SoFi Credit Card
SoFi Credit Card
Card details
Earn up to $200 when you fund an Invest account as well as a Checking and Savings account after getting approved for the SoFi Credit Card (See Terms).
Earn 3% cash back rewards for a year when you set up direct deposit with SoFi. After that, earn 2%* unlimited cash back on purchases when redeemed toward investing, saving, or paying down an eligible loan with SoFi. Plus, redeem points toward crypto.
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.
- View Rates and Fees
Rates, fees & offers
Annual fee
$0
Rewards rate
2%-3%
Bonus offer
Earn up to $200 when you fund an Invest account as well as a Checking and Savings account after getting approved for the SoFi Credit Card (See Terms).
Intro APR
N/A
Ongoing APR
APR: 13.24%-25.24%, Variable
Cash Advance APR: 27.24%, 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
 SoFi Credit Card | ||
|---|---|---|
| Learn more | ||
Annual fee$0 | Annual fee$99 | Annual fee$95 |
Regular APR16.74%-23.74% Variable APR | ||
Intro APRN/A | Intro APR0% intro APR for 15 months on balance transfers made within 45 days of account opening. | Intro APRN/A |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
NerdWallet review
By Sara Rathner
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Rating details
4.7
Editor's overall rating
Pros and cons
Pros
No annual fee
Cell phone insurance
Flexible rewards redemption
Cons
No intro APR
Best rewards limited to certain customers
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.
