### Robinhood Gold Card: A Fresh Credit Card for 2024
Robinhood has unveiled its inaugural credit card, the **Robinhood Gold Card**, anticipated to debut in 2024. Crafted to provide a robust cashback program, featuring enhanced rewards on travel, this card could be an excellent option—particularly for current **Robinhood Gold members**.
The Gold Card is a **17-gram stainless steel Visa Signature card**, issued by **Coastal Community Bank** (FDIC member). You can **sign up for the waitlist now** ahead of the official launch later this year.
Below, we outline the main features, perks, fees, and rewards structure to assist you in determining if the **Robinhood Gold Card** is a valuable addition to your finances.
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## **Robinhood Gold Card Summary**
### **Core Details**
– **Cashback:** 3% on all spending categories
– **Bonus Rewards:** 5% on travel purchased through Robinhood
– **APR:** 19.99% – 29.99%
– **Annual Fee:** None (requires Robinhood Gold subscription, $5/month)
– **Welcome Bonus:** None
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## **Prominent Features**
The **Robinhood Gold Card** provides a flat **3% cashback on all transactions**, along with **5% back** on travel reservations made through Robinhood’s platform.
Additional highlights include:
– **Family Member Additions:** No age limits for authorized users, enabling younger individuals to start establishing credit. You can oversee spending, impose limits, and lock/unlock cards.
– **Virtual Cards:** Create **one-time-use virtual card numbers** for enhanced security during online purchases.
– **Travel Benefits:** Features trip interruption coverage, Visa Signature concierge services, and assistance for emergency travel.
– **Purchase Protection:** Offers **extended warranty, return protection, and zero liability coverage**.
– **Rental Car Advantages:** Includes a **collision damage waiver** and **Roadside Dispatch**.
– **Integration with Robinhood:** Cashback rewards can be **transferred to your Robinhood brokerage account** for investment or saving purposes.
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## **Rewards & How to Use Them**
The **Robinhood Gold Card** provides flexible reward options:
1. **Brokerage Cashback:** While you can’t withdraw rewards directly, you can **deposit them into your Robinhood brokerage account** for investing or earning interest.
2. **Travel Redemptions:** Redeem points for travel purchases through Robinhood’s **travel portal**.
3. **Shopping Portal:** Utilize rewards for purchases from **Robinhood’s partner merchants**.
4. **Gift Cards:** Swap your cashback for **gift cards** at select retailers.
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## **Fees & Charges**
One of the primary benefits of the **Robinhood Gold Card** is its **absence of common fees**:
– **No annual fee** (Gold membership needed)
– **No foreign transaction fees**
– **No balance transfer or overlimit fees**
However, **standard industry fees** apply for **late payments, returned payments, and cash advances**.
**Note:** There is **no welcome bonus**, but **Robinhood’s Solid Gold referral program** enables users to **earn a 10-karat gold card or cash bonus** by making 10 qualifying referrals.
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## **Application Process**
You can **join the waitlist** by providing your email on the **Robinhood website**. When it becomes available, you will receive a notification to proceed with your application.
Robinhood performs a **soft credit pull** initially, meaning checking your eligibility will **not impact your credit score**. However, once you **accept the offer**, a **hard credit inquiry** will take place, which may lead to a slight decrease in your score.
### **Eligibility Requirements:**
– You **must be a Robinhood Gold member** to apply.
– **New users** need to **complete their 30-day free trial** before applying.
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## **Advantages & Disadvantages**
### ✅ **Advantages:**
✔ **No foreign transaction fee** – Perfect for those traveling abroad.
✔ **No age limits for authorized users** – A valuable resource for aiding kids in building credit.
✔ **Flat 3% cashback on every purchase** – No complicated categories or spending limits.
✔ **5% back on travel** – Increased rewards for those who often travel.
### ❌ **Disadvantages:**
✘ **Gold subscription necessary** – At $5/month, it might not be justifiable for every user.
✘ **No direct cashback withdrawal** – Cashback has to be transferred to a Robinhood brokerage account prior to usage.
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## **Ideal Candidates for the Robinhood Gold Card**
This card is **most suitable for current Robinhood Gold members** or **individuals contemplating upgrading to Gold**. If you already rely on Robinhood for investments, the **cashback rewards and**