Ever since I started taking an interest in FinTech and reviewing various apps and services, SoFi has stood out to me as one of the most interesting companies. While they were previously known mostly for their student loan refinancing (something that thankfully doesn’t apply to me), in just the past couple of years, they’ve expanded into other aspects of finance with their SoFi Money cash management account and SoFi Invest platform. Speaking of SoFi Money, recently the account rolled out a special offer for debit card customers that could prove quite lucrative during these quarantine times: 20% cashback on purchases from DoorDash and select streaming services.
As luck would have it, this past week, I placed my first official DoorDash order (by the way, it seems to be a big week for me trying delivery services as I also gave Instacart a shot). I say “first official” because, prior to this, I had placed orders directly with restaurants that partnered with DoorDash for delivery but hadn’t used the app itself. Notably, in these situations where you are ordering from the restaurant’s app or site, these transactions will not qualify for SoFi’s cashback offer.
According to SoFi, all customers will need to do to earn this cashback is make sure they use their SoFi Money debit card when checking out. Then, the credit should appear in their account within two to four days. Sure enough, mine showed up just a couple of days after my purchase.
While food delivery is great, the lockdowns that most Americans are under have also increased demand for music, television, movies, and other entertainment. That’s why, in addition to DoorDash, SoFi is also currently offering 20% back on purchases from various streaming services. These include:
- Spotify
- Netflix
- Hulu
- Disney+
- Prime Video
- HBO Now
- CBS All Access
- Pandora
- Google Play Music
For better or worse, my Disney+ subscription is already paid up for three years, I recently canceled my HBO Now, and my Netflix subscription is included with my T-Mobile service. However, I did make sure to change my Spotify billing over to my SoFi card so I can at least save a couple of extra dollars in the coming months. On that note, looking at the fine print, these deals are set to continue through June 30th, 2020 — meaning there’s still plenty of time to take advantage.
With this latest promotion, I think you can probably see why SoFi has quickly become one of my favorite companies. Not only does this offer build upon the potential shown with their similar Lyft offer last year but also lives up to the promise teased when the FinTech announced its partnership with Mastercard back in January. More importantly, these particular deals really speak to the times and could help customers feel just a small sense of normalcy. Needless to say, I’ll definitely be making use of this offer again before it expires and hope you have a chance to as well.