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The Sofi card is a new card from Sofi bank. I don't see any major value to the card except for the fact that it's another 2% cashback credit card. The benefits are mostly the standard MasterCard benefits. One thing unique about the card is that it's the only card earning 2% cashback with no annual fee and also no foreign transaction fees. So this is the perfect card for someone studying aboard and looking for a good 2% cash back - no annual fee card.
- Bank: The Sofi card is issued by The Bancorp Bank
- Credit bureau: Bancorp Bank will usually pull your Experian credit report
- 2% cashback on all purchases (when deposited into your Sofi account, invested, or used to pay back a Sofi loan).
No foreign transaction fee.
Get $5 towards Lyft rides after completing your first 3 rides within each month.
- $5 off 2 DoorDash orders per month for DashPass members
Get reimbursed for up to $800 per claim (with a $50 deductible) if your cell phone breaks or gets stolen. To activate coverage, you need to pay your monthly cell phone bill with your SoFi credit card. Max $1,000 or 2 claims per year.