New SoFi Smart Card
SoFi Technologies today announced the SoFi Smart Card. The new charge card offers attractive rewards, a way to build credit history, and high interest on savings balances. However, it is exclusively available to eligible new SoFi Plus members starting today. The SoFi Plus membership now comes with a $10 monthly fee.
The Smart Card offers:
- 5% unlimited cash back rewards at grocery stores. With 5% cash back rewards on grocery store and grocery store delivery purchases using the SoFi Smart Card, members could save over $600 annually based on typical monthly grocery spending. 4 The unique offering of high rewards on critical products, such as food, aligns the account’s benefits with must-have essentials and avoids incentivizing people to overspend on nonessential goods or services to earn reward points.
- Up to 4.30% APY on SoFi Savings balances for up to six months.
- Spending control with a dynamic credit limit based on a member’s Checking and Savings account balances.
- Opportunities to grow credit scores responsibly with on-time payments and no hard credit pull to apply.
- $0 fraud liability, issued via Mastercard to provide the protections of a credit card.
- Fee free access to 55,000+ ATMs worldwide.
- Ways to easily send and receive money through person-to-person payments, Zelle, bill pay, worldwide money transfers, and mobile check deposit.
- Access to complimentary unlimited financial planning and additional benefits with a SoFi Plus membership.
The Smart Card is exclusively available to new members who join SoFi Plus, SoFi’s premium membership subscription. The card will leverage Mastercard One Credential to allow for multiple payment options.
This is a different product from the old SoFi credit card that earns 2-2.2% on all purchases, or the more recent SoFi Everyday Cash Rewards and SoFi Essential credit cards.
HT: DoC
