Beginning May 9, 2025, financial technology company SoFi and cashback platform Rakuten have partnered to offer a new combined bonus promotion for customers who enroll in SoFi Plus, SoFiโs premium subscription service. Eligible participants can receive up to $125 in rewards by signing up through Rakuten and meeting specific requirements, marking one of the most lucrative incentive packages tied to SoFi Plus to date.
Up to $125 Bonus for SoFi Plus Subscribers via Rakuten
The promotion structure involves two components: Rakuten will provide a $75 cash bonus or 7,500 Membership Rewards points for customers who enroll in SoFi Plus using the Rakuten platform, while SoFi itself will add a $50 bonus credited in SoFi rewards points. Together, these bonuses total $125 for qualifying customers.
To participate, users must sign up for SoFi Plus either by paying the monthly $10 subscription fee directly or by qualifying via eligible recurring direct deposits made to a SoFi Checking or Savings account. Enrollment must be initiated by clicking through Rakutenโs offer page and then completing the sign-up on SoFiโs website.
For those new to Rakuten, a separate $30 signup bonus is also available, potentially increasing the overall value for new customers.
Eligibility Criteria and Terms
The promotion applies to both new and existing SoFi members who have not previously enrolled in this specific offer. To receive the $50 SoFi rewards bonus, participants must maintain their SoFi Plus membership for a minimum of 90 calendar days following enrollment. The eligibility window spans from 12:01 a.m. ET on May 9, 2025, until 11:59 p.m. ET on December 31, 2026.
Participants are required to:
- Click on the promotional link distributed via Rakuten or other official communications.
- Enroll in SoFi Plus either by paying the subscription fee or by receiving an eligible direct deposit into a SoFi Checking or Savings account within 45 days of clicking the link.
- Sustain the SoFi Plus membership for at least 90 days.
Completion of all steps must occur within 135 days of clicking the promotional link. This welcome offer cannot be combined with SoFi Plus referral bonuses.
What is SoFi Plus?
Launched as an upgrade to the traditional SoFi membership, SoFi Plus is a subscription-based service priced at $10 per month. It offers various premium features, including higher rewards rates on SoFi credit products, enhanced customer support, and additional financial tools designed to provide users a more personalized money management experience.
SoFi Plus can be paid for out-of-pocket or effectively covered by maintaining an active direct deposit with SoFi Checking or Savings accounts, which incentivizes the active use of SoFiโs banking services.
SoFiโs Strategy and Market Position
SoFi Technologies, Inc. has aggressively expanded its product offerings in recent years, evolving from a student loan refinancing company into a broad-based digital lender and fintech provider. Its emphasis on integrated financial services, including checking, savings, investments, and credit products, aims to capture a growing demographic of younger consumers seeking one-stop financial management platforms.
Partnerships like the one with Rakuten align with SoFiโs marketing strategy to rapidly grow its user base by leveraging popular online shopping and cashback ecosystems. Rakuten boasts millions of members internationally, providing SoFi with a broad channel for customer acquisition.
Financial analysts suggest that such incentive programs, while costly upfront, can enhance customer lifetime value. โAcquiring customers via partnership bonuses despite initial losses is a calculated long-term investment in fintech,โ said Mark Caldwell, a fintech market analyst at Capital Insights. โRetention and cross-selling of financial products are key drivers of profitability.โ
User Perspectives and Considerations
For consumers, this combined offer presents an attractive opportunity, especially for those already considering SoFiโs subscription services or banking products. However, potential subscribers should consider the commitment required: maintaining the monthly SoFi Plus membership for at least three months, with either recurring direct deposits or the $10 monthly subscription fee.
Some users may weigh whether the benefits of SoFi Plus notably improve their banking, credit, or investment returns relative to the cost. As noted by financial advisor Teresa Nguyen, โSubscription fees for premium financial services can be worthwhile if the user actively leverages the enhanced benefits, but less so if they only sign up to get bonuses and then discontinue.โ
How to Redeem the Offer
Interested customers should begin by creating or logging into a Rakuten account. After signing into Rakuten, they must access the SoFi Plus promotion page and click โShop Nowโ to register for the offer. This process ensures tracking for bonus fulfillment.
Following this, participants can complete the registration for SoFi Plus and, if applicable, open a SoFi Checking or Savings account to qualify through the direct deposit route. It is important to follow all steps within the stipulated time frames to avoid missing out on bonuses.
Looking Ahead: Promotions and Fintech Competition
Continuous promotional offers such as this highlight the increasing competitive pressure within the fintech sector, especially among digital banks and financial subscription services. Companies are experimenting with novel incentives to attract financially savvy customers who may otherwise remain with traditional banks.
Rakutenโs role as an aggregator and cashback facilitator positions it as a key player in this ecosystem, providing additional avenues for fintech companies to connect with consumers.
Industry watchers anticipate further collaborations and flexible reward structures as fintech firms seek differentiation. โWeโre likely to see more integration between shopping platforms and financial services,โ Caldwell added. โThe lines between spending and banking rewards will continue to blur.โ
Resumen
- SoFi and Rakuten offer a combined $125 bonus for new SoFi Plus subscribers signing up via Rakuten.
- The offer runs from May 9, 2025, to December 31, 2026, and requires maintaining SoFi Plus membership for at least 90 days.
- SoFi Plus costs $10 per month or can be accessed through eligible recurring direct deposits.
- Rakuten offers an additional $30 signup bonus for new members.
- The promotion cannot be combined with SoFi Plus referral offers.
Consumers interested in signing up should carefully review the terms to maximize benefit and consider how SoFi Plus fits within their overall financial strategy.
For more information on SoFi Plus and detailed steps to claim the Rakuten bonus, visit Rakutenโs official website and SoFiโs promotion page.
Puede mantenerse al dรญa sobre ofertas de viajes y noticias financieras a travรฉs de destacados medios como elย PGN Business Insider
