Robinhood Unveils $695 Platinum Card with $3,000+ Rewards and Premium Perks
Robinhood is launching a $695-per-year invite-only Platinum card plated in 99.9% pure platinum, offering 10% cash back on hotels and rental cars, 5% back on dining and flights, and unlimited lounge access. The card undercuts Amex Platinum's $895 fee and bundles up to $3,000 in rewards to drive platform engagement.
1. Premium Card Launch
Robinhood Markets has introduced an invite-only Platinum card priced at $695 per year and plated in 99.9% pure platinum. The card was revealed at the company’s “Take Flight” keynote and is aimed at high-income consumers.
2. Rewards Structure and Fees
Cardholders earn 10% cash back on hotels and rental cars, 5% on dining and flights, and receive unlimited Priority Pass lounge access. Additional benefits include Oura Ring membership, Amazon One Medical, $250 in DoorDash credits, $500 in hotel credits, and a complimentary Robinhood Gold subscription.
3. Competitive Impact
With a lower annual fee than Amex Platinum’s $895 and Chase Sapphire Reserve’s $795, Robinhood targets premium card users while encouraging transactions within its ecosystem. Analysts view the launch as a strategic push into high-margin financial services and a potential challenge to established issuers.