SoFi Personal Loan Post 2022 CFA or Not?

Kenro · ‎03-25-2025

Has anyone got a personal loan from SoFi after they became a bank in 2022? Does it still code as CFA or not?

FlaDude · ‎03-26-2025

My understanding is that it is hard to determine. The CFA code doesn't show up directly on your credit report. The only way to know is if a user who has no CFA accounts got a recent SoFi loan, and then started getting the CFA reason code. This also assumes their score/profile is good enough that the CFA reason code is displayed and not buried by more significant reason codes.

Scores: March 21 FICO 8: EX 810, TU 808, EQ 813
AoOA: closed: 40 years, open: 30 years; AAoA: 14 years
Amex Gold, Amex Blue, Amex ED, Amex Delta Blue, Amex Hilton Surpass, BoA Platinum Plus, Chase Freedom Unlimited, Chase Amazon, Chase CSP, Chase United Explorer, Citi AA, Sync Lowes, total CL 203k

TRC_WA · ‎03-29-2025

@Kenro

I believe it does. I had a loan from 2023 and one of the reasons I saw on myFICO for my scores being lower is "CFA."

If only you could explain things to creditors on your report. I got the loan when I was making $80k a year... and at the end of 2023 got new job with a boost to $200k. Would have never gotten the loan if I knew that 8 months later I would more than double my income.

FICO8 current as of : 2-1-26 EQ: 713 TU: 702 EX: 705
Hard INQs last 12 months: EQ: 1 | TU: 2 | EX: 1
Verizon Visa $8500 Amex Delta Gold $10,000 Care Credit $18,000
NFCU CashRewards $13,500 Apple Card $7000 Best Buy $8000 Amazon $5000
STCU auto loan (2026 Hyundai Palisade Hybrid) 6.24%
HDFS motorcycle loan (2024 Harley Davidson Road Glide) 9.45%
Total CL: $70,000 --- Total CC UTI: 31% --- AAoA: 6.5 years --- Income: $257k
Last app: 1-31-26

FlaDude · ‎03-29-2025

@TRC_WA wrote:

I believe it does. I had a loan from 2023 and one of the reasons I saw on myFICO for my scores being lower is "CFA."

Thanks for first hand info. Unfortunately, the CFA reason doesn't go away when the loan is paid off. They apparently keep reporting until they drop off your report in 10 years. I had 2 (possibly 3) CFA loans 5-6 years ago, paid off for over 4, and still get the reason code.

Scores: March 21 FICO 8: EX 810, TU 808, EQ 813
AoOA: closed: 40 years, open: 30 years; AAoA: 14 years
Amex Gold, Amex Blue, Amex ED, Amex Delta Blue, Amex Hilton Surpass, BoA Platinum Plus, Chase Freedom Unlimited, Chase Amazon, Chase CSP, Chase United Explorer, Citi AA, Sync Lowes, total CL 203k