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Robinhood To Launch New 3% Cash-Back Credit Card — What To Know

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Jarrod West
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Jarrod West

Senior Content Contributor

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Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in o...
Edited by: Stella Shon
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Stella Shon

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With a degree in media and journalism, Stella has been in the points and miles game for more than 6 years. She most recently worked as a Corporate Communications Analyst for JetBlue. Find her work in ...

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The popular investment platform Robinhood is entering the world of credit card rewards in a big way — with an industry-leading cash-back credit card.

While the card isn’t available for applications yet, it’s set to launch later this year. Let’s look at the details of the new card, which is likely a very compelling option that could put other card issuers on notice.

Robinhood Gold Card Offers 3% Cash-Back on All Purchases

When it comes to cash-back on the Robinhood Gold card, you’ll earn:

  • 5% cash-back on travel purchased through the Robinhood travel portal
  • 3% cash-back on all other purchases

While we don’t have any details yet on what the Robinhood travel portal will look like, earning an uncapped 3% cash-back on all purchases is outstanding. For comparison, most catch-all cash-back credit cards max out at 2% cash-back on all purchases.

In fact, the only card that comes close to that amount of cash-back is the Bank of America® Unlimited Cash Rewards credit card if you also happen to have Bank of American Preferred Rewards Platinum Honors status (which requires that you hold $100,000+ in assets in eligible Bank of America and Merrill Lynch accounts), which tops out at 2.625% cash-back on all purchases.

Hot Tip:

If you’re curious about what other options you have for cash-back cards, check out our complete guide to the best cash-back credit cards.

Robinhood Gold Card Details

Aside from its cash-back rewards, the Robinhood Gold card will come with the following benefits:

  • No annual fee (*requires a Robinhood Gold membership billed at $5 per month)
  • No foreign transaction fees
  • Trip interruption protection and rental car insurance coverage
  • Purchase security and return protection

As a Visa Signature card, the card will come with the full suite of perks you can expect from all other Visa Signature cards. Additionally, while the card is being marketed as a no-annual-fee card, it requires a Robinhood Gold membership to hold the card — which costs $5 per month.

Lastly, the metal credit card will weigh 17 grams and be made of stainless steel. Those who refer 10 people to the card will receive a limited edition 36-gram 10K gold card (worth ~$1,100), but this is limited to the first 5,000 people to do so.

Final Thoughts

If you are already a Robinhood Gold customer or are staunchly team cash-back, you will not find a credit card with a higher cash-back rate on all purchases than the Robinhood Gold card.

The card is set to launch later this year, but those who think it might be a good fit for them can register their interest by joining the waitlist on Robinhood’s website.

The information regarding the Bank of America® Unlimited Cash Rewards was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Robinhood Gold Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

Jarrod West's image

About Jarrod West

Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in outlets like The New York Times.

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