Relay Money Management
Spend and Save
Smarter.
SoFi Relay helps you set budgets, categorize your spending, and spot upcoming bills – all for free.
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The insights you’ve always wanted.
Stay on top of your finances by seeing where your money comes and goes.
Say hello to a budget planner.
Say goodbye to spreadsheets with our customizable budgets. Easily set budgets and get updates on your progress.
See upcoming bills.
Don’t pay more than you need to. We’ll track bills to help make sure you never miss a due date.
Get insights into your spending.
Spending categories lets you see how your money gets earned and spent each month across all your SoFi and external accounts.
Free credit score & credit utilization insights.
Track your credit score weekly and understand the factors that drive change, like your credit utilization.
FAQs
SoFi leverages the TransUnion VantageScore 3.0 model which includes several key components:
- Payment History – comprised of whether you regularly pay your bills on time.
- Credit Age and Type – average age of your credit accounts and mix of various types such as revolving debt and installment debt. An example of revolving debt is a credit card and an example of installment debt is a student loan.
- Credit Utilization – the percentage of your credit limit you currently have outstanding.
- Balances – balances on your credit accounts including current balances as well as delinquent accounts.
- Inquiries – recent inquiries or applications for new credit.
- Available Credit – amount of available credit that is unused.
Checking your own credit report is considered a soft inquiry, which does not impact your credit score.
Your credit score is used by lenders, among others, as they review your applications for credit and determine your creditworthiness which might influence if they are willing to extend credit and at what terms. It might also be used by landlords, utility providers, and prospective employers.
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