The trading and financial services platform Robinhood has introduced a new premium credit card plated with real platinum, marking its latest effort to expand beyond retail trading and compete in the high-end credit card market.
The Robinhood Platinum Card carries an annual fee of $695 and is designed for affluent customers seeking premium travel, dining, and lifestyle benefits. The card is plated with 99.9% pure platinum and will initially be issued on an invite-only basis, with users able to request access through the company’s platform.
The new product sits at the top of Robinhood’s growing financial ecosystem, which already includes brokerage services, cash management, and its previously launched Gold credit card.
Robinhood says the Platinum card provides more than $3,000 in annual benefits through a combination of cashback rewards, credits, and membership perks.
Key features include:
-
5% cash back on dining and flights
-
10% cash back on hotels and rental cars booked through Robinhood’s travel platform
-
1% cash back on other purchases
-
Annual credits such as $250 for DoorDash, $250 for autonomous vehicle rides, and other travel-related benefits
-
Access to airport lounges and programs such as Global Entry or TSA PreCheck reimbursement
-
Complimentary memberships and lifestyle perks linked to health and wellness services
The card is issued by Coastal Community Bank and runs on the Visa network, while Robinhood manages the product through its financial services division.
Robinhood is targeting high-spending customers and long-time users whose financial needs have expanded beyond trading. According to the company, many early users who first joined the platform as beginner investors have matured financially, creating demand for broader banking and credit services.
The launch is part of a wider strategy to position Robinhood as a comprehensive financial platform, sometimes described as a “financial super-app,” that combines investing, banking, and payments within a single mobile ecosystem.
Robinhood’s move places it directly in competition with established premium credit cards issued by major banks. For example, the American Express Platinum Card and the JPMorgan Chase Chase Sapphire Reserve charge annual fees of roughly $895 and $795, respectively, while offering travel benefits, lounge access, and high-end rewards programs.
Luxury credit cards made from metal or precious materials are also not new in the industry. American Express pioneered heavy metal cards in the premium segment, while other examples include the Dubai First Royale Mastercard, which is rumored to include gold elements, and the Coutts Silk Card, historically associated with ultra-high-net-worth banking clients.
By launching a platinum-plated card, Robinhood is entering a competitive space where physical card design, exclusivity, and lifestyle rewards play an important role in attracting wealthy consumers.
Read more:
