Business Wars Daily Can Robinhood's New Luxury Card Last?
Apr 9, 2024
Delving into Robinhood's new luxury credit card, offering 3% cash back to premium members, comparing it to other rewards cards, and questioning its long-term viability in the market.
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Robinhood's New Credit Card
- Robinhood, known for commission-free trades, launched a credit card with 3% cash back.
- This card requires premium Gold membership and has a waitlist.
Luxury Features
- The card has a waitlist and a luxurious design, made of stainless steel.
- A heavier, 10-carat gold version is available for Gold members who refer 10 friends.
Cash Back Comparison
- Robinhood's 3% cash back is high compared to Citi Double Cash Card's 2%.
- Both cards have no annual fee and reward points worth one cent each.