Key Takeaways
- The Robinhood Gold Card is invite-only. I joined the waitlist in spring 2024 and simply obtained my supply final week.
- The cardboard pays an industry-leading 3% money again with no classes, limits, or international charges.
- A $50 annual Gold membership is required, however in contrast with a 2% money again card, the charge is recouped after simply $5,000 in yearly spending.
Most Money Again Playing cards Cease at 2%—This One Goes Larger
On-line brokerage platform Robinhood introduced in March 2024 that it could launch a Robinhood Gold bank card. However you couldn’t apply then—all you would do was be a part of a waitlist.
I did that in April 2024, primarily based on Robinhood’s promise of three% money again on all purchases. I observe the very best money again playing cards carefully, as I favor regular, versatile money again over rewards locked to journey. So once I noticed 3% with no classes or limits, my curiosity was piqued.
What I didn’t anticipate was to attend a 12 months and a half. My invite lastly arrived final week.
Nonetheless, it feels definitely worth the wait. Many playing cards supply 3%–6% money again on particular classes, both fastened or rotating over time, and sometimes with a month-to-month or quarterly spending cap. However flat-rate playing cards with out classes or limits typically prime out at 2%. That’s why a 3% no-category card stands out as one thing uncommon.
The Different 3% Card
One different card does supply 3% money again with no classes—Farmer’s Insurance coverage Federal Credit score Union’s Crystal Visa. However its enchantment is extra restricted: The annual charge jumps to $99 after 12 months one, whereas the speed drops to 2.5%, and earnings are capped to $10,000 in spending every month. You even have to hitch the credit score union with at the least a $5 deposit in a financial savings account.
No Overseas Charges Make This Card Even Extra Priceless
When you’ve traveled overseas, you understand the sting of international transaction charges—usually about 3% tacked on to each buy. These expenses add up quick, which is why seasoned vacationers hunt down playing cards with no international charges.
The Robinhood Gold Card delivers right here too: it expenses none. That units it other than standard 2% money again playing cards like Citi Double Money and Wells Fargo Lively Money, each of which cost a 3% charge on international transactions.
For me, the profit extends past journey. With a daughter finding out in Canada, each buy she makes with a licensed person card will earn 3% money again with no international transaction charge. On prime of that, I can put her tuition and housing prices on the cardboard, making the Robinhood Gold Card much more useful for our household.
Methods to Use Your Robinhood Money Again
You may redeem Robinhood Gold Card rewards in a wide range of methods, like reserving journey via the Robinhood portal, shopping for fuel, procuring at Amazon, or selecting reward playing cards. To show rewards into true money again, you’ll want a Robinhood brokerage account. Your rewards could be deposited there as money, the place you will be free to withdraw them if you happen to like.
A $50 Gold Membership Unlocks the Card—and Extra Advantages
Past its standout 3% money again and no international transaction charges, the Robinhood Gold Card affords just a few extra advantages. You’ll earn 5% money again if you e book journey via the Robinhood Journey portal. As a Visa Signature card, it additionally comes with added protections, together with auto rental protection, journey interruption insurance coverage, and buy safety.
To get the cardboard, you’ll want a Robinhood Gold membership, which runs $50 per 12 months (charged if you open the cardboard account). However that value isn’t only a hoop to leap via—it additionally brings perks for these with Robinhood funding accounts. Gold members earn the next rate of interest on uninvested money (at present 3.75%), obtain a 3% match on IRA contributions, and get entry to superior market knowledge to assist investing and buying and selling selections.
The Backside Line
With 3% limitless money again, no international charges, and Visa Signature perks, the Robinhood Gold Card is arguably the very best money again card in the marketplace—even with its $50 required Gold membership. And for these already paying for Robinhood Gold, including the cardboard is a straightforward choice—as quickly as you get off the waitlist.
