Consumer complaint received 2024-11-19 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers — Confusing or misleading advertising about the credit card
Company: SOFI TECHNOLOGIES, INC.
State: TX

Complaint narrative:
To whom this may concerned : I am writing to file a formal complaint regarding an issue I encountered with a promotional 0 % balance transfer offer from SoFi Credit Card. I was misled by inconsistent information and was unable to complete the balance transfer despite multiple attempts. I believe this situation is misleading and/or deceptive and I am seeking your assistance in resolving the matter. 

To summarize the situation : Opening the Account and Balance Transfer Attempt : On [ insert date ], I opened a SoFi Credit Card and immediately attempted to complete the balance transfer to take advantage of the 0 % promotion. I attempted the balance transfer using a variety of my own personal credit cards ( at least XXXX in total ), including a mix of XXXX and XXXX cards from different major banks. 

Each time I attempted the transfer, I received an error message saying, No account found. Despite using valid, active accounts in my name, the system failed to process the transfer. 

Over the course of several weeks, I reached out to SoFis customer service team via chat and phone multiple times. Each time, I was informed that none of my credit cards were compatible with the balance transfer program, with no clear explanation provided. I was told that my transfer attempts could not be processed due to an issue with the cards I was attempting to use. 

Misleading Information Regarding Promo Expiry : Additionally, I was repeatedly told by SoFi representatives that I had until XX/XX/XXXX to complete the balance transfer for the promotional 0 % interest offer. However, on XX/XX/XXXX, when I logged into my account, I discovered that I no longer qualified for the promotion, which contradicts the information I had been given. This has caused confusion and distress, as I was actively trying to take advantage of the promotion within the time frame. 

I believe that SoFi has acted in a misleading and deceptive manner by failing to disclose the technical limitations of the balance transfer system, providing inconsistent information about the promotion, and not honoring the timeline they communicated. This has resulted in my being unfairly denied access to the advertised offer. 

I am requesting the following : An investigation into the failure of the balance transfer system and why I was unable to complete the transfer despite repeated attempts. 
A review of SoFis communication and handling of my case to determine whether I was provided with clear, accurate, and truthful information about the promotion and its requirements. 
A resolution that either reinstates the 0 % balance transfer offer or provides a fair alternative. 
I believe that SoFi has not only failed to honor the terms of their promotional offer, but they have also engaged in misleading and deceptive practices, which I am hoping you can help address. 

Thank you for your attention to this issue. Please let me know if you require any further information or documentation from me. 

Sincerely, latrecia

Company response to consumer: Closed with explanation