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expired Posted by SlickTex • Aug 4, 2020
expired Posted by SlickTex • Aug 4, 2020

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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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
550 Posts
Joined Apr 2006
Aug 4, 2020
ken.yong
Aug 4, 2020
550 Posts
What to do if they denied my application? Also, are they doing hard pull or soft pull?
1
Aug 4, 2020
9,298 Posts
Joined Feb 2011
Aug 4, 2020
erictom
Aug 4, 2020
9,298 Posts
max 10000 points
Aug 4, 2020
5,236 Posts
Joined Jun 2010
Aug 4, 2020
wpc
Aug 4, 2020
5,236 Posts
hmm, open a sofi account to cash out $10 in points? no thanks
Aug 4, 2020
164 Posts
Joined Jan 2017
Aug 4, 2020
gtp2nv
Aug 4, 2020
164 Posts
Quote from ken.yong :
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
3,275 Posts
Joined Feb 2014
Aug 4, 2020
iuku
Aug 4, 2020
3,275 Posts
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
164 Posts
Joined Jan 2017
Aug 4, 2020
gtp2nv
Aug 4, 2020
164 Posts
Quote from ken.yong :
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
2,927 Posts
Joined Sep 2014
Aug 5, 2020
msp3
Aug 5, 2020
2,927 Posts
Just did it Samsung Reward points truly are worthless nowadays

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Aug 8, 2020
2,216 Posts
Joined Oct 2005
Aug 8, 2020
MisterBill
Aug 8, 2020
2,216 Posts
Quote from msp3 :
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
676 Posts
Joined Feb 2007
Aug 8, 2020
craigg
Aug 8, 2020
676 Posts
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
9,298 Posts
Joined Feb 2011
Aug 8, 2020
erictom
Aug 8, 2020
9,298 Posts
Quote from iuku :
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
444 Posts
Joined Jul 2006
Aug 8, 2020
popyu
Aug 8, 2020
444 Posts
If you already have SOFI Money, can Samsung rewards be linked? Or is this a completely different product?
Aug 8, 2020
2,176 Posts
Joined Mar 2011
Aug 8, 2020
ffly45
Aug 8, 2020
2,176 Posts
Quote from craigg :
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
2,927 Posts
Joined Sep 2014
Aug 8, 2020
msp3
Aug 8, 2020
2,927 Posts
Quote from popyu :
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
2,176 Posts
Joined Mar 2011
Aug 8, 2020
ffly45
Aug 8, 2020
2,176 Posts
Quote from msp3 :
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
2,927 Posts
Joined Sep 2014
Aug 8, 2020
msp3
Aug 8, 2020
2,927 Posts
Quote from ffly45 :
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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