SoFi Plus is a paid membership that costs $14 per month and bundles banking, investing, and credit-monitoring features into one subscription

SoFi Plus is an optional add-on to a SoFi Checking and Savings account. If you open a SoFi account without it, you pay nothing. If you choose to add SoFi Plus, the monthly charge appears on your account statement. You can cancel it at any time, and the charge stops the following month.

The membership is designed for people who want multiple SoFi products in one place and are willing to pay for convenience and bundled features. It is not required to use SoFi's basic checking, savings, or investing accounts — those remain free. SoFi Plus is a choice, not a requirement.

Key Takeaways

  • SoFi Plus costs $14 per month and includes credit monitoring, investment advisory tools, and higher cash-back rates on certain purchases.
  • You do not need SoFi Plus to use SoFi's free checking and savings accounts or to invest through SoFi Invest.
  • The subscription can be turned on or off in your account settings without penalty, and you can cancel anytime.
  • Whether SoFi Plus saves you money depends on how much you use the credit monitoring, how often you invest, and whether you spend enough to earn back the monthly fee in cash-back rewards.

What SoFi Plus includes

SoFi Plus bundles several features that are otherwise unavailable or limited in the free SoFi account. The membership includes credit monitoring through a third-party service, which shows your credit score and alerts you to changes in your credit report. It also includes investment advisory tools — automated portfolio recommendations based on your risk tolerance and goals — and access to SoFi's financial planning resources.

The subscription raises your cash-back rate on certain SoFi debit card purchases. With SoFi Plus, you earn higher cash-back percentages on categories like dining, rideshare, and streaming services compared to the base SoFi account. The exact rates vary and change over time, so check your account or SoFi's website for current percentages.

SoFi Plus also includes priority customer support, meaning your calls and messages are routed ahead of non-members. This matters most if you have a complex account issue or need to reach someone quickly.

When the $14 monthly fee makes sense

SoFi Plus pays for itself if you use enough of its features. If you spend $200 or more per month on categories that earn higher cash-back with the membership, the rewards alone may cover the $14 fee. Add in credit monitoring — which costs $10 to $20 per month if purchased separately — and the math tilts further in the membership's favor.

The subscription is most valuable for people who already use multiple SoFi products. If you have a SoFi checking account, a SoFi savings account, and a SoFi investment account, the bundled features and higher cash-back rates create more total value than if you use only one product. Someone who checks their credit score regularly and invests monthly through SoFi will see more benefit than someone who opens a SoFi account and never uses it again.

If you rarely spend on the cash-back categories, do not check your credit score, and do not invest, the $14 monthly charge is unlikely to pay for itself. In that case, the free SoFi account covers everything you need.

How to turn SoFi Plus on or off

SoFi Plus is managed inside your account settings. Log into your SoFi app or website, find the membership or subscription section, and toggle SoFi Plus on to start the charge or off to stop it. The change takes effect when ready or at the start of your next billing cycle, depending on when you make the change.

If you turn it off mid-month, you typically keep access to the features through the end of that billing period, then lose access when the next month begins. There is no cancellation fee or penalty — you can turn it back on later if you change your mind.

Check your SoFi statements regularly to confirm the $14 charge appears only when you want it. If you see a charge after you turned off the membership, contact SoFi customer support to have it reversed.

How SoFi Plus compares to other bank memberships

Other banks and financial apps offer similar paid memberships. Chase has Chase Sapphire, which costs more but includes travel insurance and higher rewards rates. Fidelity offers premium brokerage accounts with advisory services. Credit monitoring is also available through free services like Credit Karma or paid services like Experian.

The value of SoFi Plus depends on whether you already bank with SoFi and whether the specific features it includes match what you use. If you are comparing SoFi Plus to a competitor's membership, list the features you actually use — not the features that sound nice — and calculate whether the cash-back rewards and other benefits cover the monthly cost.

Common reasons people cancel SoFi Plus

Many people sign up for SoFi Plus, use it for a few months, and then cancel because the $14 monthly charge adds up without delivering obvious value. This happens most often when someone opens a SoFi account for the checking and savings features, adds SoFi Plus out of curiosity, and then forgets to turn it off.

Others cancel because they do not spend enough in the cash-back categories to make the fee worthwhile, or because they realize they can get credit monitoring for free elsewhere. If you find yourself in this situation, turning off SoFi Plus is straightforward and costs nothing.

Frequently Asked Questions

Can I use SoFi without SoFi Plus?

Yes. SoFi's checking, savings, and investing accounts are all free without the membership. SoFi Plus is optional and adds features on top of the free account. You can use SoFi for years without ever paying the $14 monthly fee.

Does SoFi Plus include overdraft protection or fee waivers?

SoFi Plus does not waive overdraft fees or include overdraft protection. It focuses on cash-back rewards, credit monitoring, and investment tools. Check your SoFi account terms for overdraft policies, which may vary based on your account type and history.

What happens to my credit monitoring if I cancel SoFi Plus?

You lose access to the credit monitoring service included with SoFi Plus once your membership ends. If you want to keep monitoring your credit, you can use free services like Credit Karma or Experian, or pay for a separate credit monitoring subscription.

Can I get a refund if I was charged for SoFi Plus by mistake?

Contact SoFi customer support with proof that you did not authorize the charge or that you turned off the membership before being charged. SoFi can review your account history and reverse charges if they find an error. Keep screenshots of your account settings as evidence.

Does SoFi Plus work with all SoFi products?

SoFi Plus works with SoFi checking, savings, and investing accounts. It does not explore to SoFi loans or other products. The cash-back rewards explore only to purchases made with your SoFi debit card, not to loan payments or other transactions.