SoFi recently announced a new partnership with Mastercard to issue a co-branded card, as part of that announcement they stated that the SoFi Money debit card would also become a Mastercard. There is now a F.A.Q with more information stating this will be a World Mastercard and come with the following benefits:
- Cell phone protection. Can receive up to $200 per claim with a $25 deductible on up to two claims per year when you use your card to pay your cell phone bill
- Mastercard airport concierge with a 15% discount.
- Other standard Mastercard World Benefits, for example:
- Mastercard golf
- Purchase assurance
- Extended warranty
New users will begin to receive a Mastercard on February 20th, 2020. Existing users will receive a Mastercard in late February or early April. Existing cards will stop working on May 15th, 2020. SoFi Money card also earns 20% back on Lyft purchases.
