Lyft pink car in cityscape

SoFi Money Adds Lyft Cash Back Perk

It’s always nice when, instead of taking away benefits like some people, a company decides to add some perks to their offerings. That’s what happened to me this week as SoFi announced that customers can earn 20% cash back when they use their SoFi Money debit cards for Lyft rides now through February 18th, 2020. Notably, there is a cap on this offer, but each cardholder will only be able to earn up to $1,000 cash back over the life of the promotion.

To me, this particular perk is interesting for a few reasons. For one, it shows a rising trend among FinTechs that not only finds them launching their own debit cards but also partnering with various brands to make said cards more attractive. For example, Square’s Cash Card boasts “Boosts” where customers can (currently) earn cash back from such brands as AMC Theatres, Taco Bell, Target, and others. Moreover, Venmo recently rolled out a rewards program of its own, featuring deals from 5% back at Sephora, Wendy’s, Chevron, and others.

What’s also interesting about these offerings in general is that they begin to give debit cards some of the benefits of credit cards. Everyone knows that, while credit cards can be risky in the hands of some, they can also be quite rewarding. Thus, by adding perks to debit products, those who don’t have good enough credit to obtain a card or just don’t trust themselves with them can at least enjoy some kickbacks. At the same time, despite some pushes to improve the protections that debit cardholders have, it’s worth noting that credit cards are traditionally better when it comes to things like fraud protection and liability.

Anyway, while I may or may not be taking advantage of this offer myself, I’m excited about what it could mean for the future of SoFi Money. Although I don’t anticipate ditching my credit cards in favor of the card anytime soon, I’d certainly welcome additional deals like this Lyft one. Of course, even without such things, I’m already a fan of how the hybrid account allows me to get reimbursed for fees I might incur while using ATMs at home or overseas, use my debit card without any foreign transaction fees (it’s come in handy in a pinch), and earn a decent APY without having to move my money between multiple accounts.

All in all, if you’re a frequent Lyft user, it may be worth joining SoFi Money just to take advantage of this offer. While it may be short-lived, hopefully it will just be the beginning. Speaking of offers, SoFi Money is currently giving out a $50 bonus when you open an account and fund it with at least $100 (disclosure: I’ll get $50 too if you use this link). If you do join, hopefully you’ll enjoy the account as much as I have.

Moneyat30 Special SoFi Money Offer

As you just read I’m still a fan of SoFi Money but it gets even better. For a limited time you can get a $50 bonus if you open a new account with this Moneyat30 link.

Click for $50 Bonus

Author

Kyle Burbank

Founder ~ Moneyat30
Kyle is a freelance writer - including being the head writer for Fioney.com. He also serves as editorial director for the Disney fan site LaughingPlace.com and the founder of Money@30.com. In 2015, Kyle and his wife Bekah moved from Los Angeles to Springfield MO in pursuit of greater financial freedom. Together, the pair enjoy travel, coffee, and spending time with their dog Rigby. Additionally, as of 2023, they become first-time homeowners.

Other Articles by Kyle Burbank

bed at Tru by Hitlon Wichita

Hilton is Offering Double Points on Hotel Stays This Summer

Hilton is making it easy to earn bonus points on hotel stays this summer. For stays from May 2nd to September 2nd, Hilton Honors members can earn 2x points. All you need to do is register on the Hilton site and you'll be good to go. Of course, you will...
Solis 5G alone and attached to a backpack

2024 Solis 5G Mobile Hotspot Review

For years, I've been a regular user of Solis mobile hotspots and have used them for several international trips (and some domestic). Of course, as the years have gone on, my Solis 1 device has grown a bit old. While it still works just fine, it has been discontinued and...
working off a Solis WiFi Hotspot

2024 Solis WiFi Hotspot Review: Using the Skyroam Solis Lite Overseas

As someone who regularly “workations” and relies on a solid Internet connection to be productive while traveling, it’s kind of crazy that I went without a WiFi hotspot for so long. That’s mostly because I had never come across a particular device that jumped out at me.  Well, that was...

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get Posts in Your Inbox
Featured Articles
bed at Tru by Hitlon Wichita

Hilton is Offering Double Points on Hotel Stays This Summer

Hilton is making it easy to earn bonus points on hotel stays this summer. For stays from May 2nd to September 2nd, Hilton Honors members can earn 2x points. All you need to do is register on the Hilton site and you'll be good to go. Of course, you will...
Solis 5G alone and attached to a backpack

2024 Solis 5G Mobile Hotspot Review

For years, I've been a regular user of Solis mobile hotspots and have used them for several international trips (and some domestic). Of course, as the years have gone on, my Solis 1 device has grown a bit old. While it still works just fine, it has been discontinued and...
working off a Solis WiFi Hotspot

2024 Solis WiFi Hotspot Review: Using the Skyroam Solis Lite Overseas

As someone who regularly “workations” and relies on a solid Internet connection to be productive while traveling, it’s kind of crazy that I went without a WiFi hotspot for so long. That’s mostly because I had never come across a particular device that jumped out at me.  Well, that was...
Current Rewards music app

Current Rewards (Current Music) iOS App Review

Some time ago, Instagram introduced me to an app called Current Rewards — also known as Current Music (and not to be confused with the neobanking app Current). For a time, I got pretty into it and even purchased the Mode Phone, which took the Current Rewards concept to a...