What SoFi Credit Cards Are

SoFi credit cards are issued by Social Finance, Inc., a fintech bank that also offers personal loans, student loan refinancing, and investment accounts. SoFi offers two main credit card products: the SoFi Unlimited 2% Cash Back Card and the SoFi Credit Card (a no-annual-fee card with a tiered cash back structure). Both cards are issued through a partnership with Comenity Bank.

Unlike traditional bank credit cards, SoFi integrates its card offerings into a broader financial platform. If you already use SoFi for banking or loans, the card connects to your existing account. If you do not, you will need to open a SoFi account to hold the card. The cards themselves work like any Visa card at merchants nationwide, but the rewards and account management happen through the SoFi app.

SoFi does not charge annual fees on either card. Both cards report to the three major credit bureaus, which means on-time payments build your credit history. The cards are issued as Visa cards, so they work wherever Visa is accepted.

Key Takeaways

  • SoFi offers two credit cards: the Unlimited 2% Cash Back Card and the standard SoFi Credit Card, both with no annual fee.
  • You must open a SoFi account to hold a SoFi credit card, even if you do not use SoFi for banking.
  • The Unlimited card gives 2% cash back on all purchases; the standard card gives 1% to 3% depending on category.
  • SoFi credit cards report to credit bureaus and have no foreign transaction fees, which is useful for travel.
  • Approval decisions are made by Comenity Bank, not SoFi, and the card issuer will perform a hard credit inquiry.

The Two SoFi Credit Card Options

The SoFi Unlimited 2% Cash Back Card returns 2% cash back on every purchase, with no caps or categories to track. Cash back is deposited into your SoFi account as a statement credit or can be transferred to a linked bank account. There is no annual fee, no foreign transaction fees, and no minimum spending to earn rewards.

The SoFi Credit Card (sometimes called the standard card) offers tiered rewards: 3% cash back on dining and entertainment, 2% on groceries and gas, and 1% on all other purchases. This card also has no annual fee and no foreign transaction fees. The cash back structure requires you to track which category each purchase falls into, but the higher rates on common spending categories may yield more rewards than the flat 2% card if you spend heavily on dining or groceries.

Both cards come with purchase protection, fraud liability protection (limited to $0 under federal law), and access to SoFi's customer service through the app or phone. Neither card offers travel insurance, lounge access, or concierge services. The choice between them depends on whether you prefer simplicity (flat 2%) or the potential for higher rewards if your spending aligns with the bonus categories.

How to Open a SoFi Account and Request a Card

To get a SoFi credit card, you must first open a SoFi account. Visit sofi.com or read the SoFi mobile app. You will be asked to provide your name, email address, date of birth, and Social Security number. SoFi will perform a soft credit inquiry at this stage, which does not affect your credit score.

Once your account is open, you can request a credit card from within the app or website. At this point, SoFi (through Comenity Bank) will perform a hard credit inquiry, which does show on your credit report. You will need to confirm your income, employment status, and current address. The hard inquiry typically lowers your credit score by a few points temporarily.

SoFi does not publish specific credit score requirements, but most cardholders report approval with scores in the mid-600s or higher. If you are denied, you can contact SoFi customer service to ask why and whether you can reapply after improving your credit profile. The approval decision is made by Comenity Bank, not SoFi, so SoFi customer service cannot override a denial.

What Happens After Approval

Once approved, your physical card will ship to the address on file, typically within 7 to 10 business days. You can request a digital card number when ready in the app to start making purchases before the physical card arrives. The digital card works with Apple Pay, Google Pay, and Samsung Pay for contactless payments.

Your credit limit will be set at approval and shown in your SoFi account. You can request a credit limit increase after 6 months of account history. SoFi may perform a soft inquiry for limit increases, which does not affect your credit score.

Statements are generated monthly and viewable in the SoFi app. You can set up automatic payments from a linked bank account, or pay manually through the app. SoFi does not mail paper statements by default, though you can request them. Your payment due date will be shown on your statement, and late payments are reported to credit bureaus after 30 days past due.

Rewards, Fees, and Interest Rates

Cash back is earned on all purchases except balance transfers and cash advances. The rewards post to your account monthly and can be used as a statement credit, transferred to a linked bank account, or left to accumulate. There is no minimum cash back amount to redeem, and rewards do not expire.

SoFi charges no annual fee, no foreign transaction fees, no balance transfer fees, and no cash advance fees. However, if you carry a balance, you will pay interest at the card's variable APR, which is set at approval and can change over time. SoFi does not publish a standard APR range, but rates typically range from 15% to 25% depending on creditworthiness and market conditions. You can check your specific APR in the app after approval.

Late fees are charged if your payment is more than 60 days past due. The fee amount is not published by SoFi but is typically $25 to $35 depending on your account history. Paying on time avoids this fee entirely and protects your credit score.

How SoFi Credit Cards Compare to Other Options

The SoFi Unlimited 2% card competes directly with flat-rate cards like the Citi Double Cash Card and the Capital One Quicksilver. All three offer 2% cash back with no annual fee. The main difference is that SoFi requires you to hold a SoFi account, while Citi and Capital One do not. If you already use SoFi for banking or loans, the integration may be convenient; if not, the account requirement is an extra step.

The SoFi standard card (with 3% dining, 2% groceries and gas, 1% other) is similar to the Chase Freedom Unlimited or the Discover it Cash Back, which also offer category bonuses. SoFi's advantage is no annual fee and no foreign transaction fees. The disadvantage is that you must manage the categories and that SoFi's bonus categories are narrower than some competitors.

If you are already a SoFi customer for banking or loans, the credit card integrates seamlessly into your existing account and dashboard. If you are not, opening an account just for the card may not be worth the friction unless the rewards structure matches your spending patterns closely.

Frequently Asked Questions

Do I need a SoFi bank account to get a SoFi credit card?

Yes. You must open a SoFi account to hold a credit card, even if you do not use SoFi for checking, savings, or other products. The account is free and takes about 5 minutes to set up online. Once approved for the card, your credit line and rewards are managed through that same account.

What credit score do I need to be approved?

SoFi does not publish a minimum credit score requirement. Most approvals happen with scores in the mid-600s or higher, but approval depends on your full credit profile, income, and debt-to-income ratio. The only way to know if you will be approved is to request a card; the hard inquiry will show up on your report whether you are approved or denied.

Can I use my SoFi credit card internationally?

Yes. SoFi credit cards have no foreign transaction fees, so you can use them abroad without extra charges. The card is a Visa, so it works at most merchants and ATMs worldwide. You will be charged the standard Visa exchange rate on foreign purchases, which is typically competitive.

How long does it take to get approved and receive my card?

Approval decisions are usually made within minutes to a few hours after you request the card. The physical card ships within 7 to 10 business days. You can use a digital card number in the app when ready after approval, so you do not have to wait for the physical card to start earning rewards.

What happens if I carry a balance on my SoFi credit card?

You will be charged interest at your card's variable APR, which is set at approval and shown in your account. SoFi does not offer an introductory 0% APR period, so interest accrues from the first day of your billing cycle if you carry a balance. Paying your full statement balance by the due date avoids interest charges entirely.