I receive compensation for content and many links on this blog. American Express, Citibank, Chase, Capital One and other banks are advertising partners of this site. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners. I do not write about all credit cards that are available -- instead focusing on miles, points, and cash back (and currencies that can be converted into the same). Terms apply to the offers and benefits listed on this page.
SoFi is just too good. It’s a deal that’s been running throughout the month but I’ve held off writing about it until we started to see it pay off for everyone that’s doing it. And it’s paying off in a big way.
SoFi Money is a finance product that’s really aggressive getting new customers. It has no fees of any kind, and they’re offering a pretty good 1.6% APY in interest. And they even reimburse all ATM fees for withdrawls, so it’s convenient for pulling out cash anywhere. There’s no hard credit pull when you sign up, either.
Big SoFi Signup Bonuses
Most importantly there are two accounts you can sign up for. Each has a nice sign up bonus. And each one lets you refer friends and family and earn more cash doing so — they sign up, they earn money, and you earn money when they do it. Rinse, repeat with more friends and more family (and your friends and family do this, too). If you’re still getting along with your family after Thanksgiving this is a great project that everyone can rally around.
- SoFi Money: Deposit $100, receive a $25 bonus. Everyone you refer who funds a new SoFi money account gets you another $25 as well, up to $10,000 per year (and the year is almost over, your cap should reset soon).
- SoFi Invest: Deposit $1,000, receive $100 to invest. Everyone you refer who funds a new SoFi Invest account gets you another $100 as well, the same cap applies.
Big Lyft Bonus, Too
That’s good enough on its own, but would you believe they’ll give you up to $1000 back for Lyft spend too? Add your SoFi Money debit card to your Lyft profile and make it your default payment method. You’ll get 20% back on Lyft through February 18, 2020, up to $1000 (you won’t max out on the promo until you’ve spent $5000 in the next 3 months which is unlikely for most).
How to Do This
Opening the accounts takes just a few minutes. Getting your signup bonus takes just a few days. Referrals show up quickly as well. Your debit card should come in a week, and ATM fee reimbursements should process right alongside the withdrawal transaction fee.
Sign up online for SoFi Invest and for SoFi Money, then once you’ve created your account you will want to download their app (either from the app store or Google Play store) because you’ll want to pull up your profile in order to find your referral link and start referring friends and family.
All of the free money they’re giving away has to be the deal of the year. Investors have started demanding a path towards profit from startups, not just user growth, so let’s take advantage of their investors’ money while we still can.