Sofi Credit Card Review (2024.4 Update: 2.2% Cashback on Everything)

Sofi Credit Card Review

2024.4 Update: There’s a new feature Reward Boost: if you have Sofi Checking and have Direct Deposit (DD) every month, then your cashback rate is 2.2% on everything.

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  1. Earn 2.2% cash back on all eligible purchases! No cap. You can earn 2% just with this credit card, and earn additional 0.2% if you have Sofi Checking and have Direct Deposit (DD) every month.
  2. Cell phone protection: get up to $800 per claim and $1,000 per year in cell phone protection against covered theft or damage for phones listed on your monthly cell phone bill when you pay it with your eligible credit card. Deductible $50.
  3. No foreign transaction fee.
  4. No annual fee.


  1. Currently there’s no welcome offer.
  2. About the points value: if you redeem points as cash deposited into your SoFi Money or SoFi Invest or a Sofi loan account, then your points will redeem at a rate of 1 cent per point. If you redeem points as a statement credit into your SoFi Credit Card account, then your points will redeem only at a rate of 0.5 cents per point.


This is another 2% cash back no annual fee card, similar to Citi Double Cash (DC) (MasterCard), Fidelity Rewards (Visa), and Synchrony PayPal Cashback (Mastercard). This card is unique among them because it has no FTF, and it has cell phone protection. So if you need these features, this card is a good choice!

If you have Sofi Checking and have Direct Deposit (DD) every month, then 2.2% is the highest cashback rate among the cards with no annual fee no asset requirement.

Historical Offers Chart

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