**Robinhood Gold Card: An In-Depth Analysis**
Robinhood is launching its inaugural credit card, the **Robinhood Gold Card**, anticipated to debut in 2024. With a flat cashback rate on every purchase and additional rewards for travel expenses, this card is especially attractive for current **Robinhood Gold** subscribers.
If interested, you can **sign up for the waitlist** now. This **Visa Signature card** is made from **17 grams of stainless steel** and is issued by **Coastal Community Bank (FDIC member).**
Below, we examine the card’s attributes, rewards, fees, and eligibility criteria to assist you in determining if it aligns with your needs.
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### **Robinhood Gold Card Summary**
**Essential information:**
– **Rewards Rate:** 3% across all categories
– **Bonus Rate:** 5% on travel transactions made through Robinhood
– **APR:** 19.99% – 29.99%
– **Annual Fee:** None (Requires a $5/month Robinhood Gold subscription)
– **Welcome Bonus:** None
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### **Highlighted Features**
A prominent advantage of the Robinhood Gold Card is its **flat 3% cashback on every purchase**, alongside **5% cashback on travel reservations** made through Robinhood’s travel platform.
Other attributes include:
– **Family-Friendly Options:** No age limits for authorized users—support your children in building credit while managing spending, setting limits, and locking cards.
– **Virtual Cards:** Utilize disposable virtual cards for greater security during online transactions.
– **Travel Advantages:** Gain access to **trip protection, emergency assistance, and Visa Signature concierge services**.
– **Purchase Protection:** Features include **zero liability coverage, extended warranty protection, and return security**.
– **Vehicle Assistance:** Available **roadside dispatch and car rental collision coverage**.
– **Robinhood Integration:** Effortlessly oversee rewards and transfer them to your Robinhood investing account.
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### **Understanding Rewards**
The **Robinhood Gold Card provides a flat 3% cashback** on every purchase, with travel booked through Robinhood earning **5% back**.
Rewards can be redeemed via:
1. **Robinhood Brokerage Account:** Apply rewards as cashback in your brokerage account, where you can **invest or earn interest** on uninvested cash.
2. **Travel Portal:** Utilize points for travel arrangements through Robinhood.
3. **Shopping Portal:** Use points for purchases from Robinhood’s partner retailers.
4. **Gift Cards:** Convert rewards into gift cards from selected vendors.
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### **Fees**
A significant **benefit** of the Robinhood Gold Card is its **absence of standard fees**:
✅ **No annual fee** (requires a Robinhood Gold subscription)
✅ **No foreign transaction fees**
✅ **No balance transfer fees**
✅ **No over-limit fees**
Nonetheless, **late payments, cash advances, and returned payments** could result in standard charges.
Additionally, **there is no welcome bonus**, unlike certain other premium cashback credit cards. Still, Robinhood offers a **Solid Gold Referral Program**—if you refer **10 eligible friends**, you may receive a **10-karat solid gold card or a comparable cash reward**.
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### **Applying for the Card**
To obtain the Robinhood Gold Card, **you must hold a paid Robinhood Gold subscription** ($5/month). Here’s how to initiate the process:
1. **Join the waitlist** by submitting your email on the Robinhood site.
2. **Refer friends** to gain referral benefits.
3. **Check eligibility** without affecting your credit score—upon accepting the card offer, a **hard credit inquiry** will be conducted.
4. **You cannot apply during your Robinhood Gold free trial**; only paying subscribers are eligible.
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### **Advantages & Disadvantages**
#### **Advantages** ✅
✔ **No foreign transaction or annual fee** (if you’re already subscribed to Robinhood Gold)
✔ **Excellent cashback rate** across **all** spending categories with added travel rewards
✔ **No age restrictions for authorized users**, making it a favorable option for families
#### **Disadvantages** ❌
✖ **Requires a Robinhood Gold membership**—not genuinely “free”
✖ **Limited cashback redemption options**—you must **transfer rewards to your Robinhood account** before cash withdrawal
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### **Ideal Candidates for the Robinhood Gold Card**
This card is **most suitable for current Robinhood investors**, particularly those already subscribing to **Robinhood Gold** or contemplating an upgrade.
If you utilize another **investment platform** or seek a card with **immediate cash redemption**, other cashback card alternatives may be worth considering. However, for Robinhood users who