SoFi Credit Card Bonus, 3% Back for One Year with Direct Deposit
SoFi has announced a new credit card offer for banking customers. SoFi Checking & Savings members with direct deposit can now earn 3% cash back on all eligible credit card purchases for a full year when they apply for and get approved for the SoFi Credit Card.
SoFi Checking & Savings accounts earn up to 1.25% APY, have no account fees or minimum balance requirements, as well as no-fee cryptocurrency purchases.
The SoFi Credit Card first launched in 2021. Carholders can redeem their cash back rewards directly into SoFi Invest to trade stocks, ETFs or trade crypto, pay off a personal loan held with SoFi, or add cash directly into their high-yield Checking & Savings account.
New direct deposit members will now also earn up to 3% cashback on SoFi Credit Card purchases if they maintain a qualifying direct deposit every month. But there’s a cap on this new offer.
You will only earn 3X back for up to 36,000 points or the equivalent of $12,000 spent on the SoFi Credit Card for one year. That’s a total of $360 in cash back for the year. That’s really just $120 more than the regular offer, or if you pout that spend on any other 2% cash back card.
If you thing this offer is for you, you can also get a bonus of up to $475 when you open a new SoFi Checking & Savings account with direct deposit. This account gives you fee-free ATM access via the Allpoint network. Keep in mind that this is different for the original SoFi Money account which had no ATM fees worldwide.
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