Robinhood Unveils $695 Platinum Card with 99.9% Pure Platinum Plating
Robinhood launched a $695-per-year Platinum credit card plated in 99.9% pure platinum with an invite-only design and requestable access on its website. Cardholders earn cash back redeemable as statement credit or cash for reinvestment in Robinhood brokerage accounts, targeting existing platform users.
1. Robinhood Introduces $695 Platinum Card
Robinhood debuted a $695-per-year Platinum credit card plated in 99.9% pure platinum, available by invitation or request via its website. This launch marks the company’s strategic move into the premium credit-rewards segment long led by legacy issuers.
2. Cash Back Can Be Reinvested
The card offers unrestricted cash back on all purchases, which can be redeemed as statement credit or withdrawn as cash for direct reinvestment in Robinhood brokerage accounts. This mechanism is designed to increase platform engagement among its existing user base.
3. Undercutting Established Competitors
By setting its annual fee at $695 versus American Express’s $895, Robinhood aims to attract younger investors seeking value. The card’s long-term success will hinge on whether its rewards flexibility and benefits match or exceed those of established premium cards.