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SlickTex 12K Views
Aug 4, 2020 4:43 PM

Convert Samsung Rewards points into cash using SoFi

Samsung
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Found this while signing up for the SoFi card in Samsung Pay app on phone. For those of you who have points expiring this may be a way to convert them to cash.

One-time offer available for a limited time and while supplies last upon signup for Samsung Money by SoFi. Requires 1,000 or more points (1,000 points = $5).

there is also a promo that yo I will enter draw for $1000 when you open the SoFi account and fund it.

https://news.samsung.com/us/samsu...0for%20ope
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About the Poster
Found this while signing up for the SoFi card in Samsung Pay app on phone. For those of you who have points expiring this may be a way to convert them to cash.

One-time offer available for a limited time and while supplies last upon signup for Samsung Money by SoFi. Requires 1,000 or more points (1,000 points = $5).

there is also a promo that yo I will enter draw for $1000 when you open the SoFi account and fund it.

https://news.samsung.com/us/samsu...0for%20ope

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33 Comments

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Aug 4, 2020 4:53 PM
555 Comments
Joined Apr 2006
ken.yongAug 4, 2020 4:53 PM
555 Comments
What to do if they denied my application? Also, are they doing hard pull or soft pull?
1
Aug 4, 2020 4:54 PM
9.3K Comments
Joined Feb 2011
erictomAug 4, 2020 4:54 PM
9.3K Comments
max 10000 points
Aug 4, 2020 4:58 PM
5.3K Comments
Joined Jun 2010
wpcAug 4, 2020 4:58 PM
5.3K Comments
hmm, open a sofi account to cash out $10 in points? no thanks
Aug 4, 2020 8:21 PM
164 Comments
Joined Jan 2017
gtp2nvAug 4, 2020 8:21 PM
164 Comments
Quote from ken.yong View quoted comment :
What to do if they denied my application? Also, are they doing hard pull or soft pull?
They do a soft pull. Because I don't have any inquiries on my reports from them. And I opened one on day one.
Aug 4, 2020 8:22 PM
3.3K Comments
Joined Feb 2014
iukuAug 4, 2020 8:22 PM
3.3K Comments
I get email asking to sign up and get $50, but don't want to do it as no better perk and it is debit card.

ETA, have fund account $500 to get $50.
Aug 4, 2020 8:22 PM
164 Comments
Joined Jan 2017
gtp2nvAug 4, 2020 8:22 PM
164 Comments
Quote from ken.yong View quoted comment :
What to do if they denied my application? Also, are they doing hard pull or soft pull?
Also I will say they're very particular about the address used. So that may be why you were denied.
I typically use a po box for my mailing address. But they forced me to use a physical. So after I opened the account I went through the web browser login instead of the app and changed my mailing address to the po box. And that's where they sent my card.
Aug 5, 2020 8:42 PM
3K Comments
Joined Sep 2014
msp3Aug 5, 2020 8:42 PM
3K Comments
Just did it Samsung Reward points truly are worthless nowadays

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Aug 8, 2020 6:39 PM
2.4K Comments
Joined Oct 2005
MisterBillAug 8, 2020 6:39 PM
2.4K Comments
Quote from msp3 View quoted comment :
Just did it Samsung Reward points truly are worthless nowadays
WERE worthless. Not anymore. i just cashed out at 1/2c per point. Sadly, I lost over 10,000 points over the past several months since I did not have enough to get anything useful and the vouchers went away.

Of course, it looks like you get almost no points now for just using SP, so maybe future uses will be worthless.
Aug 8, 2020 8:14 PM
677 Comments
Joined Feb 2007
craiggAug 8, 2020 8:14 PM
677 Comments
I signed up for the referral bonus and I took advantage of the points redemption. An easy $100+ so far. For those interested they do a soft pull on Equifax.
Aug 8, 2020 8:16 PM
9.3K Comments
Joined Feb 2011
erictomAug 8, 2020 8:16 PM
9.3K Comments
Quote from iuku View quoted comment :
I get email asking to sign up and get $50, but don't want to do it as no better perk and it is debit card.

ETA, have fund account $500 to get $50.
Is $50 bonus targeted?
Aug 8, 2020 8:50 PM
449 Comments
Joined Jul 2006
popyuAug 8, 2020 8:50 PM
449 Comments
If you already have SOFI Money, can Samsung rewards be linked? Or is this a completely different product?
Aug 8, 2020 9:15 PM
2.2K Comments
Joined Mar 2011
ffly45Aug 8, 2020 9:15 PM
2.2K Comments
Quote from craigg View quoted comment :
I signed up for the referral bonus and I took advantage of the points redemption. An easy $100+ so far. For those interested they do a soft pull on Equifax.
referral bonus for "Samsung Money by SoFi" account or regular SoFi?
Aug 8, 2020 11:29 PM
3K Comments
Joined Sep 2014
msp3Aug 8, 2020 11:29 PM
3K Comments
Quote from popyu View quoted comment :
If you already have SOFI Money, can Samsung rewards be linked? Or is this a completely different product?
Yes. In fact, if you already have SoFi Money it *must* be linked not new account, I had to wait until the notification that linking is allowed (which is now) not just new account
Aug 8, 2020 11:43 PM
2.2K Comments
Joined Mar 2011
ffly45Aug 8, 2020 11:43 PM
2.2K Comments
Quote from msp3 View quoted comment :
Yes. In fact, if you already have SoFi Money it *must* be linked not new account, I had to wait until the notification that linking is allowed (which is now) not just new account
can you clarify what you mean by "which is now"? if i open a regular SoFi Money account, can that be linked with Samsung Pay right away to cash out points?
on the app the banner says redeem points with "Samsung Money by SoFi" account. no one has confirmed yet "regular" Money account can be added to Samsung Pay to cash out points as well.

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Aug 8, 2020 11:49 PM
3K Comments
Joined Sep 2014
msp3Aug 8, 2020 11:49 PM
3K Comments
Quote from ffly45 View quoted comment :
can you clarify what you mean by "which is now"? if i open a regular SoFi Money account, can that be linked with Samsung Pay right away to cash out points?
on the app the banner says redeem points with "Samsung Money by SoFi" account. no one has confirmed yet "regular" Money account can be added to Samsung Pay to cash out points as well.
Samsung Money by SoFi was opened at first to new accounts, and anyone with an existing SoFi account had to wait to link (will not approve if you are anywhere in the SoFi system). Now both new accounts and linking are open to anyone, so you can either sign up inside Samsung Pay or sign up elsewhere for the regular account and link/convert to the Samsung version

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