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Man, just for FYI if anyone is thinking about i. The SoFi Mastercard is quickly becoming one of my favorite cards for use. Great app and notifications and pretty dang good rewards! So glad I got this card when I did!
@bigseegar wrote:Man, just for FYI if anyone is thinking about i. The SoFi Mastercard is quickly becoming one of my favorite cards for use. Great app and notifications and pretty dang good rewards! So glad I got this card when I did!
And on the other side, I am thinking of closing mine. Around 50% of the time, my foreign transactions are declined. Only once did I get a fraud alert allowing me to indicate it was mine, the rest just silently fail. Then it takes around 40 minutes on the phone trying to get an explanation and solutions that don't really work.
Yesterday I was told that once a fraud alert is cleared, it takes the server around 24 hours to update and during that period other transactions will likely also be declined. So great Fintech technology!
Probably stick with the 1.8% citizens for foreign transactions, the extra 0.2% isn't worth the hassle for me!
@bigseegar wrote:Man, just for FYI if anyone is thinking about i. The SoFi Mastercard is quickly becoming one of my favorite cards for use. Great app and notifications and pretty dang good rewards! So glad I got this card when I did!
Just curious what the rewards are other than 2% back (which is not uncommon any more) and 3% the first year (probably equal to a regular sign-up bonus, +/-)? Looks like another bank/investment account(s) to open and taking statement credit is .5cpp.
@ptatohed wrote:
@bigseegar wrote:Man, just for FYI if anyone is thinking about i. The SoFi Mastercard is quickly becoming one of my favorite cards for use. Great app and notifications and pretty dang good rewards! So glad I got this card when I did!
Just curious what the rewards are other than 2% back (which is not uncommon any more) and 3% the first year (probably equal to a regular sign-up bonus, +/-)? Looks like another bank/investment account(s) to open and taking statement credit is .5cpp.
>> has the limitation you only get the full 2% if it's redeemed into the SoFi ecosystem. You still can get the 2% as cashback when deposited into their savings/checking.
@ptatohed wrote:
@bigseegar wrote:Man, just for FYI if anyone is thinking about i. The SoFi Mastercard is quickly becoming one of my favorite cards for use. Great app and notifications and pretty dang good rewards! So glad I got this card when I did!
Just curious what the rewards are other than 2% back (which is not uncommon any more) and 3% the first year (probably equal to a regular sign-up bonus, +/-)? Looks like another bank/investment account(s) to open and taking statement credit is .5cpp.
Lots of free money/promos? And frankly "oh noes I have to open an account, eek, panic" is overrated as far an I am concerned, ACH transfer to/from wherever works just fine, also uses Plaid to connect to bank accounts.
I actually use my SoFi account to do regular investing since SoFi supports fractional shares. Makes it super easy to just put $50 each paycheck into stocks/ETFs for saving. I've also used the card a bunch outside the US, no declines. But if it doesn't work for you... more for me I guess?
Frankly the card beats Citi DC and Fidelity Visa (no international transaction fee, I hold a Fidelity Visa that this card has basically sock drawered) as a 2% card. Also includes some features like cell phone coverage.
@notmyrealname23 wrote:
@ptatohed wrote:
@bigseegar wrote:Man, just for FYI if anyone is thinking about i. The SoFi Mastercard is quickly becoming one of my favorite cards for use. Great app and notifications and pretty dang good rewards! So glad I got this card when I did!
Just curious what the rewards are other than 2% back (which is not uncommon any more) and 3% the first year (probably equal to a regular sign-up bonus, +/-)? Looks like another bank/investment account(s) to open and taking statement credit is .5cpp.
Lots of free money/promos? And frankly "oh noes I have to open an account, eek, panic" is overrated as far an I am concerned, ACH transfer to/from wherever works just fine, also uses Plaid to connect to bank accounts.
I actually use my SoFi account to do regular investing since SoFi supports fractional shares. Makes it super easy to just put $50 each paycheck into stocks/ETFs for saving. I've also used the card a bunch outside the US, no declines. But if it doesn't work for you... more for me I guess?
Frankly the card beats Citi DC and Fidelity Visa (no international transaction fee, I hold a Fidelity Visa that this card has basically sock drawered) as a 2% card. Also includes some features like rental car coverage that Citi and Fidelity have nerfed.
Interested in "lots of free money/promos". What does that include?
@notmyrealname23 wrote:
I've also used the card a bunch outside the US, no declines. But if it doesn't work for you... more for me I guess?
FWIW: my declines are when I am in the US, on foreign websites. This MIGHT be more suspicious than being abroad and making transactions abroad (but I use my AR for that anyway!) But as you suggest, if the card works well for you, it's a good card, better than Fidelity which I have also S/D. But my concerns, for me, are real....
That's odd. Almost all foreign Merchants will run "Mastercard Secure code" when processing US credit cards which is basically 2FA with the bank. That gets you a text message to verify that it's you. Does that work for you?
@Credit12Fico wrote:That's odd. Almost all foreign Merchants will run "Mastercard Secure code" when processing US credit cards which is basically 2FA with the bank. That gets you a text message to verify that it's you. Does that work for you?
As I said, just once (and that was outside my usual pattern, a Singapore website supporting a charity in PNG). The card that works (Citizens) never produces a text message either.
@ptatohed wrote:
@notmyrealname23 wrote:
@ptatohed wrote:
@bigseegar wrote:Man, just for FYI if anyone is thinking about i. The SoFi Mastercard is quickly becoming one of my favorite cards for use. Great app and notifications and pretty dang good rewards! So glad I got this card when I did!
Just curious what the rewards are other than 2% back (which is not uncommon any more) and 3% the first year (probably equal to a regular sign-up bonus, +/-)? Looks like another bank/investment account(s) to open and taking statement credit is .5cpp.
Lots of free money/promos? And frankly "oh noes I have to open an account, eek, panic" is overrated as far an I am concerned, ACH transfer to/from wherever works just fine, also uses Plaid to connect to bank accounts.
I actually use my SoFi account to do regular investing since SoFi supports fractional shares. Makes it super easy to just put $50 each paycheck into stocks/ETFs for saving. I've also used the card a bunch outside the US, no declines. But if it doesn't work for you... more for me I guess?
Frankly the card beats Citi DC and Fidelity Visa (no international transaction fee, I hold a Fidelity Visa that this card has basically sock drawered) as a 2% card. Also includes some features like rental car coverage that Citi and Fidelity have nerfed.
Interested in "lots of free money/promos". What does that include?
https://wallethacks.com/sofi-promotions-welcome-bonus/
https://support.sofi.com/hc/en-us/sections/4412029640461-SoFi-Credit-Card-Promotions
I've gotten a couple hundred in free money from them between opening and funding accounts and crypto transactions (that you can cash out pretty close to immediately) . Even $100 is the equivalent of 10k spend on a 3% credit card like AOD (that you can't get any more anyway). This one is nice because it has no international transaction fee and no annual fee as a 2% card and some OK insurance features. This is a rarer combination than you would think (Citi, PayPal and Fidelity have all nerfed various options in recent years in this regard for their 2% cards).
Since I use the trading account anyways having a bank account where any SoFi MC rebate goes to is really no big deal for me. But I'm not discounting anyone's experience, if you just hate having multiple accounts at financial institutions just to get a credit card rebate, or you're like longtimelurker and this card is giving you pain, do what's right for you.