Sofi’s New Mastercard Partnership Announced
You know those SoFi debit cards everyone and their mother has been talking about over the last few months? Mostly due to a few very lucrative referral bonuses. Well today SoFi and Mastercard announced an exclusive partnership for all of SoFi’s applicable products. As part of the new partnership, Mastercard will also be the exclusive card network for SoFi’s upcoming credit card product. I’ve long touted the benefits that Mastercard offers cardholders, including this amazing travel feature that offers airfare discounts and can be a great source of mistake rates.
SoFi seems to be growing quickly and this seems like a great strategic move to increase value for it’s customers. Just look at the list of products offered by SoFi.
PRODUCTS
- Student Loan Refinancing
- Medical/Dental Resident Refinancing
- Parent PLUS Refinancing
- Private Student Loans
- Undergraduate Student Loans
- Graduate Student Loans
- Parent Student Loans
- Personal Loans
- Home Loans
- Mortgage
- Mortgage Refinance
- SoFi Invest®
- Crypto
- Stock Bits
- Active Investing
- Automated Investing
- ETFs
- SoFi Protect
- Renters Insurance
- Homeowners Insurance
- Auto Insurance
- Life Insurance
- SoFi Money®
- SoFi Relay
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Mastercard and Sofi Partnership Details
The partnership will initially focus on the SoFi Money debit card, for which Mastercard will now be the exclusive card network. The current SoFi Money debit card account features include no account fees, high-yield interest, ATM fee reimbursements, payments and mobile deposits. Under the new and improved debit card account program members will get a bunch of extra benefits including cashback rewards, free cell phone insurance, exclusive travel discounts and more.
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With Mastercard, SoFi will offer a suite of products and in-person experiences to SoFi members. Members holding certain SoFi and Mastercard products will also have access to an enriched fan experience at SoFi Stadium, the future home of the Los Angeles Chargers and the Los Angeles Rams, opening later this year in LA.