Robinhood’s new Platinum Card is rolling out today on an invite-only basis, offering cardholders over $3,000 in annual value through a suite of travel, dining, and wellness benefits—all for a $695 annual fee that undercuts rival premium cards by up to $200.
The card, announced in March and refined based on customer feedback, features 99.9% pure platinum plating and credit limits up to five times higher than Robinhood’s Gold Card. It marks the fintech brokerage’s move into the ultra-premium credit card segment, a market dominated by American Express and Chase.
The benefits package is substantial. Cardholders receive $1,000 in annual travel credits—$700 for hotel stays of two consecutive nights or more booked through Robinhood, and $300 in flight credits paid in $150 increments every six months. The card also offers $250 in annual dining credits at over 15,000 eligible restaurants, $120 in monthly DoorDash promos with no minimum order, and a $250 annual credit for Waymo rides, issued monthly.
Beyond statement credits, the Platinum Card includes 5% cash back on dining and flights booked through Robinhood, 10% cash back on hotels and rental cars, and 1% on other purchases. Cardholders also get complimentary memberships to Robinhood Gold, Function Health (valued at $365 annually, including 160+ lab tests), and Amazon One Medical ($199 value). The card provides access to 1,400+ Priority Pass airport lounges, Global Entry or TSA PreCheck statement credits, and white-glove concierge support for travel disruptions and exclusive events.
The American Express Platinum Card, the market’s incumbent premium offering, carries a $895 annual fee and advertises over $3,500 in annual benefits. Robinhood’s pricing strategy positions the Platinum Card as a value alternative for high spenders who may not fully utilize Amex’s lounge access and airline partnerships. Chase’s Sapphire Reserve, another competitor, also markets around $3,000 in annual value at a comparable fee level.
Robinhood’s credit card business has grown significantly since the launch of the Gold Card, which now has over 1 million cardholders. The Platinum Card targets higher spenders and represents the company’s expansion into wealth management services. Invites are rolling out to an initial group of customers today, with plans to expand availability over the coming months. Customers who have not received an invite can request access through Robinhood’s website.
Sources
- Robinhood Newsroom — official launch announcement with full benefits breakdown and annual value calculation
- CNBC Select — American Express Platinum Card annual fee and benefits comparison
- NerdWallet — Robinhood Platinum Card benefits details and premium credit card landscape
- Wall Street Journal — Robinhood Platinum Card launch and competitive positioning
- Yahoo Finance — Robinhood Platinum Card rewards structure and annual credits
