SoFi Credit Card
SoFi is offering a $200 sign up bonus for SoFi Credit Card. To be eligible, you only have to $1,500 in purchases within 3 months of opening the account. SoFi Credit Card is a Mastercard World Elite card and comes with the extra benefits as well.
Note: It is currently offering additional $100 bonus for opening SoFi Checking or Savings account.
SoFi Credit Card offers unlimited 2% cash back on all eligible purchases and there is no limit to the amount of cash back you can earn. Cash back is earned as rewards points and you earn 2 rewards points for every dollar spent on eligible purchases.
SoFi Credit Card Bonus Summary
Bonus – $200
Required Spend – $1,500 within 3 months.
Offer Expiry – No Information
Annual Fee – $0 (None)
- DoorDash – 3 months of complimentary membership on DoorPash
- Shoprunner – Complimentary membership for Shoprunner, a program that offers free 2-day shipping and free return shipping at 100+ stores
- World Elite Concierge – A complimentary 24/7 concierge service that acts as a relentless personal assistant. Reserve that perfect table, locate hard-to-find items and more.
- No Foreign Transaction Fees
- Cell Phone Protection – Complimentary cell phone insurance coverage up to $1,000.
Reward points can be redeem as:
- 1 cent per reward point when redeemed to SoFi Money account
- 1 cent per reward point when redeemed to SoFi Invest account (equity and crypto)
- 1 cent per reward point when redeemed to SoFi Loan account (personal and student)
- 0.5 cent per reward point when redeemed for statement credit for SoFi Credit Card
The Fine Print
In order to receive the offer, you will need to (1) open a new SoFi Credit Card account after 03/30/2022; (2) make at least $1,500 in purchases with your SoFi Credit Card within 90 days of being approved for the credit card. You will receive the 20,000 points within 45 days of making your first $1,500 in purchases. 20,000 points are worth $200 when redeemed into SoFi Money or SoFi Invest or to pay down a SoFi Personal Loan or Student Loan Refinance. 20,000 points are worth $100 when redeemed as statement credit. This offer does not change your responsibility to make the minimum SoFi Credit Card monthly payment due. Your SoFi Credit Card account must be in good standing in order to receive these offers. Charges or transactions not eligible for this offer include: fees or interest charges, balance transfers or cash advances, purchase of traveler’s checks or other cash equivalents, and purchase or reloading of prepaid cards. Limit one offer per person. You will need to apply via this webpage to be eligible to receive the offer SoFi reserves the right to modify or discontinue this offer at any time without notice.
SoFi Credit Card is a decent cash back credit card. It offers 2% flat cash back only if you redeem it to other SoFi accounts, else it is a flat 1% cash back credit card. It makes sense to get the card if you already are doing business with SoFi which includes SoFi Money Account, SoFi Invest Account, or SoFi Loans. Else, there are better cash back credit cards out in the market. Previously, it offered no or only $100 sign up bonus. But this partner offer of $200 sign up bonus is on par with what other credit cards it competes with offers.
$300 SoFi Checking/Savings Bonus and 1.5% APR
Currently, SoFi is offering a 1.5% APR on its SoFi Checking/Savings Account and up to $300 bonus for getting qualifying direct deposits. Check out our article on SoFi Checking Account Bonus.