Sofi Credit Card is a great card for people who are looking for a way to save money, invest and pay down any of their debts.
This cards lets you earn a 2% unlimited cash back on eligible purchases when redeemed towards saving, investing, or paying down a qualifying loan with SoFi. And you have the chance to lower your APR by 1% when you make 12 on-time payments. Not only that, this card has no annual and no foreign transaction fees.
The Sofi Credit Card is issued by Bank of Missouri/Mastercard. You can also compare this card with other credit card bonuses!
See our best bank bonuses updated daily to earn up to $1,000 in free money. Find popular checking offers such as Chase Bank, HSBC Bank, TD Bank, Huntington Bank, BBVA, Discover Bank, and CIT Bank. See our best rates for Savings and CD too. |
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| Chase Business Complete BankingSM $300 Bonus | Chase Total Checking® $200 Bonus |
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| HSBC Advance Checking $200 Bonus | HSBC Advance Checking Up To $240 |
| TD Bank Beyond Checking $300 Bonus | TD Bank Convenience Checking $150 Bonus |
| Huntington 25 Checking $300 Bonus | Huntington Business Checking 100 $200 Bonus |
| Huntington Unlimited Business Checking $400 Bonus | Huntington Unlimited Plus Business Checking $750 Bonus |
| Axos Basic Business Checking $100 Bonus | Aspiration Spend & Save Account $100 Bonus |
| Ally Invest Up To $3,500 Bonus | Discover Bank $360 Cashback Debit |
| WeBull 2 Free Stocks | BlockFi Up To $250 BTC Bonus |
SoFi Credit Card Summary
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| Bonus Available | No sign-up bonus available |
| Ongoing Rewards/Benefits | Earn 2% unlimited cash back on eligible purchases when redeemed towards investing, saving, or paying down an eligible loan with SoFi
Get lower APR by 1% when making 12 on-time payments Cell phone protection and get up to $1,000 covered Mastercard ID theft protection $10 Lyft credit when you take 5 rides per month |
| Foreign Transaction Fees | $0 |
| Annual Fee | None |
* Bonus value is an estimated value calculated by HMB and not the card issuer.
View the latest valuations here.
Recommended Free Credit Score
680 – 850 (Good-Excellent)
PROS
- Bonus rewards rate
- Unlimited 2% cash back
- No annual fee
- Lower APR after 12 on-time payments
- No foreign transaction fees
- Lyft Credit
CONS
- High balance transfer + cash advance fees
- No bonus or higher earning categories
Earning Points & Rewards
You can earn 2% cash back in SoFi Rewards point when you make an eligible purchase such as paying down eligible debt, saving money or investing with SoFi.
Sofi adds the cash back rewards earned to your SoFi Member rewards program balance.
Please note that if you don’t make the minimum payment for a billing cycle by the payment due date, you will not earn points for purchases posted to your account during that billing cycle.
As an additional offer, this card allows you to get $10 Lyft credit when you take 5 rides per month because this card is counted as a World Elite Mastercard®.
Redeeming Rewards
Earn 2% unlimited cash back on eligible purchases when redeemed towards investing, saving, or paying down an eligible loan with SoFi.*
You can easily redeem rewards and points by:
- Promotional offers listed on the redeem points page
- Cash deposited into your SoFi Money account
- Shares credited to your SoFi Invest account
- Cash applied to the balance of your SoFi student loan or SoFi personal loan
Sofi Credit Card Benefits
- APR Discount: Receive a 1% APR discount after making twelve on-time payments.
- No Foreign Transaction Fees: Save 2 to 3% on foreign transactions compared to many other cards without an annual fee.
- Free Cell Phone Insurance: Get reimbursed the actual cost to replace or repair a stolen or damaged eligible phone up to twice per 12-month period and up to $800 per claim and $1,000 per 12-month period, after paying a $50 deductible.
- World Mastercard Benefits: Cardholders have access to discounts and benefits through World Mastercard, including but not limited to Lyft discounts, concierge services and ShopRunner membership
- ID Theft Protection
- EMV Chip Technology
- Travel and emergency hotline
| My favorite bank transfer hub is the American Express® High Yield Savings Account: • Earn 0.50% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • No monthly fees, no minimum balance. • 24/7 Account Access |
Bottom Line
Sofi Credit Card makes it easy to automatically redeem your cash back towards your eligible SoFi loans, savings, or investing each month.
This is a great credit card if you’re looking to pay off any loans you may have through SoFi. Also, this card works if you’re interested in investing and saving money with SoFi.
Check our the latest promotions from Sofi and make sure to also visit HMB to explore more credit card bonuses.
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Cell Phone Insurance Protection, Mastercard ID Theft Protection™, Lyft and Other Partner Rewards have additional terms and conditions, which can all be accessed through the World Elite Mastercard® Benefits portal. Please see your guide to benefits for details or call 1-800-MASTERCARD
| PROMOTIONAL LINK | OFFER | REVIEW |
| Chase Business Complete BankingSM | $300 Cash | Review |
| Chase Total Checking® | $200 Cash | Review |
| HSBC Premier Checking Member FDIC | $450 Cash | Review |
| HSBC Premier Checking Member FDIC | Up To $600 | Review |
| HSBC Advance Checking Member FDIC | $200 Cash | Review |
| HSBC Advance Checking Member FDIC | Up To $240 | Review |
| Huntington 25 Checking | $300 Cash | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience CheckingSM | $150 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $750 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $200 Cash | Review |
| Axos Bank Basic Business Checking | $100 Cash | Review |
| Aspiration Spend & Save Account | $100 Cash | Review |
| Ally Invest | Up to $3,500 Cash | Review |
| BlockFi | Up To $250 BTC | Review |
| American Express High Yield Savings | 0.50% APY | Review |
| Discover Cashback Debit Account | $360 Cash | Review |
