ToolsCard ScoresSoFi Everyday Cash Rewards
Is the SoFi Everyday Cash Rewards worth it?
MoneyRoom Card Score
7.8/ 10
If you already use SoFi, yes: 3% on dining and 2% on groceries with no fee, and rewards that go straight into your SoFi accounts. If you don't, SoFi's flat-rate card is the simpler pick.
Data: MoneyRoom card catalog (details pending verification are flagged) · scores update daily · catalog data as of 2026-09-30 (source: www.sofi.com) · How we verify
SoFi's bonus-category card covers the two things a food-first household spends most on: 3% at restaurants and 2% at supermarkets, over an ordinary base rate. A typical year of spending works out to about 1.6% back; no fee gives a perfect value score, a small monthly Lyft credit puts its effort score at 7.3, and the overall score is 7.8.
It assumes you live in the SoFi app: rewards come as SoFi points worth a cent each and move easily into SoFi checking, savings or investing. That's smooth for members and pointless for everyone else — so the real comparison isn't with other banks' cards but with SoFi's own flat-rate card, whose higher rate on everything wins unless most of your spending is dining and groceries.
Credits vs. fee
No annual fee to cover.
The SoFi Everyday Cash Rewards lists $60 in yearly credits and benefits at face value (their full amounts). Using our published assumptions, we estimate a typical cardholder gets back about $31. Typical value applies our published discounts for what makes credits easy to miss: deadlines, limits on where you can use them, enrollment (switching a credit on once), and waiting to be paid back.
| Credit / benefit | Resets | Face value / yr | Typical value |
|---|---|---|---|
| Lyft ride creditRideshare | Monthly | $60 | $31 |
| Yearly total | $60 | $31 | |
After the fee, at face value:+$60 / yr
After the fee, at typical use:+$31 / yr
The fine print that matters
Why is typical value less than face value?
The categories are fixed — nothing rotates — but the card isn't upkeep-free anymore: a Lyft credit pays a few dollars a month after qualifying rides, the kind of monthly credit we discount the most, and the effort score of 7.3 reflects it. Skip rideshare and you simply have the old card. The rest of the fine print is SoFi's other card: its flat-rate card pays a higher single rate on everything, so this card only earns more when the 3%/2% rates cover enough of your spending to make up for the lower base — roughly, when food is most of your statement. The app treats both cards the same, so the choice is just category math, with nothing to lose by switching.
Lyft ride credit — $31 typical of $60 face
Rideshare
- Resets monthly × 0.65
- Only works at certain places × 0.80
Earning
What does everyday spending actually earn?
Rewards come as points, which we value at 1¢ per point (a middle-of-the-range value). On our published mix of everyday spending, that works out to 1.6% back.
| Category | Rate | After spending caps | Note |
|---|---|---|---|
| Dining | 3% | 3.00% | |
| Groceries | 2% | 2.00% | |
| Gas | 1% | 1.00% | Base rate |
| Flights booked direct | 1% | 1.00% | Base rate |
| Hotels booked direct | 1% | 1.00% | Base rate |
| Everything else | 1% | 1.00% |
Not in the score
What does the score leave out?
- The SoFi app. Instant transfers into savings or investing are the selling point — convenient, but with no fair dollar figure.
- Member rates. Any special loan or deposit rates for members aren't part of the card's published terms.
- The welcome offer. One-time, left out as on every page.
Your own numbers
See if it pays for itself for you.
The score assumes a typical cardholder. The free Annual Fee Calculator loads this card's real credits and fee and lets you enter what you'd actually use — no account needed.
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Questions
Common questions before you apply.
This or SoFi's flat-rate card?
Food decides: if dining and groceries are most of your spending, the 3%/2% rates win; otherwise the flat-rate card's higher base rate wins. Same app, same redemption, and either is easy to hold.
What does it score?
7.8 out of 10: perfect value, effort 7.3 for the monthly Lyft credit, and earning 5.3 at about 1.6% back on a typical year of spending.
Do I need to be a SoFi member?
You need SoFi accounts for the rewards setup to make sense. The card works either way, but its whole convenience pitch assumes the app is already on your phone.
When do the SoFi Everyday Cash Rewards credits reset?
Each credit has its own schedule: 1 credit resets monthly. Calendar-based credits reset at the start of their month, quarter, half, or year. Unused amounts don't roll over. See every card's reset calendar.