Refinance with Sofi and get 50,000 JetBlue miles

[coug16]

You have to refinance at least $100,000 for the full 50,000 JetBlue points. (Shouldn't be a problem for most docs) JetBlue points have a value of Roughly 1.5 cents/point so the total value would be around $750 assuming you can/do fly JetBlue.

http://www.prnewswire.com/news-releases/sofi-and-jetblue-help-customers-managing-student-loans-earn-reward-travel-300465324.html

[The White Coat Investor]

SoFi has lots of affiliate partners, including me. When you refinance, you essentially get to choose which one you would like to support. If you prefer JetBlue to WCI, that's your right.

The current WCI deal gives you $300 cash back in your pocket: http://www.sofi.com/whitecoat

[ginmqi]

Interesting. Looks like companies are getting into the student loan repayment rewards game.

You can also use credit cards to pay off loans and meet sign up bonuses that will cost far less than $100,000 that will net you 50k worth of points/miles. Chase had a card that will net you 100,000k pts after $4k spend in 3 months. Now its down to 50k. You can use multiple cards and get 40-100k pts for $1000-$3000 of spending.

Or can just use existing card to accumulate points if someone is paying off large loans. Info here: https://www.reddit.com/r/churning/comments/640mgv/guide_to_paying_student_loans_with_credit_cards/

 

For example, I have the Chase Sapphire Reserve. If I were to put $100,000 through that credit card as loan payment, that's 100,000 chase points...equivalent to $1500 in travel rewards if I were to spend via the Chase rewards portal. Of course there is fee with this process so the net take will be closer to $500....

 

 

[DMFA]

ginmqi wrote:

Interesting. Looks like companies are getting into the student loan repayment rewards game.

You can also use credit cards to pay off loans and meet sign up bonuses that will cost far less than $100,000 that will net you 50k worth of points/miles. Chase had a card that will net you 100,000k pts after $4k spend in 3 months. Now its down to 50k. You can use multiple cards and get 40-100k pts for $1000-$3000 of spending.

Or can just use existing card to accumulate points if someone is paying off large loans. Info here: https://www.reddit.com/r/churning/comments/640mgv/guide_to_paying_student_loans_with_credit_cards/

 

For example, I have the Chase Sapphire Reserve. If I were to put $100,000 through that credit card as loan payment, that’s 100,000 chase points…equivalent to $1500 in travel rewards if I were to spend via the Chase rewards portal. Of course there is fee with this process so the net take will be closer to $500….

 

 

Click to expand...

Many servicers are no longer accepting credit card payments, even the good ol' manual by-phone payments.

[ginmqi]

DMFA wrote:

ginmqi wrote:

Interesting. Looks like companies are getting into the student loan repayment rewards game.

You can also use credit cards to pay off loans and meet sign up bonuses that will cost far less than $100,000 that will net you 50k worth of points/miles. Chase had a card that will net you 100,000k pts after $4k spend in 3 months. Now its down to 50k. You can use multiple cards and get 40-100k pts for $1000-$3000 of spending.

Or can just use existing card to accumulate points if someone is paying off large loans. Info here: https://www.reddit.com/r/churning/comments/640mgv/guide_to_paying_student_loans_with_credit_cards/

 

For example, I have the Chase Sapphire Reserve. If I were to put $100,000 through that credit card as loan payment, that’s 100,000 chase points…equivalent to $1500 in travel rewards if I were to spend via the Chase rewards portal. Of course there is fee with this process so the net take will be closer to $500….

 

 

Click to expand…

Many servicers are no longer accepting credit card payments, even the good ol’ manual by-phone payments.

Click to expand...

This is true if you simply want to pay directly....which is no longer allowed this year. And hence my reddit link post which explains still some legitimate ways to pay via credit cards...it does come at extra fees though.

There are still ways to pay loans with credit cards...just not directly. The method mentioned include buying a Gift of College "debit" card with a credit card (its a0.9% fee) and you can use the bought gift cards to pay Nelnet/loan servicers.

Another method is a bill paying service that you can charge to your credit card (Plastiq) that will then send a check to pay bills (loans, rents, etc.) but this has higher fees and may not be worth it.

 

There are other ways to pay with credit cards that is a bit more in the morally greay area.....