Spend Bonus Offers on American Express Cards

The Offer

Some people are seeing spend bonuses on their American Express Membership Rewards cards. Offers vary, here are two examples:

  • Spend $3,000+ anywhere, get 3,000 Membership Rewards® points. Can be done up to 3 times.

The Fine Print

Our Verdict

Similar to the deal that ends 12/31/21, I assume this new offer won’t show on cards with that offer already.

Source: doctorofcredit.com

[CA only] Frontwave Credit Union Visa Signature Rewards $400 Bonus + 4x Points

The Offer

Direct link to offer

  • Frontwave Credit Union is offering a 40,000 bonus points after $3,000 in spend within 90 days of account opening on the Visa Signature Rewards card.

The Fine Print

  • Purchases made with your Frontwave Visa Signature Rewards credit card will earn 4X points from 11/1/2021 – 12/31/2021.
  • Points earned through 11/1/2021 – 11/31/2021 will be paid and available to redeem on 12/25/2021; points earned through 12/1/2021 – 12/31/2021 will be paid and available to redeem on 1/25/2022. 4X points will be issued on purchases for any rewards cards used and attached to the primary rewards account. 40,000 bonus points will be awarded if purchases total $3,000 or more within 90 days of account opening for new Frontwave Visa Signature Rewards credit cards opened between 11/1/2021 – 12/31/2021. Exclusions: Balance transfers, cash advances, returns, or merchant credit do not qualify for 4X points or toward 40,000 bonus point offer.
  • Subject to approval.
  • Rates, terms, and conditions depend on credit qualifications. Must be a member or qualify for membership to receive a card.

Our Verdict

Card also earns 4x points until 12/31/21 as well. Points are worth 1¢ each when redeemed towards statement credit. They also offer a $100 checking bonus. Membership is restricted so most people won’t be eligible to apply. Must also Live, work or worship in either San Diego, Riverside or San Bernardino counties according to the checking bonus.

Source: doctorofcredit.com

How many credit cards should you have?

Woman shopping with credit card on laptop.

The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.

As people build up their financial understanding, many people wonder: how many credit cards should you have? Ultimately, the right number for you will depend on your financial situation and needs. Some individuals benefit from having a single credit card, which offers easy management and fewer decisions. On the other hand, some people are able to maximize credit card rewards by keeping track of many different cards—often five or more. 

The number of credit cards you have can affect your credit score both directly and indirectly. Read on to learn more about how to find the right number of cards for you, how many cards people typically have and how having multiple cards can affect your credit score.

What’s the right number of credit cards for you?

While there’s no ideal number of credit cards, it is possible for you to determine a good number of accounts for your own situation. 

According to wealth management expert Hutch Ashoo, “The amount of credit cards a person should have is entirely dependent on their specific situation and financial history. Some people may get by with just one or none at all, while others can thrive with multiple cards.” 

Ashoo notes that deciding on the right amount for you depends on how well you’re managing your current credit: “It’s critical to pay off the entire sum on each card each month. Having many cards entails a great deal of responsibility. If you can’t pay off every bill every month, avoid getting more than one or two cards, and avoid the urge to spend more just because you have more credit.”

What's the right number of credit cards?

Consider whether any of the following circumstances align with your own:

  • You’re just starting out with credit cards. (Total credit cards: one.) If you’re looking to get a first credit card, it’s usually wise to stick with a single account. Managing credit can be difficult, and adding multiple accounts right from the start can add to the challenge. If you’ve never had a credit card before, you could consider getting a secured credit card, which has restrictions that help you build credit while learning the ropes.
  • You’re looking to start generating rewards with your credit cards. (Total credit cards: two to four.) If you’ve built up your score to the point that you can apply for rewards cards, that may be beneficial for you. Many people have a cash back card with no annual fee as well as a store credit card with rewards for a retailer they shop at often. 
  • You’re managing significant amounts of credit and have a higher income. (Total credit cards: five or more.) Some individuals with high incomes and significant credit card spending can benefit from rewards cards with annual fees. For example, business travelers may get a travel rewards card that offers benefits like airport lounges or airline miles. Before working toward one of these cards, ensure that your spending habits and financial situation will justify the annual fee.

Again, the number of credit cards you choose to have will depend a lot on your situation, like how much you earn and spend as well as how you’re managing credit currently. In most cases, you’ll want to consider adding more credit cards to your name only if you have a specific reason for doing so. Having credit cards for their own sake is usually not advisable, so consider carefully before opening a new account. 

How many credit cards do people usually have?

Although everyone has different needs for credit, the average number of credit cards that American adults have is nearly four, according to Experian®, one of the three credit bureaus. 

Of course, the average number of cards varies based on several factors. For example, in 2020 residents of New Jersey had the most number of  credit cards on average in the United States (4.54), while Alaskans had the fewest credit cards on average (3.06). 

Even more interesting is the generational gap among credit card holders. Members of older generations tend to have more credit cards, but we also see older people starting to close accounts as younger people open more lines of credit.

Average number of credit scores by generation
2019 2020
Gen Z (18 to 23) 1.76 1.91
Millenials (24 to 39) 3.18 3.18
Gen X (40 to 55) 4.35 4.23
Baby Boomers (56 to 74) 4.81 4.61
Silent Generation 4.00 3.64

What are the pros and cons of having more than one credit card?

If you’re trying to decide whether to stick with a single card or apply for a new line of credit, it can be useful to think about the advantages and disadvantages of having more than one credit card.

Advantages and disadvantages of multiple cards

Some of the benefits of having multiple cards include:

  • If one card stops working, you have another card available.
  • You can optimize rewards by using perks from different cards.
  • You may be able to improve your score if all cards are used responsibly.

On the other hand, having multiple cards could have several disadvantages:

  • Keeping track of multiple accounts can be difficult, especially for making on-time payments and watching for fraudulent activity.
  • Annual fees from multiple cards can quickly add up, making rewards possibly less useful.
  • Getting too many new cards at once could lower your score by dropping your average age of credit and placing hard inquiries on your credit report.

Whether you choose to have a single credit card or many, you’ll want to get in the habit of checking your credit score as well as your credit report. Your credit report shows what each of the three credit bureaus knows about your credit history—accounts, balances and payments. If you notice any inaccurate information, like an account that doesn’t actually belong to you, you’ll want to file a dispute with the credit bureaus to get that information removed. 

If you’re working to get negative items removed from your credit report or if you’ve had any other difficulties managing credit, you may find it helpful to work with the credit repair consultants at Lexington Law Firm, who can help review your report and provide support.


Reviewed by Brad Blanchard, Supervising Attorney at Lexington Law Firm. Written by Lexington Law.

Brad is an attorney at Lexington Law firm whose practice is primarily focused on corporate compliance. His focus is primarily in the areas of marketing and advertising of financial services. He regularly deals with issues related to FTC Regulation 5, UDAAP, FCRA, FDCPA, CROA, TCPA, and TSR. He also has experience in LLC formation, contract review and negotiation, and trial and litigation experience in the areas of consumer protection and family law. Prior to joining Lexington Brad worked on Department of Labor administrative law cases and federal class action lawsuits. He also externed for a Utah State Court trial judge where he worked on both civil and criminal cases. Brad is licensed to practice law in Utah and Ohio. He is located in the North Salt Lake office.

Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.

Source: lexingtonlaw.com

Don’t Let Your Credit Card Rewards Expire

If you’ve been racking up points on your favorite rewards card, now may be the time to use them. Depending on your card’s policy, you may lose points you haven’t redeemed if you haven’t used your card in a while. For example, Citi Double Cash rewards expire if you don’t earn cash back for 12 months by using the card or making payments.

Double check expiration policies on rewards cards that partner with travel programs. Because the pandemic kept a lot of folks grounded, many rewards programs extended their expiration deadlines, and you can expect additional extensions in 2022. The Marriott Bonvoy Boundless Visa, for example, extended the expiration of rewards for active and inactive accounts until March 31, 2022. Hilton Honors recently announced it extended its point-expiration date to December 31, 2022, and will allow elite members to keep this status through March 31, 2023.

If your miles or points are expiring sooner than you’d like, see whether you can reset the clock by transferring an amount to another loyalty program. For example, the Capital One Venture card allows cardholders to transfer miles to more than a dozen participating hotel and airline loyalty programs, including those of Air France, JetBlue and Wyndham Hotels & Resorts.

Source: kiplinger.com

Wyndham Rewards Earner® Plus Credit Card Review

At a glance

Wyndham Rewards Credit Card

Our rating

Wyndham Rewards Visa Card (Annual Fee)

  • Sign-Up Bonus: Earn 60,000 bonus points (good for up to 8 free nights) after spending $1,000 on purchases in the first 90 days. Earn an additional 30,000 bonus points (worth up to 4 free nights) after you spend at least $2,000 total within six months of account opening.
  • Rewards: Unlimited 6 points per $1 spent at eligible Wyndham hotel and resort properties and on eligible gas purchases; Unlimited 4 points per $1 spent on dining and grocery store purchases (excluding Target and Walmart); Unlimited 1 point per $1 spent on all other eligible purchases
  • Benefits: 7,500 bonus points each year on your cardmember anniversary
  • Intro APR: 0% APR for six months on all Wyndham timeshare purchases; 0% APR on balance transfers for 15 months
  • Fees: No foreign transaction fee
  • Annual Fee: $75
  • Credit Needed: Good to excellent

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Dig Deeper

Additional Resources

The Wyndham Rewards Earner® Plus Card is a hotel rewards credit card with a $75 annual fee. It has a relatively simple rewards program that favors cardholders who frequently stay at Wyndham hotel and resort properties. 

Although it’s not necessarily as well known as competitors such as Hilton and Marriott, Wyndham is a huge hospitality company with more than a dozen brands represented across thousands of hotel and resort properties. Popular Wyndham names include Microtel, Howard Johnson, Travelodge, Super 8, Wyndham Grand, TRYP, and Dolce.

Whenever you swipe your Wyndham Rewards Earner Plus Card, you earn Wyndham Rewards points, Wyndham’s loyalty currency. You generally need at least 7,500 points to redeem for a completely free night at the most budget-friendly Wyndham properties. However, if you’re willing to fork over some cash to make up the difference, you cash redeem for discounted stays with just 1,000 Wyndham Rewards points. 

Wyndham offers other redemption options, including airfare and merchandise, but at lower point values than redemptions at Wyndham properties. And, like many travel rewards cards, Wyndham Rewards Earner Plus has a fairly generous sign-up bonus worth up to four free nights.

Key Features

These are the key features of the Wyndham Rewards Earner Plus card.

Sign-Up Bonus

This card’s two-part sign-up bonus offers up to 90,000 bonus Wyndham Rewards points. That’s good for up to 12 free nights at participating Wyndham properties.

Here’s how it works:

  • Earn 60,000 bonus points after spending $1,000 on purchases in the first 90 days.
  • Earn 30,000 additional bonus points after spending a total of $2,000 on purchases in the first six months.

Earning Wyndham Rewards

Wyndham Rewards Earner Plus earns unlimited 6 Wyndham Rewards points for every $1 spent at Wyndham hotel and resort properties, and on qualifying gas purchases as well.

Eligible dining and grocery store purchases earn unlimited 4 points per $1 spent. Purchases made at Target and Walmart aren’t included in this category. 

All other eligible purchases earn 1 point per $1 spent, excluding Wyndham Timeshare resort down payments.

Redeeming Wyndham Rewards

Wyndham Rewards points can be redeemed for free nights (Go Free awards) at any participating Wyndham property — virtually every property in the portfolio, save for a handful of extremely high-end resort properties. 

Wyndham has three redemption tiers for full award night redemptions: 7,500 points, 15,000 points, and 30,000 points to earn a free room night. Higher-quality properties generally occupy the two higher rungs of the redemption ladder.

Importantly, Wyndham Rewards Earner Plus cardholders always qualify for a 10% redemption credit on Go Free award nights. That means a 15,000-point redemption requires just 13,500 net points.

To redeem points even faster, you can combine 1,000 points and a variable amount of cash (Go Fast awards) for a free night at participating Wyndham properties. Low-end properties such as Days Inn and Super 8 require less cash, while high-end properties such as Wyndham Grand and the company’s all-inclusive resorts require upwards of $150 per night. 

Non-Wyndham Redemption Options

Wyndham Rewards Earner Plus cardholders can also take advantage of some non-Wyndham redemption options. These include general merchandise, airfare, gift cards, magazines, and rental cars. Redemption minimums vary widely by redemption type and may not be available at all times.

Automatic Wyndham Rewards Platinum Membership

Cardholders in good standing automatically qualify for Wyndham Rewards Platinum Membership, whose benefits include a higher point-earning rate on paid stays, early check-in, late checkout, preferred room selection where available, and upgrades on Avis and Budget car rentals.

Anniversary Bonus

As long as your account remains open and in good standing, you receive 7,500 Wyndham Rewards points after your cardmember anniversary. That’s enough for one free night at participating Wyndham properties.

Introductory APR

Wyndham Rewards Earner Plus cardholders enjoy 0% APR on Wyndham timeshare purchases made within six months of account opening. However, there is no intro APR on regular purchases.

Additionally, cardholders who complete balance transfers within 45 days of account opening pay no interest for 15 months from account opening.

Additional Travel Benefits

Wyndham Rewards Earner Plus has some additional travel benefits, including complimentary rental car insurance, travel emergency assistance for travelers stranded far from home, and the best available rate on bookings with participating Wyndham properties.

General Benefits

This card has some useful nontravel benefits. These include:

  • Purchase protection, which provides cardholders with redress — usually replacement or reimbursement — for lost, stolen, and damaged purchases
  • Return protection, which compensates cardholders when merchants refuse to accept returned items

Important Fees

This card has a $75 annual fee. There is no foreign transaction fee.

Credit Required

This card requires good to excellent credit.


Advantages

These are the top advantages of the Wyndham Rewards Earner Plus card.

  1. Good Intro Deal for Balance Transfers. The Wyndham Rewards Earner Plus card has an unusually generous 0% APR balance transfer promotion. It’s good for 15 months from account opening. That’s longer than virtually any other travel card’s balance transfer promotion. In fact, most travel rewards cards lack balance transfer promotions altogether. If you’re in the market for a card that gets you closer to free hotel stays and helps with existing high-interest credit card balances, this is one to watch.
  2. Solid Sign-Up Bonus. Wyndham Rewards Earner Plus’ sign-up bonus totals 90,000 points, enough for up to 12 Go Free award nights. It’s also super attainable, with just $2,000 in total spending required during the first six months. 
  3. Straightforward Rewards Program. Compared to many hotel rewards programs, which can have confusing tiers and restrictions, Wyndham Rewards is pretty easy to grasp. You always need at least 7,500 points for a totally free night, no matter where you’re redeeming. This makes it a lot easier to plan free and paid travel ahead of time.
  4. Automatic Wyndham Rewards Platinum Membership. Wyndham Rewards Earner Plus cardholders automatically qualify for Platinum status, whose benefits include a higher point-earning rate on paid stays, early check-in, late checkout, preferred room selection where available, and upgrades on Avis and Budget car rentals.
  5. Excellent Value on High-End Hotel Redemptions. Wyndham Rewards offers excellent redemption values at higher-end and all-inclusive properties, whose nightly rates can easily exceed $300 and often range much higher. By contrast, most other hotel credit cards require vastly more points for high-end room redemptions — sometimes 10 or 20 times as many — relative to their cheapest options. That can severely impact their points’ redemption value. With a little foresight, you can increase the value of your Wyndham Rewards — and offset this card’s annual fee — by earning points at low-end properties and redeeming at pricier hotels and resorts.
  6. Wyndham Has Tons of Participating Properties. Wyndham’s portfolio has nearly 8,000 properties. That’s more than some competitors with superior name recognition, such as Marriott. With so many properties in the Wyndham arsenal, you’re likely to find plenty of choices — and plenty of earning and redemption options — wherever you go.
  7. Anniversary Bonus Offers a Nice Boost Each Year. This card’s 7,500-point anniversary bonus is enough to cover the entire cost (in points) of a free night award at the lowest-tier Wyndham properties. Many competing cards don’t bother with anniversary bonuses at all.
  8. Wyndham Rewards Points Don’t Expire Under Normal Circumstances. As long as you earn or redeem points within an 18-month period, your points remain active indefinitely.
  9. No Penalty APR. Wyndham Rewards Earner Plus never charges penalty interest. If you sometimes miss payments due to liquidity issues, this is a big relief. Most penalty APRs remain in effect indefinitely. Note that missing payments may still hurt your credit score.

Disadvantages

These are the most noteworthy drawbacks of the Wyndham Rewards Earner Plus card.

  1. Annual Fee. This card has a $75 annual fee. For frugal and infrequent travelers, that’s a big drawback relative to the no-annual-fee version of this card — which offers similar but less generous benefits — as well as to fee-free travel rewards cards such as the Expedia+ Card from Citi.
  2. Non-Wyndham Redemptions Have Poor Value. There’s little reason to redeem your Wyndham Rewards points for anything other than free or reduced nights at Wyndham properties, unless you’ve accumulated more points than you can realistically use. However, if that’s the case, this might not be the best card for you anyway. Non-Wyndham redemptions generally value points at less than $0.005 apiece, far lower than typical Wyndham redemption values. What’s more, many competing cards, including Chase Sapphire Preferred, let you transfer your accumulated points to other travel loyalty programs at 1-to-1 ratios. That lets you shop around for points and redemption options that maximize the value of your travel spending.

Final Word

The Wyndham Rewards Earner® Plus Card is a reasonably priced travel rewards card made for people who regularly stay at hotels and resorts in the Wyndham family. 

If you can earn enough points to offset the $75 annual fee and travel frequently enough to at least redeem your 7,500-point anniversary bonus each year, you’ll find this card a solid addition to your travel spending repertoire. 

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The Verdict

Wyndham Rewards Credit Card

Our rating

Wyndham Rewards Visa Card (Annual Fee)

The Wyndham Rewards Earner® Plus Card is a great card for frequent Wyndham guests who earn rewards quickly enough to offset the annual fee and can redeem their accumulated points at higher-end Wyndham properties. It’s among the best travel rewards cards for balance transfer candidates, not to mention people who can’t be bothered with trying to “hack” complex travel rewards programs.

On the other hand, this isn’t a great card for cardholders seeking luxurious and convenient hotel or travel perks, nor those interested in a wide range of competitively valued redemption options outside the Wyndham portfolio.

Editorial Note:
The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Source: moneycrashers.com

Mobile Wallets: How They Work & Their Benefits

A mobile wallet app allows you to leave your real, bulky (and likely disorganized) wallet at home by housing digital versions of all those credit, debit, ID, and loyalty cards.

While mobile wallets can be convenient, and are considered safe, it can be confusing to figure out which digital wallet app to use, and whether digitizing the contents of your wallet is worth the effort.

Read on to learn which apps are most widely accepted, how to set up a digital wallet, plus the pros and cons of ditching your old-school billfold and going virtual.

What is a Mobile Wallet?

A mobile wallet is just like it sounds–a “wallet” that lives on your mobile device. It stores credit, debit, gift, store, and loyalty card information so that you can easily pay for goods and services with your smartphone, smartwatch, or another mobile device.

You can even store theater tickets, insurance cards, ID, coupons, boarding passes, and hotel key card information. Some digital wallets also enable you to send money to friends, as well as receive payments.

You may also be able to use your mobile wallet instead of a physical card at some ATMs.

What is the Best Mobile Wallet App?

The major mobile wallets are Apple Pay, Google Pay, and Samsung Pay, which come already installed on mobile devices. Although they differ in layout, these mobile wallet apps have the same basic function that allows you to pay with a phone tap.

There are also mobile wallets you can download from the app stores, including wallets from banks and merchants such as PayPal, Walmart, and Starbucks.

When choosing a mobile wallet app, you may want to keep in mind that a mobile wallet offered by your credit card company may only be accepted at certain retailers.

In addition, merchant wallets will only work in that merchant’s store or online. For instance, the Starbucks wallet will only work at Starbucks.

Which one you pick will likely come down to how widely you plan to use a mobile wallet–will you use it just at your favorite retailer or more widely? The choice will also depend on what type of device you want to use it with.

How Do I Set Up and Use a Mobile Wallet?

The setup for the major mobile wallet apps is fairly simple: You launch the app, take a photo of your card or enter its information, and follow the step-by-step instructions. This process is then repeated for all other cards entered.

Generally, even if you load up several credit cards into your mobile wallet, only one of them will be your default payment option. That card will be the one that is used to process a purchase. If you want to use a different card, you may need to change the default card before you make the transaction.

Beyond credit and debit cards, the app may also walk you through configuring peer-to-peer payments like Apple Cash or Google Pays’ fund’s exchanges. You may also be able to link your PayPal account.

In addition, you may be able to import retail-store rewards cards, as well as museum or library memberships cards, event tickets, and airline boarding passes. This may involve scanning a QR code or selecting the “add to wallet” button in an email or a text message from the issuer.

When you are ready to pay for purchases you’ll want to make sure the merchant accepts mobile money. These businesses can typically be identified through a contactless payment indicator (usually a sideways Wi-Fi symbol).

You can then just open your digital wallet app, hold the phone near the wireless reader at the register, and authorize the payment. Your phone’s screen will confirm the transaction.

Are Mobile Wallets Safe?

Unlike cash, which can be stolen, and credit cards, which can be copied, the card information you load into a mobile wallet is encrypted. That means that your actual card or account numbers are never shared with the merchant.

Another safety feature: In order to make a payment, you have to unlock your device and also type the passcode or use your fingerprint or face recognition to unlock the mobile wallet.

In the case of theft, it’s not possible for anyone to use a mobile device to make a payment without providing the required security credentials.

These safeguards actually make mobile wallets more secure than carrying physical credit cards and cash, which can easily be compromised.

Pros and Cons of Using Mobile Wallets

Is a mobile wallet right for you? Here are some key pros and cons you may want to consider.

Mobile Wallet Pros

They’re convenient. If you’re out and about without your wallet or bag, you can still make purchases, and use your coupons and rewards cards. You may also be able to get cash at an ATM or check a book out of the library–all from your mobile device.

They’re secure. Mobile wallets provide a layer of security you don’t get with cash or using a debit or credit card. Your payment information is saved in one protected, central location. The card number is never stored in the app itself but is instead assigned a unique virtual number. This protects your money even if your smartphone is lost or stolen.

They can help you track your spending. A mobile wallet can help you track and better manage your spending. All of your transaction information is stored in the app so it’s easy to see how much you’re spending and where each week.

Mobile Wallet Cons

They’re not accepted everywhere. There are still some industries where cash is the only currency accepted. Even in businesses that do take credit, not all of them accept mobile wallets. To accept a mobile wallet, businesses need to have payment readers that take near field communication (NFC) payments, and not all of them have updated readers. This can cause a problem if a mobile wallet is all you have on hand.

Your phone could die. Cell phones often run out of battery life, and if you’re without a charger, that handy mobile wallet will no longer exist. That can put a crimp in your shopping plans or become a major problem if you have important documents such as train passes or concert tickets in your mobile wallet.

You may end up overspending. The thinking on mobile wallets is often similar to that with using a credit card. Because cash isn’t physically leaving your hands, spending can feel less real. If you have spending issues, a mobile wallet can make it easy to spend mindlessly.

Recommended: 9 Tips to Stop Overspending

The Takeaway

A mobile wallet is a digital way to store credit, debit, ID, and gift cards so that purchases can be made using a mobile smart device rather than a physical card.

Mobile wallets can help simplify your financial life. They allow users to make in-store payments without having to carry cash or physical credit cards. They’re easy to use and have hefty safeguards.

However, they aren’t universally accepted. It’s worth your while to determine whether the retailers you frequent accept them to help determine if a mobile wallet is a good option for you.

Looking for more convenient ways to manage your money? With a SoFi Money® cash management account, you can spend, save, and earn competitive interest all in one place.

You can also track your weekly spending, pay bills, and send money to friends right from your smartphone using the SoFi app.

Make managing your money simpler and more convenient with SoFi Money.

Photo credit: iStock/hiphotos35


SoFi Money®
SoFi Money is a cash management account, which is a brokerage product, offered by SoFi Securities LLC, member FINRA / SIPC .
Neither SoFi nor its affiliates is a bank. SoFi Money Debit Card issued by The Bancorp Bank.
SoFi has partnered with Allpoint to provide consumers with ATM access at any of the 55,000+ ATMs within the Allpoint network. Consumers will not be charged a fee when using an in-network ATM, however, third party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
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Source: sofi.com