Is my SOFI refinancing bonus taxable income?

[okayplayer]

Okay, to settle this once and for all (and since I am on vacation and not working today), I called Sofi. The gentleman I spoke to said once the amount reached $500 they consider it income and generate a 1099. Referral bonuses less than $500 do not generate a 1099 and are also not considered income per Sofi.

Doesn’t make any sense to me, but I ever get audited this is what I will tell them.