Credit card or prepaid card -- Other features, terms, or problems -- Complaint #5069266
Complaint Overview
Complaint ID: 5069266
Company: Social Finance, INC.
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-Issue: Problem with rewards from credit card
State: New York
ZIP Code: 10461
Date Received: 2022-01-04T12:00:00-05:00
Date Sent to Company: 2022-01-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Sofi credit card had a promo around XX/XX/XXXX of offering a 5 % cashback for the first 12 months with a qualifying direct deposit of {$1000.00} per month. Then around the next month, they claim they made a mistake for 5 % but it should have been for 3 % cashback, which is fine for me. I can understand and accept that. I was earning 3 % until XX/XX/XXXX ( therefore I was only earning for around 2 months only ). The 3 % started becoming 2 % cashback and I spoke with phone reps 2 times to dispute this and once on online chat. I was still qualified since I met the {$1000.00} per month in direct deposit. I was also told that they would investigate the situation and see what went wrong. Today is XX/XX/XXXX. I have yet to hear a response back so I decided to message them on chat. The chat rep said that I hit the cap of XXXX points for the 3 % promo. I do not recall any maximum cap for XXXX points. I was not given any terms of conditions that stated that I had a cap of XXXX points. As I ask the chat rep to provide the terms of condition for further proof, the chat rep stopped answering me. Screenshot will be provided of the chat log. I think that Sofi is abusing their system and not following their own protocols. I wanted to report this for further investigation as Sofi is abusing their internal system.
Frequently Asked Questions
What is Complaint #5069266 about?
Complaint #5069266 was filed against Social Finance, INC. regarding Credit card or prepaid card specifically about Other features, terms, or problems. It was received by the CFPB on 2022-01-04T12:00:00-05:00.
How did Social Finance, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card or prepaid card) and describe your issue in detail.
Can I see other complaints against Social Finance, INC.?
Yes, visit the Social Finance, INC. company profile at readthecomplaint.com/company/social-finance-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.