Loan Conversion

On the date that is 15 months after the opening of your SoFi Credit Card Account, the total amount of the outstanding account balance as of such date (the “Conversion Amount”) will be automatically converted into a closed-end loan in an amount equal to the Conversion Amount. Upon such conversion, the Conversion Amount will post as a one-time credit to your SoFi Credit Card Account, thereby zeroing out the outstanding balance on your SoFi Credit Card Account as of such date. The terms and conditions of such closed-end loan will be set forth in the personal loan agreement that you will receive if you are approved for a SoFi Credit Card Account.

Following the conversion of your outstanding account balance as provided above, your SoFi Credit Card Account will remain open and you may continue using your SoFi Credit Card Account to make transactions subject to the terms of the Cardholder Agreement.

The conversion of your outstanding account balance as provided above may be delayed if any of the following conditions exists with respect to you or your account on the date that is 15 months after the opening of your account: (1) suspected or confirmed fraud; (2) participation in a disaster relief or hardship program; (3) pending anti-money laundering compliance review; (4) active dispute or chargeback; or (5) our reasonable belief that you are in default. Any such delay will continue so long as the applicable condition exists and in no event more than 180 days. Upon the earlier of (a) the end of such delay or (b) the expiration of such 180 day period, the outstanding account balance as of such date will be converted as provided above. During any such delay, the terms of the Cardholder Agreement, including the standard APR(s) after the promotional period, will continue to apply to your account.

Material Loan Terms

The full terms and conditions of the closed-end loan described above are set forth in the SoFi Personal Loan Agreement that you must agree to at the time that you agree to the Cardholder Agreement as a condition to the opening of your SoFi Credit Card Account. Such loan will be subject to the following terms and conditions, among others set forth in such loan agreement:

Loss of Introductory APR

Any promotional APR may be revoked if you fail to make at least the minimum payment within 60 days of the due date. Your new APR will be the standard APR.

How We Will Calculate Your Balance

We use the “daily balance” method, including new transactions, to calculate the daily balance on which we will charge interest.

Variable Rates

Your Annual Percentage Rate(s) will vary with the market based on the Prime Rate. If the Prime Rate changes, your Annual Percentage Rate(s) will adjust accordingly. Complete details regarding how the variable rate is determined are set forth in the Cardholder Agreement.

Payment Allocation

We decide how to apply your payment, up to the minimum payment, to the balances on your account. We may apply the minimum payment first to interest charges, then to the balances with the lowest APR and then to balances with higher APRs.

If you pay more than the minimum payment, we’ll apply the amount over the minimum payment first to the balance with the highest APR, then to the balance with the next highest APR, and so on, except as otherwise required by applicable law.

SoFi 2% Unlimited Credit Card Terms & Conditions

The SoFi 2% Unlimited Credit Card is issued by SoFi Bank, N.A. (“SoFi”, “we”, “us”, or “our”). By submitting this application, you request that we establish a card account (the “SoFi Credit Card Account”) for you. You agree that all information provided in this application must be verifiable and accurate. The SoFi Credit Card Account will be governed by the terms of the cardholder agreement (“Cardholder Agreement”) which will be delivered by or provided when the SoFi Credit Card Account is issued.

Your eligibility for a SoFi Credit Card Account or a subsequently offered product or service is subject to the final determination by SoFi. Please allow thirty (30) days from the date of submission to process your application.

You must be at least 18 years of age (or of legal age in your state of residence). The card offer referenced in this communication is only available to individuals who reside in the United States. This communication is not and should not be construed as an offer to individuals outside of the United States.

Identity Verification

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW CARD ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens a SoFi Credit Card Account. This means that we will ask for your name, address, date of birth, and other information that will allow us to identify you when you open a SoFi Credit Card Account. We may also ask to see your driver’s license or other identifying documents, and obtain identification information about you.

Credit Reports

Upon completion of your credit card application and submission, you authorize us to request a copy of your credit report from one or more consumer reporting agencies. Upon receiving your completed application, we will conduct a soft credit pull, which will not impact your credit score. You hereby authorize us to conduct a soft credit pull upon receipt of your application. You understand that after evaluating your completed application and soft pull credit report, we may determine not to offer credit to you. If we approve your application, we will conduct a hard credit pull, which might impact your credit score. You hereby authorize us to conduct a hard credit pull following approval of your application.

You authorize us to request credit reports and other information about you from consumer reporting agencies and other sources, for such purposes as: (a) determining whether to issue you a SoFi Credit Card Account, (b) administering, reviewing and renewing the SoFi Credit Card Account, (c) credit line increases or decreases, (d) collection and other servicing of the SoFi Credit Card Account, (e) offering other products, (f) services, and (g) for any other uses permitted by law. We may report negative information about your SoFi Credit Card Account payment history, like delinquencies, to consumer reporting agencies.

Cardholder Agreement

If you are approved for a SoFi Credit Card Account, you will receive the Cardholder Agreement. By activating your SoFi Credit Card Account, using the SoFi 2% Unlimited Credit Card or making any payment to your SoFi Credit Card Account, you are agreeing to be bound by the terms of the Cardholder Agreement. We have the right to make changes to the terms of your SoFi Credit Card Account (including rates and fees) in accordance with the Cardholder Agreement.

Credit Eligibility

To receive a SoFi Credit Card Account, you must meet certain applicable criteria bearing on creditworthiness. Your revolving credit limit may be determined based on the following:

• Your annual salary and wages

• Any other annual income

• A review of your debt, including the debt listed on your credit report

• A review of your credit history and other factors deemed relevant by the issuer

We will inform you of your revolving credit limit when you’re approved for your SoFi Credit Card Account. Some credit limits may be as low as $500.

No Authorized Users

Authorized users are not permitted on your SoFi Credit Card Account and you are not permitted to share your SoFi Credit Card with another person.

Additional information

Any benefit, reward, service or feature offered in connection with your SoFi Credit Card Account may change or be discontinued at any time for any reason, except as otherwise expressly indicated. SoFi isn’t responsible for products and services offered by other companies.

SoFi 2% Unlimited Credit Card Rewards Program

• With the SoFi 2% Unlimited Credit Card, you can earn rewards points for purchases made using your card, and you can redeem those points for statement credits, rewards offered through the SoFi Member Rewards Program, or other rewards offered from time to time. More details on SoFi 2% Unlimited Credit Card Rewards can be found here.

SoFi Member Rewards Program

• As a SoFi member, you can earn rewards points by using features across SoFi products that are designed to help you “Get Your Money Right”. 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 Automated Invest account, SoFi Credit Card account, SoFi Personal Loan, Private Student Loan, Student Loan Refinance, or towards SoFi Travel purchases, your rewards points will redeem at a rate of 1 cent per every point. More details on the SoFi Member Rewards Program can be found here.

World Mastercard Benefits

• You are also eligible for more rewards through the World Mastercard Benefits program when shopping with eligible merchants. More details on the World Mastercard Benefits program can be found here.

Fraud, Misuse, Abuse, or Suspicious Activity

If we see evidence of fraud, misuse, abuse, or suspicious activity, we’ll investigate and, if we determine that fraud, misuse or abuse has occurred, we may take action against you. This action may include, without limitation, and without prior notice:

• Taking away the SoFi rewards points you earned because of fraud, misuse, or abuse

• Suspending or closing your SoFi Credit Card Account

• Taking legal action to recover our monetary losses, including litigation costs and damages

Some examples of fraud, misuse, abuse and suspicious activity include:

• Using your SoFi Credit Card Account in an abusive manner for the primary purpose of acquiring SoFi rewards points

• Using your SoFi Credit Card Account other than primarily for personal, consumer or household purposes

SoFi reserves the right to take action, including but not limited to those actions enumerated above, based on your activity across any SoFi product, as well as external information received from SoFi third-party vendors, external bureaus, or industry referrals.

Special Notices

California Residents:
If married, you may apply for a separate account.

Delaware Residents:
Service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month.

Ohio Residents:
The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that consumer reporting agencies maintain separate credit histories on each individual upon request. The Ohio civil rights commission administers compliance with this law.

Wisconsin Residents:
If you are applying for individual credit or joint credit with someone other than your spouse, and your spouse also lives in Wisconsin, combine your financial information with your spouse’s financial information. No provision of any marital property agreement, unilateral statement under Section 766.59 of the Wisconsin statutes or court order under Section 766.70 adversely affects the interest of the lender, unless the lender, prior to the time credit is granted, is furnished a copy of the agreement, statement or decree or has actual knowledge of the adverse provision when the obligation to the lender is incurred. If married, you understand that your lender must inform your spouse if a credit account is opened for you.

Additional documents

As a reminder, the SoFi 2% Unlimited Credit Card is a completely digital product. All written communications related to the card will be online or in electronic format. The following is a link to the SoFi Esign terms and conditions that you agreed to in connection with the SoFi 2% Unlimited Credit Card.