The SoFi $0 annual fee credit card is a simple credit card that earns 2% cash back on all qualifying purchases, among the best rates you can find on cards in its class. But it's designed a little differently from others that promise similar rewards.
| Positive points | Negative points |
|---|---|
| Sign-up Bonus | No introduction APR |
| Annual fee: $ 0 | Better rewards limited to certain customers |
Technically, you earn points worth 1 cent each, and to get to that 2% rate, you must redeem those points to invest, save, or pay off a qualifying loan with SoFi.
You don't have to be a SoFi customer to get the card, but it's certainly better suited for those with other SoFi accounts so they can redeem rewards at the higher rate.
| Benefits | |
|---|---|
|
Rewards
|
Earn 2 points for every $1 spent on qualifying purchases |
|
Transaction
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No foreign transaction fee |
|
Secure
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Mobile insurance |
|
Redemption
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Flexible Redemption Rewards |
Rewards
Earn up to $200 in cash rewards after spending $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 reward points, which can be redeemed for $200 when redeemed in a SoFi, Invest or Loan checking/savings account; or $100 as a statement credit. Click the button below to apply for your card.
I Want My CardRedemption options
Redeem at a value of 1 cent per point as cash deposited into your SoFi Checking and Savings account, as whole or fractional shares credited to a SoFi Invest account, or as cash applied to the outstanding balance on SoFi Student, SoFi Refinance loans.
Redeem at a rate of 0.5 cents per point for a statement credit.
Earn 3%
Earn 3% cash back rewards for one year when setting up direct deposit with SoFi. After that, earn 2% unlimited cash back on purchases when redeemed to invest, save or pay off a qualifying loan with SoFi. Click the button below to apply for your card.
I Want My Card
