SoFi, a nationally chartered bank, is renowned for its lending products. Established in 2011, the company initially focused on student loan refinancing. Later expanded its offerings to include personal loans, mortgages, investment and banking services, and insurance. Now most recently, the SoFi Credit Card.

The SoFi Credit Card, a cash-back card with a twist. You can earn 3% cash back on trips booked through SoFi Travel and unlimited 2% cash back on all other purchases. What sets this card apart is its versatile rewards program. Cash back earned can be redeemed for statement credits, deposited into various SoFi accounts, or used to pay off SoFi student loans or personal loans.



SoFi Credit Card details

SoFi Credit Card rewards

With this card, you can earn 3% cash back on trips booked through SoFi Travel and unlimited 2% cash back on all other purchases.

Redeem your SoFi cash back through your online account, where having banking and investment accounts with SoFi proves valuable.

SoFi Credit Card rewards potential

Based on our estimations using government data and publicly available information, a typical household in the U.S. that might consider the SoFi Credit Card has an annual income of $84,352 and expenses of $25,087 that they could potentially charge to a credit card.


If this household were to use the SoFi Credit Card for all purchases, earning 2% cash back, they would accumulate $501.74 in rewards on $25,087 in purchases.

Additionally, if they were to book a trip through SoFi Travel, earning an elevated 3% cash back rate, a $7,000 trip would yield $210 in rewards.

To calculate your own rewards potential, simply multiply your projected expenses by the applicable cash back rate (2% for general purchases, 3% for SoFi Travel bookings).

Cell Phone Coverage

The SoFi Credit Card offers cell phone coverage, protecting you in case of theft or certain repairs. You’ll receive up to $800 in coverage per claim and up to $1,000 in total coverage with two claims per year.

World Elite Mastercard Perks

As a World Elite Mastercard, the SoFi card also provides exclusive perks through Mastercard, including:

Complimentary Instacart+ Subscription: Enjoy a two-month subscription to free delivery with Instacart+ at no cost.

Lyft Credit: Receive a $5 Lyft credit once per month when you pay for three Lyft rides within a month.

ShopRunner Benefits: Enjoy free two-day shipping with numerous online retailers through ShopRunner.

The SoFi Credit Card is ideal for individuals focused on enhancing savings, reducing debt and initiating investments.

Security Features

Enjoy your spending experience with peace of mind, the SoFi Credit Card offers zero fraud liability protection, to protect you against unauthorized charges, and ID Theft Protection, to support you when your identity is stolen.

SoFi Credit Card APR

The SoFi card offers a variable APR ranging from 20.24% to 29.99% on purchases and balance transfers. However, it does not include any 0% intro APR offers for purchases or balance transfers.

SoFi Credit Card pros

The SoFi card offers high rewards rates for SoFi members, with rewards holding the best value when redeemed into another SoFi account.

Additionally, the card does not carry an annual fee, making it more accessible to users.

Furthermore, SoFi does not charge foreign transaction fees for card purchases made outside of the U.S., providing added convenience for international spending.

SoFi Credit Card cons

The SoFi Credit Card does not provide a 0% intro APR offer on purchases or balance transfers.

Additionally, cash back rewards do not stack on top of other rewards associated with the SoFi Credit Card or SoFi Plus.

Also, the requirements of SoFi Credit Card exclude people that don’t have an excellent credit score. So, it’s a financial product designed only for people with an excellent credit history.


Eligibility Criteria

Before applying for a SoFi Credit Card you must:

  • Be 18 years or older (or of legal age in your state of residence)
  • Reside legally in United States
  • Have a physical U.S. mailing address
  • Possess a valid Social Security number (SSN)
  • Have an excellent credit score

How do I apply for a SoFi Credit Card?

To apply, simply follow these steps:

  • Click on the provided link and sign up for your profile.
    Fill in your personal and financial details to check your eligibility. This initial application won’t affect your credit score.
  • Fill out the application form with the information requested.
  • Provide your phone number to receive a six-digit code for two-factor authentication.
  • Enter the code received and press the button “Next”.
  • Enter your social security number.
  • Provide your date of birth and click ‘Next’ (applicants must be at least 18 years old).
  • Submit your application
  • Wait for approval, you will receive an email.

Rates and fees

  • Annual Fee: None
  • Regular APR: 20.24 percent to 29.99 percent (variable)
  • Balance transfer fee: Either $10 or 5 percent of each transfer, whichever is greater.
  • Cash advance fee: Either $10 or 5 percent of each advance, whichever is greater.
  • Late payment fee: up to $41
  • Returned payment fee: None

How to unlock SoFi Credit Card

  • Log into your SoFi account.
  • Navigate to your credit card page.
  • Click ‘More’ then ‘Your Card’
  • Toggle the ‘Freeze card’ button on/off to add/remove a freeze.

SoFi Bank Customer Service

  • Chat with Credit Card Support  (844) 945-SOFI (7634)
  • Available 24 hours by phone.