SoFi Everyday Cash Rewards: cash back built for food spending
Dining and grocery rewards, costs and how it compares
The SoFi Everyday Cash Rewards Credit Card is a no-annual-fee World Mastercard® issued by SoFi Bank, N.A. It earns 3% cash back rewards on dining, 2% on groceries and 1% on everything else, with rewards worth the most when you redeem them into a SoFi account.
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It’s a straightforward option for people who spend a good share of their budget on food. Below, we explain how the rewards work, what the card costs and how it compares with SoFi’s flat-rate card.
Card overview
| Feature | Details |
|---|---|
| Annual fee | $0 |
| Rewards | 3% on dining, 2% on groceries, 1% on other eligible purchases |
| Purchase APR | 19.99% to 32.99% variable, based on creditworthiness |
| Credit line | At least $500 if approved |
| Credit check | Soft pull when you apply; hard pull only if approved |
| Redemption | 1 cent per point into SoFi accounts, including a statement credit on the card |
Terms checked in September 2026 from SoFi’s Everyday Cash Rewards terms and conditions. SoFi may change or discontinue products and benefits, so confirm the current terms before you apply.
How the rewards work
You earn 3% cash back rewards on eligible dining purchases, 2% on eligible grocery purchases and 1% on all other eligible purchases. Travel booked through the SoFi Travel Portal, which is operated by Expedia, earns points equal to 3% of what you spend, as long as you book through the portal link on SoFi’s website or app and pay with your SoFi card.
Points are worth 1 cent each when you redeem them toward an active SoFi account, such as a statement credit on the card, SoFi Checking or Savings, a SoFi investment account or a SoFi loan payment. If you don’t use other SoFi products, the statement credit is the simplest way to get full value. Returned or reversed purchases don’t earn points, and bonus rates depend on how each merchant is classified.
Pros and cons of the SoFi Everyday Cash Rewards card
Pros
- 3% back on dining and 2% on groceries, with no annual fee
- You can check your offer with a soft credit pull; a hard pull happens only if you’re approved
- Rewards can go straight into SoFi savings, investing or loan payments
- No returned payment fee, and you can add authorized users
Cons
- No welcome bonus or intro APR
- High APR at the top of the range, up to 32.99%
- Full value requires redeeming into a SoFi account
- Balance transfers are currently limited to people who receive promotional offers
SoFi Everyday Cash Rewards rates and fees
- Annual fee: none
- Purchase APR: 19.99% to 32.99% variable
- Balance transfer APR: 19.99% to 32.99% variable; currently for promotional offer recipients only
- Cash advance APR: 30.49% variable
- Balance transfer fee: $10 or 5%, whichever is greater
- Cash advance fee: 5%
- Late payment fee: up to $41
- Returned payment fee: none
- Minimum interest charge: $1
The card’s published terms don’t list a foreign transaction fee. SoFi doesn’t charge interest on purchases if you pay your full balance by the due date, 25 days after each billing cycle closes.
How it compares with the SoFi Unlimited 2% Card
| Card | Rewards | Annual fee |
|---|---|---|
| SoFi Everyday Cash Rewards | 3% dining, 2% groceries, 1% other | $0 |
| SoFi Unlimited 2% | 2% on all eligible purchases | $0 |
The Everyday Cash Rewards card pays more than the Unlimited 2% only if a large share of your spending goes to dining. On groceries both pay 2%, and on everything else the Unlimited 2% pays double. If your spending is spread across many categories, the flat-rate card will usually earn more.
What you need to get approved
You must be at least 18, or of legal age in your state, and live in the United States. SoFi also verifies that your income is enough to support your ability to pay, and sets your credit line based on your income, debts and credit history. If you’re approved, your credit line will be at least $500.
SoFi describes the factors it considers for excellent credit, such as no loan defaults in the past 7 years, more than 5 years of on-time payments and no payments more than 30 days late in the last year. These are guidelines, not firm approval criteria.
Frequently asked questions
See a full review of the SoFi Everyday Cash Rewards
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