A Bold Move in Banking
In an unexpected shift, SoFi Bank has announced a complete overhaul of its Plus membership, now requiring a $10 monthly fee. This change comes with the launch of the SoFi Smart Card, which offers a remarkable 5% cash back on grocery purchases. For many consumers, this could represent a significant opportunity to maximize rewards on everyday spending.
What’s New with SoFi Plus?
Previously, SoFi Plus membership was accessible for free through qualifying direct deposits. Starting March 31, 2026, that option will be eliminated, making the $10 monthly fee the only route to access the new benefits. The revamped membership boasts over 20 perks valued at more than $1,000 annually, including discounts at retailers and enhanced financial services. Notably, the SoFi Smart Card allows users to earn unlimited 5% cash back on grocery store purchases, making it one of the best options in the market for grocery spending.
The SoFi Smart Card: Worth It?
The SoFi Smart Card is designed exclusively for Plus members and offers significant rewards for grocery shopping. Unlike many cards that cap rewards or limit categories, this card promises 5% cash back on all grocery purchases, excluding superstores like Costco and Walmart. This means that families or individuals who spend a considerable amount on groceries could save over $600 annually, based on typical spending patterns. In comparison, cards like the Citi Custom Cash offer 5% on groceries but only on the first $500 spent each month, while the Amex Gold card provides 4x points with an annual fee of $325. If grocery shopping is a major expense for you, the SoFi Smart Card could easily justify the cost of the Plus membership.
Take Action: Apply for the SoFi Smart Card
With the new membership structure in place, now is an optimal time to apply for the SoFi Smart Card. The card’s 5% cash back on grocery purchases can help offset the $120 annual fee for SoFi Plus, especially for those who regularly buy groceries. Plus, the card allows members to build credit responsibly, as it reports to credit bureaus.
Simplifying Your Rewards with SuperPay
To seamlessly navigate the new SoFi offerings and ensure you're maximizing your rewards, consider using SuperPay. The app's Smart Card Picker feature can help you determine the best card to use for your grocery shopping and other purchases, ensuring you never miss out on potential cash back. Additionally, SuperPay’s Category Tracking feature automatically monitors rotating bonus categories, so you’ll always know when to optimize your spending across various cards, including the new SoFi Smart Card.
Your Next Step
Take control of your finances and maximize your rewards by downloading SuperPay on the App Store today. Transform your everyday spending into valuable savings and enjoy the benefits of the new SoFi Smart Card.