(NewsUSA) - Whether you are at the gas pump, the grocery store or even shopping online, the higher prices resulting from the current state of inflation are hitting everyone hard. Fortunately, smart consumers can find ways to help reduce the inflation burden.
One easy way to curb inflation is by getting cash back on your credit card purchases. For the maximum in savings and flexibility, look for credit cards that offer the highest percentages of cash back along with other benefits and opportunities to optimize your investments, as well as your purchases.
SoFi, a modern personal finance company, has created a unique credit card designed to help you keep more money in your pocket and reach your financial goals.
“SoFi is a one-stop shop for people’s financial needs. Our unique technology stack and broad suite of products enable us to build offerings that work better when you use them together,” says Anthony Noto, CEO of SoFi.
It is easy to apply for a credit card online, but the ways the SoFi credit card helps consumers makes this one ideal for curbing inflation.
- Save money simply. The SoFi credit card does not charge an annual fee and lets you earn up to 3% cash back for a full year once you are approved. To qualify for the 3% cash back reward, users must set up direct deposit through the SoFi network. Users can choose to send deposits directly to their high-yield checking or savings account. Also, there’s no need to worry about minimum balance requirements in your accompanying SoFi account; there aren’t any.
- Enjoy extra benefits. Users who make 12 consecutive on-time payments can lower their APR by 1%. Other benefits include complimentary cell phone insurance coverage of up to $1,000, no foreign transaction fees when traveling overseas and Mastercard ID theft protection, which protects your personal information by identifying and alerting you to potential fraud.
- Cash in on crypto. The SoFi credit card allows users to redeem their cash back directly into cryptocurrency; the funds go into your SoFi active invest account. This option allows you to trade crypto, as well as stocks and ETFs.
- Pay down debt. SoFi credit card users earn two reward points for every dollar spent on eligible purchases, but you choose how you use these rewards. Deposit them as cash into your checking and savings account, as a fractional share in your investment account, as cryptocurrency or as payments towards SoFi personal or student loans.
Keep these smart strategies in mind, and you can make the most of your money and credit to help manage the challenges of inflation.