold Coast,” says Lauren. “Then, pop over to The Bellevue across the street to sip and sit on the patio with their Greek salad. End the night at Adalina for a night cap – and don’t pass up their chicken parmesan pizza if it’s a Sunday.”

6. Discover Wonderverse, an immersive entertainment venue

There are countless things to do indoors and outdoors in Chicago, but Wonderverse is like entering a whole new world. Here is a little bit about them in their own words: “If you’re getting to know the city, make sure to add Wonderverse to your bucket list. Whether you’re looking for fun entertainment or virtuality experiences, Wonderverse has something for everyone. Enjoy NFL game days with platters and drink specials, test your knowledge with weekly trivia, or immerse yourself in themed events like our Halloween-inspired Hotel Transylvania Character Brunch. Wonderverse is the ultimate destination for family fun, food, and entertainment.”

7. Take a breath of fresh air at a nearby lake

“Escape the city for a day out on beautiful Lake Geneva with us at Lake Geneva Cruise Lines.” Take a day-trip to find the perfect cruise to fit the vibe you’re looking for. Offering numerous sightseeing and meal cruises, there is a one-of-a-kind boat tour for everyone on board. “Our narrated boat tours cruising through October are the best way to see the fall foliage around the lake and make for a fun fall adventure.”

8. Find amazing views and variety at the Museum Campus

Nate, portrait and lifestyle photographer at Nathaniel Smith Photographs, recommends exploring the numerous parks and museums in this unique area of the city. “The view of the city at night from the Museum Campus is unmatched. The museums are all top notch, it’s a perfect place to bike, and there are concerts at night in the summer at Northerly Island.”

9. Toast to a great evening with cocktails fit for a king

Get a mystical perspective at King of Cups Cocktail Lounge with a wonderful cocktail program sure to please any pallet. Located in the Lincoln Park neighborhood, dive into your future with one of their nightly tarot readings paired with a royal cocktail, or stop by for one of their amazing happy hours.

10. Get to know the city equipped with coffee and books

If you’ve just moved to Chicago and are a coffee enthusiast, Metric Coffee is the place to be. Located in the Industrial Corridor of the West Town neighborhood, they offer free cuppings and coffee tastings every Friday morning. Metric also suggests checking out MYOPIC Books in nearby Wicker Park. “This amazing bookstore is a local hidden gem for new and used books, and even hosts a variety of author events.”

11. Bring a taste of Michigan to your Chicago experience

Lola’s Coney Island in Humboldt Park is a prime example of the cuisine that makes Chicago one of the top places in the country to go for food. Grab a true authentic Coney-dog straight from Detroit, a classic Chicago-dog, or try one of Lola’s specially made hybrid versions.

12. The Windy City is only the beginning

On the local side, Andrew and Catie of Lesser Known Adventures recommend Ricobene’s for their famous steak sandwiches, but they love Chicago most for its close proximity to so much more. “Within an hour’s drive, you could be riding a roller coaster at Six Flags Great America or, if you’re a car enthusiast, checking out the largest collection of vintage and Hollywood movie cars at the Volo Auto Museum. And, if you’re in the mood for an epic road trip, Chicago is the starting point of the historic Route 66 – one of the best road trips in the world.”

13. Discover Christmas in Chicago

“Braving the cold is a Herculean task, but there is always something fun to make it worth it,” shares Joshua, manager of Overflow Coffee in the heart of the city. The Christkindlmarket, a German-style Christmas market for winter holiday fun. “They have great food, music, gifts, knickknacks, ice skating, spiced wine or hot chocolate served in collectible mugs, and tons of Christmas spirit. It is something you’ll want to make into a tradition for sure.”

14. Classic Italian comfort is just around the corner

Buona Terra Ristorante has been a beloved staple in the Irving Park community for the past 23 years. Best known for its authentic Italian cuisine and fresh, locally sourced menu, Buona Terra is perfect for a cozy dinner or a special occasion. It has become a favorite among Chicago residents as a delightful escape right in the neighborhood.

15. Attend one of the many neighborhood summer festivals

“Chicago is a city of neighborhoods,” shares travel blogger Travel With Meena, “each with a distinct character that comes through during these summer celebrations of local art, music, and food. Contribute to an interactive art piece or catch a canine fashion show at the Logan Square Arts Festival. Watch fire dancers, listen to local bands and sip on local brews at Wicker Fest, or dive into the city’s Scandinavian heritage at Andersonville Midsommarfest. This is the real Chicago.”

16. Marvel at the annual Chicago Air and Water Show

At the end of the summer, the Chicago Air and Water Show roars across the shore, bringing the largest free show of its kind in the U.S. to Lake Michigan. Susan, owner of local wedding planning company Big City Bride, says “It’s a perfect beach day to enjoy the lake when it’s at its warmest of the season. You can feel the electricity in the air when the Blue Angels rip through the sky.”

Hidden gems in Chicago: final thoughts

Whether you like to keep close to the heart of the city or embrace your adventurous side, living in Chicago will always have something exciting to offer. These hidden gems in and around the Windy City are sure to make Chicago feel more like home – regardless of how long you stay.

Apache is functioning normally

September 22, 2024 by Brett Tams

If you’re looking for a premium travel credit card, you might be weighing the value of American Express Centurion lounge access with Capital One lounge access. Centurion lounges have been around longer, offering high-end amenities for eligible cardholders since 2013. Capital One, meanwhile, recently launched its first lounges and is quickly building out its network.

The better choice depends on where you travel and what’s most important to you. My take: Both lounge networks have a lot to offer, but the Centurion Lounges by American Express edge out Capital One lounges.

Because there are more Centurion lounge locations, it’s more accessible for eligible cardholders. These lounges also offer premium drinks at no extra charge, unlike Capital One lounges.

Still, it’s a close competition. Capital One offers more convenient dining options. Once Capital One opens more locations, it could steal the title for the best airport lounge network from American Express.

Winner: American Express Centurion lounges

Capital One currently has three airport lounge locations — Dallas-Fort Worth, Denver and Washington-Dulles. In June 2024, it announced an upcoming lounge in New York-JFK to compete with the AmEx Centurion Lounge and Chase Sapphire Lounge by The Club.

The Centurion Lounge by American Express has 13 locations within the U.S.

These locations include:

Charlotte.
Dallas-Fort Worth.
Houston-IAH.
Los Angeles-LAX.
Las Vegas.
New York-JFK.
New York-LaGuardia.
Philadelphia.
San Francisco.

The Centurion World Lounge Collection also features lounges in 11 additional locations across the globe.

Ease of access

Winner: Tie

Access to the Capital One lounges and Centurion lounges is limited to eligible cardholders and their guests. While non-cardholders can pay an entrance fee, they must be accompanied by an eligible cardholder.

Though Centurion lounges offer more access options, Capital One lounges offer complimentary access for up to two guests without an annual spending requirement.

Capital One lounges

Through Dec. 31, 2024, Capital One Venture Rewards Credit Card and Capital One Spark Miles cardholders receive two complimentary lounge passes each year. Cardholders can use these passes for themselves or to bring a guest into the lounge with them. Starting in January 2025, there is a $45 fee per person for the cardholder and their guests who wish to enter the lounge.

How the cards compare

Capital One Venture X Rewards Credit Card

Capital One Venture Rewards Credit Card

Capital One Venture X Business

Annual fee

Welcome offer

Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.

Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.

Earn 150,000 bonus miles once you spend $30,000 in the first 3 months from account opening.

Still not sure?

American Express Centurion lounges

The Platinum Card® from American Express and The Business Platinum Card® from American Express cardholders receive complimentary entrance, but they must pay $50 for each guest ($30 for children ages 2 to 17). However, when you spend at least $75,000 each calendar year, you’ll earn complimentary access for up to two guests on each visit. Centurion cards still offer complimentary guest access for up to two people or immediate family members without the annual spending requirement.

In addition to Centurion and Platinum cards, AmEx customers who have the personal or business version of the Delta SkyMiles® Reserve American Express Card credit card also receive access to the Centurion lounge. However, these customers must be flying on an eligible Delta flight. They cannot enter the lounge when flying other airlines. Delta SkyMiles® Reserve American Express Card cardholders can bring up to two guests into the lounge. However, the charge is $50 for adults and $30 for children ages 2 to 17 years.

How the cards compare

The Platinum Card® from American Express

The Business Platinum Card® from American Express

Delta SkyMiles® Reserve American Express Card

Annual fee

Welcome offer

Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Terms Apply.

Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership. Terms Apply.

Earn 100,000 Bonus Miles after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Terms Apply.

Still not sure?

Meals and snacks

Winner: Capital One lounges

The Capital One lounges serve food in single-serving containers rather than traditional buffet dining. It also offers to-go items for travelers on the run, making it a more convenient option than Centurion lounges.

Although it costs money to have a premium travel credit card or pay for airport lounge admission, you save money by getting free meals inside. Capital One lounges and American Express Centurion lounges both offer delicious food for travelers, although the experiences are quite different.

Capital One lounges

(Photo by Lee Huffman)

Capital One lounges feature a “chef-inspired menu” with single-serving dishes that make it simple and easy for visitors to grab food. Walk up and select any of the available food and dessert items from the serving stations.

Food items vary throughout the day to correspond with breakfast, lunch and dinner. For travelers in a hurry, Capital One also offers grab-n-go items that they can take with them.

American Express Centurion lounges

(Photo by Lee Huffman)

Centurion lounges offer “fresh seasonal fare created by locally renowned chefs.” The food is served buffet-style, so you can take as much or as little as you’d like. Items are updated as trays get empty and change throughout the day.

Visitors can enjoy a delicious meal and top it off with delicious dessert items.

Drink options

Winner: Centurion lounges

Lounges typically offer craft cocktails, local craft brews and assorted beverages. Centurion lounges offer complimentary premium beverages, while Capital One lounges charge for orders beyond domestic beers, house wines and well drinks.

Capital One lounges

(Photo by Lee Huffman)

Capital One lounges offer complimentary beverages to visitors. However, if you want premium drinks, there may be an additional charge.

American Express Centurion lounges

(Photo by Lee Huffman)

When ordering a drink at a Centurion lounge, all beverages are complimentary. So, treat yourself to top-shelf liquor, artisan wines or craft beer without worrying about ringing up a huge tab. Although Centurion lounge drinks are free, remember to tip the bartender.

Other amenities

Winner: Tie

Capital One lounges offer dedicated workout and multi-faith rooms, while Centurion lounges offer massages, manicures and other amenities that vary by location.

Aside from food and drinks, premium lounges offer other amenities to make your visit special. Amenities vary by location, but you may be able to book a conference room, shower, sleep pod and other goodies.

Capital One lounges

(Photo by Lee Huffman)

Capital One sets itself apart by offering a dedicated workout space that features Peloton bikes and a view of the runway. It also has a multi-faith room for travelers who wish to pray, meditate or have a quiet moment of reflection before their flight.

American Express Centurion lounges

(Photo by Lee Huffman)

Visitors to the Centurion lounge may be able to spoil themselves with a massage or manicure in between flights. These amenities typically require booking an appointment ahead of time, so plan ahead so you don’t miss out. Some locations also offer other amenities, like a pool table or shuffleboard, to help pass the time in between flights.

Additional lounge access for cardholders

Winner: American Express

In addition to accessing the Capital One lounges and Centurion lounges, eligible cardholders have access to other lounge networks. American Express takes the edge as it partners with more lounge operators than Capital One.

Capital One

The Capital One Partner Lounge Network includes complimentary access to more than 1,300 Plaza Premium Lounges and Priority Pass lounges for eligible cardholders and up to two guests. To enter Plaza Premium lounges, just show your eligible Capital One credit card and your boarding pass.

For Priority Pass lounges, you must enroll by visiting its website and entering your credit card number.

American Express

The American Express Global Lounge Collection includes more than 1,400 airport lounges across 140 countries. In addition to Centurion Lounges, cardholders have access to Escape Lounges, Delta Sky Club, Lufthansa, Plaza Premium Lounges and Priority Pass Lounges.

Travelers can access the Escape Lounges, Plaza Premium Lounges and Priority Pass lounges for free and bring up to two guests at no additional charge. However, Priority Pass access requires manual activation through the benefits section of your American Express account or by calling AmEx customer service.

Access to the Delta Sky Club and Lufthansa lounges requires a same-day boarding pass for the respective airlines. Effective Feb. 1, 2025, Hawaiian Airlines® Business Mastercard® and The Business Platinum Card® from American Express cardholders are limited to 10 visits to Delta Sky Club lounges per year.

To view rates and fees of The Platinum Card® from American Express, see this page.

To view rates and fees of The Business Platinum Card® from American Express, see this page.

To view rates and fees of the Delta SkyMiles® Reserve American Express Card, see this page.

How to maximize your rewards

Source: nerdwallet.com

Apache is functioning normally

September 21, 2024 by Brett Tams

JetBlue announced on Sept. 19 that it would open two new airport lounges and launch a premium credit card.

This move is JetBlue’s latest effort to differentiate itself in a competitive space. By adding a premium lounge experience and credit card, JetBlue can better capture more of the high-spend traveler market while continuing to cater to budget-conscious flyers. Still, JetBlue is much smaller and has a limited route network compared with American Airlines, Delta Air Lines or United Airlines, so its offerings might be relatively niche, appealing only to a specific set of JetBlue flyers.

Who can access JetBlue’s new lounges?

This plan is the airline’s first move into a standalone lounge experience, responding to growing customer demand for the “highly requested perk.” Each lounge will feature complimentary refreshments, high-speed Wi-Fi and quiet areas designed for travelers.

Complimentary access will be available to:

JetBlue will also sell day passes and an annual pass, though details on pricing and eligibility have yet to be finalized.

Airport lounges are in high demand

JetBlue’s future lounges won’t be the only new options at JFK or BOS. Airlines and banks are moving away from relying on third-party lounge networks like Priority Pass, opting instead to invest in branded spaces that allow for greater control over the customer experience. In 2024 alone, JFK saw some new lounges and plans, including:

Capital One Lounge: In June 2024, Capital One announced it would open a 13,000-square-foot lounge in Terminal 4; an opening date hasn’t been shared.
Delta One Lounge: The largest Delta lounge in the world, located in Terminal 4, opened in June 2024.

Chase also opened a Sapphire Lounge by The Club in BOS in 2023 and Delta added a nearly 21,000-square-foot Sky Club last year, in addition to two others that were already there.

This underscores other airlines’ commitment to branded lounges, as well as ways that banks are increasingly getting into the airport lounge space. More lounge options are welcomed, especially as overcrowding has become a notorious issue among even among the most upscale lounge offerings.

JetBlue’s new premium card benefits

While details are scant, JetBlue has already made it clear its new premium card will include lounge access for the cardholder and a guest. JetBlue’s current credit cards are all issued by Barclays, which will also issue this forthcoming card.

With only two lounges planned so far, it’ll be interesting to see at what price point JetBlue lands with its upcoming card and what other benefits will come with it. It’s unknown if lower-tier cardholders will have discounted or limited lounge access.

It’s worth noting that several premium cards include Priority Pass Select membership to access over 1,600 Priority Pass lounges around the world. While quality varies, it’s a way issuers offer airport lounge access when cardholders travel beyond a smaller lounge network. If it’s not a perk of JetBlue’s new card, it’ll be a tough sell to enter two specific lounges unless the other benefits are truly stellar.

How to maximize your rewards

Source: nerdwallet.com

Apache is functioning normally

September 21, 2024 by Brett Tams

While not a typical top-of-mind destination, Cincinnati, OH, has a number of hidden gems just waiting to be discovered. Nestled on the bank of the Ohio River and a stone’s throw from Kentucky, the Queen City has so much to offer its residents and visitors. If you’re making the move to a new home in Cincinnati, OH, passing through Ohio in a rental home, or trying to find the perfect apartment in the city, you’re bound to find a new favorite hang-out in this list of 12 hidden gems in Cincinnati.

1. Take in the innovation and variety of a Somerset cocktail

Truly a unique venue, Somerset cocktail bar and lounge in the Over-the-Rhine neighborhood hosts three distinct spaces in one: a cozy, library-like lounge, a glass-roofed conservatory, and a lush exotic garden. Enjoy one of their in-house crafted cocktails like their award-winning Ube Margarita while connecting with new friends and relaxing in whichever space fits your evening’s vibe.

Image courtesy of The Heritage Village Museum

2. Travel back in time at a living history museum

The Heritage Village Museum is the perfect place to immerse yourself in Cincy history. The museum is made up of 13 historic buildings, each with its own story and significance. With a number of tours and seasonal events to choose from, there is something for every visitor to enjoy throughout the year.

3. Fuel up for the day at TAG’s Cafe

Just 20 minutes from downtown Cincinnati, TAG’s Cafe features a full espresso bar alongside homemade breakfast, baked goods, lunch offerings, and more. Get your day started right with in-house dining or take it to go while you explore the city.

4. Stock your shelves at an independent bookstore

Among the beautiful buildings in the historic Columbia Tusculum neighborhood, you can find Bookery Cincy, an independent, book-lover-owned bookstore bringing the simple joy of reading to the city. This hidden gem of Cincinnati provides a welcoming spot for young and old readers alike to find their newest page-turner.

5. Grab a cone of small-batch, hand-scooped ice cream

“Cincinnati has a flourishing ice cream scene with lots of delicious options, and we are proud to be a part of that scene,” says Nate Henderson, co-owner of Gold Spoon Creamery. They pride themselves in making everything in-house and having something for everyone, including vegan and gluten-free options. Their love for Cincy’s rich history in art deco design shines through in their thoughtfully designed shop at Summit Park in Blue Ash.

6. Explore the variety of outdoor adventures in Cincy’s backyard

“One of the greatest things about Cincinnati is that we have a wonderful downtown city center, but drive 20 minutes and you can be transported to a whole different place,” says Amy, owner of Sweet Things Photography. “Our park system can’t be beat. Whether it’s Eden, Ault, or any of the other sprawling parks around the city, take some time to pack a picnic, walk your dogs, or play with your kids while soaking in the gorgeous surroundings.”

7. Taste a local beer from MadTree Brewing

No matter what your vibe is, MadTree Brewing has you covered. Spend an afternoon hanging out with friends at their award-winning Oakley Taproom and outdoor beer garden, or unwind with a seasonal menu in their beautiful Alcove restaurant in the heart of OTR.

8. This hidden gem will make any day a Saturday

Children’s book author Kristy High recommends adding Saturday Morning Vibes Cereal Bar to your Cincinnati bucket list of unique things to do. “This amazing spot has cartoons, video games, and a variety of over 70 cereal mixes to enjoy,” says Kristy. “They even host storytimes for the kids, author events, and other community driven projects.”

9. Indulge in the simple joy of bubble tea

Whether you are a tea enthusiast searching for the perfect afternoon pick me up or a casual wanderer drawn in by the pastel-painted storefront, Boba Angel is ready to welcome you in with their variety of creamy drinks crafted with care. Enjoy a classic milk tea or a more adventurous concoction, like their lavender matcha with honey-soaked boba, in this cozy community hub in the heart of Cincinnati.

10. Find a meal for everyone at Ruth’s

Ruth’s Parkside Cafe in the legendary Northside community offers great dining in a fun, eclectic atmosphere. “Food unites us all,” shares Rob from the Ruth’s team, who affirms that there’s something for everyone at the Ruth’s dinner table. Whether you’re looking for a plant-based meal, or you’re more of a carnivore, there are a number of fantastic options on their versatile menu.

11. Thrift some used books to support the local library

The Friends of the Public Library of Cincinnati share their Used Book Warehouse, a true hidden gem and book lovers’ paradise just north of Cincinnati proper. Proceeds from purchases from their massive collection of used books, music, movies, puzzles, and more support the nationally-ranked Cincinnati Public Library system.

12. Tap into Over-The-Rhine history at The Lackman

Once owned by brewer Herman Lackman, this turn-of-the-century Cincinnati bar joins historic charm with vibrant nightlife, a perfect gathering spot for locals who appreciate both the old and the new. Sip local brews and rare bourbon at The Lackman in the heart of the Over-The-Rhine district.

Hidden gems of Cincinnati: Why the Queen City should be at the top of your list

There is no doubt that these 12 hidden gems will help you get to know Cincinnati and make it your home in no time. Sometimes, the most wonderful adventures await in places we least expect to find them. With cozy spots to grab a drink and relax, history embedded in every community, and unique places to explore, life in Cincinnati is truly a hidden gem worth exploring.

Apache is functioning normally

September 21, 2024 by Brett Tams

Once your small business starts earning a profit, you have to decide if you should distribute those profits to yourself (and any other owners) or reinvest them back into the business.

While it can be tempting to pocket your company’s profits, funneling at least some of that money back into the business is worth considering.

For one, reinvesting can help improve the company or expand operations, leading to even higher profits down the line. For another, reinvested money is generally considered a business expense, which means you likely won’t have to pay income taxes on it.

Read on for a closer look at why you may want to reinvest a percentage of your profits back into your business, how this can impact your business taxes, and ways you might use profits to help expedite business growth.

What Constitutes a Business Profit?

Profit is the money a business pulls in after accounting for all expenses. Any profits earned funnel back to business owners, who can choose to either keep it as earnings, distribute it to shareholders as dividends, or reinvest it back into the business.

Whether you own a small dog grooming business or a multinational corporation, the main goal of any business is to earn money. Thus, a business’s performance is based on profitability. For accounting purposes, companies will often report gross profit, operating profit, and net profit (the “bottom line”).

Recommended: How to Read Financial Statements: The Basics

What Are Businesses Taxed On?

Any profits that aren’t reinvested in a business are typically taxed as income. How that tax is paid depends on the structure of the business.

Most small businesses are pass-through entities, which means that the gains or losses are passed through to the owners on their personal income tax returns. Corporations, on the other hand, pay a flat tax on business profits.

Recommended: 10 Steps to Starting a Small Business

Types of Business Taxes

When we refer to “taxes” for a business, we’re actually using an umbrella term for many different types of taxes a business may have to pay. Let’s take a closer look.

Income Taxes

Income taxes are based on the net income of your business for the tax year. Net income is the same thing as profit (income minus expenses). If you share a business with others, the net income is divided among the owners based on your business agreement. Most small businesses pay both federal and state income taxes.

Estimated Taxes

Employees have taxes withheld from their paychecks, but as the owner of your business, no one is withholding taxes from the money you take out of the business.

Instead, you need to file estimated taxes throughout the year based on the income you have earned up to that point in the year. Typically, federal and state estimated tax payments are due on April 15, June 15, September 15, and January 15 for the previous tax year.

Self-Employment Tax

Employees generally have Social Security and Medicare taxes withheld from their paychecks. If you are a self-employed business owner, however, you must calculate and pay your own Medicare and Social Security tax through self-employment taxes.

Excise and Sales Taxes

Depending on which state you operate in and what type of goods or service you sell, you may need to set up a system to collect sales tax from your customers and report and pay that tax to your state.

You may also need to pay federal and local excise taxes. An excise tax is a legislated tax on specific goods or services, such as fuel, tobacco, and alcohol.

Payroll Taxes

If you have employees, you must withhold payroll taxes from their paychecks and pay applicable federal, state, and local taxes. The taxes usually withheld from employee paychecks include FICA (Medicare and Social Security taxes) and federal, state, and local income taxes. Employers and employees each pay half of the FICA tax.

Recommended: 3-Year Business Plan Structure

How to Reduce Taxable Income

As a business owner, there are many strategies you can use to reduce the portion of your business income (or profits) that can be taxed. Here are some you may want to consider.

Reinvesting Business Profits Into the Business

Reinvesting means retaining net profits (the income left over after all operating costs and overhead are paid) and investing them in activities or expenses that can help increase the value of the business. As a business expense, reinvested income generally isn’t taxable.

You may, however, want to reinvest only a portion of your profits and look for other ways to infuse capital into the business, such as applying for a small business loan. Interest paid on business loans is typically tax deductible as a business expense.

Finding Deductions

There are numerous business tax deductions you may qualify for and, when you add them all up, they can amount to a significant reduction in your taxable business income. Here are some of the most common small business deductions:

• Inventory

• Business property rent

• Startup costs

• Utilities

• Company vehicle expenses

• Insurance

• Rent and depreciation on equipment and machinery

• Office supplies

• Furniture

• Advertising and marketing

• Business entertainment

• Travel expenses

• Interest paid on all types of small business loans

Tax Audits

As a small business owner, it makes financial sense to explore all your options for reducing your tax bill. However, when it comes to deductions, you need to be careful. It’s particularly important, for example, to keep your business and personal expenses separate. If your deductions look suspicious to the IRS, the agency could potentially audit your business.

Investing in Employees

One great way to reduce your company’s taxable income is to invest in your employees. Generally speaking, any wages, bonuses, or other compensation you pay your workers in a given year are tax deductible as a business expense. That includes any fringe benefits you offer — such as gifts, health plans, and employee discounts — as well.

Rewarding your workforce can do more than lower your tax liability, however. It can also help boost their morale, increase productivity, attract the top talent, and grow your business.

Choosing Purchases and Investments Wisely

While it’s clearly important to invest in your business, the question remains: Where should you focus your funds? Here are a few purchases and investments you may want to consider.

• Equipment: It can be smart to reinvest profits into new machinery and equipment as your current assets age and become expensive to maintain. Upgrading equipment can increase efficiency and help you stay on the cutting edge of your industry.

• Software: Investing in software, such as payroll and accounting software, can help streamline tedious tasks and free you up to focus on more important matters, such as growing your business.

• Inventory: In some cases, using business profits to buy more inventory can be a smart business move. If you often sell out of popular products, for example, beefing up inventory can help you capture sales you’ve been missing out on.

• More marketing: You might consider hiring a marketing professional or agency to help create buzz about your business, improve search rankings, and expand your customer base.

Recommended: Business Cash Management, Explained

Tax Planning Strategies

One of the best ways to make your business tax efficient is to pay attention to tax credits and not just deductions.

Tax credits are particularly valuable because, unlike deductions, which reduce your taxable income, credits reduce your tax bill on a dollar-for-dollar basis. For example, if your small business owes $25,000 in taxes, a $5,000 tax credit means you can subtract $5,000 from your tax bill and only owe $20,000.

There are a number of tax credits your business might qualify for, including:

• Credit for Small-Business Health Insurance Premiums

• Employer Credit for Paid Family and Medical Leave

• Work Opportunity Credit

• Credit for Increasing Research Activities

• Disabled Access Credit

• Credit for Employer-Provided Childcare Facilities and Services

• New markets credit

The Takeaway

It takes hard work to establish and grow your business. Once you’re able to cover all your expenses, pay yourself a salary, and still have money left on the table, it may be time to consider putting that extra money into your business.

Reinvestment means pouring a percentage of your company’s profits back into your business. It can be a great way to increase the value of your company and to help your company grow. What’s more, reinvesting can reduce your business tax liability at the end of the year, for the ultimate win-win.

If you’re seeking financing for your business, SoFi can help. On SoFi’s marketplace, you can shop top providers today to access the capital you need. Find a personalized business financing option today in minutes.

With SoFi’s marketplace, it’s fast and easy to search for your small business financing options.

FAQ

How much is a small business able to make before paying taxes?

A small business generally must pay taxes on any profit it earns, but the specific amount before paying taxes depends on deductions, credits, and the business structure. For self-employed individuals, income over $400 is subject to self-employment tax, while other tax obligations vary by income and state laws.

What does the 20% business tax deduction do?

The 20% business tax deduction, part of the Qualified Business Income (QBI) deduction, allows eligible small businesses to deduct up to 20% of their qualified business income from their taxable income. This reduces their overall tax liability, promoting business growth and investment.

What is a business write-off?

A business write-off is a tax deduction that allows businesses to subtract certain eligible expenses from their taxable income. Common write-offs include operating costs, rent, supplies, meals, startup expenses, employee salaries, and more. These deductions reduce the overall tax liability by lowering the business’s reported income.

Can you invest business profits to avoid taxes?

Yes, you can reinvest business profits into the company to reduce taxable income, but you cannot avoid taxes as a small business owner. While reinvesting can lower taxes, it doesn’t fully eliminate tax obligations, as profits are still subject to applicable tax laws and limits.

Photo credit: iStock/Andrii Yalanskyi

SoFi’s marketplace is owned and operated by SoFi Lending Corp. See SoFi Lending Corp. licensing information below. Advertising Disclosures: SoFi receives compensation in the event you obtain a loan through SoFi’s marketplace. This affects whether a product or service is featured on this site and could affect the order of presentation. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

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Source: sofi.com

Apache is functioning normally

September 21, 2024 by Brett Tams

Fiji is a true Pacific paradise with two main islands and several smaller islands with stunning scenery and resorts large and small.

As the country’s tourism numbers grow, so do the number of international hotel brands with popular loyalty programs. This means vacationers (or those looking to work remotely in the tropical breeze) have plenty of options.

Most of the familiar resort brands are in the Denarau area, which is about 20 minutes from Nadi International Airport, although there are others. If you’re looking for a great option for a trip to Fiji, a destination whose motto is “Where happiness comes naturally,” here are some of the best hotels in Fiji to consider.

ALL – Accor Live Limitless

ALL – Accor Live Limitless is the loyalty program from the Accor brand, which offers the chance to earn points during a stay or redeem them for cash discounts. Accor has some of the best hotels in Nadi, Fiji, like the Novotel Nadi near the airport and Mercure Nadi, which are budget options without direct beach access.

Sofitel Fiji Resort & Spa

(Photo courtesy of Accor)

Sofitel is an upscale and luxury brand from Accor that leans into its French heritage and is one of the best hotels in Fiji. Its properties around the world offer French cuisine, style and even a French welcome of “bonjour.”

The Sofitel Fiji Resort & Spa enjoys a beachfront location, an enormous swimming pool, family activities with an organized kids club and teenage club, a nightclub and a beachfront seafood restaurant.

Because of the way ALL points are redeemed, there is no award chart for redemptions. Instead, members use their points to reduce the cost of their overall bill by about $45 (40 euros) for each 2,000 points redeemed.

Hilton Honors

With two resorts to choose from, Hilton Honors members can select between a property in the Denarau area or on Sonaisali Island. Coming soon is another of Hilton’s many brands when a Hilton Garden Inn eventually opens in the capital city of Suva.

Hilton Fiji Beach Resort and Spa

(Photo courtesy of Hilton)

This Denerau property enjoys seven swimming pools, a kids club and a private stretch of beach. Nearby shopping and dining make this a popular location for tourists. Hilton Honors uses a dynamic pricing model, which means the cost in points can vary depending on the room type and date.

On the random dates we checked, the average price for an award stay was 55,000 points.

DoubleTree Resort by Hilton Hotel Fiji – Sonaisali Island

(Photo courtesy of Hilton)

The DoubleTree Resort by Hilton Hotel Fiji – Sonaisali Island overlooks the Mamanuca Islands and is about 25 minutes from the international airport. To reach the resort, a three-minute boat ride takes guests from the main island of Viti Levu to Sonaisali Island.

While the rate for a redemption night at this resort varies by date, on average, it is around 40,000 points per night.

And of course, all arrivals receive the famous DoubleTree by Hilton cookie as a special bonus.

IHG One Rewards

IHG has several properties in Fiji representing several of its brands. In addition to two resorts near Nadi, there are two hotels in the capital city of Suva. A Six Senses is also coming to the country soon, representing IHG’s luxury resort partnership.

Crowne Plaza Fiji Nadi Bay Resort & Spa

(Photo courtesy of IHG)

The Crowne Plaza Fiji Nadi Bay Resort & Spa on Wailoaloa Beach counts seven swimming pools among its roster of amenities, including one dedicated exclusively for adults and another with a swim-up bar. Some of the resort’s two-bedroom suites also have direct pool and beach access from the guest room.

Since IHG uses dynamic pricing for its award redemptions, the cost in points will vary based on the dates of your stay. On the random dates we checked, a one-night standard room redemption started at 44,000 points.

InterContinental Fiji Golf Resort & Spa

(Photo courtesy of IHG)

InterContinental Fiji Golf Resort & Spa is another option for earning and redeeming those valuable IHG One Rewards points. Its 35 acres lie along Natadola Beach, which is protected by a natural reef that gives the water an incredible blue color.

IHG One Rewards uses a dynamic pricing model for award redemptions, and on the random sampling of dates we checked, the rate was between 47,000 and 51,000 points per night.

Marriott Bonvoy

The Marriott Bonvoy program has many properties in Fiji. All of them are on the main island with the exception of Sheraton Resort & Spa, Tokoriki Island, which is only partially open because of renovations. Westin Denarau Island Resort & Spa is closed for updates with plans to open in 2025.

Sheraton Fiji Golf & Beach Resort

(Photo courtesy of Sheraton)

Sheraton Fiji Golf & Beach Resort is one of the major players along Denarau Beach, and its impressive convention facilities keep its various wings busy with group business. Beachfront swimming pools, including one reserved for adults, have a beautiful view, and the resort recently added beachfront cabanas. The various grass lawns between the accommodation buildings also have lounge chairs for those seeking extra privacy.

Marriott Bonvoy uses dynamic pricing, and the cost of a room night will vary based on the date. For example, a one-night redemption on the dates we checked cost 46,000 points.

Fiji Marriott Resort Momi Bay

(Photo courtesy of Marriott)

Perhaps the darling for Marriott Bonvoy in Fiji is Fiji Marriott Resort Momi Bay, which is the only resort on the mainland to offer overwater villas. These are in a lagoon, which makes them a little different from what you might find in the Maldives, for example, which are in the open ocean.

On the dates we checked, a standard room went for 44,000 points, based on Marriott’s dynamic pricing model.

Radisson Rewards

Fans of Radisson will find its branding in Denarau, but a second property will open when the Radisson Blu Mirage Resort, Fiji Naisoso Island, opens in 2026.

Radisson Blu Resort, Fiji Denarau Island

(Photo courtesy of Radisson Blu)

The Radisson Blu Resort, Fiji Denarau Island is spread across 10 acres with a private beach, sprawling pools, towering palm trees and waterfalls. Families will love the kids club plus four pools, one of which has a whitewater tunnel slide.

Radisson Rewards uses a dynamic pricing model that determines the number of points based on the room rate. On the dates we checked, the average number of points for a one-night redemption was about 132,000 per night.

World of Hyatt

Hyatt’s acquisition of Mr & Mrs Smith brings a new country to its destination list. There are three properties that participate in the partnership and give World of Hyatt members a chance to earn and redeem points.

Royal Davui Island Resort Fiji

(Photo courtesy of Hyatt)

This adult-only all-inclusive resort is on a private island with only 16 suites in individual villas, each with private terraces and whirlpool tubs.

World of Hyatt is alone in that it still uses an award chart to price redemptions, but Mr & Mrs Smith properties use dynamic pricing. This means you won’t be able to score a super-high-value redemption since you will be paying in points a rate that is tied to the cash rate.

Credit cards for booking stays in Fiji

If you want to bank a bunch of points quickly to get you to Fiji sooner rather than later, consider opening a credit card that earns points you can redeem at the properties you’re interested in. Here are a few options:

Hilton Honors American Express Card

IHG One Rewards Premier Credit Card

on Chase’s website

Marriott Bonvoy Bountiful™ Card

World of Hyatt Credit Card

on Chase’s website

Annual fee

Welcome offer

Earn 100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership. Offer ends 1/8/2025. Terms Apply.

Earn 140,000 Bonus Points after spending $3,000 on purchases in the first 3 months from account opening.

Earn 85,000 Bonus Points after you spend $4,000 in purchases in your first 3 months from your account opening.

Earn up to 60,000 Bonus Points. Earn 30,000 Bonus Points after you spend $3,000 on purchases in your first 3 months from account opening. Plus, up to 30,000 More Bonus Points by earning 2 Bonus Points total per $1 spent in the first 6 months from account opening on purchases that normally earn 1 Bonus Point, on up to $15,000 spent.

Still not sure?

Terms apply.

How to use miles to get to Fiji

While no U.S. carrier flies to Fiji, you can get to the best luxury hotels in Fiji via its national airline, Fiji Airways, which flies to Los Angeles, San Francisco and Honolulu with plans to add Dallas/Fort Worth soon.

The airline will soon use American AAdvantage as its loyalty program. This means members will be able to earn and redeem American miles as well as Loyalty Points and elite status when flying Fiji Airways. For example, a one-way flight in business class from the U.S. to Fiji costs 80,000 miles using AAdvantage miles. Once in Fiji, you can also use miles to connect to other islands or regions of the South Pacific.

To view rates and fees of the Hilton Honors American Express Card, see this page.

How to maximize your rewards

Source: nerdwallet.com

Apache is functioning normally

September 20, 2024 by Brett Tams

Do you want to get paid to give advice? A few years ago, I never would have thought that giving advice could turn into a way to make extra money. But after starting my website and sharing what I knew about personal finance, I quickly realized that I could make extra income. It’s amazing how…

Do you want to get paid to give advice?

A few years ago, I never would have thought that giving advice could turn into a way to make extra money. But after starting my website and sharing what I knew about personal finance, I quickly realized that I could make extra income.

It’s amazing how your skills, whether they’re in medicine, cars, law, tech, relationships, or anything else, can become a profitable business. I love helping others and, at the same time, earning money from what I enjoy!

In this article, I’ll go over:

Ways to get paid to give advice
Type of professionals that get paid to give advice
How to get paid giving advice online

How To Get Paid To Give Advice

Here’s a list of 16 ways to get paid to give advice.

1. JustAnswer

JustAnswer is a site that pays people to give advice and answer questions in different fields such as legal, tech, medical, veterinary, antique appraisers, and more.

If you’re an expert in a field that people usually have questions in, you can monetize your expertise on JustAnswer by sharing your expert opinion.

You may be wondering what kind of questions are asked on JustAnswer. Here are a few examples:

How much is my antique worth?
How can I lower my business taxes this year?
What can I do if a sinus infection won’t go away?
How do I fix my car’s alternator?

To get started on JustAnswer, you need to go through an application process (with a background check) and get verified that you’re an expert by providing proof of qualifications like degrees, certifications, or other relevant experience.

Recommended reading: 21 Ways To Get Paid To Answer Questions

2. Start a blog

I run a personal finance blog and share advice all the time (and I get paid for it!). Starting a blog is one of the best ways to share your expertise while creating a reliable source of income.

Sharing your expertise and knowledge with a blog is a great way to diversify your income. You can make money blogging by:

Affiliate marketing (where you get a commission when people make purchases through your links)
Advertising revenue
Sponsored content
Selling services like coaching
Selling products like books or courses

One of the keys to successful blogging is choosing a niche or topic that you’re both passionate about and that has an audience who wants to learn more.

Here are some popular blog niches you can try, depending on your expertise:

Education and career – If you have experience in teaching or career coaching, this niche can focus on helping others with their career goals, job interviews, or study techniques.
Personal finance – Share tips on budgeting, saving, investing, and side hustles. Many people are looking for ways to improve their finances.
Health – Topics like fitness, nutrition, mental health, and self-care are helpful.
Travel – If you love traveling, you can start a travel blog, sharing tips on budget travel, destination guides, family travel, or even remote work opportunities.
Parenting – This niche covers a wide range of topics, from newborn care and toddler tips to advice for teenagers. You can also write about balancing parenting and work or homeschooling.
Food – Share recipes, meal planning tips, or diet-specific content (e.g., vegan, keto, gluten-free).
DIY and crafts – Whether it’s home improvement, crafting, or upcycling projects, this niche is popular among creative individuals looking for inspiration and guidance.
Lifestyle – A lifestyle blog covers several areas like home decor, fashion, personal growth, and productivity.
Tech – If you’re knowledgeable about tech, you can give advice on the latest gadgets, software, app reviews, and even tutorials for beginners.
Beauty – This is a highly popular niche where you can share makeup tips, skincare routines, and product reviews.
Relationships – Help readers improve their relationships or personal growth by sharing advice on communication, self-improvement, or career development.

You can learn how to start a blog in the free How To Start a Blog Course.

3. Create an online course

If you’re looking for a passive way to make money by giving advice, creating an online course is a great way to do so.

My sister runs a popular online course and has done very well with it. Over the years, she has helped thousands of people with her business advice for website owners.

You can create a course on topics such as:

Meal planning and prep – Teach people how to plan meals, prep ingredients, and create healthy, budget-friendly meals.
Parenting tips – Help with topics like raising toddlers, managing screen time, or improving sleep.
Home organization – Help people declutter, organize their homes, and create better living spaces.
Fitness and wellness – Share workouts, stretching routines, or mindfulness practices like meditation or yoga.
Photography basics – Teach people how to use their camera or phone to take better photos. I recently saw a course teaching parents how to take better family photos with their phone, and it looked so helpful!
Gardening for beginners – Guide people through starting a garden, caring for plants, and growing their own fruits and veggies.
DIY home projects – Sell lessons on simple home improvement or crafting projects, like building furniture or making home decor.
Travel planning – Share tips on planning budget-friendly vacations, packing efficiently, and finding fun destinations.
Pet care – Teach new pet owners how to care for their animals, including training, nutrition, and grooming tips.

You can sell your online course on your website or course websites like Udemy, Skillshare, or Teachable (Teachable is my favorite course platform).

4. Answer surveys

You won’t get rich by answering surveys, but it’s an easy way to make money by giving your opinion.

Market research companies pay survey sites to find users to complete surveys for them. These paid online surveys help companies make better products and services.

Here are some of the recommended survey companies to sign up for:

American Consumer Opinion
Swagbucks
Survey Junkie
InboxDollars
Branded Surveys

Recommended reading: 12 Best Online Surveys For Gift Cards

5. User Interviews

User Interviews stands out from most market research companies because, rather than paying for typical online surveys, it specializes in focus groups.

This means they seek more detailed feedback from participants on different products and companies. Their studies are usually conducted via phone or video interviews, with the average study paying over $65.

Large companies like Spotify, Pinterest, GoPro, and Amazon use User Interviews to collect market insights. The platform runs over 2,000 studies each month, and last year alone, more than 77,000 participants were paid.

Michelle (my sister as well as the owner of this blog) participated in a focus group through User Interviews and earned $400 for just one hour of work. She said it was simple, and the entire process was completed online through a video call.

You can click here to sign up for free with User Interviews.

6. Financial advisor

Financial advisors are trained professionals who give financial advice to clients. You can make money as a financial advisor by charging fees for your services, receiving commissions on financial products, or both.

A financial advisor may help with financial planning, retirement, wealth management, insurance, investments, savings, and more.

To become a financial advisor, you need a combination of education and certifications. To get started, you’ll need a bachelor’s degree in finance, economics, accounting, or related field. You’ll also need an internship or entry-level job in finance, banking, or financial planning to get hands-on experience. Most importantly, you’ll need to get certified as a Certified Financial Planner and pass the licensing exams.

As of this writing, the average Certified Financial Planner’s salary is between $66,000-$122,000 a year.

7. Business consultant

One way to make money by giving advice is to start a consulting business and become a freelance consultant.

A business consultant is someone who uses their expertise to help companies improve their business, income strategy, and profitability.

Consultants get paid either by hourly rate, project-based fees, or retainer agreements. Business consultants can also make money by conducting training sessions and workshops for more money.

Business consultants are in high demand as businesses are always looking for ways to improve and make more money.

8. Personal trainer

If you love fitness and working with people, you can try making money as a personal trainer.

Getting a NASM personal trainer certification, which is one of the top certifications in the field is helpful. This is where you’ll dial in form, workout routines, and many other important fitness-related skills.

As a personal trainer, you can make money with one-on-one sessions, group classes, and even online training programs. Trainers typically charge per session or have package deals for multiple sessions. You can also make money by creating workout programs that people can purchase online.

9. Online coach

You can make money working as an online coach through digital platforms.

Some areas that you could coach on include:

Life coaching
Relationship coaching
Business coaching
Fitness coaching
Career coaching

As an online coach, you can make money with one-on-one coaching sessions, group coaching, or self-paced courses that people can buy directly from you. You can charge people one-time fees, package deals, or ongoing membership subscriptions for continued access to your guidance.

To grow your income, you can use social media platforms to build your brand and get people to trust you, such as by sharing helpful free tips in graphics or captions.

10. HelpOwl

HelpOwl is a platform where you can get paid to give advice online to individuals seeking help with different topics.

To get started with HelpOwl, register on the website and set up your profile. Your profile should showcase your expertise, skills, qualifications, and areas of advice.

You can also determine your fee structure for providing advice whether it’s per session or question.

11. Quora

You’ve likely heard of Quora since it’s a goldmine for getting any kind of question answered, but did you know you can make money with Quora?

Yes, it is possible to make money on Quora through a few different strategies.

Quora has a partner program that lets you make money by asking questions that generate high traffic and engagement to their website. You can get paid based on the ad revenue generated from the questions you ask.

Quora’s partner program is great for anyone who wants to become an online advice giver as you can share your honest opinion or answer a question in a simple comment.

12. Start a podcast

You can make money selling advice through a podcast.

This method of selling advice takes a lot of work but can be worthwhile if successful.

If you want to start a podcast to give advice, there are many great topics to choose from. You could talk about personal finance, relationship advice, or career coaching. Health and wellness podcasts are popular too, where you can cover fitness, mental health, and self-care. Parenting tips for new parents, small business advice, or life coaching are also good ideas. You could even share tech help, home improvement tips, or legal advice.

Whatever you pick, your podcast can help people improve their lives.

Once you build up your following, you can make money with ads and different sponsorships on your podcast episodes, along with affiliate links.

13. Start a YouTube channel

Starting a YouTube channel is another great way to get paid for giving advice, especially if you enjoy talking on camera.

I turn to YouTube all the time when I’m looking for answers and advice. It’s a helpful resource where I can find detailed explanations on just about any topic. Whether I need tips on personal finance, blogging, or even tech solutions, there’s usually a video that walks me through the steps. I love how I can watch experts in action, and it’s a great way to learn something new quickly and visually.

With YouTube, you can create videos in your area of expertise and build an audience of subscribers who value your knowledge. Whether you’re skilled in personal finance, cooking, fitness, or any other niche, there’s probably an audience looking for advice in a YouTube video.

To make money on YouTube, you can monetize your channel through:

Ads: Once you reach YouTube’s eligibility requirements, you can earn money from ads that play during your videos.
Sponsorships: Brands may pay you to promote their products or services in your videos.
Affiliate marketing: Include affiliate links in your video descriptions, earning a commission when viewers make purchases through your links.
Selling products or services: You can also use YouTube to promote your own products, courses, or consulting services.

Consistency is key on YouTube, so creating valuable, engaging content that resonates with your audience will help grow your channel and income over time.

14. Share advice on Fiverr

Fiverr is a great spot to sell your advice if you’re looking for an online job.

I searched on Fiverr and found 2,200 listings where people were offering to give advice. The topics included things like relationship advice, tax advice, fantasy football advice, blog advice, business advice, and more.

You simply create a profile and a listing where you share the type of advice you specialize in.

15. Website testing (such as with UserTesting)

Website testing is a simple way to make money by sharing your advice and providing feedback on the website user experience.

There are several well-known website testing sites including UserTesting, TryMyUI, and Userlytics. These sites connect you with people looking for user feedback on their websites and apps.

By using website testing platforms, selling expert advice, and building a strong reputation, you can successfully make money through website testing and sharing your insights.

16. Mystery shopping

Mystery shopping is a fun way to give your advice and feedback on a customer service experience, product, or store operations.

As a mystery shopper, your feedback tells companies how well their employees are treating customers, if customers are happy, and if any operational problems need fixing.

There are three different ways to make money mystery shopping including:

Cash and reimbursement (you’ll get paid to do the mystery shop, plus get the service/product for free).
Cash payment (an example would be a phone call mystery shop when you don’t buy anything).
Reimbursement (an example would be a restaurant secret shop – these typically don’t pay any money except for receiving free food).

BestMark is one of the biggest mystery shopping companies with a great reputation, and they have many different kinds of mystery shopping jobs available. Ath Power Consulting is another well-known mystery shopping company that has over 500,000 secret shoppers. They complete over 10,000 mystery shops each month, and they work with many popular companies.

Recommended reading: Want To Make An Extra $100 A Month? Learn How To Become A Mystery Shopper

Frequently Asked Questions

Below are answers to common questions about how to get paid to give advice.

Can you get paid for giving advice?

Yes, you can get paid for advising in many ways such as consulting (people pay for advice on specific topics), coaching (people paying for expertise in a certain area, like business, relationships, career, and life), and content creation (monetize your advice through blogs, podcasts, social media).

What type of professionals make money by giving advice?

The kinds of professionals getting paid to give advice include:

Consultants
Coaches
Financial advisors
Legal advisors
Counselors
Health experts
Tutors
Real estate agents
Educators
Creative professionals
Entrepreneurs
Public speakers

As you can see, the list is endless. By using the skills and knowledge you have, you can likely get paid to provide practical and personalized advice to people.

Can I sell life advice?

You can sell life advice if you have valuable life experiences that other people find helpful to learn from. People tend to hire life coaches, mentors, and advisors to help them with life challenges, achieve goals, and find purpose in their lives.

You can make money selling life advice in several ways including:

One-on-one coaching sessions
Online courses
Books
Blogs
Podcasts
Social media accounts

It’s important to identify your niche and who you want to help. For example, your target audience may be women looking for a career change or people who need help with relationship advice. Focusing on a specific niche will help you stand out from others and market your services more efficiently.

How can you get paid to give advice online?

There are many ways to get paid to give advice from your laptop. JustAnswer is a great way to get started getting paid to give advice and connect you to people seeking help in your field.

If you’re looking for a passive way to make money giving advice, create an eBook, course, blog, or podcast. You can make money by selling your products, advertising, using affiliate links, or creating sponsored content.

Can you get paid to give relationship advice online?

You can get paid to give relationship advice and dating advice by working as a relationship coach through platforms like BetterHelp (as a therapist) or via your own website. You’ll need specific credentials to work on sites like BetterHelp and Talkspace, whereas having a relationship blog doesn’t require certifications, but may be harder to make money at the beginning of starting your business.

How To Get To Give Advice – Summary

I hope you enjoyed this article on how to get paid to give advice.

If you have knowledge in a specific area, you can turn that into a business by giving advice. Whether it’s in fields like medical, legal, tech, personal finance, or relationships, there are many ways to get paid for your skills.

Plus, you can do this either part-time or full-time, so you can choose what kind of hours you want to work.

Do you want to get paid to give advice?

Recommended reading:

Source: makingsenseofcents.com