Robinhood continues to expand beyond its stock trading origins.
In brief:
- Launching a credit card with a host of perks, including three per cent cashback, The Robinhood Gold Card arrives eight months after the company bought credit card startup X1 for about $95mn in cash.
- Available to Robinhood Gold members, the card has no annual fee, no foreign transaction fees, and three per cent cash back on all categories; users get five per cent cashback when using the company's new travel portal.
- Cardholders can also create virtual cards for one-off purchases, add up to five family members and get insights into their spending via a dedicated app.
What does this mean?
New app, same Robinhood: The Robinhood Gold Card works with a new app designed to change how you shop, spend, and manage your money: the Robinhood Credit Card app. The app makes it easy to visualize your spending patterns, make better informed decisions, and stay in control of your finances with access to real-time spending insights so you can track expenses, set up recurring payments, and use other key features highlighted above. It also works seamlessly with the Robinhood app, meaning you can switch between both without having to remember multiple log-ins.
- Robinhood
