Users are reacting to Robinhood's Platinum Card launch and Gold Card hitting 1M users, with positive replies praising the milestones while negative users insult the CEO and dismiss the card as a joke with no bonus.
Pos
41.5%
Neg
58.5%
48 comments with sentiment.
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@vladtenev Congratulations! 🎉🚀
Excited to see the Robinhood ecosystem reaching new milestones.
The Robinhood114514 community is proud to be building alongside this incredible journey. ❤️🔥
Robinhood launched the Platinum Card, a direct competitor to the Chase Sapphire Reserve and Amex Plat, but built for a younger, more tech-forward customer, with benefits I'd actually use that easily cover for the $695 annual fee.
They have improved it significantly from what they announced a few months ago, and could be a great card for you.
but... I won’t be getting it, and will instead be sticking to my existing stack:
Chase Sapphire Reserve for Travel and Dining (4.5%+)
United Quest Card for United (Even if you don't use the card it pays for itself if you are a frequent flyer because you get more miles just for having the card)
Amazon Prime Visa - 5% on Amazon/WholeFoods
Robinhood Gold card for 3% cash back on everything else
That being said, the Platinum is a very competitive card. Highlights:
• 27g platinum-plated card (a negative for me! I want a lighter card tbh)
• 5% cash back on dining (up to $50k spend/year- this is the best differentiating feature)
• 5% on flights booked through Robinhood
• 10% on hotels and rental cars booked through Robinhood
• Up to $1,000/year in travel credits ($300 flights plus up to $700 on premium hotels, spread across semiannual credits)
• Function Health ($365), WHOOP ($239) and One Medical ($199) included - if you use these 3 it pays for itself!
• Priority Pass lounges, concierge, no foreign transaction fees and Global Entry/TSA PreCheck credit (all table stakes for premium cards)
• Robinhood Gold included ($50)
I think most people in my demographic can easily justify the $695 annual fee, you'll easily get >$1000 of value from the card before you spend anything. I also like that it's straight cash back instead of points, although it's fairly easy to get 1.5c of value from Amex and CSR points.
2 main reasons I don't want to upgrade from Gold to Platinum:
1) They only allow one credit card per account, and the Robinhood Gold makes more sense for me
I already have the Robinhood Gold Card, which is a fantastic flat 3% cash back card. Upgrading would mean giving up unlimited 3% cash back on almost everything and dropping to 1% outside dining and portal travel. If I could keep both cards, I would get the platinum because the benefits easily cover the annual fee for me.
2) The travel portal sucks - you only earn 5% on flights and 10% on hotels when booking through their portal.
I just looked up a hotel I recently booked on Booking for $972. It costs $1,496 in the Robinhood portal. Even after 10% cash back, I'd still be paying hundreds more. Also the UX on the portal leaves a lot to be desired.
Flight portals are also a pain when plans change, so I always prefer booking directly with airlines.
If you're choosing between this card and the Chase Sapphire Reserve, I think it's a legitimate competitor and probably the better fit for a lot of younger professionals.
If you already have the Robinhood Gold Card, though, I'd keep it. The loss of 3% everywhere outweighs the Platinum's incremental benefits for me.
Robinhood launched the Platinum Card, a direct competitor to the Chase Sapphire Reserve and Amex Plat, but built for a younger, more tech-forward customer, with benefits I'd actually use that easily cover for the $695 annual fee.
They have improved it significantly from what they announced a few months ago, and could be a great card for you.
but... I won’t be getting it, and will instead be sticking to my existing stack:
Chase Sapphire Reserve for Travel and Dining (4.5%+)
United Quest Card for United (Even if you don't use the card it pays for itself if you are a frequent flyer because you get more miles just for having the card)
Amazon Prime Visa - 5% on Amazon/WholeFoods
Robinhood Gold card for 3% cash back on everything else
That being said, the Platinum is a very competitive card. Highlights:
• 27g platinum-plated card (a negative for me! I want a lighter card tbh)
• 5% cash back on dining (up to $50k spend/year- this is the best differentiating feature)
• 5% on flights booked through Robinhood
• 10% on hotels and rental cars booked through Robinhood
• Up to $1,000/year in travel credits ($300 flights plus up to $700 on premium hotels, spread across semiannual credits)
• Function Health ($365), WHOOP ($239) and One Medical ($199) included - if you use these 3 it pays for itself!
• Priority Pass lounges, concierge, no foreign transaction fees and Global Entry/TSA PreCheck credit (all table stakes for premium cards)
• Robinhood Gold included ($50)
I think most people in my demographic can easily justify the $695 annual fee, you'll easily get >$1000 of value from the card before you spend anything. I also like that it's straight cash back instead of points, although it's fairly easy to get 1.5c of value from Amex and CSR points.
2 main reasons I don't want to upgrade from Gold to Platinum:
1) They only allow one credit card per account, and the Robinhood Gold makes more sense for me
I already have the Robinhood Gold Card, which is a fantastic flat 3% cash back card. Upgrading would mean giving up unlimited 3% cash back on almost everything and dropping to 1% outside dining and portal travel. If I could keep both cards, I would get the platinum because the benefits easily cover the annual fee for me.
2) The travel portal sucks - you only earn 5% on flights and 10% on hotels when booking through their portal.
I just looked up a hotel I recently booked on Booking for $972. It costs $1,496 in the Robinhood portal. Even after 10% cash back, I'd still be paying hundreds more. Also the UX on the portal leaves a lot to be desired.
Flight portals are also a pain when plans change, so I always prefer booking directly with airlines.
If you're choosing between this card and the Chase Sapphire Reserve, I think it's a legitimate competitor and probably the better fit for a lot of younger professionals.
If you already have the Robinhood Gold Card, though, I'd keep it. The loss of 3% everywhere outweighs the Platinum's incremental benefits for me.
@vladtenev We hit a mile stone of $4M worth of squeezing on the Robinhood blockchain! SQUEEZE SEASON!