Effective Date: June 17, 2024

How SoFi Unlimited 2% Credit Card Rewards Work

The SoFi Unlimited 2% Credit Card (the "SoFi Credit Card") rewards you with points ("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").

When you elect to redeem Rewards Points toward active SoFi accounts, including but not limited to your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Credit Card account, SoFi Personal Loan, Private Student Loan, Student Loan Refinance, or toward SoFi Travel purchases, your Rewards Points will redeem at a rate of 1 cent per every point.


Points Earned

  1. You will earn 2 SoFi Rewards Point for each dollar ($1.00) you spend on your SoFi Credit Card.
  2. You will earn 3% cash back Rewards Points for SoFi Travel purchases.
  3. 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.
  4. You will not earn 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.
  5. You will only receive Rewards Points for eligible purchases made for personal, family, or household use. Charges or transactions not eligible for 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 Rewards Points.

Redeeming Rewards Points

You can redeem Rewards Points by selecting "Redeem" on the "Membership & Rewards" page. When you elect to redeem Rewards Points toward active SoFi accounts, including but not limited to your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Credit Card account, SoFi Personal Loan, Private Student Loan, Student Loan Refinance, or toward SoFi Travel purchases, 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 past due or is under investigation for fraud activity, as determined solely by SoFi. SoFi Bank reserves the right to revoke your Rewards Points if your SoFi Credit Card Account is three months or more past due. Please note that the terms of any promotional offer listed in the “Ways to earn” section of the "Membership & Rewards" page may contain separate eligibility requirements or conditions to receive that promotional offer. To the extent the terms of the SoFi Member Rewards Program conflict with the terms applicable to any promotional offer, the SoFi Member Rewards Program terms shall generally govern. However, if the conflict relates to how Rewards Points are redeemed for a promotional offer, the terms of the promotional offer will govern.


Please Note: Rewards Points 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 Rewards Points balance 90 days after your Credit Card is closed.
  • If we determine in our sole discretion that you have violated the terms of the SoFi Member Rewards Program, we may void or cancel some or all of your accrued Rewards Points.

The SoFi Rewards Point Summary

The Rewards Points balance shown in your SoFi Credit Card Account is for informational purposes only. It may not reflect the actual 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 Rewards Points balance shown. Similarly, posting of pending purchases made using your SoFi Credit Card can increase the Rewards Points balance shown.


Additional Terms

Your participation in the SoFi Member 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 Member 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 Member Rewards Program.


Changes to the SoFi Member Rewards Program

SoFi may modify or update the SoFi Member Rewards Program terms at any time, and each such modification will be effective upon either posting on the SoFi website (located at www.sofi.com) or notice to you. Your continued participation in the SoFi Member Rewards Program following any such modifications constitutes your acceptance of such modifications and your agreement to be bound by the SoFi Member Rewards Program terms. If you do not agree to any modification of the SoFi Member Rewards Program terms, as the case may be, your sole remedy is to discontinue your participation in the SoFi Member Rewards Program. It is important that you review the SoFi Member Rewards Program terms regularly. SoFi in its sole discretion may terminate the SoFi Member Rewards Program, or prohibit or limit your ability to use, earn or redeem points, in whole or in part, at any time with or without notice to you. The SoFi Member Rewards Program described herein shall replace all earlier versions of the SoFi Member Rewards Program.


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.