SoFi Credit Card vs. Wells Fargo Active Cash Card Benefits
By Caren Weiner | Updated August 24, 2026
When you’re shopping for credit cards, it’s easy to get overwhelmed by the number of available cards and each one’s specific selling points. For maximum ease and versatility, cash back rewards cards are a popular choice. These cards give users reward points for each eligible purchase; typically, the rewards equate to a small percentage of the amount spent.
Two well-known cards in this category are SoFi’s Unlimited 2% Credit Card and Wells Fargo’s Active Cash Card. Before you apply for a credit card, it’s worth taking a quick look at how these two cards stack up.
- Key Points
- • Both the SoFi Unlimited card and Wells Fargo Active Cash card feature a $0 annual fee.
- • Each credit card pays an unlimited 2% cash back reward rate on all eligible purchases.
- • SoFi Unlimited cardholders avoid foreign transaction fees and receive up to $1,000 in cell phone coverage.
- • Wells Fargo Active Cash provides a $200 welcome bonus alongside a 12-month 0% intro APR offer.
- • SoFi members can also take advantage of one-on-one sessions with financial planners and discounts on loan fees.
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What is the SoFi Credit Card?
The SoFi Unlimited 2% Card is a Mastercard that pays out 2% cash back rewards on eligible purchases. Cardholders can apply their reward points to balances in active SoFi accounts — including banking, investing, loan, or credit card accounts — or put them toward SoFi Travel purchases.
Whether you have a SoFi credit card or not, you can also apply for membership in SoFi Plus and receive benefits. Visit the SoFi Plus page for details on specific membership and promotional offerings.
Benefits of SoFi Credit Card
• Cash back rewards: Collect 2% cash back rewards on all purchases
• No annual fee: See pricing, terms, and conditions
• SoFi Plus perks: Earn reward points on your card if you are a SoFi Plus member and garner 10% additional cash back
• Fraud defense: Stay safe with zero liability fraud protection and identity theft protection
• Cell phone insurance: Rest easy with up to $1,000 of coverage against loss or damage
• Travel benefits: Pay no foreign transaction fees; get 3% cash back rewards on trips booked through SoFi Travel
• Mastercard World Elite amenities: Enjoy 24/7 travel concierge services along with monthly Lyft credits, preferred access to sightseeing options and concert tickets, and more
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What is the Wells Fargo Active Cash Card?
The Wells Fargo Active Cash Credit Card is an all-purpose Visa credit card that also gives a user 2% cash back rewards. The rewards remain valid as long as the account is open. They can be applied to credit card or bank account balances or designated as a means of payment for participating merchants.
Benefits of Wells Fargo Active Cash Card
• 0% intro APR: Pay no interest for the first 12 months on purchases and qualifying balance transfers
• Cash back rewards: Earn unlimited 2% cash rewards on purchases
• Cash rewards bonus: Collect $200 in rewards after making $500 in net purchases in the first three months
• No annual fee: Get the card for free, with no yearly cost
• Cell phone insurance: Enjoy damage or theft protection of up to $1,200 per year
• Fraud protection: Face zero liability for unauthorized charges that are reported promptly
• Travel services: Free Visa Signature Concierge benefits include assistance with reservations and bookings. Roadside assistance services are offered for a set fee.
SoFi Credit Card vs. Wells Fargo Active Cash Card
Feature |
SoFi Credit Card |
Wells Fargo Active Cash Card |
|---|---|---|
$0 |
$0 |
|
Cash back rewards rate |
2% |
2% |
Minimum credit limit |
$500 |
$1,000 |
Intro APR |
No discount; standard APR |
0% for first 12 months on purchases and balance transfers |
Welcome bonus |
None |
$200 cash rewards after spending $500 in purchases in first three months |
Maximum APR for purchases |
29.99% |
28.49% |
Maximum balance transfer fee |
$10 or 5% of the balance transfer, whichever is greater |
Up to 5% for each balance transfer, with a minimum of $5 |
Late payment fee |
Up to $41 |
Up to $40 |
Cell phone damage or theft protection |
Total coverage $1,000 per year (two claims, up to $800 per claim) |
Total coverage $1,200 per year (two claims, up to $600 per claim) |
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SoFi Plus Advantages for SoFi Credit Card
If you sign up for a SoFi Unlimited 2% credit card, adding a SoFi Plus membership for $10 per month may make the card even more valuable. That’s because membership in SoFi Plus boosts the card’s standard 2% rate to 2.2%.
The 10% cash back bump also applies to money spent on SoFi Travel bookings. SoFi Plus members who use their SoFi Unlimited 2% card to book travel through the platform portal can earn cash back rewards of up to 3.3%.
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SoFi Plus Benefits
SoFi Plus membership brings with it an array of other features.
The premium banking services, for example, include a SoFi Bank savings account offering 4.50% APY on up to $20,000 (with a 3.10% APY on all other savings balances).
SoFi Plus members can also book an unlimited number of one-on-one sessions with SoFi Wealth planners to help them set up their financial future.
Investment bonuses are available too. SoFi Plus will match 1% of eligible deposits into non-retirement taxable Invest accounts.
Borrowers who have SoFi Plus status can obtain discounts on fees for new loans. They’re eligible for a 0.25% rate discount on personal loans, a $200 home equity loan origination fee discount, an extra $500 SoFi mortgage origination fee discount, and more.
There’s also the bonus of special pricing on exclusive SoFi Plus Experiences, including live music, sports, and entertainment events in many cities across the U.S.
The SoFi Plus calculator can help you assess how SoFi Plus’s amenities could benefit you.
Tips to Maximize SoFi Plus Benefits
In addition to boosting your SoFi Unlimited 2% cash back by 10%, you can maximize your SoFi Plus membership rewards in various other ways. Here are some examples:
• Book free one-on-one sessions with SoFi Wealth-affiliated financial planners. They can help you map out prudent tax, retirement, or budgeting strategies that could soon recoup the cost of a membership.
• Beef up your balance in a SoFi Savings account to $20,000 to get full value from its top APY tier of 4.50%.
• Make deposits into a SoFi non-retirement Invest account to capture the 1% match. (You’ll want to make a note of multi-year holding rules required to keep the bonus.)
The SoFi Plus perks supplement all the other ways that regular SoFi members can earn rewards points. These may include:
• Signing up for credit score monitoring (new members only)
• Activating a SoFi debit Mastercard
• Setting up bill payment from a SoFi Money® or SoFi checking account
• Raising a credit score by 5+ points (trackable via SoFi’s free credit score checks)
The Takeaway
The SoFi Unlimited 2% Credit Card and the Wells Fargo Active Cash Card both give users rewards points totaling 2% of their spending. Both credit cards provide a range of useful perks that can enhance cardholders’ financial well-being. Those with the SoFi credit card can often multiply their member rewards points after they enroll in SoFi Plus.
SoFi Plus is America’s most rewarding financial membership—all in one app.* Unlock extra savings, rewards, discounts, and more.
