SoFi Credit Card has a policy of issuing no credit limit increases. Period.
That reminded me of Capital One's "bucketed" accounts, which rarely give credit limit increases due to the fact that they are securitized, so I looked into whether that was the reason for SoFi's flat no-CLI policy.
And sure enough, that appears to be the exact reason: SoFi relies primarily on securitization to finance its lending:
https://www.sofi.com/blog/how-sofi-makes-money/
This gives me pause about continuing to hold a SoFi credit card.
@SouthJamaica wrote:SoFi Credit Card has a policy of issuing no credit limit increases. Period.
That reminded me of Capital One's "bucketed" accounts, which rarely give credit limit increases due to the fact that they are securitized, so I looked into whether that was the reason for SoFi's flat no-CLI policy.
And sure enough, that appears to be the exact reason: SoFi relies primarily on securitization to finance its lending:
https://www.sofi.com/blog/how-sofi-makes-money/
This gives me pause about continuing to hold a SoFi credit card.
I'm now crossing it off any I will ever apply for.... 
12/22 : 
@Suzette2 wrote:
@SouthJamaica wrote:SoFi Credit Card has a policy of issuing no credit limit increases. Period.
That reminded me of Capital One's "bucketed" accounts, which rarely give credit limit increases due to the fact that they are securitized, so I looked into whether that was the reason for SoFi's flat no-CLI policy.
And sure enough, that appears to be the exact reason: SoFi relies primarily on securitization to finance its lending:
https://www.sofi.com/blog/how-sofi-makes-money/
This gives me pause about continuing to hold a SoFi credit card.
I'm now crossing it off any I will ever apply for....
I'm going to stop using it, and will either sock drawer or close it. Closing it would increase my average credit limit, but decrease my total available limits.
@SouthJamaica wrote:SoFi Credit Card has a policy of issuing no credit limit increases. Period.
That reminded me of Capital One's "bucketed" accounts, which rarely give credit limit increases due to the fact that they are securitized, so I looked into whether that was the reason for SoFi's flat no-CLI policy.
And sure enough, that appears to be the exact reason: SoFi relies primarily on securitization to finance its lending:
https://www.sofi.com/blog/how-sofi-makes-money/
This gives me pause about continuing to hold a SoFi credit card.
Glad I was able to get a strong SL right from the get-go, so I don't have to worry about CLI requests. Though it would have been nice to know I could app for one if I had wanted to. Oh well..
@Remedios wrote:
@SouthJamaica wrote:SoFi Credit Card has a policy of issuing no credit limit increases. Period.
That reminded me of Capital One's "bucketed" accounts, which rarely give credit limit increases due to the fact that they are securitized, so I looked into whether that was the reason for SoFi's flat no-CLI policy.
And sure enough, that appears to be the exact reason: SoFi relies primarily on securitization to finance its lending:
https://www.sofi.com/blog/how-sofi-makes-money/
This gives me pause about continuing to hold a SoFi credit card.
Why pause?
Was this application simply for utilization padding? $7500 can buy a lot of stuff, it's not peanuts
I don't like the idea of approving someone for a credit card, and then abandoning the relationship. I know securitization is common, but according to the article I read SoFi takes it to a whole new level, relying on it almost as its exclusive method of financing.
For me, I only used this card for my Cell Phone monthly bills. Have to used that cell phone protections benefits.
