SoFi Complaints and Reviews SnapShot

Last Updated On: December 27, 2017

Contact Information

Business Name: Social Finance Inc
Corporate Address:
One Letterman Dr Building C Main Fl #250
San Francisco, California 94129 USA

Customer Service

Corp Email:
Company Contact: Mike Cagney - CEO
Corp Website:


Average Rating: 1.00 out of 5
Based On: 2 Reviews
Number Of Comments: 2

Damage Reports

Currently No Reports of Damages.

Most Recent Complaint

Is SoFi a Scam, Rip Off, or Fraud? WARN OTHER CONSUMERS By Sharing

Very slow approval process - Don't do business with them

I applied for a personal loan. I expected everything would be approved instantly or at least within 24 hours, as that has been my experience with other financing arrangements. After 2 days, I thought I’d check the status and clicked on the link in my confirmation email message. It was then that I Iearned they needed additional information before they could review the application. If that were the case, why didn’t they email me to ask for the additional information? The loan application could have sat in that status if I had not taken the initiative to check.

So then I called customer service the next night to find out how long the approval process would take and was told a few more days. I asked why and was told because they have to check everything. I said like what; I had provided all that was requested and it doesn’t take but 5 minutes to check the credit report companies. I was told they have to be sure there is no fraud. I was astounded. Fraud I asked? It should be easy to find out that my application was not fraudulent. Again I was told they have to check everything.

Getting nowhere with the customer service representative, I asked that my loan application be canceled. Then I asked if I could get an email confirmation of the cancellation and she said yes. I asked how long that would take. She said a couple of days. I ended the call by saying how sorry I was I wasted my time with this company.

Word to the wise: don’t do business with SoFi or if you do, give yourself plenty of advance time to get approved. They apparently don’t make the customer their top priority.


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I applied for a loan and submitted the required doc’s as requested. They stated they needed two more doc’s I submitted one along with a letter stating the other was mailed by my retirement board. They then sent me a denial listing after gathering my bank account etc. You mean to tell me they didn’t know this when they ran my credit report up front? Right after this I started get loan request at a higher amount from other so-called online companies, kind of strange isn’t it. This company gathers your information and then sells it. It’s a scam.

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