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SoFi Credit Card review

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Advertiser Disclosure

Annual Fee
Interest Rate: Purchases
15.99% ‐ 27.99% (Variable)
Interest Rate: Purchases
15.99% ‐ 27.99% (Variable)
Balance Transfer
15.99% ‐ 27.99% (Variable)
Balance Transfer
15.99% ‐ 27.99% (Variable)
1% cashback
1% cashback
Signup Bonus
Signup Bonus

Informr score
The SoFi Credit Card currently has an Informr score of 8.2 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...

The SoFi Credit Card is a great choice for SoFi customers who want to save, invest, or pay down a loan on their SoFi accounts. But for other customers? Not so much.

- Siobhan Neile,
The Ascent
The Ascent

The SoFi Credit Card is an ideal flat-rate rewards card if you don't mind redeeming your rewards into your SoFi accounts or towards your SoFi loan. The field of 2% cash back cards with no annual fee isn't huge, and the SoFi Credit Card can be a good way to boost your savings or pay down debt faster....

- Brittney Myers, The Ascent

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

The SoFi Credit Card may be a worthwhile card option if you already have accounts with SoFi. How valuable this card turns out to be depends on the amount of rewards you earn and how you use them. If you're adding them to a SoFi savings or investment account or paying down debt, then you'll get more...

- Rebecca Lake, MyBankTracker

Unless you’re planning to refinance a loan, SoFi doesn’t make a compelling case to switch over. You’ll have to set up at least one SoFi cash management account to keep your rewards’ value and there are no intro APR periods to justify the stiff balance transfer fee. On the other hand, if you’re alrea...

- Garrett Yarbrough, Grace Pilling, Bankrate


Interest Rates
Regular APR Interest Rate 15.99% ‐ 27.99% (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 15.99% ‐ 27.99% (Variable)

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

Cash Advance Interest Rate 29.99% (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


Sign up bonus No
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
Minimum Security Deposit $0
Minimum Age 18
Minimum Personal Income
Temporary Residents No
Additional comments

Currently available for SoFi members notified via email.

Terms & Conditions Official Terms & Conditions
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