Robinhood's New $695 "Actual" Platinum Card Is Quite The Coupon Book!

No transferrable points, no signup bonus? Pass

Definitely not compelling.

I'm curious how much this card costs though? A friend who works in that space had told me the metal cards out there right now (Amex Plat, Chase Sapphire Reserve) are in the $8-20 per card range which honestly blew my mind given the volume they are purchasing. It's partially materials, but partially speed of manufacturing because they require laser etching for name and numbers, which is far slower than the printing that normal cards use.

I know they get a great marketing halo from the metal cards, but it was one of those rare situations where something was far more expensive than I would have guessed. Especially since they allow you to replace them quite easily (and for trivial things like switching designs with Amex).

Just compare its earn rates to those of the Citi Strata Premier. You'll have your answer.

Not sure how you consider the 10% cash back on hotel bookings through their portal not so interesting?" That is fairly significant as I see it. if the portal offers all the Virtuoso/Prive/Luminous etc abilities it is basically giving the customer the commission instead of a travel planner.

What constitutes a "luxury hotel booking" (is this tied to a specific network and, if so, which one) and is there a list of the "over 1,500 restaurants" where one can used the dining credit (similar to my previous question)? I couldn't find this information in the description of plan benefits.

This is quite compelling, although not for readers of this site. Certainly is the for the free agent type. And since the AF can be paid out of your Robinhood account anyway, you won't feel the costs. A few small option plays will pay for it easy. The fatigue is certainly real, but for who this is marketed for, I'd bet they are not maximizing credit card and hotel/travel partner benefits at all anyway. They are not trying to maintain status at several hotels and airlines where the opportunity costs of switching to this would be high.

Robinhood Gold, travel and DoorDash credits are pretty much at face value. And 5% back on dining is great. True, if you are trying to maximize this with your Reserve and Amex Plat, airline card(s), hotel card(s), then it's fatiguing and will be hard to make it work.

It's a Robinhood card, not a travel rewards or cash back card.

Giving a lot of the commission back to the booker and offering Virtuoso like benefits would be game changing. Amex FHR and Chase Edit kind of do this with pre-paid stays as part of their top collection but that's only 5-8x back and the benefits are good but maybe not Virtuosos good depending on the hotel

I have their GOLD card which I use extensively for my business to get the 3% cash back on all categories. The fee is $5/mo billed as Robinhood GOLD. There are no other perks, but CASH IS KING! I recommend the card to basically anyone. Their platinum card is not compelling in the slightest

No. Hell no! And where is the RH gold card at? I’m not paying for subscription for years just to have chance. Or be forced to apply thru some backdoor/hack.

Can't wait for Pizza Hut to offer a $795 annual fee credit card with Priority Pass access and bonus points for using their travel portal.

I know many RH account holders, but of them I would consider zero of them to be financially savy. This card may be lucrative to some, but I'll pass on partnering with a company that in my mind essentially gamifies investing. When a legitimate investment advisor (like Vanguard) that actually looks out for their fundholders opens up a premium rewards CC, maybe I'll be interested.

I don't know about being beholden to RH's travel portal. Only travel portal I use is Amex, sometimes. But usually just book direct. Coupled with that annual fee, that's a no.

My thoughts exactly. I'll wait to see the details of course, but that alone could absolutely change the entire industry. As travel planners have been all now integrating self booking portals where you just book yourself and THEY get the commission in order to get any of the Virtuoso type credits, this essentially offers the same entry with that 10% coming to you instead. It could set off a race with some other cards also looking towards this. For someone like me, a small business owner that spends approximately 200 nights a year in hotels, it is far more valuable than transfer partners. Especially given the degradation of FF programs. With that, a lot to still learn about the terms.

@TravelinWilly ... Very Funny !

And if you ever need to sell some stock to pay off your statement, just pray that Robinhood hasn’t paused sales in order to protect the hedge funds.

They probably just use booking.com like most cc portals. Although even then I noticed higher prices occasionally than booking even though it's clearly the same engine(unless I use vpn). That's why I am very leary of portals. the only portal I like and have occasionally found better value (price & benefits) is amex.

Those Rh fookers cost me tens of thousands of dollars on that amc bs move a few years ago and I didn't even use that crappy platform. Luckily, I got my profits back 2 months later.

It would make a nice ice scrapper.

Very cool to be able to whip out your genuine Platinum and clear the windshield on your Ferrari.

Rich people drive a Range Rover in winter. The Ferrari(s) are in climate-controlled storage.