What does Annual Percentage Rate (APR) mean?
APR is the interest charged for borrowing; it represents the yearly cost expressed as a percentage.
What is promotional APR?
A promotional rate is an introductory interest rate only offered to select members during the promotional period before or after you open your SoFi Credit Card.
Promotional APRs can be for qualifying card purchases and/or balance transfers. Offer details, terms, and conditions will vary by promotion.
What is the APR after the balance transfer or spend promo ends?
Once any promotional period ends, the unpaid remaining balance will be set to the Standard APR as reflected in your Cardholder Agreement.
Why did my interest rate change?
Interest rates are evaluated for each applicant individually based on financial history, cash flow, and other factors. Please see the terms and conditions for additional details.
We understand you want to find the best rates. We look at various factors when determining our borrower's rates, and the APR is based on your creditworthiness. It will also vary with the market based on the Prime Rate. Your APR for purchases can be found in your cardholder agreement on the SoFi website:
https://www.sofi.com/card/account/more/documen ‘ - Credit Card Documents', then select your 'Cardholder Agreement' to find your APR.
How can I get a lower APR rate on my SoFi Credit Card?
Many factors determine the credit limit and APR. At this time, the interest rate on the account is the best we can extend to you; we are unable to reduce it today. See your terms and conditions for additional details.
What will my APR rate be on my balance transfer if I fail to make the minimum payment?
If you fail to make the minimum payments by the due date, your promotional APR will be revoked and your new APR will be set to the standard purchase APR.