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Ethan
Ethan

Churnable? Doesn’t look like it according to the terms but mixed DPs. Anyone have anything recent?

adam d
adam d

approved 5k 11/16/22. upgraded from money to their checking account, bonus did not post yet.

Dave
Dave

“apply 50% or more of your loan proceeds directly to your creditors“

Is this just standard wording for SoFi or do they actually check what you do with your loan before you get your bonus?

Yukun
Yukun

Received a slightly different targeted (?) offer today.

Terms and conditions apply. Offer good for new personal loan customers with credit cards in their name only and subject to lender approval. To receive the offer, you must: (1) register and/or apply through this landing page; (2) complete a loan application with SoFi within 90 days of your application submit date; (3) meet SoFi’s underwriting criteria; (4) apply 50% or more of your loan proceeds directly to your creditors. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount. Offer good for new customers only. Cannot be combined with other rate discounts with the exception of the 0.25% autopay rate discount, 0.25% direct deposit discount, and 0.125% member discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice. It takes about 3 business days for your credit card lender to receive payment after your loan is signed. You will be responsible for making all required payments to avoid credit card fees.

Matty Rex
Matty Rex

Strange! I got a targeted email today, similar, but without the annoying “apply 50% or more of loan to creditors” fine print. My offer:

You can get a $600 welcome bonus* deposited in a SoFi Money® or SoFi Checking and Savings account when your SoFi Personal Loan funds (offer ends 12/31/22).

*$600 Welcome Bonus Offer: Terms and conditions apply. Offer is subject to lender approval. The offer is only open to new SoFi Personal Loan borrowers and may not be combined with other offers aside from the autopay discount and direct pay discounts. To receive the offer, you must:

(1) register and apply through the link provided in this email before 12/31/22 at 11:59pm ET;
(2) sign and fund a personal loan with SoFi;
(3) have or apply for a SoFi Checking and Savings or SoFi Money® account to receive the bonus within 60 days after starting the personal loan application;
(4) and meet SoFi’s underwriting criteria.

Once conditions are met and the loan has been disbursed, your welcome bonus will be deposited into your SoFi Checking and Savings or Money account within 30 calendar days.

No bonus yet...???
No bonus yet...???

Did the $300 referral with a family member ($300 for me, $300 for them). The loan posted Monday, but neither of us has seen the $300 bonus. Has anyone else had this problem?

Jeremy
Jeremy

“Welcome bonus for a SoFi Personal Loan, the loan must still be an active loan in good standing ninety (90) days after the disbursement date”

binaryinfo
binaryinfo

I got the loan posted today, but didn’t see the bonus. This is my second time doing this, and I still see my first-time loan (showing a $0 balance because I paid off quickly) under my personal loan account. It seems the bonus almost always posted on the same time with the loan, so this got me worried. Anybody in the same boat? PS. I did receive the target email for the $600 bonus.

Jeremy
Jeremy

“Welcome bonus for a SoFi Personal Loan, the loan must still be an active loan in good standing ninety (90) days after the disbursement date”

Yukun
Yukun

Where do you see that language? I got a loan offer in my e-mail but nothing mentions early repayment.

ps
ps

does this count against 5/24. i just got an email for it . Also what is the minimum i have to ask for to be eligible for this offer ? Thanks in advance.

Dan
Dan

Data point: Applied yesterday AM, loan funded PM, loan disbursement and $600 bonus both posted today. I do not yet see an option to make a payment.

MC
MC

The details/payment options weren’t visible for me until the application tracker was closed…ymmv, even then it was dodgy at times

thefirstrule

All of you that got the loan and paid the balance in full: what does credit history / score respond to that? What does that look like on there? Does the paid off account still count toward your average age of accounts (which would be good over time)? Etc. Does the score drop then go up as it would from getting a loan and making payments over an extended period of time like normal?

Or if anyone knows if this is already covered somewhere on DoC, lmk?

Alex_the_Churner 🔗

no score drops for me (two month passed so far). I paid loan in full on next day. FIKO about 750. 31/24.

Dan
Dan

How did you pay the loan in full? I don’t see an option to transfer, and only an autopay option?

Jack
Jack
everythingbagel
everythingbagel

Does SOFI request income verification docs? I’m assuming the answer is yes based on the posts below regarding linking to your bank account.

Alex_the_Churner 🔗

not for me. got instant approval

Dan
Dan

Mixed, no for P1 yes for P2