SoFi Unlimited 2% Card: simple cash back, best inside SoFi
How the rewards work, where to redeem them and what the card costs
The SoFi Unlimited 2% Credit Card is a no-annual-fee World Elite Mastercard® issued by SoFi Bank, N.A. It earns 2 rewards points per dollar on eligible purchases, worth 2% when you redeem them into a SoFi account, and it has no foreign transaction fees.
The card rewards simplicity, but getting the full 2% requires redeeming within SoFi’s own products. Below, we explain how the rewards work, what the card costs and who gets the most out of it.
How the rewards work
You earn 2 points for every dollar you spend on eligible purchases, with no categories to track and no earning cap. When you book through the SoFi Travel Portal, which is operated by Expedia, you earn points equal to 3% of what you spend. To get the 3%, you need to be a registered SoFi user, 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. That includes a statement credit on your SoFi card, a deposit into SoFi Checking or Savings, a SoFi investment account, a payment on a SoFi loan or a SoFi Travel purchase. If you don’t use any other SoFi product, the statement credit is the simplest way to get the full 2% back.
Returned or reversed purchases don’t earn points.
Card protections
As a World Elite Mastercard, the card includes cell phone protection of up to $1,000 a year, with a maximum of $800 per claim and two claims per year, against theft or certain damage. It also includes Mastercard ID Theft Protection™, which you need to register for, and Zero Liability protection against unauthorized charges.
Pros of the SoFi Unlimited 2% Credit Card
- 2% back on eligible purchases, with no categories or cap
- No annual fee and no foreign transaction fees
- 3% back on travel booked through the SoFi Travel Portal
- Cell phone protection and other World Elite Mastercard benefits
Cons of the SoFi Unlimited 2% Credit Card
- Rewards are worth the full 2% only when redeemed into SoFi accounts
- No intro APR on purchases
- Balance transfers are currently limited to people who receive promotional offers
- High APR at the top of the range if you carry a balance
SoFi Unlimited 2% Credit Card rates and fees
- Annual fee: $0
- Purchase APR: 19.99% to 29.99% variable, based on your creditworthiness and tied to the Prime Rate
- Foreign transaction fee: none
- Credit line: at least $500 if you’re approved
- Balance transfers: currently accepted only from recipients of promotional offers
SoFi doesn’t charge interest on purchases if you pay your full balance by the due date, which is 25 days after each billing cycle closes. Interest on cash advances and balance transfers starts on the transaction date. If you pay more than the minimum, SoFi applies the extra amount to the balance with the highest APR first.
In early 2026, SoFi told some existing cardholders that it would start charging them a monthly fee. According to a SoFi representative quoted by NerdWallet, new applicants aren’t charged a monthly fee. Check the terms shown in your offer before accepting.
Terms checked in September 2026. SoFi notes that it may modify or discontinue products and benefits, so confirm the current terms on SoFi’s official website before you apply.
About SoFi
SoFi, short for Social Finance, started in 2011 in student loan refinancing and has grown into a digital financial services company based in San Francisco. It offers checking and savings accounts, investing, personal and student loans, mortgages and credit cards. The card is issued by SoFi Bank, N.A., Member FDIC. FDIC insurance applies to deposit accounts, not to credit cards.
Managing the card in the SoFi app
You manage the card in the SoFi app for iOS and Android or on SoFi’s website. There you can track purchases and rewards, make payments and redeem points into your SoFi accounts or as a statement credit.
Our take on the SoFi Unlimited 2% Credit Card
The SoFi Unlimited 2% Credit Card is a strong fit if you want a simple flat-rate card with no annual fee, and especially if you already use SoFi for banking, investing or loans. The lack of foreign transaction fees also makes it useful abroad, which isn’t true of every 2% card.
If you don’t want to keep rewards inside SoFi, you can still get full value as a statement credit, but you lose the flexibility some other 2% cards offer. And since there’s no intro APR on purchases, it works best if you pay your balance in full every month.
You can check for offers on SoFi’s website before applying. Approval requires meeting SoFi’s underwriting criteria, including verification of enough income to support your ability to pay.
In the next article, we walk through how to apply for the SoFi Unlimited 2% Credit Card.
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