Robinhood’s $695 Platinum Card Challenges AmEx’s $895 Fee as AmEx Adds MetLife, Mercedes-Benz Partnerships
Robinhood unveiled a $695-per-year invite-only Platinum card offering up to $3,000 in rewards—including 10% back on hotels and rental cars—and undercutting American Express’s $895 fee to attract younger high-income users. American Express also secured long-term partnerships with MetLife Stadium, Mercedes-Benz Stadium and NFL teams to expand its Venue Collection perks.
1. Robinhood Enters Super-Premium Card Segment
Robinhood’s $695 invite-only Platinum card undercuts American Express’s $895 fee while offering 10% cash back on hotels and rental cars, 5% back on dining and flights, unlimited airport lounge access and up to $3,000 in total annual rewards. The card is structured to drive customers into Robinhood’s brokerage and travel portal, posing a competitive risk to AmEx’s high-margin franchise.
2. American Express Expands Stadium Partnerships
American Express signed long-term deals as Official Payments Partner for MetLife Stadium, the New York Jets, New York Giants, Mercedes-Benz Stadium, Atlanta Falcons, Atlanta United and a forthcoming NWSL team. Eligible card members will receive presale ticket access, statement credits on qualifying concessions and other Venue Collection benefits at these venues starting this spring and into the upcoming NFL season.