(Post has been updated with earning rates and point values) SoFi has launched early access to ‘SoFi Rewards‘, currently this program is invite only (SoFi Credit Card, SoFi Ambassadors, and other randomly selected members). Points can be redeemed for cash into SoFi Money, towards SoFi Loans, into stock with SoFi active invest and also as a statement credit towards SoFi Credit cards.
Points can be earned from the following activities:
- Point amounts from the app:
- 10 – Enroll in SoFi Member Rewards
51– Daily app login (update 1/6/21: Reduced from 5 to 1)- 5 – 4+ consecutive login
- SoFi Credit Card
- 1/$1 – Spend on Credit Card
- SoFi Money
- 50 – Recurring deposit posted
- 100 – First time sending money to a friend
- 5 – Send money to a friend (weekly)
- 50 – Activate SoFi Money Card
- 100 – Set up bill pay (first payment)
- 100 – First check deposit
- SoFi Relay
- 100 – Sign up for Credit Score Monitoring
- 10 – link debt account to SoFi Relay
- 5 – link spending account to SoFi Relay
- 5 – link investment account to SoFi Relay
- 5 – Recategorize a transaction in SoFi Relay
- 5 – Create a tag in SoFi Relay
Seems points are worth 1¢, but everybody currently has a 2x multiplier making them worth 2¢ each.
