In 2024, **Robinhood** [revealed the introduction of its inaugural credit card](https://newsroom.aboutrobinhood.com/the-new-gold-standard-introducing-the-robinhood-gold-card/), the **Robinhood Gold Card**. With a consistent cashback rate on every purchase and enhanced rewards for travel, this card could be a great option—particularly for existing Robinhood Gold members.
### Robinhood Gold Card Launch Information
The **Robinhood Gold Card** is set to debut later in 2024, and you can **register for the waitlist** now to claim your place. This exclusive **17-gram stainless steel Visa Signature** card is issued by Coastal Community Bank (an FDIC member). We have summarized the essential details, features, and fees to assist you in determining whether this card is a worthwhile addition to your financial toolkit.
### Robinhood Gold Card Summary
Here are the key highlights regarding the Robinhood Gold Card:
– **Rewards Rate**: 3% cashback on all transactions.
– **Bonus Rewards Rate**: 5% cashback on travel booked through Robinhood’s travel portal.
– **APR**: 19.99% – 29.99%.
– **Annual Fee**: A $5 monthly Robinhood Gold subscription is necessary (no specific annual fee for the card).
– **Welcome Bonus**: None.
### Notable Features
The **Robinhood Gold Card** distinguishes itself with its flat-rate 3% cashback on all purchases and 5% cashback on travel. Here are some additional significant features:
– **Family Features**: No age limitations for authorized users, enabling younger family members to establish credit. Monitor spending, set limits, and lock cards for enhanced security.
– **Virtual Cards**: Utilize virtual cards with disposable numbers for increased security during online purchases.
– **Travel Benefits**: Provides trip interruption protection, Visa Signature concierge services, and travel support.
– **Purchase Protection**: Features purchase security, extended warranties, return protection, and zero liability for fraudulent transactions.
– **Vehicle Assistance**: Includes a car rental collision damage waiver and access to Roadside Dispatch.
– **Robinhood Integration**: Rewards can be effortlessly transferred to your **Robinhood brokerage account** for investment or interest accrual on uninvested funds.
### Rewards Structure
As stated, the **Robinhood Gold Card** has a clear rewards system:
– 3% cashback on all transactions.
– 5% cashback on travel booked through the Robinhood travel portal.
You can redeem your rewards in various ways:
1. **Cashback**: Transform rewards into cashback credited to your Robinhood brokerage account.
2. **Travel**: Use points for travel purchases via Robinhood’s portal.
3. **Shopping**: Spend points at Robinhood’s partner merchants.
4. **Gift Cards**: Exchange points for gift cards from select retailers.
### Fees
One of the most appealing aspects of the **Robinhood Gold Card** is its **absence of significant fees**. Although a **Robinhood Gold subscription ($5 per month)** is required for application, the card itself carries:
– **No monthly or annual fees**.
– **No foreign transaction fees**.
– **No balance transfer or over-limit fees**.
Standard fees apply for actions like late payments, returned payments, and cash advances. Furthermore, there is **no welcome bonus** for new cardholders. However, the **Solid Gold referral program** provides an opportunity to earn a **10-karat solid-gold card** or a similar cash incentive by referring 10 friends.
### How to Begin
To apply for the **Robinhood Gold Card**, simply **join the waitlist** on Robinhood’s website by providing your email. You will also have the opportunity to refer friends and receive updates when the card is available.
A **soft credit check** is conducted during the pre-approval process, which does not affect your credit score. If you decide to proceed, a **hard credit inquiry** will be made, which might temporarily decrease your score.
Ensure you are an active **Robinhood Gold member** to qualify. Robinhood offers a **30-day free trial** for new Gold subscribers, but the credit card will not be accessible until the trial concludes.
### Advantages and Disadvantages
Similar to any credit card, the **Robinhood Gold Card** has its benefits and limitations. Here are some key pros and cons to consider:
#### Pros
– **No foreign transaction fee or annual fee**: The absence of significant fees makes this card an excellent choice for maximizing cashback.
– **No age restrictions for authorized users**: Children can be added to your account as authorized users to assist in building their credit.
– **Attractive cashback rate**: The 3% flat-rate on all purchases, along with no rotating categories, simplifies earning rewards. The 5% cashback on travel is an added perk.
#### Cons