Why I Joined the Robinhood Platinum Card Waitlist

I already have a couple of premium travel cards in my wallet that offer extensive benefits, including airport lounge access, hotel credits, expedited security credits, travel protections, and transferable rewards. When Robinhood announced a new $695 premium credit card, I wasn’t interested, since my other cards already cover my travel needs.

But the Robinhood Platinum credit card doesn’t compete on travel alone. I found that some of its most distinctive benefits are tied to wellness and finance, categories where my other premium cards don’t offer much value.

That was enough for me to change my mind and join the waitlist. While I’m not sure I’ll ultimately apply, the potential value of a Function Health membership, an Amazon One Medical membership, wearable credit, and a Robinhood Gold IRA match has made me take a closer look.

Robinhood Platinum Card Overview

The Robinhood Platinum card is an invite-only premium credit card with a $695 annual fee. It earns 10% back on hotels and rental cars booked through Robinhood Travel, 5% on dining, 5% on flights booked through Robinhood Travel, and 1% on all other purchases.

It offers benefits worth more than $3,000 annually, including:

• $250 annual DoorDash discount
• Complimentary DashPass membership (worth $120)
• $250 annual credit at participating restaurants
• $500 annual hotel credit ($250 statement credit every 6 months; 2-night minimum)
• $300 annual travel credit ($150 every 6 months)
• $365 Function Health membership credit
• $199 Amazon One Medical membership credit
• $270 annual credit toward qualifying wearables
• $250 annual credit on autonomous rides
• Global Entry or TSA PreCheck credit
• Priority Pass Select membership

Robinhood Platinum cardmembers also get a complimentary Robinhood Gold membership (worth $60 annually). A Robinhood Gold membership offers benefits including:

• High-yield annual percentage yield on eligible brokerage cash
• 3% match on IRA contributions (up to $225)
• Instant deposits that allow for trading up to 3x your portfolio value
• Lower fees on select investment products and services

Benefits That Convinced Me To Join the Waitlist

At first glance, the Robinhood Platinum card’s benefits look similar to those of other premium cards, including DoorDash DashPass membership, hotel credits, airport lounge access, and more. But I’m interested in features that set it apart from other premium cards.

Wellness Benefits

The Function Health membership is the most valuable wellness credit, worth $365 annually. This health membership offers more than 160 lab tests every 6 months, a $200 credit on an annual MRI (usually $999), and discounts on additional testing.

Function offers a broader range of tests than a typical clinic checkup, plus a personalized action plan with no insurance required — a valuable benefit for health metrics and preventive care.

Another major wellness benefit of the Robinhood Platinum card is the annual credit for an Amazon One Medical membership, which typically costs $199 without a Prime membership. The primary benefit of the Amazon One Medical membership is on-demand virtual care, which offers video chat or text consultations with a doctor with no copay or per-visit fees. Virtual doctors can offer diagnoses, order labs, and write prescriptions

The membership doesn’t cover in-person visits, but it’s useful if you only need a virtual visit or want to do a virtual visit first to see if you need to head into the clinic.

The Robinhood Platinum card also offers an annual health wearables statement credit of up to $270. That could cover an Oura Ring, a Pixel Watch, a Fitbit, an Apple Watch, a Whoop, or another qualifying wearable. I like that it’s flexible, so you’re not locked into a particular wearable platform.

Lifestyle Benefits

The $250 annual dining credit includes a $20 monthly credit at more than 15,000 participating local restaurants, plus an extra $10 in December ($30 total). The card also offers a DoorDash DashPass membership and up to $250 in annual DoorDash credits in $10 increments (2 $10 discounts each month and an extra $10 discount in January). Since this benefit requires a $50 minimum order each time, it isn’t likely to save me money.

An intriguing benefit is up to $250 in annual credits for autonomous rides. I often travel to cities where these rides are available, so I could get some value here. It applies as a $20 monthly credit with an extra $10 in December.

Travel Benefits

The Robinhood Platinum card’s travel benefits are good, but they don’t really offer more than what’s available with other premium cards. I like that it offers up to $300 in flexible travel credit ($150 every 6 months) that can be applied to flights, hotels, ride-sharing, or other travel-related purchases. And, it doesn’t require using a travel portal to get the credit.

The up to $500 in annual hotel credits ($250 every 6 months) could be helpful, though I’d want to see how easily I could use the credit before I consider it a valuable benefit. Hotel credit bookings must be made through Robinhood’s travel platform and require a 2-night minimum.

Robinhood Gold

Although Robinhood Gold membership only costs $5 per month ($60 per year), the complimentary membership that comes with the Robinhood Platinum card could be valuable. The high-yield cash APY is competitive with other savings and brokerage cash accounts, but the 3% IRA match is what really caught my eye. If I fully funded a Robinhood IRA each year, I’d receive an extra $225 in matching funds.

Bottom Line:

I’m skeptical that the hotel and DoorDash benefits would offer real value to me, but the wellness, lifestyle, and finance benefits alone could add up to more than $1,200 in value and easily offset the card’s $695 annual fee.

How the Robinhood Platinum Card Compares to Other Cards

The Robinhood Platinum card is positioned to compete with other premium credit cards, including the Platinum Card^® from American Express and Chase Sapphire Reserve^®. It has a lower annual fee than both cards, though it’s higher than the Capital One Venture X Rewards Credit Card.

I have the Amex Platinum card and Capital One Venture X card, and I downgraded my Chase Sapphire Reserve card earlier this year. I’m curious whether the Robinhood Platinum card offers enough value to compete.

Robinhood Platinum Card vs. Amex Platinum Card

It’s clear that the Robinhood Platinum card mimics the Amex Platinum card.

BEST LOUNGE CARD

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Platinum Card^® from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Amex Platinum card reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and elite status.

Apply Now(at Amex's secure site)

Apply With Confidence

Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

Platinum Card^® from American Express

The Amex Platinum card reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and elite status.

Welcome Offer

You may be eligible for as high as 175,000 Membership Rewards^® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary, and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount — all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.

As High as 175,000 Points. Find Out Your Offer.

UP's Offer Valuation*:

Up to $3,850

Annual Fee

$895

APR

See Pay Over Time APR

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

When it comes to cards that offer top-notch benefits, the Platinum Card^® from American Express is a top choice.

The card offers premium perks like best-in-class airport lounge access, hotel elite status, and several annual card credits. The Amex Platinum card is easily worth the annual fee for frequent travelers who use the lounges and travel credits, and hard to justify for those who won’t.

Pros & Cons

Pros

• The best airport lounge access out of any card (by far): Get access to over 1,550 worldwide lounges, including Amex Centurion Lounges, Priority Pass lounges (enrollment required), Plaza Premium Lounges, and many more!
• 5 points per $1 spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• 5 points per $1 spent on prepaid hotels booked with AmexTravel.com

Cons

• $895 annual fee (rates & fees)
• Airline credit does not cover airfare (only incidentals like checked bags).

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Card Highlights

• You may be eligible for as high as 175,000 Membership Rewards^® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
• Get more for your travels with 5X Membership Rewards^® points on all flights and prepaid hotel bookings through American Express Travel^®, including Fine Hotels + Resorts^® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel^® on up to $500,000 on these purchases per calendar year.
• With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection, over $850 of annual value, with access to Centurion Lounges, 10 Delta Sky Club visits (subject to visit limitations) when flying on an eligible Delta flight, Priority Pass™ membership (enrollment required), and other select partner lounges. *As of 01/2026
• $200 Uber Cash + $120 Uber One Credit: With the Platinum Card^® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card^® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card^® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card^® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.
• $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts^® or The Hotel Collection* bookings through American Express Travel^® using the Platinum Card^®. *The Hotel Collection requires a minimum two-night stay.
• $400 Resy Credit + Platinum Nights™ by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card^® to pay for eligible purchases with Resy, including dining purchases at over 10,000 qualifying U.S. Resy restaurants. Enrollment required. As a Platinum Card^® Member you have special access to reservations on select nights at participating sought after Resy restaurants in select cities through Platinum Nights™ by Resy. Simply add your Platinum Card^® to your Resy profile to book your reservation.
• $219 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $219 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card^®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card^® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
• Start your vacation sooner and keep it going longer. When you book Fine Hotels + Resorts^® through American Express Travel^®, enjoy noon check-in, when available, and guaranteed 4PM late check-out.
• $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card^® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
• $155 Walmart+ Credit: Get up to a $12.95* statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Platinum Card^®. *Up to $12.95 plus applicable taxes on one membership fee.
• Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
• $895 annual fee.
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

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American Express Membership Rewards

The $695 annual fee is the same as the Amex Platinum card’s annual fee before its 2025 refresh, and the Robinhood Platinum card marketing pokes fun at other platinum cards by noting that this one has 99.9% platinum plating.

The Robinhood Platinum card wouldn’t replace my Amex Platinum card, but it could add benefits I don’t already have. There’s some overlap in expedited security and lounge access, but the Amex Platinum card is a stronger lifestyle and travel card, with broader lounge access, an annual airline fee credit, hotel benefits through Fine Hotels + Resorts and The Hotel Collection, strong airline earnings, and Membership Rewards transfer partners.

But the Robinhood Platinum card offers wellness membership credits that the Amex Platinum card doesn’t, and it offers a more flexible wearable credit than the Amex Platinum card’s Oura Ring credit.

Robinhood Platinum Card vs. Chase Sapphire Reserve Card

I downgraded my Chase Sapphire Reserve card earlier this year because I wasn’t getting enough value from it. The biggest reason was overlapping benefits, as some of its most valuable benefits (airport lounge access, hotel credit, and expedited security fee credit) were duplicated by my Amex Platinum card and Capital One Venture X card.

Terms Apply / Rates & Fees

Chase Sapphire Reserve^®

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Apply Now(at Chase's secure site)

Chase Sapphire Reserve^®

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Welcome Offer

Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.

100,000 points

UP's Offer Valuation*:

$2,000

Annual Fee

$795

APR

19.49% - 27.99% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Excellent

Why We Like This Card

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve^® is one of the best options.

The card combines elite travel benefits and perks like worldwide airport lounge access, with excellent point earning and redemption options. Plus, it offers top-notch travel insurance protections to cover you at home or on the road.

Don’t forget the more than $2,000 in annual credits, which can offset the annual fee!

Pros & Cons

Pros

• 8x points on all Chase Travel purchases
• 5x points on Lyft rides
• 4x points on flights and hotels booked directly

Cons

• $795 annual fee

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Card Highlights

• Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
• Get $3,000 in annual value with Sapphire Reserve.
• Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge^® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck^® every 4 years
• Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
• Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $288 annually.
• Member FDIC

Financial Snapshot

• APR: 19.49% - 27.99% Variable
• Foreign Transaction Fees: None

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Chase Ultimate Rewards

Although I no longer find it valuable, the Chase Sapphire Reserve card is overall a better value than the Robinhood Platinum card, with a flexible $300 travel credit, Chase Ultimate Rewards transfer partners, and strong travel protections. But the Robinhood Platinum card’s unique benefits fill wellness and lifestyle gaps that the Chase Sapphire Reserve card doesn’t cover.

Robinhood Platinum Card vs. Capital One Venture X Card

The Capital One Venture X card has a $395 annual fee, which is lower than the $695 annual fee of the Robinhood Platinum card, but it offers similar benefits. Both earn elevated rewards through their travel portals, including Priority Pass lounge access and a Global Entry or TSA PreCheck credit, and both have a $300 annual travel credit.

Capital One Venture X Rewards Credit Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.

Capital One Venture X Rewards Credit Card

The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.

Welcome Offer

Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.

75,000 miles

UP's Offer Valuation*:

$1,350

Annual Fee

$395

APR

Purchases: 19.49% - 28.49% (Variable)

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Excellent

Why We Like This Card

The Capital One Venture X Rewards Credit Card is the premium Capital One travel rewards card on the block.

Points and miles fans will be surprised to see that the Capital One Venture X card packs quite the punch when it comes to bookings made through Capital One, all while offering the lowest annual fee among premium credit cards.

Depending on your travel goals and preferences, the Capital One Venture X card could very well end up being your go-to card in your wallet.

Pros & Cons

Pros

• 10x miles per $1 on hotels and rental cars purchased through Capital One Travel
• 5x miles per $1 on flights and vacation rentals purchased through Capital One Travel
• 2x miles per $1 on all other purchases

Cons

• $395 annual fee
• Does not offer bonus categories for flights or hotel purchases made directly with the airline or hotel group, the preferred booking method for those looking to earn elite status

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Card Highlights

• Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
• Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
• Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
• Earn unlimited 2X miles on all other purchases
• Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge and Landing locations and participating Priority Pass™ lounges, after enrollment
• Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
• Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
• Receive up to a $120 credit for Global Entry or TSA PreCheck^®
• Top rated mobile app

Financial Snapshot

• APR: Purchases: 19.49% - 28.49% (Variable)
• Foreign Transaction Fees: None

Rewards Center

Capital One Miles

The Capital One Venture X card also earns 10,000 anniversary miles worth $100 in travel. It has fewer statement credits than the Robinhood Platinum card, but it’s a more straightforward travel rewards card with clear value to offset its annual fee. These cards could complement each other.

Where the Robinhood Platinum Card Falls Short

The Robinhood Platinum card doesn’t appear to offer some of the most valuable features of the Amex Platinum card, Chase Sapphire Reserve card, and Capital One Venture X card: transferable rewards and travel protection benefits. It’s tough to put a numerical value on these benefits like you can with statement credits, but they can make a big difference.

The ability to transfer rewards to travel partners makes every point or mile more valuable because the redemption value is higher. So even if I earn 5% back on dining with the Robinhood Platinum card, earning 3x points on dining with the Chase Sapphire Reserve card offers greater value when I redeem points with travel partners. We value Chase Ultimate Rewards points at about 2 cents per point (effectively a 6% return).

Another glaring omission is the Robinhood Platinum card’s apparent lack of travel protection benefits. The Amex Platinum card, Chase Sapphire Reserve card, and Capital One Venture X card offer travel insurance, including trip cancellation and interruption coverage, rental car insurance, trip delay reimbursement, and lost luggage reimbursement. The Amex Platinum card and Chase Sapphire Reserve card can even help with emergency evacuation and transportation.

Why I’m Still on the Fence

I was intrigued enough by the Robinhood Platinum card to get on the waitlist, but actually applying is another story. The card’s main appeal is its benefits, and with my other cards, I have overlapping lounge access, Global Entry or TSA PreCheck credits, and hotel credits. The DoorDash credit isn’t especially compelling, and it’s unclear how helpful the hotel credit might be.

I want to know more about the practical details before I consider the advertised value real. Are the restaurants and hotels places I actually want to visit, and how easy is it to use those credits? The card could be worthwhile, but only if I can use its benefits without creating extra spending or significantly changing my travel plans.

I wouldn’t use the Robinhood Platinum card for everyday spending — it would primarily be a benefits card. The 1% back on general purchases isn’t competitive with current cards that earn 2x miles or 2% cash-back as a baseline. I’d likely only use it for certain dining, some Robinhood Travel bookings, and purchases tied to credits.

Final Thoughts

Though I had reservations, I joined the Robinhood Platinum card waitlist for its unique benefits, including Function Health, Amazon One Medical, a wearable credit, and Robinhood Gold’s IRA match. While it wouldn’t replace my Amex Platinum card or Capital One Venture X card, it could offer benefits that those cards don’t. And the benefits I value could bring in more than $1,200 — not bad for a card with a $695 annual fee.

Joining the waitlist cost me nothing, and applying for the card will depend on whether the terms, hotel pricing, eligible restaurants, and credit rules will make the card’s value worthwhile.