Update 9/2/19: Deal available again
The Offer
- Get 50,000 Drop points – worth $50 in gift cards – when you signup for SoFi Wealth and invest $100 or more.
SoFi Wealth is a robo investment product like Betterment.
The Fine Print
- Must leave $100+ in the account for 90 days.
Our Verdict
Looks like a fairly simple moneymaker. Shouldn’t be any hard pull and not too difficult. You are probably adding another 1099 for tax time and of course every added account always comes with some hassle, but I imagine many readers will find this deal interesting.
Poking around in my Drop app, I can’t seem to find it, but multiple Reddit members are reporting this one. Not sure if it’s targeted or I just need to look better.
See our full review of Drop here. You can signup with our referral code doctorofcredit and get a $5 bonus if you also link a card. SoFi has also launched a new product called SoFi Money, you can read our review here.
If you have ever had a Sofi account, don’t sign up for this offer through Drop. Even though the terms clearly state “Must be your first time using Sofi Active Investing” and not “Must be your first time using Sofi”, Drop does not award credit (at least according to the unhelpful customer disservice agent Chris.
Thanks Chris, this is the last time I’ll ever use Drop.
Did you actually have to invest the $100, or did you get it with just deposit? Seems like old promo triggered with just a deposit but I’m trying to figure out if this is different than that one..thanks
This app is a real PITA to use, especially on my cell phone, where I can’t log in no matter what I do. I even tried to create a new account… nothing, the password for this account won’t work either. Just received an email response saying that they know there are sign-in issues; which I had to complain in order to get (wouldn’t it be nice if they sent that email out regardless)? I’m also not exactly turning handsprings to see that their Twitter account has apparently never been used once by the company.
I have a 40K offer instead of 50K.
I got the offer requirements but for the Sofi Active Investing. https://imgur.com/ZcnfCrn
I opened Drop account using Doc referral today and got $5 worth points.TY!
Unfortunately Sofi Active Investing is only for Citizens/Green Card holders and I’m not both. Hit a dead end. https://imgur.com/fdHBGZL
Just use the search bar at the top. I show 50k for Sofi and 40k for Sofi Wealth.
This is what I showed as well in Drop… 50K for Sofi “Active Investing” (Self-directed investing) and 40K for Sofi “Wealth” (Robo-investing). Why they make this so difficult to differentiate I do not know.
These are different from the $50 SoFi money accounts….
I have the offer on iOS but for 40,000.
I’m not sure if this would stack with the SoFi Money referral bonus. If not, you may want to consider that instead – you also get $50, but in cash, and it only requires a $100 deposit; no investment:
https://www.doctorofcredit.com/sofi-money-2-25-account-25-referral-bonus-for-both-members/
You can do both, they stack.
How would you do both? Don’t both require you to use two unique links? One through Drop, one through referral?
Sofi Money & Sofi Wealth have two different signup processes, per se, but the same login. But in theory, you can stack them. I am testing the waters on that myself. I won’t be able to confirm or deny for another 6 weeks as I went for the Drop/Sofi Wealth, after doing Sofi Money via referral.
Opened account 12/15/2018. Past my 90 days now. Opened a support ticket.
10/23/2018: Account funded with first $100.
01/29/2019: 50,000 points deposited.
Note: I had gotten a quote on a loan a long time ago, so I was worried that my having a log-in “account” would be an issue. Apparently not. I also messaged them 01/23/2019 to inquire, and they said then that it could take up to 90 additional days to post but this was quick. Points could be immediately cashed out for Amazon gift card credit, as usual.