SoFi Technologies, Inc. officially announced a major new product. It is a one-stop shop for a range of digital financial services. Consequently, the company introduced the innovative SoFi Smart Card. SoFi calls this the best all-in-one financial account. The account gives members better choice and control over spending. It also offers high interest on savings balances. Additionally, it offers attractive rewards and a path to building a credit history. The SoFi Smart Card is currently available exclusively to new SoFi Plus members.
Benefits of the All-in-One Account
The new card combines key benefits from several financial products. It includes the best features of checking, savings, debit, and credit cards. For instance, people often use debit cards to avoid paying interest. However, they miss out on rewards and credit card protections. The SoFi Smart Card solves this common problem. Members can earn unlimited 5% cash back rewards at grocery stores. They also receive up to 4.30% APY on their SoFi Savings balances. Furthermore, the card requires no hard credit pull to apply.
Anthony Noto, CEO of SoFi, celebrated the card’s debut and benefits.
“Smart Card is the best all-in-one account, hands down. Members get the best of debit and credit card benefits, all in one account. It’s our latest innovation to help people get their money right by staying in control of their finances, earning rewards on essential purchases to incentivize smart spending, improving their credit, and protecting their accounts.”
The card leverages Mastercard One Credential technology. This allows for multiple easy payment options. The company emphasizes the card’s focus on essential purchases. This includes 5% cash back on grocery store transactions. This strategy encourages smart spending habits. It helps customers get their money right. The card also provides $0 fraud liability.
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News Source: Businesswire.com
