Originally Posted by
MSPeconomist
If the credit only applies to *prepaid* FHR rates, be careful as these generally don't earn any points and elite/promo nights credits in most major hotel programs while the normal FHR rates (typically with 48 hours cancel terms and no deposit, just a credit card to hold the reservation) do earn. Of course, if you're staying in an independent hotel, this wouldn't matter.
This is incorrect, at least for Marriott and Hilton. I have never stayed at a Hyatt FHR but reports in the Vegas thread suggest you can also credit and receive elite benefits for Hyatt too.