SoFi Complaints and Reviews
Last Updated On: December 27, 2017
RatingsAverage Rating: 1.00 out of 5
Based On: 2 Reviews
Number Of Comments: 2
Damage ReportsCurrently No Reports of Damages.
Most Recent Complaint
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.
Most Recent Reviews
Do Not Refinance Your Student Loans With Them
Complaint Filed By: Bi
On: October 21, 2014
Rating: 1 out of 5
Do NOT refinance your student loans with SOFI / Trustudent. If I could give them negative stars, I would. I...
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More About SoFi
SOFI Healdsburg - 375 Healdsburg Ave #280 Healdsburg, CA 95448