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The SoFi credit card is a cash rewards Mastercard with no annual fee. You can get 3% cash back for a year when you set up direct deposit with SoFi, 2% cash back on everyday purchases when you redeem rewards towards a SoFi Money account, a SoFi Invest account, or a SoFi loan. SoFi also offers a $100 cash bonus when you open and fund a SoFi Money and a SoFi Invest account within 30 days of being approved for the credit card.
SoFi offers interest rates range from 12.99% – 24.99% (variable) APR for individuals with excellent credit. If you make 12 consecutive on-time payments, your interest rate will automatically be reduced by 1% APR.
The SoFi Credit Card is ideal for anyone looking for a credit card, both for existing SoFi members and those looking for a new bank. You can claim 3% cash back for a year when you set up direct deposit with SoFi, and 2% cash back when redeeming rewards in a SoFi Invest or SoFi Money account, or towards a SoFi loan. In addition, you can manage your credit card transactions from the SoFi mobile app, which also enables you to manage other SoFi products.
The SoFi Credit Card is also suitable for anyone looking for a new bank. If you get approved for the SoFi Credit Card, and then open a SoFi Invest, and a SoFi Money account at the same time, they offer a $100 cash bonus.
The SoFi Credit Card does not have an annual fee and there are no foreign transaction fees. Interest rates range from 12.99% – 24.99% (variable) APR depending on your credit history. You can reduce your interest rate by 1% APR by making 12 consecutive on-time payments.
| Annual Fee | None |
| Interest Rate (APR) | 12.99% – 24.99% (variable) |
| Foreign Transaction Fee | None |
The SoFi Credit Card offers 2 points for every $1 you spend. If you redeem these points into a SoFi Money account, a SoFi Invest account, or towards a SoFi loan, then every point is worth one cent. So, you get a cash back rate of 2%.
If you redeem points as statement credit for your SoFi credit card account, every point is worth 0.5 cents. This is equal to a cash back rate of 1%.
SoFi also offers a $100 bonus when you open a credit card account and then open and fund a SoFi Money and a SoFi Invest account within 30 days of being approved. You must deposit at least $100 in each account to qualify. See pricing terms & conditions. See rewards details.
You can apply for a SoFi Credit Card online. You must verify your mobile phone number and email. You must also submit your social security number for a hard credit check, which can impact your credit score. SoFi can approve your application online in minutes and mail your card within 7-10 business days.
SoFi offers 24/7 phone support for credit card accounts. The SoFi website also has a detailed FAQs page that offers detailed information about how to use the card.
Phone (24/7): (855) 456-7634
The SoFi Credit Card comes with Mastercard ID Theft Services, which includes identity fraud monitoring and resolution. SoFi also protects your online account with two-factor authentication and you can opt-in to automatic text and email alerts when suspicious purchases are detected.
Can I use the SoFi credit card abroad?
Yes, you can use the SoFi Credit Card internationally and there are no foreign transaction fees.
Can I use the SoFi credit card with Apple Pay?
The SoFi Credit Card is compatible with Apple Pay, Google Pay, and Samsung Pay.
The SoFi Credit Card offers no annual fee, 3% cash back for a year when you set up direct deposit with SoFi, and 2% cash back when you redeem to a SoFi Invest or SoFi Money account or towards a SoFi loan. You can also get a $100 welcome bonus when you open and fund a SoFi Invest and a SoFi Money account after being approved. The SoFi Credit Card is integrated into the SoFi mobile app, so you can easily manage all of your accounts from one place.
This review used information from the SoFi website and the SoFi Credit Card terms and conditions sheet.
