topic Sofi CC $10 Monthly fee : who cancelled with me? 😎 in Credit Cards

Sofi CC $10 Monthly fee : who cancelled with me? 😎

Wavester64 — Mon, 23 Feb 2026 22:08:26 GMT

Was just curious if anyone joined me in cancelling the Sofi CC with the new $10 monthly fee?

I thought they might do something, retention offer, a few months without the fee, something, but alas nothing.

I was a Sofi customer from the start and one of the early Sofi CC adopters.

They only thing they offered (which calling it an offer is laughable) is they said I could continue to use it until 2-24-26 and they would waive the fee. I was like "26", you mean "27" right? Hes like no, 2026. I was like what, so in 4-days I gotta come back here and start this all over again? No way, cancel it now. And that was it. 5-years of being a Sofi CC user done.

Who else cancelled? Curious to see who cancelled and who kept.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

FicoMike0 — Tue, 24 Feb 2026 00:10:48 GMT

I'm with you in spirit. I would have cancelled, but I was never willing to do bidness with them in the first place. They offer 0 sub on their cards, that number represents my interest level. Cheap ba$tard$!

Say, looking at their offerings, is the $10/ month card a secured card? That's an even worse deal! Did they offer to pc to a no fee card?

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

ptatohed — Tue, 24 Feb 2026 00:16:06 GMT

All three offerings say No AF. Is it just because the AF hasn't kicked in yet?

https://www.sofi.com/credit-card/

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

FicoMike0 — Tue, 24 Feb 2026 00:37:51 GMT

@ptatohed

You didn't look hard enough, it's called sofi+. Here,

https://www.sofi.com/sofi-plus/

Looks more like a minus to me.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

ptatohed — Tue, 24 Feb 2026 02:27:53 GMT

@FicoMike0 wrote:
@ptatohed
You didn't look hard enough, it's called sofi+. Here,
https://www.sofi.com/sofi-plus/
Looks more like a minus to me.

@FicoMike0 I don't believe that is an annual fee for their credit card. That's simply a subscription fee for their "plus" plan. The $10 per month SoFi+ plan makes no reference to any credit card.

I'm confused. This $10/mo plan is obviously something one would have to opt into. OP makes it sound like his existing SoFi card will all of a sudden have a $10/mo fee. Unless they are making existing card holder join SoFi+ to keep their existing credit card? Even then, the $10/mo is no more a credit card fee than the Robinhood Gold subscription plan is a credit card fee.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

FicoMike0 — Tue, 24 Feb 2026 04:14:54 GMT

The op will have to speak for himself.

if you read the deal, you get a SoFi Smart Card.

And

"Help avoid overspending because the limit on your Smart Card equals your SoFi Checking and Savings balance."

So, it's sort of a debit card, pretending to be a credit card, or its a secured credit card. There's no hard pull either. It seems a little shady to me.

Then again, for those who want to build credit and don't have any, maybe it's not such a bad deal. I'm paying $95 af for bcp, mostly for 6% back on groceries. I guess you get your $10 back on every $200 you spend on groceries.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

bs1234 — Tue, 24 Feb 2026 04:47:47 GMT

@ptatohed wrote:
@FicoMike0 wrote:
@ptatohed
You didn't look hard enough, it's called sofi+. Here,
https://www.sofi.com/sofi-plus/
Looks more like a minus to me.

@FicoMike0 I don't believe that is an annual fee for their credit card. That's simply a subscription fee for their "plus" plan. The $10 per month SoFi+ plan makes no reference to any credit card.

I'm confused. This $10/mo plan is obviously something one would have to opt into. OP makes it sound like his existing SoFi card will all of a sudden have a $10/mo fee. Unless they are making existing card holder join SoFi+ to keep their existing credit card? Even then, the $10/mo is no more a credit card fee than the Robinhood Gold subscription plan is a credit card fee.

Pretty sure this was documented here when it happened, but indeed some (perhaps all, perhaps not) of the holders of the 2% flat credit card received a notice that as of some near date, to help restrain costs (or some such nonsense) there would be a monthly $10 fee for the credit card. No extra services, just a new charge. They DID make it easy to cancel, just press a button, and my wife cancelled her card.

It's NOT something you have to opt in to, any card can add/change/remove an annual fee, just need to give sufficient notice and allow a customer to cancel.

It is surprising that the blurb says no annual fee. Perhaps they were just trying to cull the unprofitable, and will continue to do this with new customers who don't earn SoFi enough. Perhaps some will pay $10 a month (good for Sofi) or close the account (also good if their targetting is correct)

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

Wavester64 — Tue, 24 Feb 2026 13:52:40 GMT

@FicoMike0 wrote:
I'm with you in spirit. I would have cancelled, but I was never willing to do bidness with them in the first place. They offer 0 sub on their cards, that number represents my interest level. Cheap ba$tard$!
Say, looking at their offerings, is the $10/ month card a secured card? That's an even worse deal! Did they offer to pc to a no fee card?

haha offer? They blantantly made sure I was informed that "a) Once this card is closed you cannot use it (duh, obviously) and here's the kicker (though probably not true, 2) I can never apply for another of their CCs (yup they said it). Nice Customer Service after being a customer since the beginning.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

Wavester64 — Tue, 24 Feb 2026 13:52:17 GMT

"...Pretty sure this was documented here when it happened, but indeed some (perhaps all, perhaps not) of the holders of the 2% flat credit card received a notice that as of some near date, to help restrain costs (or some such nonsense) there would be a monthly $10 fee for the credit card. No extra services, just a new charge. They DID make it easy to cancel, just press a button, and my wife cancelled her card..."

This is 💯 accurate.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

ptatohed — Tue, 24 Feb 2026 18:52:46 GMT

I completely and 100% believe you guys but, man, do I have an extremely difficult time believing that a prominent and well-respected financial institution would charge an AF of $120 for a 2% card. Unimaginable!

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

FicoMike0 — Tue, 24 Feb 2026 19:18:27 GMT

"a prominent and well-respected financial institution..."

That's not what they're talking about. It's so fi fo fum. They don't even have a real name.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

ptatohed — Tue, 24 Feb 2026 19:28:12 GMT

@FicoMike0 wrote:
"a prominent and well-respected financial institution..."
That's not what they're talking about. It's so fi fo fum. They don't even have a real name.

They have a stadium named after them!!! lol

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

FicoMike0 — Tue, 24 Feb 2026 20:11:04 GMT

What game do they play?

Sounds like the old bait and switch game, lol.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

Follower — Tue, 24 Feb 2026 21:17:49 GMT

@ptatohed wrote:
They have a stadium named after them!!! lol

@FicoMike0 wrote:
What game do they play?

Pro football.

Not to be confused wth Credit One Stadium, where they play tennis.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

Pppoolboy — Wed, 25 Feb 2026 23:09:51 GMT

This story has interested me for awhile. It seems a certain percentage of people got a "F* you" email from SoFi saying "You can pay huge money to keep this card OR YOU CAN EASILY CANCEL (hint hint). Just click below (hint hint). Like, right now (hint hint)."

Clearly SoFi has a weird plan (see below) targeting certain customers. The question no one can figure out is WHICH customers those are. I've queried people on my least-favorite web site, Reddit, and there seems to be no rhyme nor reason as to which customers are getting this letter.

I believe SoFi wants to get rid of certain customers and/or wants to soak certain customers whom SoFi believes have no other choice than to pay $120 a year for a mediocre credit card.

Based on my (informal crappy Reddit) research, I can't figure it out. Some customers who got the letter had lots of spend, others had little to none. Some had many other cards, others had few to none. Some had been with SoFi for years, some were new customers.

I have no idea other than the fact that SoFi clearly did the math and calculated that targeting a certain subset of customers for this fee would increase profits at some level. If anyone can nail it down further, I'd love to know.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

just1morecard — Tue, 10 Mar 2026 01:40:06 GMT

The $10 monthly fee only raises your 2% cash back to 2.2% cash back (among several other benefits). You can still keep the credit card and earn a flat 2% cash back for $0 in fees.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

bs1234 — Tue, 10 Mar 2026 02:43:24 GMT

@just1morecard wrote:
The $10 monthly fee only raises your 2% cash back to 2.2% cash back (among several other benefits). You can still keep the credit card and earn a flat 2% cash back for $0 in fees.

As explained before, for some people that is just not the case. They were offered the chance to keep the 2% for $10 a month, or they can close the card. No option to keep 2% for $0, or to pay for some enhancement.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

digitek — Tue, 10 Mar 2026 02:54:30 GMT

@Pppoolboy wrote:
This story has interested me for awhile. It seems a certain percentage of people got a "F* you" email from SoFi saying "You can pay huge money to keep this card OR YOU CAN EASILY CANCEL (hint hint). Just click below (hint hint). Like, right now (hint hint)."

Clearly SoFi has a weird plan (see below) targeting certain customers. The question no one can figure out is WHICH customers those are. I've queried people on my least-favorite web site, Reddit, and there seems to be no rhyme nor reason as to which customers are getting this letter.

I believe SoFi wants to get rid of certain customers and/or wants to soak certain customers whom SoFi believes have no other choice than to pay $120 a year for a mediocre credit card.

Based on my (informal crappy Reddit) research, I can't figure it out. Some customers who got the letter had lots of spend, others had little to none. Some had many other cards, others had few to none. Some had been with SoFi for years, some were new customers.

I have no idea other than the fact that SoFi clearly did the math and calculated that targeting a certain subset of customers for this fee would increase profits at some level. If anyone can nail it down further, I'd love to know.

If I were to guess it would be the people who carry balances but not a threat to default. Credit card companies make the most from those customers, lots of high interest payments and little risk of getting burned.

Ollo offered a good card for awhile only to people with mid range credit scores. I bet it's same deal with SoFi, might be a little more risky to lend, but profits are higher.

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

just1morecard — Tue, 10 Mar 2026 12:34:30 GMT

@bs1234 Thank you for clarifying. I was not included in the limited wave of cardholders given the 2/23 deadline, so I was not aware they were imposing two separate fee structures. Nowhere on their website do they specify this. A bit shady...

I started out as a checking/savings account member due to their incredibly generous APY. I then got their flat-rate 2% back card soon after as I didn't already have a card that offered that. The subsequent increase to 2.2% back was just icing on the cake for me. Seems like they may be targeting a subset of customers that don't have a lucrative relationship outside of the credit card?

Re: Sofi CC $10 Monthly fee : who cancelled with me? 😎

bs1234 — Tue, 10 Mar 2026 16:55:55 GMT

@just1morecard wrote:
@bs1234 Thank you for clarifying. I was not included in the limited wave of cardholders given the 2/23 deadline, so I was not aware they were imposing two separate fee structures. Nowhere on their website do they specify this. A bit shady...

I started out as a checking/savings account member due to their incredibly generous APY. I then got their flat-rate 2% back card soon after as I didn't already have a card that offered that. The subsequent increase to 2.2% back was just icing on the cake for me. Seems like they may be targeting a subset of customers that don't have a lucrative relationship outside of the credit card?

Yes, my wife, whose card was impacted this way, had almost no use (maybe $100 a year if that recently) so many issuers would have done a CLD or closed in that situation, so just an unusual way of dealing with it!

OTOH, I cannot claim to understand them. Two or so years ago, I had the card with a $30K limit, which they suddenly reduced to $1k, despite my 840-850 scores and my spend of about $60K in the previous year. I closed it so never got to act as a DP in this latest round!