Introducing the SoFi Smart Card: The Best All-in-One Account

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apy financial

APY, or Annual Percentage Yield, shows how much money an investment or savings account can earn in a year, taking into account both the interest rate and how often that interest is added. Think of it like a snowball growing as it rolls downhill: the more frequently the snowball gains new snow, the faster it gets bigger. For investors, APY helps compare different options to see which one offers the best return over time.

12/10/2025 - 09:00 AM

Members Earn Unlimited 5% Cash Back Rewards at Grocery Stores and up to 4.30% APY¹on Savings Balances

SAN FRANCISCO--(BUSINESS WIRE)-- SoFi Technologies, Inc. (NASDAQ: SOFI), the one-stop shop for digital financial services, today announced the SoFi Smart Card, the best all-in-one account.² The account offers better choice and control over spending, attractive rewards, a way to build credit history, and high interest on savings balances. The Smart Card is exclusively available to eligible new SoFi Plus members starting today.

The Smart Card offers the best benefits of checking and savings products, debit cards, and credit cards, all in one account. While people use debit cards to avoid paying interest and spending beyond their account balance, they often miss out on rewards and protections typically offered only by credit cards. That’s why this account offers:

5% unlimited cash back rewards at grocery stores.³ 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 payments⁵ and no hard credit pull to apply.
$0 fraud liability,⁶ 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.⁷

“Smart Card is the best all-in-one account, hands down,” said Anthony Noto, CEO of SoFi. “Members get the best of debit and credit card benefits, all in one account. It’s our latest innovation to help people get their money right by staying in control of their finances, earning rewards on essential purchases to incentivize smart spending, improving their credit, and protecting their accounts.”

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.

About SoFi

SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. Over 12.6 million members trust SoFi to borrow, save, spend, invest, and protect their money – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi’s technology platform Galileo to build and manage innovative financial solutions across nearly 160 million global accounts. For more information, visit www.sofi.com or download our iOS and Android apps.

Disclosures

INVESTMENTS AND DIGITAL ASSETS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

SoFi Checking and Savings accounts are offered by SoFi Bank, N.A., Member FDIC.

Sofi Crypto products and services are offered by SoFi Bank, N.A.

Loans originated by SoFi Bank, N.A., NMLS #696891 (www.nmlsconsumeraccess.org). Equal Housing Lender.

Brokerage products offered through SoFi Securities LLC, member FINRA/SIPC. Information as of December 2025 and is subject to change.

¹Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

² The “all-in-one account” includes the benefits and services of the SoFi Smart Card account, SoFi Checking and Savings account and the SoFi Bank Debit Card. Smart Card is a charge card issued by SoFi Bank, N.A., Member FDIC, that is secured by your SoFi Checking and Savings account, a deposit account. Deposit accounts are FDIC insured while credit products are not.

The “best all-in-one account” is based on a SoFi review of competitive products that offer debit, credit, and savings features, assessing the APY earned on reserved funds, cash-back rates earned on grocery spend, and applicable fees, among other benefits. This review was based on publicly available data as of December 2025. Individual assessments and conclusions of the relative value of these components may vary.

The SoFi Smart Card is exclusively available to individual SoFi Checking and Savings accountholders who pay for SoFi Plus membership and is subject to application and approval. To qualify for the Smart Card, you must meet SoFi’s eligibility requirements, including verification of sufficient income to support your ability to pay for Smart Card balances. We will not extend credit if you do not meet our pre-established criteria. Your eligibility for a SoFi Smart Card, or a subsequently offered product or service, is subject to the final determination by SoFi Bank, N.A., as issuer, pursuant to license by Mastercard® International Incorporated. The SoFi Smart Card can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND ELIGIBILITY.

³ Earn 5% cash back rewards on eligible grocery store purchases with the SoFi Smart Card. Cash back rewards are issued in the form of SoFi Member Rewards points. Members earn 5 points for every dollar spent on eligible grocery store purchases. SoFi, in its sole discretion, determines grocery store eligibility. Superstores like Walmart and Target, warehouse clubs like Costco and Sam’s Club, convenience stores, grocery delivery services, and meal-kit delivery services are not considered grocery stores. All terms and conditions applicable to the use of SoFi Member Rewards apply. To learn more about SoFi Member Rewards, please see the SoFi Member Rewards page. No rewards points will be earned with respect to reversed transactions, returned purchases, cash advances, or other similar transactions.

⁴Estimated earnings based on 5% cash back rewards on grocery store purchases and the average monthly grocery spend for a family of four, as reported in the Urban Institute's American Affordability Tracker, released October 2025. Actual rewards earned will vary based on household size, grocery spending, and card usage.

⁵ On-time payment history may have a positive impact on a member's credit score. Late payments may negatively impact a member's credit score. SoFi will report members' Smart Card activity to Experian®. Impact on a member's credit may vary, as credit scores are independently determined by credit bureaus based on a number of factors, including the financial decisions members make with other financial services organizations.

⁶ Zero Liability Fraud Protection is a benefit offered by Mastercard®. Certain Mastercard® Credit Card Benefits have additional terms and conditions, which can be accessed through the Mastercard® Standard Credit Card Benefits portal. Please see your guide to benefits for details or call 1-800-MASTERCARD.

⁷SoFi Plus is a premium membership that gives members access to SoFi’s best rewards, benefits, and more when they pay the SoFi Plus Subscription Fee. Between 12/9/25–3/30/26, members with Eligible Direct Deposit or Qualifying Deposits will receive complimentary access to SoFi Plus. Benefits are subject to change and may not be available to everyone. All terms and conditions applicable to the use of SoFi Plus apply. To learn more about SoFi Plus and available benefits and terms, please see the SoFi Plus page.

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