HomeInsurance GuideRobinhood’s New Strong-Gold Credit score Card Earns 3% Money Again – Forbes Advisor – Cyber Tech
Robinhood’s New Strong-Gold Credit score Card Earns 3% Money Again – Forbes Advisor – Cyber Tech
April 2, 2024
Robinhood’s New Strong-Gold Credit score Card Earns 3% Money Again – Forbes Advisor
Evan Coleman is an Updates Editor on the Credit score Playing cards and Journey Rewards group at Forbes Advisor, showcasing his curiosity in private finance and love of journey. He has written for a wide range of native information sources, faculty blogs and nonprofits on matters together with enterprise, arts and tradition and SEO. Evan is a graduate of the College of Rochester, the place he studied Enterprise and English: Language, Media and Communication.
Evan Coleman
Evan Coleman is an Updates Editor on the Credit score Playing cards and Journey Rewards group at Forbes Advisor, showcasing his curiosity in private finance and love of journey. He has written for a wide range of native information sources, faculty blogs and nonprofits on matters together with enterprise, arts and tradition and SEO. Evan is a graduate of the College of Rochester, the place he studied Enterprise and English: Language, Media and Communication.
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Robinhood has launched a waitlist for its first bank card, which is each heavy in weight and hefty in reward earnings.
The Robinhood Gold Card*, issued by Coastal Neighborhood Financial institution, will earn a powerful 3% money again on all purchases. Sure candidates may obtain a card fabricated from actual gold weighing a staggering 36 grams. Rounding out the cardboard’s perks are Visa Signature journey and buy protections, no international transaction charges and the power so as to add licensed customers of any age.
Nevertheless, there’s a loop to leap by: Though the cardboard expenses no annual price, it’s only obtainable to these holding a Robinhood Gold membership. This subscription plan prices $5 per 30 days, however this can be a nominal value alongside the membership’s choices and the cardboard’s options.
Discover the Greatest Credit score Playing cards for 2024
No single bank card is the best choice for each household, each buy or each funds. We have picked the most effective bank cards in a means designed to be probably the most useful to the widest number of readers.
Robinhood Gold Card Particulars
The standout characteristic of the Robinhood Gold Card* is its reward earnings. Cardholders will earn 5% cashback while you e-book journey by the Robinhood journey portal and three% cashback on different purchases. This minimal 3% money again on all purchases outshines the 1.5% to 2% money again sometimes discovered on the most effective cash-back bank cards.
For a card which may be a strong alternative for on a regular basis use, you could be wanting to know that it has an expensive look. The usual model of the cardboard is fabricated from stainless-steel and weighs 17 grams. Present Robinhood Gold members who refer 10 pals who join each the Robinhood Gold Card* waitlist after which Robinhood Gold can obtain a 10-karat gold card weighing 36 grams.
Fairly appears apart, what are the cardboard’s rewards value? The Robinhood Gold Card’s money again is rewarded within the type of factors, presently value 1 cent every, no matter your redemption. You need to use your factors within the following methods:
Convert your factors to money that’s transferred to your Robinhood Monetary Brokerage Account
Redeem your factors towards journey within the Robinhood Card journey portal
Store with factors by the buying portal within the Robinhood Credit score Card app
Redeem your factors for digital present playing cards
Different notable options of the Robinhood Gold Card* embody the next:
No annual price. Do not forget that the cardboard is simply obtainable to Robinhood Gold members, who should pay a month-to-month subscription price of $5.
No international transaction charges. This makes the cardboard a strong choice to rack up money again whereas touring overseas.
Add licensed customers of any age. Licensed customers will obtain their very own card, and the account holder can set spending limits and lock misplaced playing cards if wanted.
Journey and buy protections. As a Visa Signature card, the Robinhood Gold Card* consists of an auto rental collision harm waiver, journey interruption safety, journey and emergency help, roadside dispatch, prolonged guarantee safety, return safety and 0 legal responsibility safety.
How To Get the Robinhood Gold Card
In the event you want to apply for the Robinhood Gold Card, your first step is to hitch the waitlist by the Robinhood app or on the cardboard’s webpage. After you’re chosen to use, you’ll obtain an e-mail and push notification from the app with an invitation hyperlink to start out your software.
Those that presently maintain a Gold membership get precedence entry to get off the waitlist. Everybody else will obtain entry within the order they signed up.
What Does a Robinhood Gold Membership Embrace?
The Robinhood Gold Card* expenses no annual price however does require paying for a Robinhood Gold membership. The membership prices $5 per 30 days.
With a Gold membership, you’ll get the next perks on the investing platform:
1.50% APY (5.00% APY for Gold prospects) in your uninvested brokerage money (1.5% for nonmembers)
3% match on eligible contributions to your Robinhood IRA account (1% for nonmembers)
Entry to margin investing at 8% (12% for nonmembers)
Entry to skilled analysis from Morningstar and Stage 2 market information from Nasdaq
Backside Line
Robinhood’s new bank card marks a powerful push into the bank card area with its minimal 3% money again on all purchases. Those that have already got a Robinhood Gold membership may discover outsized worth within the card—that’s if the perks of the membership and card offset the $5 month-to-month price.
Discover The Greatest Money Again Credit score Playing cards Of 2024
*The knowledge for the next card(s) has been collected independently by Forbes Advisor: Robinhood Gold Card. The cardboard particulars on this web page haven’t been reviewed or offered by the cardboard issuer.
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Evan Coleman is an Updates Editor on the Credit score Playing cards and Journey Rewards group at Forbes Advisor, showcasing his curiosity in private finance and love of journey. He has written for a wide range of native information sources, faculty blogs and nonprofits on matters together with enterprise, arts and tradition and SEO. Evan is a graduate of the College of Rochester, the place he studied Enterprise and English: Language, Media and Communication.
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