Finance

How to Apply for a SoFi Credit Card

clevernero By clevernero 14 Min Read

I will share details on How to Apply for a SoFi Credit Card in this post. Applying for a SoFi credit card was one of the smarter financial moves I’ve made, and I’m excited to walk you through the process so you can decide if it’s right for you. SoFi offers a range of credit cards, like the SoFi Unlimited 2% Credit Card, the SoFi Everyday Cash Rewards Credit Card, and the SoFi Essential Credit Card, each designed to fit different financial needs.

How to Apply for a SoFi Credit Card
How to Apply for a SoFi Credit Card

Whether you’re looking to earn rewards or build credit, the application process is straightforward, but it helps to know what to expect. In this article, I’ll break down how to apply for a SoFi credit card in simple terms, share tips to boost your approval odds, and explain what makes SoFi’s cards stand out.

Why I Chose to Apply for a SoFi Credit Card

Before I get into the nitty-gritty, let me share why I was drawn to SoFi. Their cards have no annual fees, which is a big win for me since I hate extra costs. The SoFi Unlimited 2% Credit Card offers 2% cash back on all purchases when you redeem rewards into a SoFi account, like savings or a loan payment.

The Everyday Cash Rewards card gives 3% back on dining and 2% on groceries, which fits my lifestyle since I love eating out. The Essential card is great for building credit without a deposit, perfect if you’re starting fresh. Plus, SoFi’s app makes managing everything super easy. If these perks sound appealing, keep reading to learn how you can apply.

Step-by-Step Guide to Applying for a SoFi Credit Card

Here’s how I applied for my SoFi credit card and what you need to do to get started. I’ve broken it down into clear steps so you can follow along without feeling overwhelmed.

Step 1: Check If You’re Eligible

First, I made sure I met SoFi’s basic requirements. You need to be at least 18 years old, have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), and a physical U.S. address (no P.O. boxes). SoFi typically looks for a credit score of 700 or higher, which is considered “good” credit, but don’t worry if yours is lower—some users report approvals with scores as low as 650. You’ll also need enough income to cover monthly minimum payments. I checked my credit score for free using a site like WalletHub before applying to gauge my odds. You should do the same to avoid a hard inquiry if your score is too low.

Step 2: Become a SoFi Member (Optional but Helpful)

I’m a SoFi member, which means I have a checking, savings, or loan account with them. While you don’t have to be a member to apply, it can increase your chances of getting pre-qualified offers. To become a member, you just sign up on SoFi’s website or app—it’s free and takes a few minutes. Once you’re a member, opt into their marketing emails. SoFi periodically checks members for pre-qualified offers, which can simplify the application process. If you’re not ready to open an account, you can still apply directly, but I found membership gave me a slight edge.

Step 3: Look for Pre-Qualified Offers

One thing I loved was checking for pre-qualified offers before applying. These offers don’t guarantee approval, but they show you’re likely a good fit based on a soft credit pull, which won’t hurt your score. If you get a pre-qualification email or letter, click the “Apply Now” button or scan the QR code in the mailer. You can also log into the SoFi app or visit sofi.com/card/apply and select “Check for Offers.” I got a pre-qualified offer for the Unlimited 2% card, which gave me the confidence to proceed. If you don’t see an offer, you can still apply, but pre-qualification is a nice safety net.

Step 4: Gather Your Information

Before starting the application, I gathered all the info I’d need to avoid hiccups. You’ll need your full name, date of birth, SSN or ITIN, physical address, and phone number. SoFi also asks for your monthly housing costs and income details, like your job or other sources of money. I had my pay stubs handy to confirm my income, but you might not need to upload them unless SoFi asks. Double-check that your address is accurate, as a P.O. box won’t work. Having everything ready-made makes the process smooth for me, and it’ll save you time too.

Step 5: Fill Out the Application

Now it’s time to apply! I went to SoFi’s website and clicked “Apply Now” on the credit card page. The form asked for my details, address, and income. I also had to enter a six-digit code sent to my phone for two-factor authentication, which added a layer of security. After filling everything out, I reviewed the SoFi Credit Card Terms and Conditions, checked the box to agree, and hit “Submit Application.” The whole thing took me about 10 minutes. You’ll want to be thorough and accurate to avoid delays or denials.

Step 6: Wait for a Decision

After submitting, I saw a confirmation that SoFi was reviewing my application. Some people get instant approval, which is awesome, but mine took a couple of days. SoFi says it can take up to 7-10 business days, depending on your application. If you don’t hear back, you can call 1-855-456-7634 to check your status—just have your last name and SSN ready. I was nervous waiting, but staying patient paid off when I got approved for the Unlimited 2% card. If you’re denied, don’t lose hope; you can call 1-844-945-7634 to ask for reconsideration or work on improving your credit.

Step 7: Receive and Activate Your Card

Once approved, my card arrived in about 7-10 business days. I could also add it to my digital wallet right away, which was handy for online shopping. To activate it, I followed the instructions in the SoFi app, and I was ready to start earning rewards. You’ll want to set up autopay or reminders to avoid late payments, as those can ding your credit. I also took a moment to understand the card’s terms, like the 19.24% to 29.74% variable APR, so I could pay off my balance monthly and avoid interest.

Tips to Boost Your Approval Odds

Applying for a SoFi credit card isn’t just about filling out a form—it’s about presenting yourself as a low-risk borrower. Here are some tips that helped me and can help you:

  • Check Your Credit Score: A score of 700+ is ideal, but even a fair score (650-699) might work. If your score is lower, consider a secured card or improve your credit first.
  • Lower Your Debt: Pay down existing balances to show you can manage credit responsibly.
  • Avoid Multiple Applications: Too many hard inquiries can hurt your score, so apply for one card at a time.
  • Be Honest: Provide accurate income and address details to avoid fraud flags.
  • Join SoFi: Being a member and opting into marketing can lead to pre-qualified offers, which signal better approval odds.

What to Do If Your Application Is Denied

I was lucky to get approved, but if you’re denied, don’t panic. SoFi will send an adverse action letter explaining why, like a low credit score or high debt. You can call to appeal the decision or take steps to improve your credit, like paying off debt or disputing errors on your credit report. If you’re new to credit, the SoFi Essential Credit Card might be a better fit since it’s designed for building credit. You could also try a secured card elsewhere to establish a credit history before reapplying.

Why SoFi’s Credit Cards Stand Out

I’ve had other credit cards, but SoFi’s ecosystem makes them unique. The rewards tie into their other products, so if you have a SoFi loan or savings account, you can stretch your points further. There’s no foreign transaction fee, which is great for travel, and the app is user-friendly. The Everyday Cash Rewards card is invite-only, but if you get an offer, the dining and grocery rewards are hard to beat. The Essential card is a solid choice for beginners, reporting to all three credit bureaus to help you build credit.

What Credit Score Do I Need for a SoFi Credit Card?

You typically need a credit score of 700 or higher for a SoFi credit card, as they target applicants with good to excellent credit. However, some users report approvals with scores as low as 650, especially if you’re a SoFi member with a strong financial profile. Check your score beforehand to assess your chances.

Can I Apply for a SoFi Credit Card If I’m Not a Member?

Yes, you can apply without being a SoFi member, but being a member might improve your odds of pre-qualification. Membership is free, and signing up for a checking or savings account takes minutes. It also lets you opt into marketing for pre-qualified offers.

How Long Does it Take to Get Approved?

Approval can happen instantly, but it may take 7-10 business days for a decision. If you don’t hear back, call 1-855-456-7634 with your last name and SSN to check your status. Every application is different, so be patient.

What Happens If My Application is Denied?

If denied, SoFi will send an adverse action letter explaining why, like a low credit score or high debt. You can call 1-844-945-7634 to appeal or work on improving your credit. Consider the SoFi Essential Credit Card if you’re building credit.

Can I Add Authorized Users to My SoFi Credit Card?

Yes, you can add up to five authorized users after approval, but SoFi doesn’t allow co-signers. This is great for sharing the card with family while keeping control of the account. Check the SoFi app for details on adding users.

Conclusion

Applying for a SoFi credit card was a game-changer for me, and I hope this guide makes the process clear and approachable for you. By checking your eligibility, gathering your info, and following the steps I outlined, you can apply with confidence. SoFi’s cards offer great rewards and no annual fees, making them a solid choice for anyone looking to maximize their spending or build credit. If you’re ready to take the plunge, head to sofi.com/card/apply and get started.

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