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Business Wars Daily

Can Robinhood's New Luxury Card Last?

Business Wars Daily

Wondery

News, Daily News, Business News, Business

4.6716 Ratings

🗓️ 9 April 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Today is Tuesday, April 9, and we're looking at Robinhood vs. Citi.

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Transcript

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0:00.0

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0:49.2

Thank you. From Wondry, I'm David Brown, and this is Business Wars Daily on this Tuesday, April night.

1:05.5

You know, if you buy and sell investments like stocks and bonds, you may know the popular investing app Robin Hood. Well, now the app best

1:13.2

known for commission-free stock trades is making headlines for another reason, a new credit card that

1:18.7

offers a whopping 3% cash back in rewards on all purchases and no annual fee. Getting the card

1:26.1

requires jumping through a few hoops. First, you have to be a member of Robin Hood's premium gold membership, which offers more perks like 5% interest on savings accounts. The card currently has a wait list of applicants, so you have to sign up and wait until you're invited to apply. As rewards cards go, 3% cash back across the board is rich. While certain

1:48.1

cards may offer higher rewards in certain categories or with certain brands, it's rare to see

1:52.7

such levels in every category, Forbes reports. But the card's luxurious features don't end there.

1:58.6

The standard version of the card is made of stainless steel and weighs a hefty 17 grams. Robin Hood Gold members who refer 10 friends who sign up for both

2:07.4

Robin Hood Gold and the wait list can receive a 10-carat gold card that weighs more than double

2:13.2

the standard card. The cashback is rewarded in points that are worth one cent each. You can redeem

2:19.4

rewards for everything from travel and shopping through Robin Hood portals to cash in your

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