SoFi just released their Q4 2024 earnings call and during it they mentioned that they have signed a hotel co-branded partner.
Third, we’ve signed a partnership with a leading hotel rewards brand for a co-branded debit card program launching in the first half of ’25. This is a new differentiated offering that will expand our footprint among consumer brands.
I’d be surprised if this was a co-branded debit card and I’ve seen credit mentioned in other areas so I suspect this is a mistake. My guess is that SoFi will be partnering with Best Western as FNBO stopped accepting applications for that card in August 2024. It won’t be Best Western as First Bank & Trust/Mercury Financial now issue those cards.
Hat tip to reader @doctarzz
Word of warning about SoFi… Do not use Zelle with SoFi ever! I don’t care if people have done it without issue, you will eventually get dinged and it may really screw things up, especially if you use the account for direct deposit! Had an account get locked for over a week and it was an absolute shit show.
Dang looks like it’s probably Sonesta but have had my fingers and toes crossed for an ALL card for like 3 years now…
I’ve personally never had a problem with SoFi but then again I’ve never needed to contact customer service for anything. I knew someone who sent money using Zelle and SoFi locked their account and wouldn’t say why. They had to get the comptroller of currency involved to get SoFi to release their accounts, then SoFi had the nerve to mail a letter saying that contacting the comptroller of currency was unnecessary…
Yup this happened to me! Do not use Zelle with SoFi ever! I don’t care if people have done it without issue, you will eventually get dinged and it may really screw things up, especially if you use the account for direct deposit!
How about they focus on adding CLIs like any other real bank…
SoFi is on my shit list too, like Ryan below. I had a few bucks in sofi and they charged me a $25 in activity fee because I didn’t log into my account for 6 months. Calling, they wouldn’t reverse it. I even opened consumer Financial Protection board complaint and they wouldn’t reverse it so I took all my money out let them choke on that 25 bucks
No thanks.
They never paid the welcome bonus despite real DD on P1 and P2 . Even with talking with a hypocrite manager that did not make right, gave his email and never replied.
Shady company.
My best performing stock today
oof
I still have my SoFi account open from several years ago but I just want the option to have a 2nd checking account with them.
It helps us with setting aside money that’s used for auto pay on bills and the rest being for our regular spending for the month.
Not sure why they are so adverse to this but it’s one of the reasons I went back to our local CU and have been with them since. I’ll go back once they make this option available.
Here’s the DoC link to the new BW lineup that was announced last Fall, in lieu of the discontinued FNBO card. I immediately added the no-AF version to the collection, since it came with a pre-qualification tool. Hopefully, whatever SoFi has in mind, their card will be at least as competitive.
https://www.doctorofcredit.com/best-western-launches-two-new-credit-cards-with-first-bank-trust-mercury-financial/
Debit card will probably get 1 point for every 2 dollars.