Robinhood has just announced a Platinum credit card during their live keynote. Card benefits as follows:
- $695 annual fee
- Credits:
- $250 Doordash Credit.
- Two $10 credits per month with three in December. Order must be $50+ to qualify
- $250 Restaurant Credit
- One $20 credit per month, with a $30 credit in December. Valid at 15,000 participating restaurants
- $500 Hotel Credit
- One $250 credit every six months. Valid on qualifying luxury hotel bookings through Robinhood travel portal. Can use up to $100 of that towards standard hotel bookings.
- $300 Travel Credit
- One $150 credit every six months. Valid on rideshare services, hotel charges, flights, and other travel-related purchases. Doesn’t need to be booked through Robinhood portal.
- $250 Autonomous Credit
- One $20 credit per month with a $30 credit in December. Valid for for qualifying autonomous ride purchases.
- $200 Wearables credit
- Seems to be a flat $200 credit but more details are available in app and they aren’t provided yet?
- $250 Doordash Credit.
- Card earns at the following rates:
- 10% Cashback on Hotels through Robinhood travel portal
- 5% Cashback on Dining on the first $50,000 in spend per year. ‘Dining’, including restaurants, takeout, and delivery,
- 5% Cashback on Flights through Robinhood travel portal
- 1% Cashback on all other purchases
- Memberships:
- Robinhood gold (normally $5 per month)
- Oura ($70 value)
- Function Health ($365 value)
- Amazon Health ($199 value)
- Priority pass select membership. Unlimited access for primary cardholder.
- Global Entry/TSA Credit (up to $120 every 4 years)
Full legal terms here. Will update this post as I go.
Contents
F.A.Q’s
Can you hold the Robinhood gold card and Robinhood Platinum?
No, during live stream they said you have to upgrade gold to platinum. Gold card is useful so this is disappointing.
Will there be a sign up bonus?
Unknown currently.
Do the credits stack each month?
No, they are use it or lose it.
Only paid authorized users do (unknown cost) and they only get access to certain benefits:
- Wellness Benefits
- Function Health annual membership
- Amazon One Medical annual membership
- Oura membership
- Travel Benefits
- Priority Pass Select membership
- Global Entry/TSA PreCheck reimbursement
When will it be available?
They said first 15,000 after end of keynote will get an offer for the card.
Our Verdict
What I don’t like:
At first glance I said wow this is amazing but some of the credits are ridiculously difficult to use. For example the $50 minimum spend on DoorDash is bad enough but the fact it’s two $10 credits (three in December) is crazy. Hotel credit is only available on luxury properties. Earning rates look good until you realize it’s only on travel booked through the Robinhood portal and that seems to be overpriced.
What I do like:
- 5% back on dining is very nice
- $300 travel credit is great as it doesn’t need to be booked through Robinhood portal, shame it’s two $150 credits instead of a flat $300 credit but that is minor.
