SoFi Credit Card (Unlimited 2%) Review
Overview
The SoFi Credit Card is a clean flat 2% cash-back card with no annual fee, and unlike a lot of the best 2% cards, anyone can apply, because SoFi is a fintech rather than a members-only bank. That accessibility is a real plus.
The one wrinkle is that you earn the full 2% when you redeem your rewards into a SoFi savings or investment account or toward a SoFi loan; redeem another way and you get less. So it rewards you for being in the SoFi ecosystem, which is fine if you already are.
Think twice if: you want a big welcome bonus or will not redeem into a SoFi account, since the card has no standing bonus and the top rate leans on SoFi redemption.
Our 3.5 out of 5 rating
Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.
Rewards: how it earns
You earn an unlimited flat 2% on everything and 3% on travel booked through SoFi, with no annual fee. Two percent on all spending is a strong, simple rate, though you need to redeem into a SoFi account to lock in the full value. If you bank or invest with SoFi, that is no obstacle.
| Category | Rate | Notes |
|---|---|---|
| Dining and restaurants | 2x | Base rate |
| Groceries | 2x | Base rate |
| Gas | 2x | Base rate |
| Travel | 2x | Base rate |
| Streaming | 2x | Base rate |
| Everything else | 2x | Everything else |
The fine print on rates: You earn a flat 2% cash back when you redeem rewards into an eligible SoFi savings or investment account or toward a SoFi loan; redeeming other ways earns less. Open to anyone (SoFi is a fintech, no membership gate).
Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.
Pros and cons
- No annual fee
- Unlimited flat 2% on everything
- Open to anyone, no membership required
- 3% on SoFi travel
- Full 2% requires redeeming into a SoFi account or loan
- No standing welcome bonus
- Cash back only, no transfer upside
The welcome bonus
There is no standing welcome bonus, just occasional targeted offers. That is a downside compared to most no-fee cards that hand you a few hundred dollars up front.
Is the annual fee worth it?
There is no annual fee, so there is nothing to justify. Flat 2% for free, funneled into your SoFi accounts, is a good deal for a SoFi user; for others, a 2% card with a welcome bonus may be more appealing.
Benefits and protections
Beyond the rewards, the perks and protections worth knowing about include:
- APR reduction after 12 consecutive on-time payments
- Best value if you already use SoFi to save, invest, or borrow
Statement credits
This card does not come with recurring statement credits. Its value is in the rewards rate and welcome offer.
Who should get it, and who should skip it
If you already use SoFi to save, invest, or borrow, this is an excellent free card, a simple 2% on everything that flows right into your accounts. And unlike credit-union 2% cards, anyone can get it.
If you are not in the SoFi ecosystem and want an upfront bonus, a different flat 2% card may suit you better. But as an open-to-all 2% card, it is a solid pick.
Frequently asked questions
Best-card guides featuring this card
Offer details verified against issuer sources as of July 2026. Editorial opinions are our own. Cardocrat values all points at a flat 1 cent and never inflates redemptions.
