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SoFi Credit Card review

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Advertiser Disclosure

Annual Fee
$0.00
Interest Rate: Purchases
13.24% ‐ 25.49% (Variable)
Interest Rate: Purchases
13.24% ‐ 25.49% (Variable)
Balance Transfer
13.24% ‐ 25.49% (Variable)
Balance Transfer
13.24% ‐ 25.49% (Variable)
Rewards
1% cashback
Rewards
1% cashback
Signup Bonus
-
Signup Bonus
-


7.9/10
Informr score
The SoFi Credit Card currently has an Informr score of 7.9 out of 10. This score is based on our evaluation of 11 sources including reviews from users and the web's most trusted critics.

Am I eligible?


SoFi Credit Card is typically available to those with good credit scores (650 or greater).
To get this card, you must also:
Yes Be a permanent or temporary resident of USA

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...


NextAdvisor
NextAdvisor

The SoFi Credit Card works much like other 2% flat cash back cards, but offers the best value if you already have another SoFi account. To get the full 2%, you’ll need to redeem your rewards toward a SoFi checking, savings, investment, crypto, or loan account balance. There’s no annual fee and you’l...

- Holly Johnson, NextAdvisor
The Ascent
The Ascent

It designed to encourage members to save and pay down debt. Crypto investors will also appreciate the ability to redeem rewards for crypto. Cardholders earn 2% cash back when they make purchases and redeem into an eligible SoFi account, but that falls to 1% cash back if it's redeemed as a statement...

- Brittney Myers, The Ascent
BankCheckingSavings
BankCheckingSavings

When you open a SoFi Credit Card, you’ll be able to gain cash back on your daily transactions. Additionally, it comes with many features and perks that will appeal to you as well. One of the main benefits is that it comes with no annual fee or limitation on spending categories.

- Anthony Nguyen, BankCheckingSavings
Bankrate
Bankrate

Fantastic features like unlimited 2 percent cash back and a lower APR after 12 on-time payments may make the SoFi Credit Card seem like a top flat-rate rewards credit card with generously low interest. And while this take could ring true for some cardholders, there are several caveats that chain the...

- Garrett Yarbrough, Grace Pilling, Bankrate
MyBankTracker
MyBankTracker

The SoFi Credit Card is a cash back rewards card that's designed to help you reach your financial goals. You can earn unlimited 2% cash back when you redeem it to save, invest or pay down debt. You can even redeem for cryptocurrency like Bitcoin in your invest account. That's a big shift from the ty...

- Rebecca Lake, MyBankTracker

Details


Interest Rates
Regular APR Interest Rate 13.24% ‐ 25.49% (Variable)
  • Make 12 on-time payments, and lower your APR by 1%
  • This APR will vary with the market based on the Prime Rate.
Balance Transfer Interest Rate 13.24% ‐ 25.49% (Variable)

This APR will vary with the market based on the Prime Rate.

Cash Advance Interest Rate 27.24% (Variable)

This APR will vary with the market based on the Prime Rate.

Rates & Fees
Annual Fee $0.00
Balance Transfer Fee 5%

Minimum of $10

Cash Advance Fee 5%

Minimum of $10

Foreign Transaction Fee $0.00
Over Limit Fee $0.00
Late Payment Fee $39.00

Maximum

Promotions
Sign up bonus No
Rewards
All Purchases 1% cash back

When you redeem it to pay down eligible debt, save, or invest with SoFi, they'll throw in an extra 1% toward your goal, for a total of 2%

Restaurants No
Gas No
Groceries No
Hotels No
Travel No
Pharmacy No
Bills No
Additional Details

Earn 5% cash back rewards on orders for use on future purchases

Features & Benefits
Additional Card Holders Yes
Travel Accident Insurance No
Car Rental Insurance No
Car Rental Discount No
Extended Warranty No
Purchase Protection No
Zero Liability Yes
No Foreign Transaction Fees Yes
Emergency Assistance Yes
Concierge Service Yes
Price Protection No
Fraud Protection Yes
Free Credit Scores No
Wireless Payments No
Virtual Cards No
Additional Benefits
  • $5 Lyft credit for every 3 rides taken in a month, once per month
  • Free Shoprunner annual membership of $79
  • 3-month free trial of DashPass for non-members + $5 discount on two orders each month for DashPass subscribers
  • Cell phone protection
  • Mastercard ID theft protection
  • $5 off future movie tickets or at-home purchases for every 2 movie tickets purchased (through double points on Fandango VIP).
  • Save 10% on thousands of splendid rental homes and villas in cities worldwide with onefinestay
  • Mastercard Priceless Golf
  • Complimentary professional travel services
  • Mastercard Hotel Stay Guarantee
Eligibility
Minimum Security Deposit $0
Minimum Age 18
Minimum Personal Income
Temporary Residents No
More
Additional comments

Currently available for SoFi members notified via email.

Terms & Conditions Official Terms & Conditions
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