One of my favorite cash management account, SoFi Money, is offering 10% cash back at select grocery stores and streaming services! This is the latest perk of being a SoFi member.
Ninja Update: SoFi Money is no longer available to new users. Instead, you can get the SoFi Checking and Savings account that comes with a $325 welcome bonus! See this and other offers at our Sofi Promotions page.
SoFi Money is a cash management account that takes the best features of a checking and savings account and rolls it into one account. I previously reviewed SoFi Money in detail where I gave it 9.2 out of 10 stars.
While the product has many great perks, a rather unconventional benefit of being an account holder is all the cash back offers you’re entitled to.
Don’t have an account yet? You can download the app and get a $15 bonus.
SoFi Money Cash Back Offers
SoFi Money frequently offers members the chance to earn cash back by using the debit card for various purchases. For example:
- getting $1,000 from November 2019 to February 2020 when they offered 20% cash back on all Lyft rides
- combining a 10% offer on Netflix and a 20% offer on streaming services to get a total of 30% cash back on Netflix subscription costs
10% Cash Back At Grocery Stores & Streaming Services Offer
SoFi has just launched another great offer that allows you to earn 10% cash back at the following grocery stores and streaming services:
- Whole Foods
- Trader Joe’s
All you need to do is pay these expenses with your SoFi Money debit card and the cash back will be credited back to your account within 2 to 3 business days. Easy peasy lemon squeezy.
You’ll get the 10% back at grocery stores and streaming services if you satisfy one of these two conditions:
- You were a SoFi Money account holder before June 9, 2020 OR
- If you signed up after June 9, you’re still eligible as long as you’re depositing $500 or more a month into your SoFi Money account
This is the first offer that terms like this exist. Previously, everyone was eligible. Now, if looks like SoFi will grandfather you in if you became an account holder before the new terms became effective.
I view this as a minor inconvenience. Technically, you could just deposit $500 one day and withdraw a couple of days later be satisfy the new requirement.
The Bottom Line
This should be useful for a lot of ninjas. Most of these brands are available nationwide.
The Netflix and Disney+ options will probably help people, especially parents, keep their sanity during this unusual time.