May
14
2021
Friday Fundings: Caris Life Sciences, Vinted, and Acquco
Caris Life Sciences, Vinted, and Acquco raised fresh funding this week. Learn why investors are excited about these companies and more.
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SoFi Blog
Tips and news—
for your financial moves.
May
12
2021
Relay Investment Tracker
See all your
investments in
one place.
SoFi Relay provides a detailed breakdown of your accounts and individual holdings, giving visibility into your investment performance.
Get started
The insights you’ve always wanted.
SoFi Relay helps you understand how all your investments change with the market.
Track all your investments.
Connect your investment accounts and get updates on your portfolio.
Manage progress towards your retirement.
SoFi Relay automatically categorizes your retirement accounts so that you can see how close you are to your retirement goal.
See changes in your net worth.
Helpful charts and tables make it easy to track changes in your net worth over time.
Get financial advice from a specialist.
Access SoFi Member benefits like personalized advice from a credentialed financial planner at no additional cost.
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.
See more FAQs
May
12
2021
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.
See more FAQs
May
12
2021
Credit Score Monitoring
Check your score and
start building your credit.
SoFi Relay tracks your credit score and gives you real-time alerts when your score changes and insights you can take to improve your credit.
Get started
Get Your Money Right® starts with your credit score
Sign up for credit score monitoring in under a minute and
begin getting insights into your financial health.
Monitor your credit score.
Track your credit score at no cost, with weekly updates to help you stay on top of when your score changes.
Get Insights On Your Credit.
Understand the factors that drive your credit score and what you can do to influence them.
Manage Your Credit Utilization.
Link your credit & loan accounts to to actively monitor your utilization and payment progress.
Get Financial Advice from an Expert.
Access SoFi Member benefits like personalized advice from a credentialed financial planner for no cost.
The power to track what impacts
your credit score.
Understand what affects your score.
Stay up-to-date with any changes to the key factors contributing to your credit score and learn about the influence you can have on them.
Powered by TransUnion®.
Get your VantageScore® 3.0 credit score, a model developed by all three national credit reporting companies.
This won’t hurt your credit score, or your wallet.
We only do a “soft” pull on your credit. Check your score as often as you want—it won’t hurt your score, and it’s at no cost to you.
Get started
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.
See more FAQs
May
11
2021
Retirement Accounts SEM LP
Help grow your retirement savings with a SoFi IRA.
Prepare for retirement with a SoFi-managed Roth or Traditional IRA from SoFi Invest.
Open a SoFi IRA
Retirement Investing
Welcome to retirement
investing by SoFi.
Take control and save for retirement with SoFi’s active or automated Traditional, Roth, and SEP IRAs. Get access to a broad range of investment options, member services, and our robust suite of planning and investment tools.
Set your goals.
Not sure where to begin? No problem. Whether you’re just getting started or want to roll over another account, we can help develop a plan that works for you.
Diversify your portfolio.
With our active IRAs you’ll get access to a broad range of investment options plus free trades. Or choose an automated IRA, and we’ll build a custom portfolio with a mix of stocks and bonds based on your risk tolerance.
Get solid advice—at no cost.
Speak with one of our financial planners to get a clear understanding of your current financial situation—and set up a strategy for moving forward.
Active or Automated?
Choose which one is right for you.
Learn more
FAQs
Can I open an IRA online?
Yes – SoFi Invest® makes opening an online IRA easy. Opening an online IRA takes less
than 5 minutes, and we will help you choose the right mix of assets to meet your
retirement goals.
Is it better to have a 401k or IRA?
Choosing between a 401k and an IRA is dependent on your needs for retirement and current situation.
Many people choose actually to use both types of retirement accounts in their lifetime
What are the different types of IRAs?
IRA is a broader term of a number of different types of retirement accounts – each with their own
function and purpose. A SoFi Financial Advisor can help you determine which type of IRA plan may best
fit your needs
How do I move my 401k to an IRA?
SoFi Invest offers a range of retirement accounts and 401k rollover options.
We offer Traditional, Roth, and SEP IRAs, and can help with the rollover
process.
Can I have multiple IRAs?
Yes, you can open multiple IRA accounts. Please note the IRS contribution
limits still apply across all accounts and are not limits per account.
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