Smart Card FAQs

How do I use my SoFi Smart Card?

1. Add money to your SoFi Checking and Savings accounts.

2. Use your SoFi Smart Card the same way you’d use any other credit card.

3. Each time you spend, an amount equal to the purchase amount is set aside as reserved funds in your SoFi Checking and Savings accounts to cover your Smart Card statement balance.

4. After each billing cycle, your Smart Card statement balance is paid automatically using your reserved funds if you’ve turned on autopay. You can also choose to pay manually from your SoFi Checking and Savings accounts or an external bank account.

5. Your payment history is reported to the credit bureaus, which can help build your credit history over time.

How is SoFi Smart Card connected to SoFi Plus?

Access SoFi Smart Card with a SoFi Plus paid subscription, to further help you reach your financial goals. With SoFi Plus, you can get extra savings, rewards, discounts, and more that add up to $1,000+ in value¹ with qualifying activities each year. For more information about SoFi Plus visit: sofi.com/sofi-plus

Will applying hurt my credit score?

No. We only do a soft credit pull when you apply, so applying won’t affect your credit score.

Keep in mind, opening any new credit or charge card account can impact your credit score. With SoFi Smart Card, your payment activity will be reported each month to TransUnion, Equifax, and Experian. Reporting usually happens at the start of each month, though it may take a few weeks to show up on your credit report.

We report the following information:

•  Basic account details (your name, address, and when your account was opened)

•  Your account status (whether it’s in good standing or past due)

•  Your payment history

Are there interest charges or account fees?

There’s no interest charged on your SoFi Smart Card account, and there are no membership fees.

However, if a payment isn’t received by your due date, a late fee of up to $41 may apply. If applicable, a late fee will be charged one day after your payment due date and appear on your next monthly statement.

What are the benefits of SoFi Smart Card?

•  5% cash back rewards at grocery stores²

•  No hard credit check

•  ATM cash withdrawals

•  Built-in fraud protection⁷

How does autopay work?

When you turn on autopay, your SoFi Smart Card balance will automatically be paid each month using your reserved funds. Reserved funds are set aside in your SoFi Checking and Savings accounts as you spend to pay your statement balance.

What if I don’t turn on autopay?

You’ll need to pay your SoFi Smart Card balance manually each month. You can pay from your SoFi Checking and Savings accounts or from an external bank account. Remember, an amount equal to your purchases is already set aside as reserved funds, and autopay is the easiest way to make sure your payment is on time.

What’s the difference between SoFi Smart Card and a debit card?

SoFi Smart Card is a charge card secured by your SoFi Checking and Savings accounts. Each time you make a purchase, an amount equal to the purchase amount is set aside in your checking and savings accounts as reserved funds to cover your Smart Card statement balance.

•  If autopay is on, those reserved funds automatically pay your SoFi Smart Card statement balance each month

•  If autopay is off, you’ll need to make a one-time payment from your reserved funds or an external bank account

We report your account and payment activity to the three major credit bureaus, which can help you build credit with on-time payments. And unlike traditional credit cards, SoFi Smart Card has no interest charges or revolving balances.

A debit card, on the other hand, pulls money directly from your checking account each time you spend. Typically, debit card activity is not reported to credit bureaus and has no impact on your credit.

If I get SoFi Smart Card, can I still use my SoFi debit card?

Yes, your SoFi Checking account comes with a virtual debit card that’s linked to your checking balance. You can add it to your digital wallet, such as Apple Wallet or Google Wallet, and use it anywhere debit is accepted. You can also request a physical debit card by calling us at (855) 456-7634.

Can I use my SoFi Smart Card at an ATM?

Yes, you can use your SoFi Smart Card to withdraw cash with no fees at over 55,000 Allpoint ATMs across the U.S. Out-of-network ATMs may charge additional fees.

When using your SoFi Smart Card at an ATM, choose “credit” if asked. You can withdraw up to $2,000 a day.

Why did my SoFi Smart Card’s ready to spend amount go negative?

When you make a purchase with your SoFi Smart Card, the initial amount is authorized at checkout. In some cases, the final charge can be slightly higher (for example, a restaurant charge with the addition of a tip).

If that final amount is more than what’s available in your SoFi Smart Card’s ready to spend amount (the total amount of your SoFi Checking and Savings account balances), your ready to spend amount may temporarily go negative.

To bring your ready to spend amount above zero, add money to your SoFi Checking and Savings account or make a one-time payment to your SoFi Smart Card account balance from an external bank account.

Do I need SoFi Checking and Savings to get a SoFi Smart Card?

Yes. SoFi Smart Card works together with your SoFi Checking and Savings accounts. Your SoFi Checking and Savings balances set your spending limit, so your SoFi Checking and Savings accounts need to be active and funded before you can start using your SoFi Smart Card.

If I have joint SoFi Checking and Savings accounts, can I get a SoFi Smart Card?

Not yet. SoFi Smart Card is currently available only for individual SoFi Checking and Savings accounts. We’re continuing to improve and expand functionality, and we’ll let you know as soon as Smart Card becomes available for joint accounts.

Smart Card Disclosures

SoFi Plus: SoFi Plus is a premium membership that gives members access to our 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.

¹The value of a SoFi Plus membership varies depending on benefits used, and there is no guarantee you will reach any specific value. $1,000+ estimated value is based on the average activity of existing SoFi Plus members for the following benefits over a 12-month period: an average of $17,000 deposited in a high-yield savings account with a 3.8% APY at the start of the 12-month period, $22,000 average annual spend on the SoFi Unlimited 2% Credit Card (with a 10% boost on cashback rewards), and one additional 30-minute session (beyond the basic member benefit) with a certified financial planner, with an assumed value of $250. Other benefits may be available. SoFi Credit Card cashback rewards are earned in the form of rewards points, and rewards points redeem at a rate of 1 cent per point. SoFi Plus members must be approved for a SoFi Credit Card in order to receive the corresponding benefit. Savings and spend assumptions are based on average activity from existing SoFi Plus members between the period of 4/1/2024 – 4/30/2025.

²Earn 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. This benefit is subject to continued paid SoFi Plus subscription. All terms and conditionsapplicable 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.

The SoFi Smart Card is a charge card issued by SoFi Bank, N.A., Member FDIC, that is secured by your SoFi Checking and Savings account. The 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 you 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.

³Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet.

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you’re earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder’s Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.

⁴

Active SoFi Plus members are eligible for a 2% match offer on qualifying recurring IRA contributions, up to their Internal Revenue Service (IRS) contribution limit, into their eligible new or existing SoFI IRA account. The match requires the funds and match to be maintained in the account that received the match for five (5) years from the settlement date. Matches are paid in cash within five (5) business days. For complete eligibility and terms, please see the SoFi Plus terms and SoFi 1% Rollover and IRA Deposit Match terms. SoFi Invest encompasses services provided by SoFi Wealth LLC (Automated Investing/advisory) and SoFi Securities LLC (Active Investing/brokerage), Member FINRA/SIPC.

⁵

Must be an active SoFi Plus member at the time a recurring deposit is received into your SoFi Invest account to qualify. The match is calculated on each settled recurring deposit made via ACH and paid out in cash within five (5) business days. SoFi reserves the right to change or terminate this promotion at any time without notice. For complete eligibility and terms, please see the SoFi Plus terms.

⁶SoFi Plus members can schedule an unlimited number of appointments with a financial planner. For complete SoFi Plus eligibility, please see the SoFi Plus terms.

SoFi members who do not meet the SoFi Plus eligibility criteria can schedule one (1) thirty-minute appointment with a financial planner.

Members can only schedule an unlimited number of appointments with a financial planner during periods in which the member meets the SoFi Plus eligibility criteria. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.

⁷Zero 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.

Tug-of-War at the Fed

The longest government shutdown in history ended on Nov. 12, but for markets, things were just getting started.

First, we learned we’ll never get unemployment or inflation reports for October, but September labor data was finally released — and only added to the uncertainty: 119,000 jobs were added versus expectations for just 52,000, but the unemployment rate rose from 4.3% to 4.4%.

Meanwhile, opposing views among Federal Reserve officials continued to stoke debate over whether they will lower benchmark interest rates again at their December meeting. Although the discord was already evident at their October meeting — when there were not only two dissenting votes, but they favored going in opposite directions — the lack of consensus was reinforced by the Nov. 19 release of the minutes from that meeting.

As the month progressed, Fed officials continued litigating their opposing stances in public, fueling wildly oscillating bets on a December rate cut. And as is typical, the interest rate volatility didn’t occur in a vacuum – it sucked in other assets with it.

Futures-implied December 2025 Rate Cut Odds

The Great Rotation

If you had to choose one word to describe November markets, “calm” would decidedly not be it.

The month as a whole was deceptively flat for stocks: the S&P 500 was down over 4% as of Nov. 20 but then bounced back to finish the month barely in the green.

And that’s not to mention the significant rotation that occurred beneath the surface: the AI trade that powered portfolios all year ended the month down 8%, while capital rotated into the Health Care sector, boosting its November return to 9% (its best month versus the broader market since 2001).

Relative Monthly Returns for Health Care vs. the S&P 500

Other asset classes saw an even starker divergence. Cryptocurrency markets suffered a severe drawdown, decoupling entirely from other “risk-on” assets. Conversely, gold staged a powerful rebound after its October swoon, surging back near all-time highs. Commodities such as copper and natural gas had a good month as well.

If nothing else, the rotation into typically defensive areas of the market suggests underlying skepticism about the resilience of stocks, even as indices remain near their highs.

Market Recap

Asset Returns

November 2025 Sector Total Returns

Macro

•  President Trump signed into law a short-term funding agreement to end the longest government shutdown in history.

•  The September Employment Situation report was finally released on Nov. 20, showing 119k jobs added and a 4.4% unemployment rate, both higher than consensus expectations.

•  The Bureau of Labor Statistics officially announced that the October unemployment and inflation data would be permanently skipped due to the lack of data collection during the shutdown.

•  Oil prices finished the month below $60 a barrel, the third such month since early 2021.

•  The Japanese Yen depreciated sharply against the U.S. dollar for the second straight month, bringing the currency to its weakest level since January.

Equities

•  With 97% of the S&P 500 having reported results, the EPS growth rate stands at 15%, the fastest since the fourth quarter of 2021.

•  Health Care outpaced the broader market by 9.0 percentage points, the biggest return differential since 2001.

•  Value stocks beat growth stocks by 4.3 percentage points, the most since March.

•  AI stocks declined 8.0 percentage points in November, their second worst performance since Dec 2022.

•  Though it closed near its lows of the month, stock market volatility, as measured by the VIX Index, peaked at 26.4 on Nov. 20, its highest level since April.

Fixed Income

•  Interest rate cut expectations oscillated wildly as Fed officials made public comments on the economic environment, falling as low as 29% on Nov. 19 and as high as fully priced by Nov. 30.

•  Corporate bond spreads widened then narrowed as rate cut expectations eased and intensified, respectively.

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SoFi can’t guarantee future financial performance, and past performance is no indication of future success. This information isn’t financial advice. Investment decisions should be based on specific financial needs, goals and risk appetite. Information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by SoFi.

Communication of SoFi Wealth LLC an SEC Registered Investment Adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Mario Ismailanji is a Registered Representative of SoFi Securities and Investment Advisor Representative of SoFi Wealth. Form ADV 2A is available at www.sofi.com/legal/adv.