SoFi Reviews

I made a selection error on my loan app and wanted to correct it within an hour. They refused the request and told me my loan had already been approved and it was impossible. The request was to go without the origination fee. They said it could not be changed and the loan could not be stopped. Said it was already in funding although it clearly said it would be funded in 2- 3 business days. This was on a Saturday morning at 8 am.

I applied with Sofi and before I did I ask them about the income part. Can I used everyone income that live in the household or just mine. I was told everyone would do. I ask him that before I would complete the application due to the fact that just mine alone will not work but credit score it's great. I didn't want my credit score to be ding or go through the whole process of the application with just my income. He reinsure me that I can use everyone. So I did and they decline me because unable to approve my income. But yet if I had a cosigner then they would look at it so before I can do that they send me a letter saying they regret the they was unable to approve me. So a hard hit, waste my time, score went down 3 points and no loan. All they can said sorry they told me everyone income.

If you businessmen or hardworking person don't waste your time. Was pre-approved on Credit Karma for personal loan 34500$ was needed only 22000 to consolidate some debt. Credit score 833 credit utilization less than 6% Gross from all businesses 235k own appt lease a car never bankrupt or anything.... declined. First they asked pay stubs, then employer verification took 3 days with multiple emails and calls, then asked for tax returns and so on, so on... STAY AWAY from these people.

I wish I would have looked at these reviews before I decided to go with them for a personal loan. The application process was simple and getting the money was fast, however my first payment has been a nightmare. If you don't want auto pay through them, continuously check to make sure SoFi doesn't set it up for you. I set up auto pay through my own bank, making weekly payments so when the first payment was due, it would already have been paid. They continued to send me emails advertising that I would get a .5% decrease on my percentage rate for my loan if I set up auto pay with them. I ignored the emails because I was already making my weekly payments. A few days before the first due date (which at this time, my payment amount was already paid) they sent me a notice indicating they were going to take out the full payment amount. I went out to my account and magically my auto pay had been set up!!!

I am trying to pay my bill. I had filed for Chapter 13 and then withdrew it. It has been at least 4 months. I have sent documentation several times to them in Salt Lake City. They always claim it was not received even though I sent certified mail. They continually refuse to acknowledge receipt of anything. I am going to my local media and filing a complaint with the attorney General office and anywhere else I can.

Do not trust this bank. I opened an account 2 months ago. Shortly after added my wife as a joint holder. The next day there was an unauthorized transaction. Then 2 more. The 4th transaction was an ACH transfer to a bank we do not know. They refunded the money, but the next day or 2 the same ACH transfer happened again. Now they are refusing to refund the money. We've been lied to several times when speaking to them. Also, I hate the fact that they outsource their calls to the Philippines. We have had nothing but a horrible experience with this bank. DON'T AFFILIATE YOURSELVES WITH THEM.

Horrible service, no support for app or correcting errors on it. Stick with mainstream lenders that can afford proper support, unless you want to waste your time and deal with only out of country support.

I submitted a "Personal Loan" on November 4, 2024. Today is November 14, 2024. Ten days later, and SoFi is still investigating my Loan. I called SOFI, and spoke with a supervisor, to figure out what is happening with my Loan. SOFI couldn't tell me anything. Their call center is oblivious to do anything positive for you. SOFI is made up of idiots and morons. STAY AWAY FROM THIS PLACE???

An in-activity fee that is bigger than your balance is just shameful. Good job ripping people off for not being able to bank. Milking the people who are what? Dead to you? In hospital? On vacation? DON'T NEED TO MAKE A TRANSACTION. If you have to read and understand all of the fine print not to get ripped off then your so called services are just unethical in my opinion.

This is an excellent company to do business with. Sofi allows people to reach their goals, without giving them the run around! Also, there're always professional and they always display excellent customer service! Thank you Sofi!! You have a customer for life now!!

This bank is terrible. It started a few years ago when I was going on vacation to Colorado and wanted to give them a heads up so they would not cancel my card. Well, because I was at work and did not know EXACTLY when my flight was, nor the last 3 transactions I made, they reported it to the fraud department. It took weeks to unravel that mess.

They notified me I would be charged 25 dollars as an inactivity fee. Definitely not the place for passive long-term investors. I have to log in to see money I have no intention of doing anything with for years or be charged. I am not going to be logging in again and again for 30 years, and potentially losing 25 dollars every time I miss an email or forget. No thank you.

Everything is fine until you need assistance, then they hang you out to dry. I had essentially no problems with my SoFi loan until my company put my department on a "temporary freeze" essentially reducing my income to $0 for an unknown amount of time. So I reached out to SoFi support to see if there was any assistance available to me. I have made a few payments late here and there but my account is far from delinquent. After filling out a questionnaire I was connected to an agent who asked...literally the same exact questions as the questionnaire? Redundancy aside, SoFi took note of my situation and plainly said "Nope." Nothing. No options to help me out of a really, really tough spot even though I was being as communicative and transparent about my situation as possible.

When it comes to personal loan, you need to have the godfather, pristine, 30 year supreme credit history or Sofi will deny your loan. Also, the rates are ridiculous high. Why would I do business with someone trying to hijack my money. Noooo Sofi.

I received a debit card from this company/bank and I linked it with my regular bank and the very next day I received a strange email I did not understand so I went into my account online and noticed a amount of $500 and a amount of $1000 had magically switched from my regular bank into a SoFi checking account and I did not do that!!! $500 had already been sent to some email address that I did not recognize and I did not make that transaction of taking money out of my account or sending it to anybody. I was able to transfer back the $1000 into my regular bank but it was too late for the $500 and this was August 9, 2024 this day. I’m still fighting to get my 500 back.

This bank cannot even accept deposits from Social Security/US Treasury for monthly payments. After hours on the phone with both SoFi and Social Security I finally had to switch banks. The deposit worked for 2 months then was rejected by SoFi for 2 months until I switched to another bank. DO NOT use SoFi if you have US Treasury deposits coming in monthly!!! SoFi said I had a business account and that is why it was rejected, this is illogical and untrue.

Obtained a loan in 07/2022 with SoFi with a co-borrower. At the time, the interest rate was 12.79%. Was told I could always refinance the loan at a later date to reduce the interest rate. I have called twice in the last year to do that, and was told that since there is a co-borrower, this loan is ineligible to ever be refinanced with Sofi. Then I explained that I would have a reduction in income and that I need better repayment options. After an "eligibility check" I was unqualified for any kind of forbearance or assistance with the monthly payments of this loan, even though I told them I was unable to pay the current monthly payment and I was trying to get ahead of any issues.

My account was all of a sudden restricted 3 months ago. I never got a reason why. There is money in my account and I have not been able to use it. I had a dispute with them. Dispute was still going after 3 months. I cancelled the dispute. They still haven’t closed my account to send me my money. It’s not a lot of money. But it’s my money and I want it. This bank is a scam and I will never recommend anyone to bank with them.

I am very disappointed with SoFi, when I had 2 unauthorized charges, at first they wouldn't credit my account. I had to appeal it twice and then they would only give me the lesser charge of $9.98 and not the charge of $159.87. It was made at a company out of state that I've never done business with. I cooperated and gave them any and all information on this matter and asked to see the results of their investigation, which didn't prove to me that I made these charges.

Terrible communication. Acct was closed but no reason given. The operator kept telling me to review my account. That gives me no explanation. Do yourself stress and do not give this company any of your money.

I just signed up for this company to consolidate my Credit cards. Everything sounded good and with auto pay and pay off 1/2 of the money towards debt, there would be .25% discount for each....lower interest rate. One Credit card was 'unsupported'. After numerous phone callls and numerous chats, I was told they could manually enter my unsupported Credit card. I received the money and checked a day later. No discount! I was on a chat and they said no one there could manually add the discount. I was lied to!!!! I was not happy....2 people told me they could manually add the discount!!!!

If I could turn back time I would have never responded to their call. Their fees are ridiculous and they prey on the vulnerable. Do not choose this company to help as they only hurt. Place your business elsewhere.

This institution is horrible, I’m a 10 year customer and they messed up my recent loan, and won’t fix it the same day the loan was approved!! Worst experience ever, do not give them your business. The customer service is worthless, real banks fix mistakes- This institution is a bottom of the bottom!

Absolute bait and switch *terrorists* so I definitely recommend avoiding this institution completely. They put ALL their eggs in the "student loan" basket and now that the government is forgiving them all SoFi is left with nothing but risky credit card debt. And they treat their customers like crap.

Long story short. I went to SoFi many years ago to consolidate my student loans. I was denied, no problem. I still don't understand why I was denied at that time, but I was and I moved on. I recently came back to SoFi to open a checking and savings account to use as my main accounts. Well, when I got there I found a fraudulent account setup that was using my SSN. Great. I found that out by applying for the accounts and getting denied. Who gets denied for a free checking/savings account, right?

They lead you on the the very end - then ask for a co-signer. Then run hard credit checks on both people - and then deny the application. Stay away from these scam artists. They are the worst finance company ever.

This is the absolute worst financial trading company I have ever used. Their balances are always off at the end of the day and you constantly have to watch your back and take pictures on your ending balance. Their system was down one day for 4 hrs and I lost money on a trade I couldn’t make. They did make good on it but told me a week later that after reviewing my account, I am no longer a fit for them and to take my business elsewhere. The nerve!!! Worst customer service I have ever experienced. Stay away from this company. Not trustworthy and the platform stinks.

I've had a SoFi Credit Card for a couple years now. I used it for recurring bills and groceries. I always pay it off every month to take full advantage of the 2% cash back. I have never been late making a payment or been charged any interest. I pay it from my Sofi checking account, which up until today, instantly increased the available credit. Yesterday, they took my $900 payment and won't increase the available credit for 9 days. This being 3 days before Christmas I called them up to ask what was going on. After an hour on the phone they said it would be available December 30th. No explanation was given - only the date. This smacks of either incompetence or dishonesty. So It's the last time I'll use my SoFi Credit Card!

I was given a great pep talk and led into not only opening a bank account but was able to invest in regular stocks and MOST IMPORTANTLY IN CRYPTO CURRECY. Now after years of this we are told and given an ultimatum that we need to sell out the crypto part or transfer our assets into a block chain outfit?- what that is I dont know. I feel deceived and cheated for investing in these two modes of investments and have only lost money both in the stock and the cryptocurrency? This is DECEPTION, FRAUD AND UNEXPECTED OF A "BANK".

I have a credit card with SOFI among other things and out of the blue they reduce my credit limit from $25,000 to $1000 overnight with no notice. I have stellar credit and never missed one payment. I called and nobody could tell me why and when I asked to please restore it or at least move it up to something reasonable, they said they aren’t raising credit limits. What jerks. Avoid!

Between the limits on the transfers and debit cards and the terrible customer service I would never recommend this company to anybody. I was on the phone with someone for one hour, and then in the chat session for another 30 minutes asking questions on why these restrictions were in place and nobody seemed to have an answer.

Horrible choice for stock investing. Signed up for their “free” stock investing. Nothing but a pain. Bogus fees which they will refund if you catch it and call them. App is a joke and crashes as much as it works. The entire system crashed multiple times and you can’t get to any of your accounts. Checking or investments. Would not recommend Sofi to anyone.

I received multiple mailings about a personal loan from Sofi. I went in and got some okay interest rates. Decided to proceed today to pay some medical expenses. Once I had submitted my application, they change the terms including a higher interest rate. Bait and switch. I asked them to remove the credit pull from my credit report. They refused although they apologized for “misinformation.” I will never do business with them and caution anyone else considering it. What interest rates they show you may not be the rate you get. Bait and switch.

This home mortgage experience was an absolute nightmare. The bank was utterly incompetent, failing to communicate with both my realtor and me. I can't even count the times I had to wait for a response that took forever to receive. Their gross negligence resulted in us missing our closing date, putting our $10k deposit at risk. It's good that the seller was honest because the SoFi team did everything possible to derail the entire process. I would strongly advise anyone to avoid this unprofessional and unreliable institution.

I researched this bank online before I opened up an account. I had lost my debit card and was sent a new one. I had two online accounts that I decided not to change debit information on and just let them cancel themselves. Well Sofi let them charge my new debit card with totally different numbers. When I call I was asked if I had given someone my card. So they assumed I gave someone my card and they got online and changed debit card numbers and paid my accounts. Time for another bank.

I was denied a personal loan with an 817 credit score after SoFi stated they could not verify my identity, after following up with SoFi they stated some changes needed to be made and updated which I complied. Since then the loan has been placed in virtual limbo, still waiting for a response weeks later, at this time I no longer want the loan but as you know hard inquiries and denials negatively affect your credit score which we as consumers try so hard to protect but it seems SoFi doesn't care. I plan on filing a formal Banking complaint with the Federal government and I suggest you do too!

Horrible. They steal your identity and make it impossible to talk to a human. Never ever give any information to these people. I have made multiple calls demanding they remove my information, and yet I am still getting fraudulent emails from them.

I made a payment weeks ago that is still "Pending." I cannot make another payment while there is one pending. Neither the robots or the support persons can fix the problem. I've been hung up on twice while on hold. Credit card balance is a high impact factor on credit scores. This software defect is affecting my credit score. In a few more weeks I'll be paying interest on this balance that I can't pay down do to no fault of my own. Unlike other financial institutions (every other one that I've worked with), with SoFi you cannot download your transactions for use in accounting software. The website is slow. The App is slow.

After reporting fraudulent activity on a debit card I can no longer - retrieve money from any atm (Allpoint is unresponsive for virtual transactions with SoFi "partners"), cannot make online purchases, pay a few of my bills, or complete majority of any day-to-day purchases if merchants do not have a POS system that takes Apple pay. Having no physical card, I tried getting the number to help complete these transactions but no one at SoFi will provide me the debit card number. Unbelievably to top it off, SoFi refuses to expedite a card so you will wait 10 BUSINESS DAYS to do any of the above. Not to leave out that any transfers from this account to an external account will take at minimum 2-3 business days. This seems like an attempt to sabotage themselves as a reliable bank. I would not recommend contacting support immediately with a problem until you move your money out of the account because otherwise it's held hostage and you can be responsible for the rest.

*SoFi-Fails Summary version - Affiliate links make people a lot of money to recommend SoFi - BUT SoFi seems extremely risky to trust with your money. SoFi's business & support practices were so broken they refused to take my millions of dollars due to flaws with THEIR processes. If SoFi processes are so bad they can't manage to take my money, what happens when their systems and processes don't work trying to manage or move my money out?

I called in to change my payment due date from the 5th to the 24th. Easy enough right? The customer service rep changed the due date. And then told me to turn off auto pay for my next payment due on the 5th. And then to turn it back on after passing the 5th. It would then come out on the 24th. So that's what I did. The 5th passes. I go to turn auto pay back on to see that my account is considered delinquent. And that I could not turn auto pay back on. So I call customer service. HERE is where things go real south. If your account is considered delinquent you get sent straight to collections no matter what. I've never been treated so badly. I explained to them what happened.

I was excited when I learned about SoFi last month, because they offer some great products - in theory. In reality, I still haven't been able to enjoy some of the benefits I'm supposedly receiving.

SoFi solicited me for an unsecured loan. With my 805 credit score, I applied to them. Within 24 hours I was advised they were working on it. 48 hours later, they requested duplicate documentation of what was uploaded + an actual copy of my SS card. I complied. I was told it was approved and the final offer would be in my email within 48 hours. 4 days later, nothing. I call and long story short, 2 more weeks of asking for more and more documentation to the point they were asking for access to my IRS records.... for a small loan. I was not giving them any more access to the VERY sensitive information I had already. Went with a competitor company and was approved and funded for MORE money all within 72 hours. I wish I would have seen the reviews on this company before. Waste of time and impact on my inquiries.

Transfer money to pay our home loan off only to find out they can't do it. But if you're buying a home they can. This is not a real bank!!! Real banks can handle things like this. Very disappointing on this one.

It is almost 5 weeks trying to get a $5,000 personal loan and these people continually ask for the same information. I have faxed to them repeated information, they will tell me they do not need anything else it is under review and then they ask for something else. Customer Service is nice but they do not know what they are doing. I am out of work for 3 months and during this time one employee will request when is my return for me to write a letter so I did and another employee ask me to have my company write a letter on a company letterhead. It is repeated information that they seem not to receive or they continually change their minds what they need.

Inquire on loan - simple. Get options and select to move forward - simple. Credit gets run - now you are impacted on your credit score. Offers come back - seems simple. Select offer that meets your needs - seems simple. Less than 12 hours later sent paperwork with disclosure statement that is not reflective of what you selected after credit was ran and your real options (not projected options) are offered. Call company. They say that this is what is available. Loan no longer meets needs but you are now stuck with a ding on your credit score for an inquiry. Not an honest and straightforward company. Customer care does not want to help. Just says this is what it is but cannot explain why it changed in less than 12 hours when I had asked to move forward with the loan offer and the last step was just to sign. Other companies provide better service and options! Steer clear!

They are the most corrupt, amoral, unethical, financially criminal of all the fintechs. We have tested almost ALL of them, and they are the worst in the grouping. They are very sick people. From the 'CEO' to the seemingly high school aged 'representatives'.

Just got approved for my loan. Can't say enough good about this situation. Opened a debt consolidation loan. Got offers from other lenders at 20% or more (how does a D/C loan at 20% make any sense?). Sofi came through with an offer at a reasonable rate, much to my surprise, and I jumped on it. All done through website and email. Speed, accuracy, easy, all words to describe transaction. Can't say enough good, especially after those 20-25% offers.

If you are self employed, don't waste your time. Not sure how they base their decision. They ask for past 2 years tax returns and W-2s and pull a credit report. Although my credit score is over 800 and income up 100k from 2019 to 2020 I was rejected. They ask nothing for current year (it was November when I applied) and when I spoke with a rep, he couldn't understand the data and seemed to be reading from a script. He told me that a person reviews the data which I find hard to believe. I applied at 12:14pm and was rejected at 12:40pm.

These guys have no clue. No prepared to support their growth. Member service reps are worthless. Hold times ridiculous. STAY AWAY. FAR FAR AWAY... They need some serious help, training, etc. They won't make it at this rate. Don't invest here.

Sofi loan lending company is a fake company. Which ask you 1st to add the money before borrowing the loan. And when we add. They change the account no. And they say us. That we added wrong account no. Now your account is freezed. And they don't even give back out money which transferred.. basically it's a fraud company.

Managing people of SoFi invest have a department full of unprofessional unethical clowns. They lead you on and hold your money hostage and sit on funds even they have deemed settled cash avail for withdrawal by "reviewing" for consumer's safety. Lies.

I had high hopes for SoFi as I chose to refinance my mortgage with them. I wish I had not chosen them. It started OK & they contacted me quite late in the day to review my online application (submitted May 26). It was the Thursday before Memorial (May 27) and I thought OK - let's just get this done so nothing is held over the long weekend. During the conversation the SoFi agent told me we should be able to close in about 2 weeks. I got everything they needed uploaded that night. I signed the documents as requested that night in my account. I was provided revised docs on May 28 & those were signed the same day.

Incompetence & lies... where do I begin??? Called a few weeks ago to inquire about a money (cash management) account AND a brokerage account. First rep I spoke with on the phone told me only “soft pull” and LexisNexis report. Second rep was clueless. Opened a brokerage account last week. Opened money account this morning. Called this morning and spoke to third rep who confirmed they pull both ChexSystems & EWS report! “Dear Sofi.... You just applied for your bank charter license! You’re not GOOD ENOUGH to pull those reports!” And if a customer asks you point blank if you pull ChexSystems and EWS, your reps better have that “basic knowledge” that most bankers and advisors learn in their FIRST WEEK OF TRAINING!!!

I got a 50k personal loan and was funded in less than 3 business days. My FICO score was good but not excellent. I was even able to speak to a live human when I had a question. I did get a good rate compared to Lending Club or Prosper. The site itself is a pleasure to use.

They advertise like mad, claim to have best rates and an easy application. Yet despite having a stellar credit rating, their system includes the student loans intended to be refinanced into the existing credit formula PLUS their new loan (essentially double counting the same expense) and then proposes a much higher rate "based on your current qualifications" and debt load.

Beware of this company. I applied for a personal loan with a 809 credit score and I was approved with a 9.36% apr. Sent my income and they came back with a much higher apr 15.30%. They’re picky and will find any excuse even though you are capable of paying the payment. That’s 1 hard inquiry wasted. I didn’t want it to go to waste so I asked a agent if they could use the same inquiry to consider me for a credit card and she said yeah no other hard inquiry will be done so I applied for the CC and I was declined with a 809 credit score with excellent paying history and the whole works.

Not only do they have horrible customer service but give incorrect information, I have made mistakes, and my bank information which was supposed to be removed after I paid off my loan was not. And employee a random employee was able to get access to my routing number and checking account number. This company cannot be trusted. They lack integrity in customer service skills.

My story is the most strange and absurd… My story is the most strange and absurd you would never hear in your lifetime: 823 credit score, 15 ys., 800 only on my 9 credit card account. Great credit history, never missed a payment, permanent tenured teaching job with Gov. agency (11 years on the job so far), perfect everything, around 100k income but despite all of this my 35K personal loan was declined from Prosper and Discover at the same time whereas they both called me before to tell me that I was approved.

When my wife and I first applied to SoFi for a loan we received a message in big bold letters 'PRE-APPROVED'! We then had to send in two years of tax statements, two years of bank statements, and two letters of explanation of our credit (both our scores are over 730). After all of this we then received an email that we were declined. What? They already said we were approved? We then applied on LendingTree and were approved in less than 1 day. Read other reviews, this happens to a lot of people. SoFi is nothing more than a scam, you've been warned.

SOFI sells you on a low interest loan if you have great credit. I asked what score they looked for and no answer was provided. I was lead to believe I would receive a interest rate lower than 6% but that was not what was presented. It was below 10% but I could get that at my bank all day long. So with a 770 credit score I was offered a higher rate than they advertised. I would like to see the requirements for the 4.99% loan advertised. Or hear from anyone who actually got a great rate. I personally think it's a bait and switch advertisement. Yeah maybe a friend of the owner got a great rate but not the average citizen. I actually got a 5.99% at my credit union for a separate loan at a later date. FYI I did take the sofi loan anyways because I didn't bother to look at the interest rate. MY ERROR. Good luck to all. See your credit union first.

Not a good place. They take advantage of people and I don't recommend this place at all. I don't like the process at all. Too much interest charge on the loan. Do not get a loan from this place. Not good.

I took out a $2000 loan three months ago as I ran out of savings because of Covid. This is my first personal loan so I have no basis for reference but I'd heard of SoFi so I researched it and chose it over the others. The website was easy to navigate and when I called I was able to talk to an actual person. The repayment terms are basically the same as every other major loan company of this type. So far the automatic re-payments have processed without incident.

Tried to get a loan and they said no from a BK I had over 9 years ago. Funny how I can get a 1.5M mortgage and 2 new cars without issue but SOFI complains even though it's almost been a decade. Every other lender and bank doesn't care as long as 7 years has passed. I wouldn't even use them once I was eligible. Horrible company.

I applied for a personal loan to consolidate debt. I have a good credit score of 787 (Experian) and never missed a payment on anything in my entire life. To my surprise, I was declined with one of the reasons being that I had too many accounts, which I found odd, because people apply for debt consolidation to reduce accounts/payments into one, so it is expected to have multiple accounts.

Debt consolidation was the reason for my personal loan application with SoFi. I applied the first few days of June (with excellent credit BTW), while I was on 6 week paternity leave. I received a request to verify my employment and I reached out to my employer. I received a VOE link and supplied it to SoFi. That wasn’t good enough because the link needed to be emailed by my employer and not me(???). I finally got past this hurdle and they verified my employment, but had an issue with me being on leave. I reached out to my employer and was told to provide them the VOE link and the contact info for Unum, the company that handled my pay while on FMLA.

This is the only company that I have found that is completely unfriendly to people affected by COVID-19. I asked them to move my payment date by 13 days and it was a huge hassle. Then they said that I could defer "one" payment but that my account would be shown in default?? Unbelievable! AS other reviewers have said, no empathy, sympathy just money, money, money. This company makes me sick! I am 75 years old and need help but none is available from SoFi.

I, like millions of others have lost my job from this coronavirus. ALL other companies (mortgage, car loans, credit cards, various utilities various other loans) have worked with me for deferring my payments for months depending on the company. SOFI will defer only the principal totally. The interest for each month will be spread out over the months of the remaining loan. The principal will be added to the end of the loan. I expected, like all the other companies, the entire payment would be added to the end of the loan. Nobody I know of, chose to get laid off from this virus that has plagued the planet. If the monthly interest is $20 or $350 a month, it seems UNETHICAL to me for them to put their policies ahead of their customers' needs!!!

I applied for a consolidation loan from SoFi after received an offer. I verified income, identity and banking information. Because they wanted SPECIFIC deposit info, I had to drive to a Chase Bank branch that had an open lobby (COVID-19 closure). I got the loan rep on the phone, and she spoke directly with my bank. This process took most of the morning. According to the SOFI rep, we were "All set to go". Imagine my surprise when 90 minutes later I got an email saying the whole process was denied, and I would have to re-apply because they COULD NOT VERIFY MY IDENTITY. This was an earlier and mandatory step in the approval process. Beware of this company - they can and will negatively impact your credit score through malfeasance.

I couldn’t figure out why SOFi kept reporting my payment as late. They will not accept your monthly payment unless you pay them on the EXACT day it’s due!! They will not apply your monthly payment even if it’s a day early!! They will put your early payment as an extra payment and you will have to pay another payment if you goof up on your exact due date. Paying EARLY caucus this!!!! Not late!!!! Total scam to charge late fees and they are ruining people’s credit by reporting late. Horrible, horrible, horrible company!!! Don’t get sucked in.

I applied for a personal loan through SOFI on a Friday. The process seemed quick & easy online. I was approved within about an hour for the amount that I applied for. When it came time to sign the loan documents through their website, which is how they send them, the website kept taking me back to the original loan questions that I had completed when filling out the online application. I called customer service and was told by the representative that a ticket had been sent to their IT department regarding the issue and that this person would call me back on Monday morning to follow up.

The application was easy and efficient. Every person I talked with was very pleasant and professional. The entire process was a great experience and the outcome was exactly what I needed. I highly recommend this company.

SoFi never responded to my emails and declined a loan application simply because I live outside of the United States. I am a natural born citizen but throughout the process they continually questioned my status as a citizen. I had to figure out all of this information on my own by calling them, they were never proactive about communication and I found that to be a major fault on their part.

I don't even know where to start with Sofi. We obtained a personal loan in 2015 after getting the impression they were of higher standards than other loan providers. While not new, I think they began in 2011, they seemed to really be pushing for presence in tv and other ads in 2015. They appear so helpful and modern, catering to young professionals. Don't be fooled.

These people are disgusting! DO NOT EVER seek a loan with them. They will request a plethora of documentation from you, will review none or very little of it. Will request you submit all forms of income and then discredit all of your income, even if you supply your bank statement that VERIFY your income. It is highly upsetting. PLEASE DO NOT RISK THE ADVERSE DECISION ON YOUR CREDIT SCORE!!!! STAY FAR AWAY!!!!

I applied for a personal loan for $20,000, and for some reason I keep getting denied for reasons that don't even sound right. My credit score with Experian is a 756. That is the credit bureau they pull, and I have perfect payment history. Every time, I talk to someone in customer service they tell me some scripted reason which don't make any sense. I have 3 years of credit history, and a credit score way higher than a lot of consumers. This company don't want to give anyone a personal loan. They just want to pull your credit, and play games. My friend referred me to this company, but they don't assist people with GOOD CREDIT. Then when you keep asking customer service questions all they say is they can't do anything if your application is denied. The thing is I should be approved since, I meet all of the requirements!

I am highly educated and have had a very high paying job for over three decades with a credit score of 720. I took out two Personal Loans with SoFi over the past two years to help pay for some major home remodeling projects. Every time I have called SoFi in the past, the customer service dept has been very helpful. Unfortunately, I lost my job a few months ago and applied for their Unemployment Protection Program and was APPROVED. The Forbearance only lasts for three months, and unfortunately I am still unemployed, so I applied for another three month Forbearance (you can have up to one year, but in three month increments). The second time I applied I was declined.

I was approved for a personal loan and signed the disclosure agreement and everything, and in the process of my money being distributed to me, an employee from customer service named Jeanne accidentally cancelled that loan and made it inactive. Then I called customer service who said that it was their error, they told me to apply again and when I did, I did not qualify for the same amount. Then, one customer support agent said she would put in a note to approve me of the same amount and rate, but their system went out and she could not do it.

SoFi will pre-qualify you for a loan, make you send them all kinds of tax documents to prove your income, drag the process out for over a month and then deny you. I have 720+ credit score, $100K annual income, ~15% credit utilization, minimal expenses, no delinquencies, no hard inquiries other than auto-finance two years ago - they just can't seem to wrap their head around the very documents they request and will keep asking you for written explanations for every document you provide... bunch of amateurs handling your sensitive, personal information. Wouldn't be surprised if they have no intention of giving you a loan and instead sell your personal information.

I already have a SoFi personal loan- 25k, paying off automatically every month for the last year. Only debt is Sofi debt and credit card that insignificant. Shifted to a contract job-and by the way I am an Occupational Therapist for the last 15 years, making very good money. They said that the only way to take off my husband's name as a co-guarantor on the loan was to pay off the loan. So I applied for another loan, and granted that it was bigger than the previous, and given all the hassle of documentation that I had to provide, they denied me. Obviously the good reviews here are for the people have been approved. I am giving a bad review, despite having a current loan with them. That apparently doesnt help if you think that you would have built trust with them. And their answers to the denial are very vague. Call me disgruntled but they set your hopes very very high and slap you with a denial.

I have borrowed from Lending Club in the past and it was a great experience, but decided I would try SoFi because they do not have the high origination fee. It seemed easy enough and everyone I have spoken with has been very nice, but as another reviewer put it, the right hand doesn't know what the left hand is doing. I would get one email saying I was approved and would be funded in 4 days or less then another notification saying it was still in review. I got a phone call confirming my identity (which was supposed to be the last step) and saying my loan would be funded the next day and then an email requesting payroll information stating it was in review.

The underwriting department is inept, the right hand doesn't know what the left hand is doing and the service level is non-existent. They make up ratios, don't share the basis of their income or debt service with the applicant and are not transparent. They will give you a pre-approval after running 3 credit reports, then renege, but after they order and you pay for an appraisal from their affiliated company. Truly an awful experience. Getting the loan elsewhere. Spare yourself. Run!

Do not use this company. They told me I was approved and had me submit everything under the sun and after doing so they decided I wasn’t approved anymore. I have a very good credit score. They wasted so much of my time!!

I had a terrible experience with SoFi. After getting preliminary interest rate estimates from multiple companies, I decided to go with SoFi because they offered the lowest rate. I submitted an application, (which requires a hard credit check) only to be told after the hard credit check that I am approved for a rate .6% higher than what they initially told me a few weeks earlier. On top of that, the rate was HIGHER than the interest rate on one of my existing student loans. Let that sink in...they wanted me to refinance 1/3 of my loans at a HIGHER interest rate.

The whole process did not take more than a couple of hours. Since I did the application with LendingTree until I got informed that I was approved by SoFi. When I selected the lender and the offer I wanted I just had to give more information like a copy of my driver's license and proof of my income and that was it. I did everything yesterday afternoon and I was gladly surprised the money is already being processed at my bank account.

Borrowers beware! They lack competence. Terrible experience with this company. I can walk into Chase Bank and borrow whatever amount I need in under 15 minutes. I gave SoFi a test by requesting a small 5K loan in order to try their platform. I did not need the 5K fortunately. The amount of process and verifications they had me go through, I felt that I was being processed on a 50 million $ plus loan. What a shame, for a company to advertise the way these guys do. To top it off, I simply requested the loan processor call me. My request was refused. I requested my application be cancelled.

They offered me the lowest rate, highest loan amount, and best loan term, also their process is user friendly, which is important to me because looking for a loan is already frustrating enough. Their customer service is also very attentive, and polite. A very satisfied overall experience, highly recommend it to anyone.

Not transparent with interest rates, make sure you are planning to end paying an additional 2-3% compared to the initial quote. Very bad customer service rep and oh did I forget to mention there will be multiple credit history checks. Thanks.

As others on here have complained about - this company has to prey on those with less desirable credit situations. I have a 760+ credit score, never late payments, a good job, not a terrible amount of debt and was denied credit. I never get denied credit for anything. This company is a joke. Stay away!!

I have over 800 credit and have been receiving ads to open up everywhere. When I applied, for the first time in my life, they could not verify my info and could not open up my account. What a joke. Their customer service wait time was ridiculous, and then I was sent on a goose egg hunt of transfers to which nobody could tell me what I could send in to verify any information they were missing.

I have credit card debt from living as a single. My job doesn't pay enough like all of us Millennials struggle with. I was hoping to avoid getting a 2nd job so I went to SoFi. They declined a personal loan and all I wanted was a loan for 7,000. Since I've been declined I now have to get a 2nd job. Thanks SoFi, for absolutely nothing. My credit score is beyond what any financial lending company would need for a minimum.

I applied for a personal loan to refinance a high rate personal loan that I needed fast in order to provide immediate money for admitting my father into assisted living. The denial letter states my credit score and inquiries were the reasons for denial - my credit score as listed on the denial letter is 750. I do not understand how a 750 credit score is not considered creditworthy. Very, very disappointing. Thanks for the hard inquiry only to deny my request.

Before you go through the trouble of getting a hard inquiry on your credit, read all the reviews on this company. I applied with a high credit score, high income, low DTI and a 15 year history with the same company and was denied a loan. I sent them two years' of W2's, and two months' pay stubs, and they claim they could not verify my income and to reapply. As the President of my company, I asked them what they needed for verification and they only repeated they could not process the loan due to "lack of income verification".

I really can't complain. My monthly payments are lower by 30%. With SoFi you must have good credit preferably close to or over 700. And their payout could take over 30 days once accepted. This online company are not quick to refi. They take their time.

I just had the worse experience I have ever had trying to get a small refi loan, only #7K. I was told one rate by one SoFi rep and then when applied, the offered rate was higher. When I called their customer support, their only explanation was that the first rep was wrong. It was higher, but not significantly, so I decided to go ahead with the loan. Big mistake! Since I am self-employed, I had to send in last two years tax returns. No big deal, but their upload process did not work so I had to go through a few more hoops to get them the returns.

I took out a personal loan with SoFi. I contacted them today telling them that I request paper statements and I won't have computer access or internet access anymore. They said their "policy" doesn't allow for paper statements. I asked for them to send me this policy in writing, they refused. I asked repeatedly who are they regulated by, they refused to answer. I asked for a copy of our email chat, they refused to send me a copy. I asked for the reps last name and her title, again refused. I told the representative I will be reporting them to the correct agency to governs them, but she refused to tell me who that is. I have since found out and will file this report.

Oh boy where do I begin?! What a bunch of zombies. First off, I am self employed with 3 years of booming tax returns, and a FICO of well above 750, ensuring that I am a well qualified candidate for the personal loan. First off, nobody here knows what the heck they are talking about, especially when it comes to the IRS tax code and establishing a new purchase. I have 2 investment properties listed on my schedule E, and I had just purchased my 3rd property 3 weeks ago (and have proof, of course), yet they still denied me because they BELIEVED that there MIGHT BE a small CHANCE that I would use the proceeds of the loan to improve my other 2 properties.

DO NOT believe them if they encourage you to apply. They completely screwed my credit score. I had an excellent credit score of 810, which I worked hard to build over the years. I needed a personal loan. I knew 100% my income was more than enough to get a loan, but the only issue is that I had a different employment (in between a 1099 and w2).

I have been considering opening and checking/savings account with Sofi. So, today I thought I would take a look at their reviews to see what your experience has been. I have to say, I was shocked to see so many negative reviews. A few months back I searched for a debt consolidation opportunity to help me with high interest credit card debt. I was referred to Sofi from their commercial that my sister saw. The rep was extremely friendly and helpful. I only needed minimal documents and was approved much quicker than expected. Funds were transferred immediately into my account and my payments are automatically deducted per our agreement. As of today, I can say I have no complaints and am looking to do more business with this company. I hope anyone needing to get out from under their debit has the same experience as mine.

Shady and fraudulent. They sent me a cash offer to apply for a loan consolidation, which I did. Then they sent me a bonus second offer, to complete the application, which I did. After I signed it, they would not honor their word and provide the incentives they promised. Management was completely nonplussed by the fact they had blatantly lied to me about the provided incentives. Luckily, I had time to cancel before the paperwork was final. Avoid this company.

I have had a SoFi loan for four years and never once was I late on a payment. Last year my husband became ill with cancer. We had a lot of out of pocket expenses on medical and I missed a couple of payments. I had other creditors in the same situation but when I contacted them every single creditor found a way to help me. Yes some of my accounts were terminated and others I set up a different payment plan etc. SoFi has offered nothing except poor information, assistance and I owe over $1000 to just get within 30 days late. This all happened about five months ago and my credit rating has plummeted. I cant get past 45 days past due even with paying additional money to try and get caught up.

I've been in business for 23 years. I have had personal loans from time to time without any complications. I have been receiving SoFi mailings for months now when I got one that caught my attention by the low interest rate. Well as I'm sure you can figure out I decided to go ahead and see if it was really in my interest to take a vacation. So I began the process and right out of the starting gate red flags began to pop up for me. The website does not work correctly and you are forced to contact them through other means. I chose instant chat. Well that went kind weird because every time I asked a question I was put on hold for minutes at a time. No exaggeration here. Ok funny weird but not that alarming yet. Then I was told my interest rate. Not as good as stated in the mailings but still pretty good and I get it, it's a tactic to hook you.

The application process was fairly straightforward. It required a photo of the ID, front and back, a pay stub and a couple pages from the bank where the funds were to be issued. Within a day or two, it was approved and about a week or two to fund the account. I used both the call center and chat line for questions and both were very prompt in picking up and very helpful and easy to talk to. I plan to engage SoFi again for refi's in the near future. We'll see how they do in that market.

Nearly a month ago we applied for debt consolidation loan. It was pre-approved for $75k with personal scores over 730 and more than $300k in annual household income. They said 2 to 4 days... Well, every week they would ask for some additional documentation. Then nothing for days. Finally, after a month, they said no and provided no real reason other than we had credit card debt (the purpose of the loan was to capture this - so that was apparently a surprise). No one has any idea what they are doing when you talk to them. They called us repeatedly and request the same information. So, now my credit score has dropped as a result of their pulling it, and they had the same information at the end that they had during the "pre-approval". My experiences is that they are either disingenuous or they so disorganized that they really can't pull this off. I personally recommend avoiding them.

If I could give no stars I would. Approved for a personal loan. Never told that I had to have a personal checking account. Evidently brokerage or money market accounts don't work. I was told, "Go out and open a checking account and send us a voided check." If I was told this upfront I would have gone elsewhere. A complete waste of time.

I apply for a personal loan with credit score of 778 and got pre-approved for the loan. I went ahead and upload my identity and income documents and finished the application with one hard pull on experience credit report but I got decline in less than 48 hours. So I called and asked for explanation, they told me they can't verify my identity so I asked what information exactly is missing or is wrong or if I can provide them more identity documents or security questions from public record can fix this but they reject my request and they said they would not share the reason.

SoFi has handled my student loan and an investment account. They have been prompt and transparent in all communications. They require a lot of documentation but customer service is unparalleled. I highly recommend this company!!

I applied for personal loan after they pre-approve for 50k, my FICO is 815. They first asked for my pay stub, I provided that, after few days they asked for w2 & 1040s, I provided that. After few days they asked to verify 1040s so sent me 4056T, I filled the form and uploaded that. After all the info given no response for 2 weeks. I finally chat with the customer service rep, she said because my income is complex, what is complex about a job which I am paid for and have proof of income and she said it's taking time and they want to give me best rate possible, really they gave the rate during pre-approval. Anyways after all that they send email saying declined my loan request, reason I may ask? Oh no reason given, for that I have to contact their credit department again. Which makes me think they did not have any reason. They just gather all your private info and sit on it, maybe sell it to third party. Do not apply with them.

I spoke to someone and told them that I wanted to purchase a church to convert to a home. The person said that was a cool idea, but they could not get me a mortgage loan as it was zoned as commercial (even though I had authorization to change the zoning). They suggested I try the route of personal loan. I answered a few questions and got "PRE-APPROVED" for $50,000. I did not finalize the last steps (of a hard pull) because I did not have the accepted offer from the people I was buying the church from. Today they authorized the sale and I contacted SOFI to confirm the offer was going to be "pre-approved" still once they confirmed the details on my credit report. It turns out, the person on the phone said that I can not use the "PRE-APPROVED" loan on real estate purchases.

I regret that I did not research this company before I submitted my information and applied for a loan. I do not know the outcome, because I am still within the process. However, I applied 2 weeks ago. They have asked me for the same set of documents 4 times. I have even spoken to them twice and had them send me an email so that THEY can upload the information. Even after doing that, I received another email telling me my application is not complete because they need... (you guessed it)... the same information I've sent them already.

I received a pre-approval letter from SoFi last week. I didn't think too much about it but the rates looked very good. I have been looking to consolidate debt and thought I would try SoFi. I applied on a Saturday and sent documents a few times. This became irritating but not awful. So finally by midday Sunday I had all documents to their satisfaction. I have my own rep commissioned business (an LLC S Corp) which shows strong income. My W2 show more modest income. I was apprehensive as I thought they may have difficulty in understanding the income structure and flow. I noticed they pulled a hard credit report on Sunday evening.

Own 2 businesses of my own and work a full time job, Never had a negative mark on my credit history, no repossessions, no foreclosures, no missed or late payments ever in my entire life. I have 35 years of government at every level from federal to State to County and lastly city employment, 30 of those years in Law Enforcement. Simultaneously I have worked in the medical field for 37 years. I hold a Master's degree from a top military university. I have a credit score in the 700s.

Do not do business with this company!!! They will automatically deny you to qualify for a loan with no!! No!! No!! Reason why!! You will never qualify don't even try. Also their customer service is incompetent - just a bunch of young, inexperienced kids, their website is also horrible. My daughter spent 5 months with this company trying to get her loan processed, she was denied with no reason why so she tried with 4 different co-signers - all who had great salaries and credit and all were denied with no explanation from either the website or the customer service. She spent hours on the phone with inadequate customer service when she had issues with their website. All employees she dealt with were unsure of their own processes and how to resolve issues. Save yourself and do not do business with this company.

From what I have read on here all the negative reviews are right on the mark. Let me tell you my experience... I make a good six figure income and have a great score in the upper 700s. I decided to submit for a personal loan to consolidate debt in my efforts to become debt free in the next 12-18 months. I make a good living and this loan would have shaved off a few months from my plan. This process started at the end of July - around the 20th I believe. I googled “best consolidation loan companies” and some respected sites lead me to SoFi.com. After setting up an account and applying for a $50k loan, the interest rate almost doubled from what was advertised. Ok, it’s still slightly better than some of the credit cards. They offer you to automatically withdraw from your bank account to shave off some interest. I opted for that and a 5 year term with intentions of paying more each month against principal.

I applied for a personal loan with SoFi because I thought they were a high-tech, efficient, and transparent company. As it turns out, it's just a marketing trick. Take your time to read the reviews and avoid SoFi if you can. There are better options on the market. First, SoFi is very slow. I have not heard back from the company for a week after applying. My online status said the company would respond in 2-4 days, but time went by and I heard nothing. After contacting customer service three times, I was finally told that SoFi needed to do employment verification, which I completed within 12 hours.

SoFi advised that they were unable to verify employment. They refused to accept any documentation verifying employment or to discuss any of the steps utilized in the underwriting process. They would not discuss who they contacted to verify employment. After a lengthy unproductive discussion, the agent continuously repeated that the steps in the underwriting process are proprietary and that they could not advise anything. They are apathetic in assisting the customer. Any reputable financial institution would at least attempt to verify or ask for additional documentation before denying a loan application. I am very unsatisfied with the lack of service provided. -A Current SoFi Customer.

Tremendously deceptive service. It's the old bait-and-switch with them. First, you give them information and they tell you how much you can qualify for - which in my case was the amount I needed. Then you have to give them more information, driver's licence, pay stub - and they check you hard credit. And then they lower the amount of the loan, no explanation. Yes, after your credit score takes a hit. So then you try and talk to them, and their customer service people are rude. So you have no loan, no explanation to why, and you've got worse credit. Please do not use this service, ever.

I had refinanced my loan with SoFi in December 2017. I also referred my wife to refinance her loan. The refinance process itself was very straightforward. I did refer my wife for the $300 referral program. However as time went by, I did not receive the referral and called inquire as to the status. I was advised that because I did not provide my bank account information or complete a W9 on the SoFi website, and it had been more than 30 days, I would not be receiving the referral payment. I was never told during the process of either loan that I had to complete the W9 and the representative I spoke with today admitted that it is somewhat hard to see in the website.

I really usually don't waste time on doing this but after my experience I must say that I have NEVER EVER have dealt with such crooks! Misleading and trickery people! We lost a house just because they take forever and they advertise a certain criteria for people who has a great credit score, a great career and diplomas. Not bragging but I have scored all them requirements but they hit you with the interest rate!!! Their fancy attractive misleading website which advertise a low APR and once they get you in and waste your time and hit your credit you are stuck in a very critical point. I truly cannot comprehend how and where all them fake reviews appearing from. What I conclude from this experience? I learned to read blogs or real comments and NOT to trust fake online reviews. People! Do your research! Do not let these sharks take your money and waste your time! Sincerely! For the people!

You would think that a company that is all over social media advertising how much it cares about its customers would make it easy for you to pay off your loan, right? Wrong! SoFi is as greedy as any other lending institution out there. I called to ask how I can make a “principal only” payment on my loan. First they told me that I can only make a principal only payment on the date my regular payments are due. I told the rep on phone that did not make sense. She told me that’s the company policy.

I'm surprised to see so many poor reviews for this online finance company. I received a personal loan from them. They did not require more paperwork than any other bank has in the past for other loans (mortgages) and were very prompt in their communication. I did not have the best of credit and was actually in need of the loan at the time and they really helped me out. I have since repaid that loan (in about a year or so) and am looking at a new mortgage with them. I really can't report anything negative.

This was resolved prior to the company response to my initial rating. I will still reiterate to be prepared to have the initial offer interest rate increased after final review. I do find that they take longer than I would expect in finalizing their decision. On the upside I felt the company webpage was very user friendly and even though you feel you are not being dealt with, in reality you are. So when using this company just know it takes about 2-4 weeks to get to the document signing.

**Allow me to begin by stating that after wasting three weeks of my life with SoFi, Lightstream (via Suntrust Bank) approved me for a personal loan and had the funds in my account within 24 hours. Where does this ** show begin? After reading some positive reviews about SoFi's ease in granting unsecured personal loan requests, I logged on to their website. From there I filled out - 100% truthfully - the pre-qualification application. I was promptly pre-qualified for up to $50,000. Great. I worked the numbers on my project and decided that I only needed to pursue $32,000 of the $50,000. As I was working my numbers, SoFi representatives called and text numerous times, encouraging me to finish my full application.

SoFi was listed as a partner with Credit Karma (That is where I got the information about your company). I was pre-approved for a lower rate since Credit Karma is already sharing my credit information with your company. Then why are there different rates on pre-approval, during application process and then at the final process. The customer support rep that I just called mentioned that you cannot consider two jobs for loan consideration. If that was the case, why was I asked to submit pay-stubs and year end stubs and w2’s from both jobs. As per the email, you were not able to verify bonuses from my jobs. I specifically mentioned to a chat rep earlier while uploading documents and requested to note that bonuses from my first job are quarterly, absolutely consistent since the past five years, paid at start of each quarter, second job is based on hourly rates.

I’m currently in a frustrating loan process with this company. I am now worried myself if this company is legit or not. I do have college experience. Currently I am 2 classes away from a degree, when I stopped going. I am also a military veteran with an excellent job making 80k base Yearly with imminent and never ending OT, which puts me over 100k + consistently. Little debt to income ratio. Excellent credit score and history, which is a 799 currently.

I had the soft credit pulled by SOFI to see what my rate would be on an unsecured personal loan. They didn't ask me what I wanted to pay off and instantly turned me down. My credit scores run high 700 to low 800. They claim my debt to income was too high. This makes no sense because first of all they didn't ask how much I wanted to borrow and secondly they didn't ask what I wanted to pay off! Don't you think both of these would affect your DTI? I have been in the banking industry for 17 years and this company is a joke! You don't know someone's debt to income until you know how much they are wanting to borrow and what they are paying off with the loan.

I recently applied for a personal loan and made it through the pre-qualification process - the soft inquiry from Experian. How did I know this? I was told by a SoFi customer service rep there were four offers to review through my online profile. The problem was, I had offers to review but I couldn't see them in my online profile – clearly there was a system glitch. I was told by their IT department (through SoFi’s rep) to give it 48 hours for them to show. I wait the 48 hours and I still can’t review the offers. FYI: I’m now into day four of this ridiculous process.

Applied for a "pre approved" personal loan. No worries. Rate was decent. App was easy. Then the repeat email with the same questions over and over. Phone ringing off the hook. You give them the info they are asking for just for them to call and ask for it again as it was "misplaced". Finally after 6 days of pure BS I received my approval. But by that time my local bank got to me within a day with a superb rate and I went with them. It's a shame this company is so slow on communication but I am glad they dragged their feet because it saved me over 1k in interest. Thanks SoFi! Jokes on you.

I applied for a loan with SoFi where I make well into the 6 figures, credit score of 825, and supplied multitudes of information. I am VP of a firm where in addition to my W-2s and tax returns they wanted employment verification which I again supplied in addition to all the other documents the requested. Every time I called I spoke with a different person in their call center and had to explain my situation again and again - very frustrating they don't have one person you work with. I became a 3% shareholder of my firm in 2017 (18 months ago) and they denied me because I can not show them 2 years of K1s for a firm I have not been a shareholder of for 2 years. Their evaluations are ridiculous and I am amazed they approve anyone. It now makes me nervous what they intend to do with all this information they obtain from people.

I applied at the end of April. Been through ridiculously back forth communications, employment verifications, resubmitting over and over. My score is 795, never late on any loan or card, employed for over 20 years, high income. Today they decided to offer less at a higher rate. Thanks but no thanks. SoFi is extremely shady.

I currently have a high 700s credit score, 6 figure income, and provided them with the large amounts of documentation before cancelling my loan request. The last straw is when they asked for someone from my place of work to verify employment and subsequently started spamming him even after he responded with the form they wanted filled out completed. Not a good experience at all and embarrassing. I applied at Lightstream loans earlier this afternoon and have already gotten my acceptance, account setup for loan disbursement, and a lower rate to boot. I really wish I didn't start with SoFi.

Please DO NOT WASTE YOUR TIME WITH SOFI.COM. With an excellent credit and all the required documentation, I had to wait for almost four weeks only for them to decline my application. I applied to LightStream (a subsidiary of SunTrust bank) and I was approved for a higher amount and lower interest rate within 24 hours. Their customer services is really poor as well.

I have been receiving invitations in the mail from SoFi to apply. So I finally applied for a personal loan. 796 credit score, College grad, Good income. 7 years on the same job. Own my home. No debt. Last salary detail, and state ID uploaded along with the application. SoFi pre-approved me with a 7.5% interest rate. Three days later, I get an email that my application was denied.

Where do I even begin. Over the 15 years or so that I’ve established credit, to include at least 5 credit cards, 3 personal loans, 10 auto loans, and a mortgage, I have never experienced such a ludicrous credit application process. Between mass confusion over the dates of my paycheck, an inability to understand the nature of overtime pay, and myriad other issues that have never cropped up in any other credit application I’ve made, I am completely fed up. In the end, after 13 days of insanity, I was “conditionally approved” for a fraction of my preapproval since they “couldn’t verify the income stated on my application”. Why has every other lender I’ve ever used understood my income? Stay far away from this company if you value your sanity.

I was fully under the impression that my loan was Simple interest. My customer service representative could not answer any of my simple questions, she had to continue to place me on hold and ask someone else. I wanted to know if my loan was Simple interest or Compound interest. This is not a good loan. It is frankly another Credit card to pay off your current credit cards. Compound interest is simply put INTEREST ON INTEREST and is the worst type of loan. DO NOT FALL INTO THIS TRAP!

I started my process for a personal loan of 77k on 3/19/18. Sent in the 3 required documents and was asked for my last pay stub for 2017 which I provided on 3/20/18. 3/21/18 I was notified that my loan was approved & on 3/22/18 my documents were ready to sign but I waited to sign them because the process seemed too easy and I was concerned so I checked into SoFi a little deeper. After reading more about SoFi good & bad I decided to proceed and signed my docs on 3/23/18. On 3/24/18 my status changed and said I’d get a call from SoFi before funding took place. I didn’t get a call so I called them on 3/25/18 & was told that the loan was already in the funding process & in my case a phone call wasn’t necessary which I’m not sure why but went with it. Today on 3/27/18 I have received my funds. Very simple & easy for me.

There was an error with my processing paperwork. Not filled out by me but by my previous servicer and SoFi. My loan did not disperse for 7 weeks and SoFi charged me interest on my loan which means I got doubled charged from both loans. How can that be? I shouldn't be paying double interest on both loans if the money has not been moved. I talked to reps, they gave me a ridiculous explanation. I foresee paying double interest for up to 5 days, but not 7 weeks. I wrote the CEO. I got one phone call from a rep. Attempted to call back and got the main line. I don't want to talk to a new person each time.

SoFi has sent me mailer after mailer encouraging me to apply for a loan with them. I applied online for a personal loan (they have a $10,000 minimum loan amount) which I was pre-approved for. After that, I took a two-week vacation and left my app pending. During that time I received numerous text messages and emails from them reminding me that I had been pre-approved and encouraging me to complete the application process. I did so around the end of February of 2018, providing the documentation they required. Last two years tax returns, last 5 pay stubs, and a copy of the front and back of my driver's license. They also required employment information such as my supervisor's name and contact information, which I provided. After that, they asked me for more pay stubs as well as some sort of employment verification code "employer name and code and salary key" which I guess is linked up to ADP.

I am an owner in several businesses and SoFi is constantly marketing to me so when I needed to purchase some new equipment for another venture I decided to try them for financing. This process was humiliating and embarrassing. I submitted years of documents for both businesses as well as my personal info and at a certain point was in too deep to stop so kept providing info even when they asked for items I submitted earlier. In spite a credit score just below 800 they declined the loan... This was after 3 weeks of back and forth with new documents they requested. Finally received a call from customer service apologizing for requesting documents that were not even available for a business. Declined the next day. Thanks. I turned to Marcus from Goldman Sachs which has also marketed to me and was approved in less than 12 hours with very little documentation. Would definitely not recommend SOFI.

I read all the reviews, and while thinking I probably wouldn’t qualify because my CC debt is so high and have only decent credit I decided to try anyway. I needed to consolidate about $40K into a lower interest rate. To my surprise- I was approved and now there is a light at the end of the tunnel. 9 days from initial application to funds in my bank account and am delighted to say am now saving $700 a month in payments. I’m ecstatic. :)

Be careful that you would get tricked by their initial low interest rate. After sending after application, they will increase your APR by some "reasonable" reasons. Also, their refer program is to get more people in to pay more interest costs by sending you some low bonus. Say, you use a refer link from your friend from their website. So you apply for $10,000 loan, and they would give you $100 as bonus since you are referred by your friend. But then your interest rate would jump to 11%. If you do not use their refer link, you could get only 8% interest rate. By such a program, then people could get tricked to pay extra $1200 due to the higher interest rate.

Applied for a personal loan was denied. My credit score was over 700. Was told I had too many obligations... Ok SoFi, I understand, but you have a lot of negative reviews which you should be aware of...it will affect you in long run. I will apply somewhere else. Goodbye SoFi.

Complete waste of time for nearly six months of submitting and resubmitting documents - when they asked for 5 years of back income tax statements - had enough of this process as stated by others' comments on this site that it would have been easier to get a $10 million commercial loan. Absolutely ridiculous experience and each person I talked to said it was being processed but nothing ever happen. I too now believe it is just a front to get as much personal data collection as possible.

I submitted an application through SoFi after getting bombarded with offers via email and snail mail from this company. I provided my personal identifiable information - PII (e.g., driver’s license and proof of income) as requested. My application was declined, because couldn't verify my income. I asked to speak with a manager and I couldn’t even get a reason why I was declined. I provided numerous paychecks and yet can’t verify my income. No one called me asking, "Can you provide a letter from HR???" NOTHING!!!! Is this the customer service you give? Even the Manager said, "I should have qualified”! I provided enough documentation of past two years and current of income and yet couldn't give me an answer except "We apologize for this inconvenience".

Before this was published I was contacted again by SOFI via the office of the CEO and that actually resolved my issue and were very apologetic about the process and how they plan on improving things moving forward. I tried to delete the review as I think its only fair they owned up to their failures and explained why it was a more difficult application to process. I would totally recommend them based on the fact they cared to go the extra mile to resolve the issue.

I submitted a credit application to SoFi after being referred by LendingTree. I provided all the documentation requested right away and I got a turn down, even though when talking to their so called credit analyst before the turn down they said they don't see why it would go through. It all looks good. After the turn down I was told my income did not add up even though my mortgage company, bank, and other lending institutions have and do say that my pay adds up. I asked the person on the phone how they calculate it and what was the number they came up with, he said, "I can not tell you that and I am not sure how they calculate the number. All I know is you are way way off."

My issue with SoFi is very similar to other complaints on this review board - I submitted an application through SoFi after getting bombarded with offers via email and snail mail from this company. I provided my personal identifiable information - PII (e.g., driver’s license and proof of income) as requested. My application was declined, but I haven’t received a solid reason why.

Don't apply if you had a bankruptcy - 8 years ago I had a fiance, massive credit, and soon massive debt. Luckily my relationship blew apart and I pulled the ripcord. Chapter 7 allowed me to see in HD again, and getting rid of the woman, but anyway 8 years ago I BK'd. Solo or whatever their name should state. Don't apply if you had a BK ever. Waste of time.

If you don't have a credit score of over 800. Don't waste your time with this company. I applied for the minimum loan amount of 5,000 to consolidate (4) high interest Capital One accounts after receiving a pre-qualified/pre-screened offer in the mail. The Company strung me along for weeks asking for additional documents and proofs like utility bills, statements and acknowledgments I had to obtain and send them. This high tech loan processing? I spoke to customer service over this time period and they indicated to me that the application would have been declined after the credit report was pulled if it did not meet certain credit worthy standards.

Everything was cleared up, and things are moving forward. I am very happy with the results.

Their loan advertisement is enticing. Unfortunately everything SoFi promises in their advertisements does not happen as promised. I did my research carefully and made my comparisons with other lenders; SoFi came out as my #1 choice. Based on their requirements, I uploaded all docs successfully. Then they proceeded with the hard inquiry of my credit. They took their sweet three weeks’ time and came back to tell me it's declined because they were unable to verify information provided. Ok, tell me what went wrong in the process of verification so I can help facilitate that. The response I kept getting from the customer services and later from the manager is that they used third party verification to decline my application. But I was never given a chance to rectify the problem with the verification issue.

First, I would really like to start off with saying, if there is anyone that is not sure if they should trust the reviews you are reading, I'm here to tell you, yes, you should trust them. When I was looking for a company to get a personal loan, I read the reviews and I kept telling myself, this company has a great approval %, and maybe the customer is just unhappy. As a business owner myself for 13 years, I know you can't please everyone and I have had customers upset write reviews on my business as well.

Payback in full within 5 years. Monthly payment plan auto deduct from paycheck. Low interest rate. Easy to manage. Had no issues with any of payments and no delinquent fees. Did not require any support after initial setup. No issues at all. There is nothing more to add because there were no problems or issues and that is why it was a happy experience. The application process was all inclusive and very detailed so that all the informations necessary was easily available and there was no reason for later contacts and additional required information. No counseling services were required because all upfront information was sufficient to answer any questions we would have had later.

It has a lot of payment options and gives you time before the interest starts to kick in. I really like that and it is easy to talk to their people. It is easy to contact them and the wait time is not that long. I am happy on how fast I got to talk to someone. I was expecting it to be longer. Not too many questions that make it hard. I am happy with how easy it is to apply for the loans. Easier than other application. They helped me a lot when I needed it. I am happy with the service that they provide. Easy and fast. Happy with what they provide.

I always pay with my debit card online and it works for me and then I get a receipt back from them once a month and I also have their number so I can get a hold of them. They have a 24 hour line that you can call to get a hold of them if you need anything or have any trouble. It is good and they even work with you. The application process is easy - just go online and fill out the application.

There are convenient payment options that allow you to make payments using all majorly accepted methods including credit card and check. I have never officially used the customer support, but I have heard that the customer support is very helpful in solving issues and concerns. The application process was a little long, but it was thorough to get all of the necessary information. I did not feel that I was giving more information than what was needed. I have not used the counseling services myself, but I have spoken to people who find the counseling services to be very helpful in understanding the terms and conditions.

The payment options of SoFi are very connected and convenient and are made simple for me to complete. They are set up to make my life much easier and are a very secure form of payment as well. I trust that my information is always safe and secure with this company. I would really begin to recommend this company because they have amazing customer support and are always available twenty four hours a day to help me with any problem or issue that I may have. I would really recommend the application process of this company. It is very simple and clear to understand and I can always trust there will be always someone there to help me with it if needed. The counseling services of this company are something that I would definitely recommend to others because they are helpful and do everything in a real professional manner.