2% back no AF from SoFi - Data Points

[notmyrealname23]

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@CreditCuriosity wrote:

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@MoneyBurns wrote:

Does anyone have info for those of you who have Sofi points, how many points does a direct deposit give? Is there a minimum amount that needs to be deposited; and do they give more points the more DD you have (e.g., bi weekly vs monthly)?

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Curious on min redepemption threshold as well.. Sure it is in the Terms and Conditions of the card, but yet to look it up..  Will try to do later today if min redemption threshold which most likely there is, what it is I do not know currently.  

edit:  actually not seeing any min redemption threshold from what I can see.. Yet to play with it to see as still awaiting the card, but have got points for just logging in daily... Think I am at a whopping .70 cents...

Anyways document can be seen here..    SOFI CREDIT CARD REWARDS

edit no min.  Just transferred 70 sofi points to sofi money from logging in day for 7 days on app and $1.40 got transferred into SOFI money so kinda nice no redemption thresholds and get $1.40 a week without any spend if willing to just login to app each day plus other ways of getting points.

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Yeah, essentially you're getting the equivalent of over 7k in spend on a 2% CB just for holding the card (if you make it to the 2x bonus for enough consecutive logins). Or if you put around $7,000 in spend through this card in a year, you have an equivalent to a 4% no annual fee card.

I also just dumped $5 and change to the SoFi Money part of my account, so there's indeed no minimum. I am calling this card the leader in the clubhouse for my %2 cashback card:

- it's a MC World Elite so some nice benefits with it (cell phone insurance, fancy hotels, rental car insurance)

- It's 2% with no annual fee but with extra cashback if you're "engaged" with the SoFi app on a regular basis

- no minimum redemption

- no international fees (this is big for me once I start traveling overseas again)

- not issued by Synchrony so (hopefully) less flaky/squirrelly

[Credit12Fico]

How soon does the card show as new account with the bureaus? Is it on the first statement closing? Or right after approval?

[cashorcharge]

I know it's "not right after approval"...that was over a week ago and nothing reported yet. 

[Credit12Fico]

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@cashorcharge wrote:

I know it's "not right after approval"...that was over a week ago and nothing reported yet. 

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Thank you!

Can the card be "locked" from the mobile app and does the card get the push notifications for purchases like the debit card?

[cashorcharge]

I don't know that yet @Credit12Fico, sorry.  My account was recently approved and the card is somewhere out there in the magical land known as the USPS.  With the holidays and the delays they talk about on the news, I am guessing the estimated date they provided me for when the card would arrive is likely a bit behind schedule.

[notmyrealname23]

You have to call to lock the card. I try not to run push notifications on my phone so I don't know about that.

[macinjosh]

Question, for those who were approved for the SoFi Mastercard, have any of you received your physical card yet in the mail? I haven't gotten mine yet.

[trant3]

Received mine today, took a very long time.

[macinjosh]

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@trant3 wrote:

Received mine today, took a very long time.

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Thank you. That reassures me that it's just delayed because of Christmas and New Years.

[notmyrealname23]

I got mine a couple of weeks back.