The Robinhood Credit Card is a great option for Robinhood Gold members who are fortunate enough to get off the waitlist and receive an invitation to apply. It's worth getting this card if you’re eligible because you can earn at least 3% back on purchases and there’s no annual fee. 

What I Like About the Robinhood Gold Card

3% back, at a minimum

This is an outstanding rewards rate, providing nearly three times more value than the average reward card will give you. Even the best rewards cards with a flat earning rate (one that’s the same on most, if not all, purchases) usually give just 2% back. So, it’s no surprise that this rewards rate is the Robinhood Gold Card’s main draw. 

To be clear, you’re technically earning 3 points / $1 spent, not pure cash back. However, these points are worth 1 cent each with certain redemption methods, including brokerage deposits, so it’s almost as good. 
 

No annual fee

With no membership fee to worry about, you won’t have to earn a certain amount in rewards just to break even each year you have this card. Plus, the amount this saves you compared to some other popular rewards cards ($95 to $800+) is kind of like an initial bonus in its own right. That said, the best flat-rate rewards cards often lack annual fees, too. 
 

No foreign transaction fees

You can use this card anywhere in the world that Visa is accepted, and not having to pay foreign transaction fees saves you 3% on every purchase processed outside of the U.S. Visa automatically provides low currency conversion rates, too, saving you even more. 
 

No minimum age for authorized users

Some credit cards require authorized users to be 13-18 years old. With no age requirement on the Robinhood Credit Card, you can get your kids started building credit as early as you want. 
 

Metal card

The basic version is made of stainless steel and weighs 17 grams. You could also get a heavier, solid gold card if you refer enough people to Robinhood Gold. Either way, it looks pretty cool. 

What I Don’t Like About the Robinhood Gold Card

High APR

If you carry a balance from month to month with this card, you’ll rack up interest at an annual rate of 29.99% (V). That’s way higher than average, according to WalletHub’s Credit Card Landscape Report. In fact, it’s nearly at store card level and almost insultingly high for a credit card with “Gold” in its name that requires good credit for approval. 

To avoid being among the rich that Robinhood steals from via high interest charges, make sure to pay your full statement balance by the due date every month. Interest won’t accrue if you do that. 
 

No initial bonus

A lot of rewards cards will give you hundreds of dollars in bonus rewards if you spend a certain amount within the first few months your account is open. For example, you could get $200 for spending $500 in three months or 75,000 points for spending $3,000 in the same timeframe. The Robinhood Credit Card does not offer such a bonus. 

If you’re interested in applying for a card with a big initial bonus, check out WalletHub’s picks for the best offers. 
 

Points aren’t always worth 1 cent

If you redeem your points for a statement credit or an Amazon purchase, you will receive less than 1 cent per 1 point in return. You’re better off redeeming for a Robinhood brokerage contribution, gift cards or travel. Those options won’t suit everyone’s needs, though. 
 

Not easy to get 

The Robinhood Credit Card requires excellent credit. With that in mind, we suggest applying if your credit score is 750 or higher. That should give you good odds of getting approved. If you’re not sure what your credit score is right now, you can check it for free right here on WalletHub and get daily updates. 

If that was your only obstacle to getting this card, it wouldn’t be so bad. But there’s more. You also need to be a Robinhood Gold member to be eligible, and that costs $5 per month. On top of that, even once you join Robinhood Gold, you have to reserve your spot to potentially get an invitation to apply at some point. That adds a ton of uncertainty to the process. 

If you don’t want to deal with all the steps required to get the Robinhood Credit Card, or you don’t end up getting approved, you can check out our editors’ picks for the best credit cards overall. You’re sure to find a great fit that can save you a lot of money!