Sofi Credit Cards: Unlimited Cashback and Rewards

Sofi credit cards are known for offering unlimited cashback and rewards, but what does that really mean? Unlimited cashback means you can earn cashback on every purchase, without any caps or limits.

To qualify for unlimited cashback, you'll need to meet certain requirements, such as making a minimum number of purchases within a certain timeframe. This ensures that the card is being used responsibly and for the intended purpose.

One of the benefits of unlimited cashback is that it can be redeemed in various ways, including statement credits, direct deposits, or even gift cards. This flexibility makes it easier to use your rewards in a way that suits your needs.

The SoFi Unlimited 2% Credit Card is a great option for those who want to earn cashback on their purchases. It offers unlimited 2% cashback on just about all purchases.

One of the best things about this credit card is its interconnectedness with other SoFi products. If you already have a checking and savings or investment account with SoFi, using their credit card could be a great way to maximize your rewards.

The SoFi Unlimited 2% Credit Card has no annual fee, which is a big plus for many people. No foreign transaction fees are also a benefit, making it a great choice for international travelers.

You can use your credit card rewards to pay down SoFi student loans, making it a great option for those with student debt. This is just one example of how the products are interconnected.

The SoFi Bank credit card also offers a $5 monthly Lyft credit, which is a nice perk for frequent Lyft users.

The SoFi credit card offers a range of benefits and features that make it an attractive option for many users.

The card includes Mastercard World Elite benefits, which provide a range of perks such as ID theft protection and global emergency services.

One of the standout benefits of the SoFi credit card is its cell phone protection, which offers up to $1,000 per year in coverage, with a $50 deductible per claim.

You can also earn 2% cash-back on all purchases, with no foreign transaction fees.

The card also offers a range of other benefits, including Mastercard ID Theft Protection and Mastercard Zero Liability Protection.

Here are some of the key benefits of the SoFi credit card:

The SoFi credit card is also a great option for existing SoFi customers, who can easily redeem their cashback rewards within other SoFi products.

Overall, the SoFi credit card offers a range of benefits and features that make it a solid choice for anyone looking for a cash-back rewards card with no annual fee.

The SoFi Credit Card Rewards program is straightforward and easy to understand. You 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.

One of the best benefits of the SoFi Credit Card is that earning rewards is easy. You can earn 2% cashback on essentially all purchases, without rewards limits or caps.

You won't earn points from making interest payments on your card or from buying prepaid cards. This is an important exception to keep in mind.

With a flat 2% cash-back on all purchases, you can use the SoFi card for any purchase and pay it off in full each month to take advantage of these 2% cash-back rewards. This makes it a great option for everyday spending.

You can also earn 3 points per $1 spent when you use your SoFi Credit Card to book trips through the new SoFi Travel powered by Expedia, for a total of 3% cash-back rewards.

The SoFi credit cards have their perks, but let's take a closer look at the pros and cons.

You can earn a flat rate of 2% cash back on every purchase with some SoFi credit cards, including the SoFi Unlimited 2% Credit Card and the SoFi credit card that's mentioned in Example 3.

Some SoFi credit cards have no annual fee, making them a great option for those who want to avoid paying extra fees every year. The SoFi Unlimited 2% Credit Card, for instance, has no annual fee.

You can also earn 3% cash back on SoFi Travel purchases with some SoFi credit cards, like the SoFi Unlimited 2% Credit Card and the one mentioned in Example 3.

No foreign transaction fees means you can use your SoFi credit card abroad without incurring extra charges. This is a great feature for frequent travelers.

Here are some of the pros of SoFi credit cards:

To get approved for a SoFi Credit Card, you'll need to meet some basic requirements. The minimum age to apply is 18 years old.

You'll also need to have a valid Social Security number or International Tax Identification Number. This is a standard requirement for most credit cards.

Having enough income to make the monthly minimum payment is also crucial. SoFi won't approve you if you can't afford the payments.

Here are the key requirements for approval:

A good credit score of at least 700 is also necessary. This will give you a shot at getting approved for the SoFi Credit Card.

The SoFi Credit Card balance transfer process is only available via promotional offers, which existing customers can check for online or through the mail.

To be eligible, you must have a SoFi Credit Card and receive a promotional offer. The balance transfer APR ranges from 19.24% to 29.74% (Variable), and there's a 5% balance transfer fee with a minimum of $10.

If you're eligible, follow the offer's instructions and provide the promotional code listed in your offer when you apply. You must complete the transfer by the date listed in the offer.

You can also get a SoFi Credit Card cash advance by calling customer service at (844) 945-7634 and requesting a PIN. If you don't already have one, they'll provide it to you.

To withdraw cash, insert your credit card at an ATM, enter your PIN, and select the cash advance option on the screen. Then, enter the amount you'd like to withdraw and withdraw the cash.

To do a balance transfer with a SoFi Credit Card, you'll need to check for a promotional offer online or through the mail.

Existing customers can check for a promotional offer, but new applicants are not eligible for balance transfers.

The promotional offer will list a date by which you must complete the transfer, so be sure to check the deadline.

SoFi Credit Card balance transfers are only available through promotional offers, and you'll need to provide a promotional code when you apply.

The balance transfer fee for a SoFi Credit Card is 5% of the transferred amount, with a minimum fee of $10.

The APR for a SoFi Credit Card balance transfer ranges from 19.24% to 29.74% variable.

To get a SoFi Credit Card cash advance, you'll need to follow a few simple steps. Call SoFi customer service at (844) 945-7634 and request a PIN, if you don't already have one.

If you're already a SoFi Credit Card holder, you can use your existing PIN. Insert the credit card at an ATM and enter the PIN.

Select the cash advance option on the ATM screen. This will give you the option to withdraw cash from your credit card.

Enter the amount you'd like to withdraw. Make sure to only take out what you need, as cash advances can come with fees.

Withdraw the cash and remove the credit card from the ATM. That's it!

The SoFi Credit Card has some great features, but it's not the only option out there. In fact, there are several alternatives that might suit your needs better.

One of the main differences between the SoFi Credit Card and other options is the rewards rate. The SoFi Unlimited 2% Credit Card offers 2% cash back on all purchases, but the Citi Double Cash Card offers 2% cash back as well, and it also has a limited-time offer of 5% total cashback on hotel and car rentals booked on the Citi Travel℠ portal through 12/31/24.

The Citi Double Cash Card also has a welcome offer of $200 cash back after you spend $1,500 in the first 6 months, which is a great incentive for new cardholders. On the other hand, the SoFi Unlimited 2% Credit Card has no welcome offer.

Here's a comparison of the SoFi Unlimited 2% Credit Card and some of its competitors:

Ultimately, the best credit card for you will depend on your individual needs and preferences. Be sure to do your research and compare features before making a decision.

SoFi credit cards have a strong online presence, with many customers sharing their experiences and opinions about the cards.

There are currently 55 reviews for the SoFi Unlimited 2% Credit Card.

Many customers have taken the time to share their insights and reviews of the SoFi Unlimited 2% Credit Card.

If you're considering applying for this card, it's worth taking a look at what others have to say about their experiences.

The SoFi Credit Card credit limit is a minimum of $1,000, and can be much higher for particularly creditworthy applicants.

With a credit limit this high, you might be wondering if you can get a credit limit increase. The answer is yes, but be mindful of asking only once a year to avoid any potential issues.

You can request a credit limit increase by calling the SoFi customer service number on the back of your card.

The annual fee is a significant charge to consider when choosing a credit card. This fee can range from $25 to $95 per year, depending on the type of card.

Some cards, like the one mentioned in the article section, have an annual fee of $95. This fee can be waived for the first year, but it will still apply after that.

For those who want to avoid annual fees altogether, there are cards with no annual fee, such as the one that charges a higher interest rate instead.

The SoFi Credit Card credit limit is at least $1,000, guaranteed for everyone who gets approved.

Higher credit limits are possible for particularly creditworthy applicants, with a direct correlation between credit score and income and the starting credit limit.

You can ask for a credit limit increase by calling the SoFi customer service number on the back of your card, but it's best to do so only once a year.

A higher starting credit limit is likely to be assigned to applicants with higher credit scores and incomes.

The SoFi Unlimited 2% Credit Card is a great option if you're looking for a cashback credit card with no annual fee and no foreign transaction fees.

You'll earn a flat rate of 2% on every purchase, which is a great baseline to work with.

Existing SoFi customers will find this card particularly useful, as they can easily redeem the cashback within other SoFi products, such as buying fractional shares within a SoFi Invest account.

If you're an existing SoFi customer, you'll also get access to World Elite Mastercard benefits.

This card is a simple cash back card that pairs well with other SoFi products, making it a great option for those already banking with SoFi.