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With the constant influx of rewards credit cards entering the market, here’s one many didn’t expect to make the biggest splash: The Robinhood Gold Card. As the first credit card introduced by the app-based brokerage, it has piqued a great deal of interest despite being a cash-back card without a welcome bonus.

With high earning potential, no annual fee (though a Robinhood Gold subscription is required), and an interesting referral bonus, the Robinhood Gold Card has a lot going for it. But whether you should hop on its growing waitlist depends on what you’re looking for in a credit card. Here’s a closer look at the Robinhood Gold Card’s features.

Robinhood Gold Card Overview

  • Welcome bonus: None.
  • Rewards: 3% cash back on all spending, 5% cash back on travel booked through the Robinhood travel portal.
  • Annual fee: None, but requires a $5 monthly Robinhood Gold membership.
  • Benefits: No foreign transaction fees, virtual card numbers, Visa Signature benefits, stainless steel card, trip interruption protection, auto rental collision damage waiver, extended warranty protection, and purchase security.
  • Referral bonus: Receive $1,100 or a 36-gram, 10K gold credit card after successfully referring 10 people who first sign up for the waitlist.

Generous 3% Cash Back on Everything

Robinhood Gold Card


As for the credit card itself, it has no welcome bonus but offers a flat 3% cash back on all purchases. The 3% cash-back rate is generous compared to other cards in this category, which tend to offer 2% cash back on all purchases or higher rewards with spending limitations.

Recommended Cash-Back Credit Cards

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Chase Freedom Unlimited®

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1.5%Extra Cash Back More Info

Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.


Wells Fargo Active Cash® Card

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Earn unlimited 2% cash rewards on purchases.

$200Cash Bonus More Info

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Citi Double Cash

Citi Double Cash® Card

2%Cashback More Info

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.

$200Cash Bonus More Info

Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.


Ink Business Cash® Credit Card

1% - 5%Cashback More Info

Earn 5% cash back on your first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. It also offers you 2% cash back on your first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.

$750Cash Bonus More Info

Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening


No Annual Fee (But Robinhood Gold Required)

The card has no annual fee but requires a Robinhood Gold membership, which costs $5 per month. Robinhood Gold members earn 5% APY on cash held in their brokerage accounts and a 3% IRA match. This feature makes it more competitive against other cash-back cards, especially if you keep the rewards in a qualifying account.

5% Back in Robinhood Travel Portal

Robinhood is also introducing a travel portal, where cardholders will receive 5% cash back on travel bookings. Combined with the card’s waived foreign transaction fees and trip protections, it’s designed to be a rewarding card for both everyday spending and travel abroad.

Cardholders who book travel with their Robinhood Gold Card can benefit from trip interruption protection, travel and emergency assistance, auto collision damage waiver, travel and emergency assistance, and Visa Signature Concierge access.

Enticing Referral Bonus

There is a waitlist to apply for the Robinhood Gold, which, while it doesn’t offer a welcome bonus does have an enticing referral bonus. Applying through a referral link won’t get you anything, though the person who referred you will receive $1,100 for every 10 successful referrals or a 10K gold credit card.

It may seem a bit gimmicky, but a gold credit card undoubtedly has many people excited to get on the referral train. Even if you don’t take advantage of the referral bonus, you can enjoy a stainless steel card for the premium look and feel.

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My Initial Impression

These benefits are fairly premium for a card with no annual fee, making the Robinhood Gold a solid choice for those seeking a simple cash-back card with practical benefits. Outside of travel protections, the card includes extended warranty protection and purchase security, which can provide extra peace of mind when making large purchases. While they come standard with most rewards credit cards, they’re not always a given for cash-back cards with no annual fee.

The only similar card on the market is the Discover it® Miles card, which earns 1.5 miles per dollar spent but gets doubled at the end of your first year. That card effectively earns 3% cash back the first year, since “miles” are only redeemable for cash at a rate of 1 cent each. The Discover it® Miles card does lack a traditional welcome bonus, but it comes with no annual fee.

Bottom Line

The Robinhood Gold Card is an exceptional card for those who want to maximize rewards on every dollar spent without tracking rotating or capped category bonuses. In a world where loyalty points have become increasingly difficult to redeem for premium awards, getting value for your points has become challenging. A 3% cash-back card is a great way to combat this, by providing utmost flexibility. In fact, most loyalty currencies are valued at under 2 cents per point, so you might be better off earning 3% cash back on the Robinhood Gold Card (with no annual fee at that).


Ariana Arghandewal

Ariana Arghandewal is a rewards travel expert and founder of Pointchaser, an online publication dedicated to rewards travel topics. She brings over a decade of experience writing about travel, points, miles and credit cards. Her expertise includes her roles as an editor for distinguished travel and finance publications such as NerdWallet, The Points Guy and FlyerTalk. She has also authored many articles featured in major financial news & travel channels like Forbes, U.S. News Weekly, Business Insider & Fodor’s Travel.