- Unlimited 2% cash back towards financial goals.
- Incentives to save, invest or pay down debt.
- No annual fee.
- No initial welcome bonus.
- 5% balance transfer fee.
The SoFi Credit Card is a rewards card that offers you 2% cash back on elgible purchases so long as you redeem your rewards to a qualifying SoFi product. (otherwise 1% if redeemed as a statement credit). SoFi offers a variety of products including student loans and personal loans.
This card is offered to people with good or excellent credit, and it has a standard interest rate of 12.99% - 24.99% variable APR depending on your creditworthiness. When you make 12 on-time payments, you’ll receive a 1% drop in the standard interest rate that you pay. It’s also part of the Mastercard World Elite Program, which offers benefits like the Mastercard ID Theft Protection and $1,000 in cell phone insurance when you pay your cell phone bill with the card. This program also features numerous travel and shopping discounts. You even get a monthly $10 Lyft credit when you take five rides per month. Best of all, it has no annual fee and no foreign transaction fees.
Newly approved cardholders can earn up to $100 when they open and fund a SoFi Money® and SoFi Invest account. 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
