You've probably heard of Robinhood, the personal finance platform that lets you purchase stocks, cryptocurrencies, fractional shares, retirement plans, and other investments without paying commission (other fees may apply). You may even have the Robinhood Cash Card, a prepaid card linked to a spending account.
Now, this popular fintech company has launched the Robinhood Gold Card, which earns at least 3% cash back on every purchase and includes valuable purchase and travel protections at no charge.
We've compared the Robinhood Gold Card rewards and benefits against the best cash-back credit cards on the market. Here's what you need to know.
Robinhood Gold Card Overview
The Robinhood Gold Card is ideal for Robinhood Gold subscribers who want to earn cash-back rewards and exclusive benefits through the Robinhood investment platform.
This card earns an unlimited 3% cash back on all purchases and doesn't come with an annual fee, although a monthly subscription to Robinhood Gold is required. For heavy spenders and people who plan on using all of the membership's benefits, the $5 monthly fee for Robinhood Gold is worth it when you factor in its high earning power and benefits.
The Robinhood Gold Card is available through waitlist only. Interested applicants who are preapproved for the card won't see any impact on their credit until they complete the card application when Robinhood initiates a hard credit inquiry.
The Robinhood Gold Card waitlist has more than one million interested users, and the company began rolling out the first Gold Cards to the first tier of recipients in April 2024.
$0
N/A
19.99% - 29.99% variable
N/A
Good to Excellent
- Unlimited 3% cash back on all purchases
- No annual fee
- No foreign transaction fees
- 5% cash back through Robinhood travel portal
- Requires Robinhood Gold premium subscription
- No welcome bonus
- Rewards do not transfer to airline or hotel partners
Compare the Robinhood Gold Card
$95
N/A
19.99% - 28.24% Variable
Earn 100,000 bonus points
Good to Excellent
- High intro bonus offer starts you off with lots of points
- Strong travel coverage
- Doesn't offer a Global Entry/TSA PreCheck application fee credit
If you're new to travel rewards credit cards or just don't want to pay hundreds in annual fees, the Chase Sapphire Preferred® Card is a smart choice. It earns bonus points on a wide variety of travel and dining purchases and offers strong travel and purchase coverage, including primary car rental insurance.
Chase Sapphire Preferred- Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- Member FDIC
$0
0% intro APR on purchases and qualifying balance transfers for 12 months from account opening
19.24%, 24.24%, or 29.24% variable
Earn $200 cash rewards bonus
Good to Excellent
- Good welcome bonus for a $0 annual fee card
- Straightforward 2% cash rewards on purchases with no categories to track
- Strong benefits including cell phone protection, Visa Signature perks, and an intro APR on purchases and qualifying balance transfers
- If you've opened a Wells Fargo card in the past six months, you may not qualify for an additional Wells Fargo credit card
- Foreign transaction fees
The Wells Fargo Active Cash® Card is definitely worth considering if you want to earn a strong rate of cash rewards on purchases without rotating categories or earning caps and with no annual fee. It's got a solid welcome bonus and intro APR offer, which puts it high on our list of the best zero-interest credit cards.
Wells Fargo Active Cash Card- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.24%, 24.24%, or 29.24% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don't expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
$325
N/A
See Pay Over Time APR
Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new card in your first six months of Card Membership
Good to Excellent
- Great rewards for dining and for shopping at U.S. supermarkets
- Monthly statement credit for eligible dining purchases recoups some of the annual fee
- Underwhelming welcome bonus
Foodies and travelers alike will appreciate the American Express Gold's generous welcome bonus and Membership Rewards points earning. Its Uber Cash credits are useful for rides and Uber Eats, and monthly dining credits with participating merchants like GrubHub and Seamless are easy to use.
Amex Gold Card- Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made at restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
Exclusive to Robinhood Gold Members
The Robinhood Gold credit card is restricted to those with Robinhood's premium Gold plan, which costs $5 a month or $50 yearly. Robinhood Gold subscription members get 4.00% APY on uninvested cash in their brokerage account, a 3% match on IRA retirement contributions, and will soon enjoy a 1% boost on brokerage deposits.
This subscription service includes numerous features to justify the monthly fee:
- 4.00% APY on savings with FDIC insurance up to $2.25 million
- Unlimited 3% cash back with the Robinhood Gold Card
- 1% boost on every deposit
- 3% IRA matching on every eligible dollar contributed
- Instant access on deposits to invest up to $50,000 per day
- Complimentary NASDAQ Level 2 data and Morningstar Insights
New members can try Robinhood Gold free for 30 days before committing to paying the $5 monthly fee.
Unique Design
Most Robinhood Gold Cards are made of stainless steel and weigh 17 grams, making this card one of the heftiest metal credit cards on the market.
Top-tier Gold members can even request a 36-gram version made from real 10-karat gold. To be eligible for the real-gold version, applicants must refer 10 or more new subscribers to the Robinhood Gold membership.
Cash-Back Rewards Card
Unlike many rewards credit cards that offer high rates on select categories and paltry rewards on everything else, the Robinhood Gold Card earns an unlimited 3% cash back on every purchase. It even earns at least 50% more cash back than rival cards with a flat earning structure, like the Citi® Double Cash Card , which earns a combined total of 2% on all purchases after you pay off your balance.
The Robinhood Gold Card has no annual fee and doesn't charge foreign transaction fees on purchases outside the U.S. It includes generous travel and purchase protections, and you'll earn 5% cash back when booking travel through the Robinhood travel portal.
Designed for Investors
With its integration into the Robinhood Gold membership, the Robinhood Gold Card is designed for Robinhood investors. Existing Robinhood Gold members receive priority on the card's waitlist to apply. Cardholders can redeem rewards in the form of investment funds for their Robinhood brokerage account or for gift cards, travel, or shopping.
Robinhood Gold Card Rewards
Welcome Bonus
At this time, the Robinhood Gold Card does not offer a welcome bonus to new customers.
Earning Rewards with the Robinhood Gold Card
Cardholders earn an unlimited 3% cash back on all purchases, with no spending caps or geographic restrictions. You'll also receive 5% cash back on travel purchases booked through the Robinhood travel portal.
Redeeming Rewards with the Robinhood Gold Card
Cardholders can redeem cash-back rewards through the Robinhood mobile app (Apple, Google) at a value of 1 cent per point. Your rewards are unlimited, and you can redeem them at any time and for any amount in the following ways:
- Brokerage account deposit. Deposit rewards into your Robinhood brokerage account to boost your investment balance.
- Shop with points. Purchase items through the Robinhood shopping portal using points. If you don't have enough points, you can charge the difference to your credit card.
- Book travel. Redeem points for flights, hotel rooms and more through the Robinhood travel portal. Combine cash with your points if you don't have enough points to cover the entire reservation.
- Purchase gift cards. Buy virtual gift cards from a variety of merchants for yourself or as a gift.
- Statement credits. Reduce your balance by redeeming rewards as a statement credit. Take note that these credits do not count toward your minimum monthly payments.
Robinhood Gold Card Benefits and Features
Trip Cancellation and Interruption Protection
If you use your Robinhood Gold Card to pay for a trip that's canceled or interrupted for a covered reason such as injury or illness, your Visa Signature benefits will cover up to $2,000 in nonrefundable expenses per traveler in your immediate family (you, partner, and any dependent children). Conditions and terms apply, so make sure you read the fine print carefully.
Purchase Security
New retail purchases paid for with your Robinhood Gold Card or cash-back rewards are eligible for purchase protection benefits within the first 90 days after your purchase. This benefit will replace, repair, or reimburse you for the total purchase price up to $1,000 per item and up to $10,000 per cardholder if the purchased item is stolen or damaged.
Auto Rental Collision Damage Waiver
You're eligible for an auto collision damage waiver when you rent a vehicle and pay for the transaction using your Robinhood Gold Card. This waiver covers theft, damage, valid loss-of-use charges imposed and substantiated by the auto rental company, administrative fees and reasonable and customary towing charges, due to a covered theft or damage to the nearest qualified repair facility.
This waiver provides primary coverage outside of the country of your residence. Within your country of residence, the level of coverage for which you are eligible will depend on any existing insurance policies you may hold.
Extended Warranty Protection
Extended warranty protection benefits extend the warranty on certain eligible purchases paid with your Robinhood Gold Card. You'll need to either register your eligible item through www.cardbenefitservices.com, or make sure you keep your purchase paperwork showing payment, itemized sales receipt, original warranty, and any additional protection in the event of a claim.
Authorized Users
Robinhood Gold Card cardholders can add authorized users of any age so everyone in the family can build credit.
Financial Management and Fraud Protection
Primary cardholders can also track transactions, set spending limits, and lock lost cards immediately in order to prevent theft or fraud.
Robinhood Gold Card Fees and Requirements
Annual Fee
The Robinhood Gold Card does not have an annual fee, but does require a Robinhood Gold membership, which costs $5 a month or $50 yearly.
Other Fees
While the Robinhood credit card doesn't have an annual fee, other fees may apply to your account. Here is a quick rundown of the fees you may incur based on your card activity:
- Interest charges on purchases: 19.99% - 29.99% variable APR
- Interest charges on balance transfers: 19.99% - 29.99% variable APR
- Interest charges on cash advances: 29.99% variable APR
- Balance transfer fees: None
- Cash advance fees: 5% of each transaction amount (minimum $10)
- Foreign transaction fees: None
- Overlimit fees: None
- Late payment fees: $29 for the first late payment, then $40 for the second instance within six months.
- Returned payment fees: Up to $40
- Replacement card fee: $40
Who Should Get the Robinhood Gold Card?
Ideal For:
The Robinhood Gold Card is ideal for several types of consumers:
- Current Robinhood Gold members who want to maximize their rewards. If you're an existing subscriber, applying for the Robinhood Gold Card is an ideal way to maximize rewards on spending since there's no annual fee.
- Investors who want to automatically reinvest their cash-back rewards. The cash-back rewards will boost your brokerage account balance and supercharge your investment returns. Set up recurring redemptions or manually redeem rewards when you're ready to make your next trade.
- Those who value a high flat cash-back rate on all purchases. Many people prefer to use one card for all their purchases without having to remember bonus categories or deal with caps on rewards. The Robinhood Gold Card earns an unlimited 3% cash back on every purchase, no matter where you're spending your money.
Not Ideal For:
- Those who don't use Robinhood for investing. The Robinhood Gold Card requires an active subscription to Robinhood Gold. This card probably won't be a good fit for investors who favor other brokerage firms or investing companies, even if its benefits are appealing.
- People seeking a card with rotating bonus categories or travel perks. This card features a flat earnings rate on every purchase. However, it doesn't offer bonus categories to maximize rewards on fixed or rotating bonus categories that may be higher. Additionally, the Robinhood Gold Card provides travel protections but doesn't include travel perks such as elite status, free checked bags, or an annual free night certificate that offers exceptional value.
Alternatives to the Robinhood Gold Card
The Robinhood Gold Card is the best cash-back credit card for Robinhood loyalists. But if you prefer other rewards or don't want to sign up for another subscription service, you may be better off with a different credit card.
Here are a few alternatives you should consider when comparing the Robinhood Gold Card to other cashback cards.
Robinhood Gold Card vs.Citi® Double Cash Card
The Citi® Double Cash Card is a straightforward cash-back credit card with no annual fee. You'll earn 1% cash back on purchases, plus another 1% as you pay it off for a total of 2% cash back. New customers can also earn a $200 cash back, fulfilled as 20,000 ThankYou® Points, after spending $1,500 on purchases in the first six months of account opening, while the Robinhood Gold Card does not offer a welcome bonus.
Those with the Citi® Double Cash Card can also take advantage of an introductory APR of 0% intro APR on balance transfers for 18 months (then 18.24% - 28.24% Variable APR). A zero-interest period is an excellent way to eliminate high-interest credit card debt, and it's a feature that Robinhood doesn't offer. While the Citi® Double Cash Card is light on benefits, cash-back rewards can be transferred to a limited number of airline and hotel partners.
Read our Citi Double Cash Card review.
Robinhood Gold Card vs. Bank of America® Customized Cash Rewards Credit Card
Investors who prefer to earn higher rewards through bonus categories will appreciate the Bank of America® Customized Cash Rewards Credit Card. This card earns 3% cash back in the eligible category of your choice plus automatic 2% cash back at grocery stores and wholesale clubs on the first $2,500 in combined spending each quarter.
While the Bank of America® Customized Cash Rewards Credit Card's earning rates are lower than the Robinhood Gold Card, Bank of America Preferred Rewards loyalty program members can earn up to 75% more cash back based on their investment relationship tier with this bank. If you have this boost as a Preferred Rewards member, you can earn up to 5.25% per dollar on eligible spending.
Like the Robinhood Gold Card, the Bank of America® Customized Cash Rewards Credit Card has no annual fee. However, it offers an intro APR offer of 0% intro APR for 15 billing cycles on purchases and on any balance transfers made within 60 days of account opening (then 19.24% - 29.24% Variable APR) that isn't available from Robinhood. Furthermore, customers who qualify for Preferred Rewards get additional savings and interest rate boosts similar to Robinhood Gold without paying a monthly fee.
Read our Bank of America Customized Cash Rewards Card review.
Robinhood Gold Card vs. The Platinum Card® from American Express Exclusively for Charles Schwab
For investors who prefer premium travel benefits, the American Express Platinum Card from Charles Schwab offers generous perks in exchange for a high annual fee. The card earns 5x points on flights booked directly and 5x points on flights and prepaid hotels booked through Amex Travel. However, it only earns 1x points on everything else, which is much lower than the Robinhood Gold Card. While it has a $695 annual fee, you can earn a statement credit of up to $1,000 based on your qualifying Schwab investment holdings.
Additionally, the card includes generous travel perks, including airport lounge access, a $200 hotel credit, $200 airline fee credit and more. Cardholders also receive complimentary Marriott Bonvoy and Hilton Honors Gold elite status when you enrolled, elite style benefits through Fine Hotels & Resorts and travel protections on trips booked on your Amex Platinum Card. If you don't have a Schwab account, you can apply for the standard The Platinum Card® from American Express directly through American Express, which doesn't include the relationship credit for your investment balances.
Robinhood Gold Card Frequently Asked Questions
Is the Robinhood Gold Card worth it?
The value of the Robinhood Gold Card depends on your spending habits, including how much you spend and where. Since this card doesn't have an annual fee, it's easy to justify for existing Robinhood Gold members. But if you don't already have a Robinhood Gold membership, you'll need to compare the additional benefits to determine if it's worth it for your situation.
Can I transfer my cash-back rewards to another account?
Yes, you can transfer cash-back rewards earned from the Robinhood Gold Card to another account. Simply redeem your rewards into your Robinhood brokerage account, then transfer to a linked bank account. Alternatively, you can also apply cash in your brokerage account to reduce your card's outstanding balance.
What is the credit limit for the Robinhood Gold Card?
Credit limits for Robinhood Gold Card members depend on a variety of factors including income and creditworthiness. Robinhood evaluates applicants' personal information and credit reports to determine their card's credit limit and interest rate.
How to get a Robinhood Gold Card?
There is a waitlist to apply for the Robinhood Gold Card. Submit your name and email to reserve your spot on the waitlist, and sign up for a Robinhood Gold membership if you haven't already so you can ensure early access.
Who issues Robinhood Gold Card?
The Robinhood Gold Card is issued by Coastal Community Bank, Member FDIC. It is a Visa credit card offering unlimited 3% cash back on every purchase, and offering many other valuable perks with no annual fee.
Why You Should Trust Us: How We Reviewed the Robinhood Gold Card
Business Insider's experts reviewed the Robinhood Gold Card by comparing it to other investor-targeted cash-back cards on the market. We evaluated a few different factors including reward earning rates, annual fees or associated costs of holding the card, benefits and perks, convenience of use, and ease of reward redemption. Learn more about how we rate credit cards.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
For rates and fees of the American Express® Gold Card, please click here.
