New Invite-Only Credit Card Targets Premium Travelers and Active Investors
Robinhood (HOOD) is expanding its financial ecosystem with the launch of the Robinhood Platinum Card, a premium rewards credit card carrying a $695 annual fee and offering a range of high-end travel, lifestyle, and investment-focused benefits.
The card was introduced during the company’s “Robinhood Presents: Take Flight” event and represents one of several product updates aimed at deepening customer engagement. According to Deepak Rao, general manager and vice president of Robinhood Money, the new offering is designed to raise expectations for premium credit cards by combining elite rewards with exclusive perks.
Initially, the Robinhood Platinum Card will be available by invitation only, with select users receiving early access. Customers can request an invitation through the company’s platform.
The card offers a rewards structure focused heavily on travel and dining. Cardholders can earn 10% cash back on hotels and rental cars, 5% cash back on flights booked through the Robinhood app, and 5% cash back on dining purchases. All other purchases earn 1% cash back. Rewards can be redeemed into a Robinhood brokerage account, used for travel bookings through the platform, or applied to purchases with select merchants.
In addition to rewards, the Platinum Card includes a broad suite of annual benefits. These include complimentary Robinhood Gold membership, unlimited Priority Pass airport lounge access, $250 in annual DoorDash credits, $250 in autonomous ride credits, and memberships to services such as Amazon One Medical, Function Health, and Oura. Cardholders also receive a $200 annual credit for wearable health technology purchases.
Robinhood estimates the value of these perks could exceed $3,000 annually, though the actual benefit will depend on how frequently users take advantage of the services.
The Platinum Card complements the company’s existing Robinhood Gold Card, a no-annual-fee option focused on everyday spending rewards, further positioning Robinhood as a growing competitor in the premium credit card market.
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