**Robinhood’s Inaugural Credit Card: An In-Depth Review of the Robinhood Gold Card**
In 2024, Robinhood unveiled its **first-ever credit card**, the [Robinhood Gold Card](https://newsroom.aboutrobinhood.com/the-new-gold-standard-introducing-the-robinhood-gold-card/). Crafted from stainless steel and issued by Coastal Community Bank (an FDIC member), this Visa Signature card provides a flat cashback rate along with significant rewards for travel-related purchases. If you are currently a Robinhood Gold member, this card may prove to be a beneficial addition to your financial toolkit.
### Main Features of the Robinhood Gold Card
Here’s a brief summary of the key features of the Robinhood Gold Card:
– **Rewards rate:** 3% cashback on all purchases
– **Bonus rewards rate:** 5% cashback on travel reservations made via Robinhood
– **APR:** 19.99% – 29.99%
– **Annual fee:** None, but a Robinhood Gold subscription is necessary ($5/month)
– **Welcome bonus:** None
The card is anticipated to be released later this year, but you can join the waitlist now to secure your position.
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### Card Attributes
The Robinhood Gold Card differentiates itself by providing **3% cashback on all purchases** and **5% cashback on travel** through Robinhood’s travel platform. Additionally, there are several noteworthy features:
– **Family benefits:** There are no age limitations for adding authorized users, allowing children to begin building their credit early. You can also track spending, set restrictions, and lock the card.
– **Virtual cards:** For added security during online transactions, create virtual cards with temporary numbers.
– **Travel benefits:** Offers trip interruption protection, Visa Signature concierge service, and emergency travel assistance.
– **Purchase protection:** Take advantage of benefits like purchase security, extended warranties, return protection, and zero liability.
– **Vehicle assistance:** Cardholders receive access to a car rental collision damage waiver and Roadside Dispatch.
– **Robinhood integration:** Effortlessly manage your card through the Robinhood app, transferring earned rewards directly into your Robinhood brokerage account.
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### Rewards Program
The **Robinhood Gold Card** provides **3% cashback on everyday spending** and **5% on travel-related purchases through Robinhood**. You can redeem your rewards in a variety of ways:
1. **Cashback rewards:** Move cashback to your Robinhood brokerage account to invest or accrue interest.
2. **Travel portal:** Use points for travel arrangements via Robinhood.
3. **Shopping portal:** Apply cashback rewards for purchases with partnered retailers.
4. **Gift cards:** Exchange points for gift cards from selected merchants.
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### Fees
One of the most appealing aspects of the **Robinhood Gold Card** is its minimal fee framework. Although there is no annual fee for the card, a **Robinhood Gold subscription** ($5/month) is obligatory. Moreover, you will not incur foreign transaction fees, balance transfer fees, or overlimit fees.
Normal fees apply for late payments, returned payments, and cash advances. Additionally, it’s important to be aware that there is **no welcome bonus** associated with this card, though a referral program is available, detailed below.
#### Referral Bonus
Robinhood has introduced an ongoing **Solid Gold referral program**. If you join the waitlist and refer 10 friends who sign up, you’ll earn either a **10-karat gold card** or an equivalent cash reward.
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### How to Get Started
You can **[join the waitlist](https://go.millennialmoney.com/robinhood-gold/?pd00=45558&pd02=content&aff_slug=robinhood-gold)** for the Robinhood Gold Credit Card by providing your email on the Robinhood website. When the card becomes available, you’ll be notified and can apply.
– **Pre-approval:** Robinhood allows you to check for pre-approval without impacting your credit score, but accepting the offer will result in a hard credit inquiry.
– **Membership requirement:** Remember, you’ll need to be a paying member of **Robinhood Gold** (which includes a 30-day free trial), but your card subscription will begin only after the free trial concludes.
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### Advantages and Disadvantages
Here’s a breakdown of the key advantages and disadvantages to help you determine whether the **Robinhood Gold Card** is suitable for you.
#### Advantages:
– **No foreign transaction or annual fees** – Maximize your rewards by steering clear of common credit card fees.
– **No age restrictions for authorized users** – Assist your children in starting their credit journey early.
– **Flat-rate rewards** – Benefit from a steady cashback rate across all categories of spending, with higher rewards for travel.
#### Disadvantages:
– **Robinhood Gold subscription necessary** – To qualify for the card, you must pay $5/month for Robinhood Gold, which may diminish your overall cashback earnings.