SoFi

Reviews: SoFi

Reviews: SoFi

SoFi

Overall lender rating

3.4
out of 5
488 reviews
from Credit Karma members

Most helpful positive review

Sep 30, 2017
Credit Karma member

From application to supplying require documentation, the entire experience was great. SoFi requested 3 documents from me: State Issued ID, Utility Billing Statement, Banking Statement. SoFi has internal systems to verify payroll information automatically so there was no need to PDF print anything out and fumble with tons of documentation. The entire process was quick, online and expedited - what you would expect from any modern company but rarely receive. Sofi is way ahead of the game in this regard. Upon submitting my application and requested documentation I had to wait 4 days for approval. From approval to funding, I waited a single day for my loan funds to hit my bank account. It's very easy to explain how simple the process was, but I want to explain how reliable SoFi is. I have applied for and received approval for loans in the past - but at predatory rates (25%+). I have never been great at managing money, I have a great job that pays well, but I was never taught to control and limit my spending habits. As a result, I quickly racked up $10,000+ in credit card debt. Since digging this hole I have done more to limit my spending on frivolous things, cut up cards to specific accounts and closed my most recent cards that were under a year old. I took several classes offered at work that were aimed at bettering financial self-control. I have a long way to financial freedom, but SoFi approved me for a loan to pay this debt off at an interest rate FAR lower than my credit card accounts (-10%). I have already paid my accounts off and it feels like a huge weight has been lifted off my shoulders. I truly appreciate the service SoFi provides. They truly are looking to help people that show signs and progress towards bettering themselves financially - this includes paying off accounts, making larger than normal payments to bring those balances down and no history of late payments. Thanks to you as well Credit Karma for linking me to such a great company. Like you, they are also looking to better prepare their customers financially.

422
50

Most helpful negative review

Mar 19, 2015
Denied with a 758 score
Credit Karma member

Denied with a 758 score, Perfect pyment history and extremely low credit card balances. Reason is that I'm self employed. If they can't help me then SOFI is no different than a regular bank. Very disaapointing

107
15

Member ratings

All member reviews (488)

264
24
10
24
166
May 21, 2022
ABSURD
Credit Karma member

I was looking for a better rate to pay off my other loan. I did the full process. Took a photo of my voided checking account, took a screenshot of my bank statement which they required. Took photo of my DL, signed in from their website to my Bank website etc etc I was approved for the amount that I requested but THE RATE WAS DIFFERENT FROM THE ORIGINAL RATE and they told me a reason why I did not get it because I opt out of one of my services AND THEY COULD NOT BE ABLE TO USE THE INFORMATION THAT I SUMMITED AND THEY NEED A DIRECT DEPOSIT FORM.????? I told them that loan can sit there and I am not going to use because they are being ridiculous.

0
0

May 20, 2022
Loan Funded, Then Denied!
Credit Karma member

I read a review stating that this company is quick to pre-approve, take the application, then it's lots of waiting only to be denied!!! Well that's correct. I'm having the same experience NOW!!!

0
0

May 20, 2022
Very bad
Credit Karma member

Do not even wast your time. They will decline your loan without abreason

0
0

May 19, 2022
dont trust them
Credit Karma member

very tricky people , dont trust them

0
0

May 18, 2022
Fast funding
Credit Karma member

Easy to complete paperwork online and funding was fast

0
0

May 17, 2022
They suck and then won't allow you to unsubscribe
Credit Karma member

SoFi will not allow you to unsubscribe and credit karma the same. I was not happy with my service be careful and watch your investment this is the worst way to invest or do any business with.

0
0

May 15, 2022
RUN AWAY
Credit Karma member

Don't walk, RUN away! One star because you can't submit review with none.

0
0

May 15, 2022
Great fast simple
Credit Karma member

Process was smooth even though my ape was a little higher than advertised on my offer it was fast I applied Thursday and got approved by Saturday, I sent my current pay stubs should have my money by tomorrow two thumbs up!!

0
0

Apr 19, 2022
Super Fast, Super Easy
Credit Karma member

I applied for a debt consolidation loan on a Wednesday. Submitted all required documents. They reached out to me on Sunday saying they needed a pay stub where the pay period end date was no later than 30 days old, so I submitted a new one the same day. Got approved on Monday and received all funds on Tuesday - 6 days after applying. SoFi called to verify that I was the one that applied for the loan before proceeding, which I appreciated. Super fast, super easy.

3
0

Apr 18, 2022
Declined
Credit Karma member

Declined with excellent odds

12
0

1-10 of 488

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