Robinhood Unveils $695 Platinum Card and New Family Investing Accounts as Shares Fall 4%
Robinhood launched a $695 Platinum credit card with up to 5x higher limits, 5% dining cash back, $250 DoorDash credit, and unlimited Priority Pass lounge access. It also introduced family, custodial and trust accounts, yet shares slid 4% as technical indicators neared critical support near $70.
1. Platinum Card Launch
Robinhood launched the invite-only Platinum Card with a $695 annual fee and offers up to 5x higher credit limits than the Gold Card. Cardholders receive 5% cash back on dining, a $250 DoorDash credit with complimentary DashPass, Amazon One Medical membership, Function Health and ŌURA subscriptions, a $200 health wearable credit, 10% back on hotels and rentals, 5% on flights, and unlimited Priority Pass lounge access.
2. Family and Custodial Accounts
The new family hub lets users group accounts by household member with customizable viewing permissions, ranging from view-only to full trading authority. Custodial accounts are rolling out for minors with assets legally owned by the child, and trust accounts will follow later this year to support estate planning and wealth transfer.
3. Technical Chart Outlook
Shares slid 4%, trading within a tightening symmetrical triangle between $70–$75 support and descending resistance from the $155 peak. The Supertrend sits at $87.89 in bearish mode while the Parabolic SAR at $69.51 marks key support; a break below $70 could trigger a decline toward $60–$65, while resistance near $90–$95 caps upside.