2% back no AF from SoFi - Data Points

[ccquest]

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@adelphi_sky wrote:

What caught my eye is that you can only redeem the cash on SoFi financial products. I don't have a loan with them and I don't invest with them. The card is "OK" if you're already part of teh SoFi ecosystem. 

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Probably starting to sound like a shill at this point, but I only keep a small amount of money in the account. You can redeem to SoFi Money which is their no fee checking account which you can then very easily push out to any other bank which they connect between using Plaid so you don't even have to do test deposits. Are there easier 2% cards? Probably. But SoFi has a nice interface, nice app, has various bonuses throughout the year to get when you sign up for SoFi Money (it was $200 when I joined earlier this year), and makes it easy to transfer out. Plus no fees (like a good online bank should be).

[notmyrealname23]

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@ccquest wrote:

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@adelphi_sky wrote:

What caught my eye is that you can only redeem the cash on SoFi financial products. I don't have a loan with them and I don't invest with them. The card is "OK" if you're already part of teh SoFi ecosystem. 

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Probably starting to sound like a shill at this point, but I only keep a small amount of money in the account. You can redeem to SoFi Money which is their no fee checking account which you can then very easily push out to any other bank which they connect between using Plaid so you don't even have to do test deposits. Are there easier 2% cards? Probably. But SoFi has a nice interface, nice app, has various bonuses throughout the year to get when you sign up for SoFi Money (it was $200 when I joined earlier this year), and makes it easy to transfer out. Plus no fees (like a good online bank should be).

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Yeah, I'm with SoFi, but if SoFi is giving me free money (they offered bonuses for recurring investments, signup bonuses, buying crypto, etc.) then, duh, I'm taking the free money. Having their legacy cash account (.25% interest on checking, FDIC insured, no ATM fees ever, so I can use this overseas for cash- the ATM fee reimbursement literally happens in the app instantaneously when you pull out cash) makes them a no-brainer for me. I might not get the card because I'm already sporting a Fidelity Rewards VISA and PP MC, but on the other hand a no international fee card that's 2% and "not Synchrony" is pretty appealing to me.

[adelphi_sky]

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@notmyrealname23 wrote:

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@ccquest wrote:

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@adelphi_sky wrote:

What caught my eye is that you can only redeem the cash on SoFi financial products. I don't have a loan with them and I don't invest with them. The card is "OK" if you're already part of teh SoFi ecosystem. 

---

Probably starting to sound like a shill at this point, but I only keep a small amount of money in the account. You can redeem to SoFi Money which is their no fee checking account which you can then very easily push out to any other bank which they connect between using Plaid so you don't even have to do test deposits. Are there easier 2% cards? Probably. But SoFi has a nice interface, nice app, has various bonuses throughout the year to get when you sign up for SoFi Money (it was $200 when I joined earlier this year), and makes it easy to transfer out. Plus no fees (like a good online bank should be).

---

Yeah, I'm with SoFi, but if SoFi is giving me free money (they offered bonuses for recurring investments, signup bonuses, buying crypto, etc.) then, duh, I'm taking the free money. Having their legacy cash account (.25% interest on checking, FDIC insured, no ATM fees ever, so I can use this overseas for cash- the ATM fee reimbursement literally happens in the app instantaneously when you pull out cash) makes them a no-brainer for me. I might not get the card because I'm already sporting a Fidelity Rewards VISA and PP MC, but on the other hand a no international fee card that's 2% and "not Synchrony" is pretty appealing to me.

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Yeah. Just looking at their website, they have grown their product offerings over the years. I got a loan with them a long time ago and recently paid off a second loan. I see they have a crypto product.

[Curious_George2]

I got an email from SoFi today, saying the card is now open for apps from members. I have a loan from them but I don't think I ever put myself on the waitlist for the card. Looks like maybe they are trying to drum up demand by inviting all their members to app.

[ccquest]

Got the same thing as part of the daily digest this morning, curious to see what kind of limits they hand out to everybody now that it's more open.

[NoMoreE46]

@ccquest ,

So far I have seen approvals here of $6k and $10k.  Quite decent given the climate.

[Creditplz]

Just got an email to apply for their new 2% card, no AF.. anyone get this yet?

says "The SoFi Credit Card is issued by The Bank of Missouri (TBOM)"

[Anonymous]

See https://ficoforums.myfico.com/t5/Credit-Cards/2-back-no-AF-from-Sofi/m-p/6172707#M1752667

[blindambition]

So far there's only been one person post approval. Nobody really posting many invites.

[jnbowmar]

Just got an email from sofi inviting me to apply for their world elite mastercard, and noticed in a couple of threads people said they got a pre-approval email and we're approved.

My credit hovers around 600-630 all brueas fico 8 and I just can't imagine that I'm pre-approved has anyone gotten an invitation email and been declined?