SoFi wants to step up its credit card game—here’s why its new cards may not go far enough

The news: SoFi launched two new credit cards, the SoFi Everyday Cash Rewards Credit Card and the SoFi Essential Credit Card, per a press release.

• The Everyday Cash Rewards card offers 3% cash back on dining and food delivery, 2% on grocery and convenience purchases, and 1% on everything else.
• The Essential card is marketed as a card to help consumers build or improve their credit scores.

SoFi previously had just one credit card in its portfolio, the SoFi Unlimited 2% credit card.