This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Earn Rewards." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
The SoFi Credit Card is a good credit card for SoFi customers who have a good or excellent credit score and want to put their rewards toward SoFi payments or deposits. The SoFi Card has a $0 annual fee and gives 2 points per $1 spent on all purchases normally, worth 2% cash back.Info about the SoFi Unlimited 2% Credit Card has been collected by WalletHub to help consumers better compare cards. The financial institution did not provide the details.
WalletHub Rating Breakdown
User Reviews
3.5/5
51 reviewsRead and write reviews
Editor’s Review
3.5/5
John Kiernan, Credit Card EditorRead full review
Market Comparison
Market Comparison
4.1
The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Earn Rewards” for this card.
Fees
5.0
Rewards
3.4
Cost
4.6
Other Features
0.0
4.1/5
Compared against 1,500+ credit cards
KEY TERMS
Accepted Credit Scores
Accepted Credit Scores
Excellent Credit, Good Credit
SoFi Credit Card Annual Fee
$0
SoFi Credit Card APR on Purchases
20.24% - 29.99% (V)
SoFi Credit Card Balance Transfer
APR: 20.24% - 29.99% (V)
Balance Transfer Fee:5% (min $10)
SoFi Credit Card Rewards
Earn 2 points on all eligible purchases, which can be redeemed for 2% cash back towards investing, saving, or paying down an eligible loan with SoFi or as statement credit.*
Earn unlimited 3 points per $1 spent when you use your SoFi Credit Card to book trips through the new SoFi Travel powered by Expedia.
Members earn 2 rewards points for every dollar spent on purchases. No points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem points for cash deposited into your SoFi Checking or Savings account, SoFi Money® account, fractional shares in your SoFi Active Invest account, as a statement credit to your SoFi Credit Card account, or as a payment to your SoFi Personal, Private Student, or Student Loan Refinance, your points will redeem at a rate of 1 cent per every point. For more details please visit the https://www.sofi.com/card/rewards page. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.
The SoFi Credit Card is a good credit card for SoFi customers who have a good or excellent credit score and want to put their rewards toward SoFi payments or deposits. The SoFi Card has a $0 annual fee and gives 2 points per $1 spent on all purchases normally, worth 2% cash back.
If you don’t plan to pay the card’s bill in full every month, the SoFi Credit Card is not for you. The SoFi Card’s high regular APR will quickly erode any rewards earnings if you carry a balance from month to month.
SoFi Credit Card Review Highlights
No annual fee
The SoFi Credit Card annual fee is $0. As a result, it is $22.29 per year cheaper than the average credit card offer.
Rewards worth up to 3% cash back on all purchases
The SoFi Mastercard normally rewards cardholders with 2 points per $1 spent on all purchases. Those points are worth 2% cash back no matter how they are redeemed. Plus, you can now get 3 points per $1 spent on trips booked on the SoFi Travel portal, worth 3% back.
High interest rate
The SoFi Credit Card interest rate is 20.24% to 29.99% (V). The exact rate depends on each applicant’s overall creditworthiness. For context, the average credit card offer has an APR of 22.89%.
As a result, you should plan to pay the bill in full monthly if you decide to apply.
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Earn Rewards." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
3.5
User Reviews
3.5
Market Comparison
4.1
fees: 5.0
rewards: 3.4
cost: 4.6
Other Features: 0.0
2.9WalletHub Rating
WalletHub Rating
2.9
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
4.4
User Reviews
2.6
Market Comparison
2.6
fees: 2.8
rewards: 0.0
cost: 2.8
Other Features: 4.5
4.9WalletHub Rating
WalletHub Rating
4.9
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
5.0
User Reviews
3.4
Market Comparison
5.0
fees: 5.0
rewards: 5.0
cost: 5.0
Other Features: 5.0
(51)
(244)
(2,100)
annual fee$0
annual fee$39
annual fee$0
rewards rate 2 points / $1
rewards rateNone
rewards rate 2% Cash Back
bonus offerNone
bonus offerNone
bonus offer $200
Purchase Intro APRNot Offered
Purchase Intro APRNot Offered
Purchase Intro APRNot Offered
transfer intro aprNot Offered
transfer intro aprNot Offered
transfer intro apr0% for 18 months|Transfer Fee:3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer
Can't find what you are looking for? Submit your question about SoFi Unlimited 2% Credit Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this offer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page.
The SoFi Credit Card credit limit is $1,000 or more. Everyone who gets approved for SoFi Credit Card is guaranteed a credit limit of at least $1,000, and particularly creditworthy applicants could get limits a lot higher than that. The higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.
The SoFi Credit Card credit limit that you start with isn't necessarily your credit line forever. You can ask to get a credit limit increase by calling the SoFi customer service number on the back of your card, but it's best not to ask more than once a year.
SoFi requires a minimum credit score of 680 to qualify for a loan. Keep in mind that when deciding whether to approve you, SoFi will consider your entire financial profile, including things like your income, existing debts, and recent credit inquiries.
If you don't know what your current credit score is, you can check it for free on WalletHub. You can also try pre-qualifying for a SoFi personal loan online to gauge your chances of getting approved with your...
You can log in to your SoFi Unlimited 2% Credit Card account by going to the login page on the SoFi website or mobile app and entering your username and password in the appropriate fields. Then, click the “Log In” to access your online account.
How to Register for Online Access on your SoFi Credit Card Account
Register your SoFi Credit Card for online account access. Click “Create an Account” and enter your full name, state of residence, email, and password...
The SoFi Unlimited 2% Credit Card credit score requirement is 700 or better. That means people with good credit or better have a shot at getting approved for the SoFi Credit Card.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the SoFi Credit Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment...
To do a balance transfer with a SoFi Credit Card, existing customers can check for a promotional offer online or through the mail. SoFi Credit Card balance transfers are only available via promotional offers, and only to existing customers, not new applicants. If you're eligible for a SoFi Credit Card balance transfer, follow the offer's instructions and be sure to provide the promotional code listed in your offer when you apply.
You must complete the transfer by the date listed...
The SoFi Unlimited 2% Credit Card does not currently have a sign-up bonus, though it does give ongoing rewards of 2 points / $1 on all purchases. The SoFi Credit Card rewards cardholder with 3 points per $1 spent on trips booked on the SoFi Travel portal, as well as 2 points per $1 spent on all other purchases.
If you're in the market for an initial bonus, you can compare the best credit card sign-up bonuses from other cards, picked by WalletHub's editors. But keep in mind that rewards bonuses are just one of the many things to consider when deciding which credit card you should get.
The only way you can apply for the SoFi Credit Card is online. You cannot apply for this card over the phone. Keep in mind that the SoFi Credit Card requires at least good credit for approval. You can check your credit score for free on WalletHub to see where you stand.
How to Apply for the SoFi Credit Card Online
Visit the SoFi Credit Cardwebpage and click on the “Apply Now” button.
Enter your name, state, email and a password. Then, click...
You can make a SoFi Unlimited 2% Credit Card payment online, by phone, through the SoFi mobile app or by mail. To pay a SoFi Credit Card bill online, log in to your online account and click on “Pay.” Then, choose how much to pay, when to pay it, and where the payment is coming from. SoFi does allow cardholders to set up automatic payments, too.
The SoFi Credit Card minimum payment is $35 or 1% of the statement balance, plus fees, past-due amounts, and interest – whichever is higher. If the statement balance is less than $35, the SoFi Credit Card minimum payment will be equal to the balance. In addition, if you recently missed a payment, SoFi may add a late fee to your minimum payment.
The minimum payment is the smallest amount you're required to pay by the due date to...
Share your insights and review for the SoFi Unlimited 2% Credit Card
5
35%
4
27%
3
14%
2
4%
1
20%
3.5
51 reviews
51 reviews
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wak El @wakavelli29
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1 Star Rating
Very bad card, decreased credit limits even with good credit and only 3% utilization on overall accounts. Started with $6,500, decreased my limit to $1,000. Paid on time, no late payments on any of my accounts, 757 credit score, no negative reports on my credit report. Just terrible business. Oh yeah, and I also own shares of the company. I'm done with them, closing my account, and selling my shares in the company.
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mjits4u @mjits4u
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1 Star Rating
Horrible credit card. I've had the card for about 2 years and I typically pay it off every month. It is one of the lowest credit line credit cards in my wallet. I've never been late. They hold my money when I make a payment for at least 10 days before they release the credit. My Discover card releases the funds in 24 hours, and Capital One releases the funds within seconds of making my payment—two awesome cards! SoFi, on the other hand, just lowered my credit limit. Are you kidding me? SoFi is a joke.
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0
0
shuffle_angus_0i @shuffle_angus_0i
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1 Star Rating
No pre-approval, and you don’t find out your limit until you’re approved. Don’t take the risk with your credit. A low limit card does not outweigh a hard pull, and their limits are terribly low.
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Trent @hunteryfury2249
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1 Star Rating
Verified Customer
Never had a problem until now.
Bank teller at a credit union here. I currently have a SoFi credit card and my payday is always Thursday each week. On 9/8/23 I made a scheduled payment, I was expecting it to hit on 9/9/23 because that is how ACH's are. But no. It didn't even hit account at all. AND I DO (being an employee) do get fee'd if I overdraft. They didn't even try to hit my account because I DO in fact watch my account. And not only that they notified me TODAY saying that I'm overdue. And I asked why? And the lady said that I was NSF? I HAD 170$ left in my account. They straight up lied to my face and told me to contact my bank to find out what happened. Now I am pretty sure I will accrue a late fee because I just made a payment and I am going to be over the grace period before I get charged a late fee. They don't notify you when there is suspected fraud of your account either!!!! AND they don't tell you if the payment didn't go through up front or not. THIS IS RIDICULOUS.
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1
0
Serena @suib
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4 Star Rating
Verified Customer
It works. The website is great. I don’t like the fact that I make substantially less on my accounts than those with work automatic deposit.
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0
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smskinner1994 @smskinner1994
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1 Star Rating
Verified Customer
Won't let me update, out of date personal information running me circles over facial recognition. I won't do it. Why wouldn't they want up to date information on me I have a credit card with them.
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2
0
Melissa @matresem
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4 Star Rating
Verified Customer
No FTF, but lacks the card CLI, even Chase is starting to offer SP CLI and this card isn't offering SP or Hard Pull CLI. Rewards don't wait for a statement, but you do wait a while (you also need to deposit points in a SoFi account- a statement credit (not a fan of statement credits anyway) does not count (likely because the card is issued by The Bank of Missouri- SoFi only recently became an actual bank)- or they cut rewards in half. It's not a big deal, but an annoyance- always afraid of clicking wrong). They do offer auto-redeem now. If you login daily, you can get bonus points, but you don't need the CC for that. I also never got my referral bonus when I signed up. The fraud alert also triggers a lot on Amazon- to the point I've called them and they've given up. It is a decent card, but it shouldn't be your ONLY card. I'm hoping SoFi will start issuing cards and not subcontract this to TBoM. I think it will lead to a better experience if they do. That said, I'm overall pretty happy with the card. I can't comment on th APR (because I'm not sure what it is, I always PIF)
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ajerakat @ajerakat
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1 Star Rating
I was initially excited to get approved for a SoFi card for a CL of $7,500. Several months after having card and spending less than 48% credit utilization I received an email explaining my credit limit was lowered to $2,400 causing my account to fall past due -$1,900!!!. I spoke with SoFi rep and they couldn't due anything regarding my limit? But I was assured that if I could continue making minimum payments and that it would not be reported to credit. I was reported to credit 30 days past due. Can you imagine a card company approving your application, seeing a limit, and then lowering your limit to fall past due. Every rep I spoke agreed with me and yet nothing was ever done.
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Ken P @darkstar
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5 Star Rating
Had Sofi Credit Card for about 3 months now, signed up for one after having a loan with them for 8 months. So far no issues with the card, hoping for a credit limit increase soon as I really enjoy the card.
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Sylvester @eanthonysylvester
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5 Star Rating
I love that this card allows me to redeem my reward’s points as cash, and let’s me apply them to my other accounts such as investments.
* WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: SoFi Unlimited 2% Credit Card
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not the issuer’s responsibility to ensure all posts and/or questions are answered.