Sofi is now offering a credit card that will provide you with 2% cashback on all of your purchases. This credit card is a great way to help achieve your financial goals while building a solid payment history for your credit report. If you’re thinking about applying for a Sofi credit card, we will share the steps for obtaining one below.
It All Starts Online
To apply for a SoFi credit card, you’ll need to head online to their official website. Then, navigate to the credit card tab and hit the apply button. Finally, you’ll be required to fill out various personal information to help Sofi identify who you are.
This information includes data like your full name, social security number, address, phone number, employment information, income, and so forth. If you’re already a Sofi banking member, most of the applications will be pre-filled to save you the trouble of doing so.
Getting a Pre-Approval
Once you submit your credit card application to Sofi, it will be entered into the pre-approval process. This is where Sofi looks at crucial information like your income and credit history.
According to the experts at SoFi, “When you apply, SoFi conducts a soft credit pull that will not affect your credit score. An approved application will result in a hard credit pull, which may impact your credit score.” This means that you can seek a pre-approval to ensure that you’re eligible for the credit card before having a hard pull show up on your credit history.
Receive Approval and Your Credit Card
If you’re approved for a credit card from Sofi, you can expect your new credit card to be mailed out within ten business days. You’ll receive a copy of the Terms & Cardholder Agreement via email so that you can review all the necessary terms that you agree to. Once you get your new Sofi credit card, you’ll need to activate it.
Once activated, you can swipe, tap, or dip (insert your card) to use it. It’s important to note that you will have to dip your card before the tap feature becomes enabled. This is an enhanced security feature that helps to prevent credit card fraud.
Unique Features of a Credit Card From Sofi
When you opt for getting your next credit card from Sofi, you can take advantage of many unique and excellent features. First and foremost is the 2% cashback on all of your purchases. You can redeem your points to pay for many expenses, like your student loan debt. Another unique feature is that Sofi will reduce your credit card’s interest rate by 1% after you make 12 consecutive on-time monthly payments.
Card recipients will also receive cell phone protection insurance up to $1,000 worth of coverage and Mastercard ID Theft Protection. With no annual fee, this credit card can be a significant financial decision to help you going into the future.
If you’re in the market for a new credit card, be sure to check out getting one from Sofi.