Effective Date: November 1, 2023

How SoFi Credit Card Rewards Works

The SoFi Unlimited 2% Credit Card (the "SoFi Credit Card") rewards you with points ("SoFi Rewards Points") based on your actual spending habits and experiences. Rewards Points earned through using your SoFi Credit Card are automatically added to any other Rewards Points you earn under the SoFi Member Rewards Program(the "SoFi Rewards Program").


Points Earned

  1. You will earn 2 SoFi Rewards Point for each dollar ($1.00) you spend on your SoFi Credit Card.
  2. We will deduct any previously awarded Rewards Points in the event of a product return, or a credit received from a merchant related to the transaction for which the Rewards Points were awarded.
  3. You will not earn SoFi Reward Points for purchases posted to your SoFi Credit Card Account during a Billing Cycle if the Minimum Payment shown on the Account Statement for that Billing Cycle is not paid by the related Payment Date.
  4. You will only receive SoFi Rewards Points for eligible purchases made for personal, family, or household use. Charges or transactions not eligible for SoFi Rewards Points 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. SoFi reserves the right to exclude quasi-cash transactions with certain categories of merchants from earning SoFi Rewards Points.

Redeeming SoFi Rewards Points

You can redeem rewards points through the Redeem Points page. No points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points into your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Credit Card account, or SoFi Personal, Private Student, or Student Loan Refinance, your rewards points will redeem at a rate of 1 cent per every point. You cannot redeem rewards points if your SoFi Credit Card Account is canceled or past due. Please note that the terms of any promotional offer listed on the Redeem Points page may contain separate eligibility requirements or conditions to receive that promotional offer. To the extent the terms of the SoFi Rewards Program conflict with the terms applicable to any promotional offer, the SoFi Rewards Program terms shall govern. If the conflict relates to how points are redeemed for a promotional offer, the SoFi Rewards Program terms shall govern issues related to how rewards points are earned and the terms of the promotional offer will govern any conflict related to how rewards points are redeemed for a promotional offer.


Please Note: Although SoFi Rewards Points are redeemable as cash to be applied as described above, they are not cash and cannot be transferred to a third party. Your Rewards Points also can’t be transferred by operation of law, such as by inheritance, in bankruptcy or in connection with a divorce.


When You Will Forfeit SoFi Rewards Points

  • You will forfeit your entire SoFi Rewards Points balance if your SoFi Card is cancelled for any reason.
  • If we determine in our sole discretion that you have violated the terms of the SoFi Rewards Program, we may void or cancel some or all of your accrued SoFi Rewards Points.

The SoFi Rewards Point Summary

The SoFi Rewards Points balance shown in your SoFi Credit Card Account is for informational purposes only. It may not reflect the actual SoFi Rewards Points that you have earned. For example, posting of a credit for the return of an eligible purchase previously made using your SoFi Credit Card can lower the SoFi Rewards Points balance shown. Similarly, posting of pending purchases made using your SoFi Credit Card can increase the SoFi Rewards Points balance shown.


Additional Terms

Your participation in the SoFi Rewards Program may result in the receipt of taxable income from SoFi and we may be required to send you, and file with the IRS, a Form 1099. You are responsible for any tax liability, including disclosure requirements, related to your participation in the SoFi Rewards Program. We are not responsible for any dispute you may have in connection with an authorized user or joint account holder related to the SoFi Rewards Program.


Changes to the SoFi Rewards Program

We will from time to time adjust the SoFi Rewards Program features based on your feedback and engagement so that it becomes as useful to you as the SoFi Credit Card is. We may at any time, and in our sole discretion, change any terms or features of the SoFi Rewards program, including, the number of Rewards Points awarded, point redemption values, etc. We will notify you about changes to the SoFi Rewards Program and new features through the SoFi Mobile App. Each such modification will be effective upon the earlier of posting the change to the latest version of the SoFi mobile App or, if required, upon notice to you. You are responsible for downloading the latest updates to the SoFi mobile app as they become available in order to ensure all features and any fixes are current. Your continued participation in the SoFi Rewards Program following any such changes constitutes your acceptance of such modifications and your agreement to be bound by the revised Program Terms.


1 Please note SoFi Student Loan Refinance redemption is currently unavailable in New York. We are working to resolve this, and will enable the functionality for residents when available.