Does the SoFi Credit Card (Unlimited 2%) have an annual fee?

No. Our record lists a $0 annual fee for the SoFi Credit Card (Unlimited 2%).

Is the SoFi Credit Card (Unlimited 2%) worth it in the first year?

Using our illustration ($12,000 of yearly spending), the first year comes out around $240 before credits, including a welcome bonus valued at $0. Year two drops to about $240 before credits.

What credit do I need for the SoFi Credit Card (Unlimited 2%)?

Our record lists "Good to Excellent (invitation-only / pre-qualification required)" credit as the typical target for the SoFi Credit Card (Unlimited 2%). SoFi / First Bank makes the final decision based on its own criteria.

SoFi Credit Card (Unlimited 2%)

SoFi / First Bank

No Annual Fee

Annual Fee

mastercardGood → Excellent (Pre-qual)no-annual-fee6 months ago

Welcome Offer

No Welcome Offer

OpenCard analysis

Is the SoFi Credit Card (Unlimited 2%) right for you?

The SoFi Credit Card (Unlimited 2%) is a no-annual-fee rewards card from SoFi / First Bank. It earns a flat 2x on purchases. With no fee, it only needs to beat the flat rate your current card already pays.

Who it's for

✓ Anyone who wants flat-rate rewards without paying an annual fee
✓ People who want one rate (2x) everywhere without tracking categories

Who should skip it

— Travelers who prefer booking directly rather than through the issuer's travel portal

First-year value estimate

Welcome bonus

Rewards on spending

$240

Annual fee (year 1)

−$0

Year 1, before credits

$240

Year two, without the welcome bonus: about $240 before credits ($240 in rewards minus the $0 fee).

Assumptions

$12,000 a year of purchases at 2x, about $1,000 a month.
Rewards valued at 1¢ per point or 1% cash back (cash-equivalent).
No welcome bonus is listed in our record, so none is counted.
No annual fee in any year.

An illustration, not a promise of value. Change the spending to match yours; rewards are not cash until redeemed. Card data reviewed 2026-04-16.

How it compares

Amex Cash Magnet →

American Express, same $0 annual fee; earns 1.5x on everything.

Capital One VentureOne Rewards →

Capital One, same $0 annual fee; earns 1.25x on everything.

PenFed Gold Visa →

PenFed Credit Union, same $0 annual fee; earns 1x on everything.

Compare side by side →

Frequently asked questions

Does the SoFi Credit Card (Unlimited 2%) have an annual fee?: No. Our record lists a $0 annual fee for the SoFi Credit Card (Unlimited 2%).
What does the SoFi Credit Card (Unlimited 2%) earn?: A flat 2x on purchases.
Is the SoFi Credit Card (Unlimited 2%) worth it in the first year?: Using our illustration ($12,000 of yearly spending), the first year comes out around $240 before credits, including a welcome bonus valued at $0. Year two drops to about $240 before credits.
What credit do I need for the SoFi Credit Card (Unlimited 2%)?: Our record lists "Good to Excellent (invitation-only / pre-qualification required)" credit as the typical target for the SoFi Credit Card (Unlimited 2%). SoFi / First Bank makes the final decision based on its own criteria.

Earning Rates

2×All eligible purchasesUnlimited 2% cash back (2 points per $1). Points worth 1 cent each when redeemed into SoFi checking, savings, investment, or toward qualifying loans/card.

3×Travel booked through SoFi Travel3% back on travel booked through SoFi Travel

Other Benefits

SoFi ecosystem integration

Redeem rewards into SoFi checking, savings, investment accounts, or toward SoFi personal/student loans, or SoFi credit card balance

SoFi Travel

3% back on travel booked through SoFi Travel portal

Insurance

Rental InsuranceAuto Rental Collision Damage Waiver

Purchase Protection

Extended Warranty

Sources

Last Updated: Apr 16, 2026