SoFi Credit Card

SoFi Credit Card

on SoFi's website

SoFi Credit Card

SoFi Credit Card

SoFi Credit Card

on SoFi's website

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Card details

  • Earn up to $100 when you open and fund a SoFi Money and a SoFi Invest account after getting approved for the SoFi Credit Card (See Terms).

  • Earn 2% unlimited cash back on eligible purchases when redeemed towards investing, saving, or paying down an eligible loan with SoFi.

  • When you make 12 on-time payments, we’ll lower your APR by 1%.

  • No annual fee.

  • No foreign transaction fees.

  • Cell phone protection (insurance coverage up to $1,000)**.

  • Mastercard ID Theft Protection™**.

  • $10 Lyft credit when you take 5 rides per month**.

  • **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.

Rates, fees & offers

  • Annual fee

    $0

  • Rewards rate

    2%

  • Bonus offer

    Earn up to $100 when you open and fund a SoFi Money and a SoFi Invest account after getting approved for the SoFi Credit Card (See Terms)

  • Intro APR

    N/A

  • Ongoing APR

    APR: 12.99% - 24.99%, Variable

    Cash Advance APR: 26.99%, Variable

  • Balance transfer fee

    The greater of $10 or 5% of each balance transfer

  • Foreign transaction fee

    None

Recommended credit score

Compare to other cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual Fee

$0

Annual Fee

$95

Annual Fee

$0 intro for the first year, then $95

Regular APR

12.99% - 24.99% Variable APR

Rates & Fees

Regular APR

15.99% - 22.99% Variable APR

Regular APR

13.99% - 23.99% Variable APR

Rates & Fees

Intro APR

N/A

Intro APR

N/A

Intro APR

0% intro APR on Purchases for 12 months

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score

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NerdWallet review

By Sara Rathner

Rating details

4.7

Editor's overall rating

Pros and cons

Pros
  • No annual fee

Cons
  • No intro APR period

At first glance, the $0-annual-fee SoFi Credit Card is a straightforward credit card that earns 2% cash back on all eligible purchases — among the best rates you can find on cards in its class.

But it's designed a little differently from others promising similar rewards. Technically, you earn points worth 1 cent each, and to get to that 2% rate, you must redeem those points toward investing, saving or paying down an eligible loan with SoFi. Other redemption options aren't as valuable.

You don't have to be a SoFi customer to get the card, but it's certainly best suited for those who have other SoFi accounts, so they can redeem rewards at the highest value. If you're not interested in joining the SoFi ecosystem, there are other credit cards that earn 2% cash back on purchases, and with fewer hoops to jump through.

For more information, see NerdWallet's full review of this card.