SoFi has just shaken up the grocery rewards landscape: the new SoFi Smart Mastercard will offer unlimited 5% back at grocery stores, and crucially, you no longer need to pay the $10/month SoFi Plus Premium subscription to access this benefit. This move makes the card one of the most rewarding options for everyday grocery spend, with no caps or hoops to jump through.
Our Take
Good news for heavy grocery spenders. Removing the $10/month subscription wall instantly makes the SoFi Smart Mastercard a serious contender for anyone looking to maximize grocery rewards. While the card lacks premium travel perks, 5% uncapped cash back is nearly unheard of in this category—especially with no annual or monthly fee.
What Changed
- Unlimited 5% back on grocery store purchases is now available to all SoFi Smart Mastercard holders
- The previous $10/month SoFi Plus Premium subscription requirement has been dropped
- No mention of caps or restrictions on the 5% grocery category (per Frequent Miler)
Who Benefits Most
- Large families or high grocery spenders: Spend $1,000/month on groceries? That's $50/month, or $600/year back—far more than most capped grocery cards.
- Students and young professionals: No subscription fee means you can maximize rewards without extra costs, even on modest grocery budgets.
- Cashback maximizers: If you already have a strong travel card, this is an easy way to boost your grocery returns without switching banks or juggling rotating categories.
- Those who missed out on 6%/4% capped cards: If you regularly hit the $6,000 annual cap on other grocery cards, SoFi's uncapped 5% is a clear upgrade.
Who Should Be Cautious
- Travel rewards enthusiasts: If you prefer earning transferrable points for travel, this card's cash back may not align with your strategy.
- Warehouse club and superstore shoppers: If you buy groceries mainly at Costco, Walmart, or Target, check if these stores code as grocery—many do not.
- Existing premium cardholders: If you already get 4-6% back on groceries (even if capped), weigh whether uncapped 5% is worth opening another account.
What To Do Right Now
- Watch for the official SoFi Smart Mastercard launch and application details—no public application link yet.
- Review your current grocery card: if you’re hitting caps or earning less than 5%, consider switching.
- Check your grocery shopping patterns: confirm your main stores code as grocery merchants.
- If you’re a SoFi Plus subscriber, consider downgrading—this benefit is now free.
- Stay tuned for more details on redemption options, fees, and potential exclusions.
