Robinhood unveiled the Robinhood Platinum Card on March 4, 2026, a $695-per-year Visa credit card plated in 99.9% pure platinum that delivers 5% cash back on dining and flights, 10% cash back on hotels and car rentals booked through the Robinhood Banking app, and more than $3,000 in annual credits and memberships. The card is issued by Coastal Community Bank and is currently in a "coming soon" waitlist phase.
The Platinum Card sits above the existing Robinhood Gold Card and offers credit limits up to 5x higher. It targets the same affluent demographic that carries an American Express Platinum ($695/year) or Chase Sapphire Reserve ($550/year), but with a cash back structure rather than a points system, and it comes from a company that also operates one of the largest retail crypto trading platforms in the United States.
Five Percent Dining and Flights, Ten Percent on Hotels
The rewards structure is straightforward. Cardholders earn 5% cash back on all dining purchases and 5% on flights. Hotels and car rentals booked through the Robinhood Banking app earn 10% cash back. Everything else earns 1%.
Those headline rates are aggressive. The Amex Platinum offers 5x points on flights booked directly with airlines or through Amex Travel, and 5x on prepaid hotels through Amex Travel, but its dining rate is just 1x outside of the Amex Gold ecosystem. The Chase Sapphire Reserve offers 3x on dining and travel across the board.
Robinhood's 10% on hotels is the standout figure. No major premium card currently matches that rate, though the "booked through the app" requirement limits flexibility. The card also bundles daily breakfast for two, room upgrades, and other travel perks when booking through the app.
Over 3,000 Dollars in Annual Credits
The Platinum Card stacks annual credits aggressively, a strategy borrowed directly from the Amex Platinum playbook of offsetting a high annual fee with targeted spending credits:
- $500 annual hotel credit (booked through the app)
- $300 annual travel credit
- $250 annual DoorDash discount
- $250 annual credit at 15,000+ eligible restaurants
- $250 annual credit on autonomous rides
- $200 annual credit toward wearables
- $120 complimentary DashPass membership
Total stated value exceeds $3,000 per year against a $695 annual fee. The gap between fee and credits looks generous, but the real question is always utilization. Credits that expire unused or require purchases you would not otherwise make are worth zero.
Priority Pass, Global Entry, and No Foreign Transaction Fees
The travel package includes unlimited access to 1,800+ Priority Pass airport lounges worldwide, a Global Entry or TSA PreCheck credit, and no foreign transaction fees. These three features match the Amex Platinum and Chase Sapphire Reserve almost exactly.
For international travelers, the zero FX markup is a baseline expectation at this price point. Every premium card in this tier offers it.
Health and Wellness Perks as Differentiation
Where the Platinum Card diverges from traditional premium cards is its health and wellness bundle:
- Complimentary Oura Ring membership for sleep, activity, and recovery tracking
- Function Health membership ($365 value) with 160+ advanced lab tests
- Amazon One Medical membership ($199 value)
- $200 annual credit toward wearables (Apple Watch, Garmin, Whoop, etc.)
This is new territory for a credit card. Neither Amex Platinum nor Chase Sapphire Reserve bundles health monitoring services. Robinhood is betting that its target demographic, young to middle-aged professionals who already track their health data, will value biometric memberships as much as airport lounge access.
Family Cards and Credit Limits
Authorized users can be added at no additional cost, with the ability to set individual spending limits per card. Authorized users receive a stainless steel card by default but can upgrade to the platinum-plated version for a fee.
The "up to 5x higher credit limits than the Robinhood Gold Card" claim is notable but vague. Individual limits still depend on credit approval and underwriting. Robinhood emphasizes that checking eligibility does not affect your credit score.
Why Crypto Card Users Should Pay Attention
Robinhood operates a major crypto trading platform alongside its brokerage. While the Platinum Card itself does not offer crypto cashback rewards like Crypto.com's Obsidian ($400,000 CRO stake, 8% CRO back) or ether.fi's VIP tier (5% ETHFI, $50,000 lock), the 5% cash back on dining and flights paid in USD is a guaranteed return with no token price risk.
That distinction matters. A 5% cash back rate in dollars is worth exactly 5%. A 5% rate paid in a volatile token can be worth 3% or 8% by the time you spend it. For users who want premium card perks without crypto exposure, the Robinhood Platinum Card offers a clean alternative.
The $695 fee also positions it directly against the premium tier of crypto cards. The Crypto.com Obsidian requires a $400,000 CRO stake. The ether.fi VIP Card requires a $50,000 ETHFI lock. Robinhood asks for $695 per year and a credit check. The barrier to entry is dramatically lower, even if the ongoing cost is higher than "free" cards subsidized by token economics.
The competitive pressure flows both ways. If Robinhood can deliver 5% dining and 10% hotels at $695/year, it raises the bar for what crypto card issuers need to offer to justify staking requirements or annual fees. Gate.io recently relaunched its card program with a 5% cashback VIP tier. The premium card segment is getting crowded.
The Waitlist and What Comes Next
The Platinum Card is not yet available. Robinhood is collecting email addresses for a waitlist, with no announced launch date. The Gold Card, which launched in late 2024 with 3% on dining and 1% on everything else, took several months to move from announcement to general availability.
Given Robinhood's track record of phased rollouts, expect a limited beta before wider release. The company has 24+ million funded accounts and recently crossed $200 billion in assets under custody, giving it a substantial distribution channel for a premium credit card product.
FAQ
Is the Robinhood Platinum Card available now? No. It is currently in a "coming soon" waitlist phase. No launch date has been announced.
Does the Platinum Card offer crypto cashback? No. Rewards are paid in USD cash back, not cryptocurrency. However, cardholders could use their Robinhood brokerage account to buy crypto with their cash back.
How does the $695 fee compare to similar cards? The Amex Platinum charges $695/year. The Chase Sapphire Reserve charges $550/year. Robinhood matches the Amex price point but offers higher cash back rates on dining (5% vs 1x) and a unique 10% hotel rate.
Who issues the Robinhood Platinum Card? Coastal Community Bank issues the card on the Visa network. Robinhood Credit, Inc. is a financial technology company, not a bank.
Overview
Robinhood announced the Platinum Card on March 4, a $695/year Visa credit card with 99.9% pure platinum plating, 5% cash back on dining and flights, 10% on hotels and car rentals booked through the app, and 1% on everything else. The card bundles over $3,000 in annual credits including a $500 hotel credit, $300 travel credit, $250 DoorDash discount, Priority Pass lounge access at 1,800+ airports, Global Entry or TSA PreCheck, no foreign transaction fees, and a health and wellness package featuring Oura, Function Health, and Amazon One Medical memberships. Issued by Coastal Community Bank on Visa, the card is currently waitlist-only with no launch date. At $695/year with guaranteed USD cash back, it directly challenges both traditional premium cards and crypto card premium tiers that require large token stakes for comparable rewards.
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