SoFi is changing the game with its SoFi Plus subscription, and not in a good way for those of us who snagged it for free with direct deposit. Starting in March 2026, that free ride is officially over, and everyone will need to cough up $10 a month to keep those Plus benefits. The fine print suggests a temporary extension between Dec 2025 and March 2026 for those with eligible direct deposits or qualifying deposits, but beyond that it's a pay-to-play situation.

What does this mean for you? If you're rocking the old SoFi credit card and enjoying that sweet 2.2% cashback, prepare for a downgrade to 2% unless you're willing to subscribe. On a brighter note, SoFi launched a new "Smart Card" with a tempting 5% cashback on groceries, BUT it's exclusively for SoFi Plus members.

The good news? The high-yield interest rate (currently 3.6%) on your SoFi savings account seems safe, at least for now. Even without SoFi Plus, as long as you have direct deposit set up, you'll still get the higher rate past March 2026. So, weigh your options: is that extra cashback and other perks worth $10 a month, or is it time to re-evaluate your rewards strategy?