Image: A seated man smiles while holding his smartphone and his sofi credit card.
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This offer is no longer available on our site: SoFi Credit Card
SoFi Credit Card: Core features
The SoFi Credit Card is uniquely designed to incentivize cardholders to open multiple accounts with the card issuer. These may include a SoFi bank account or investment account — or even student and personal loans.
Who this card is good for
The SoFi Credit Card could be worth considering if you already have an account with SoFi (like a bank account, investment account, personal loan or student loan), and would like to keep your financial accounts under one roof.
If you have a student or personal loan with SoFi, though, you’ll still want to have automatic payments set up from your checking account and only rely on your cash back redemption for extra payments. That way, you can avoid the possibility of not making the minimum payment required on your loan if you don’t earn enough rewards in a month.
Keep in mind, though, that you can use rewards from most cash back credit cards to save, invest or pay down debt — the SoFi Credit Card can just make the process a bit easier. If you’d rather not be tied down to only redeeming cash back with SoFi, there are plenty of alternatives that give you some more flexibility with how you can redeem your rewards, including other no annual fee credit cards.
About the author: Ben Luthi is a personal finance freelance writer and credit cards expert. He holds a bachelor’s degree in business management and finance from Brigham Young University. In addition to Credit Karma, you can find his wo… Read more.
