Let’s be real for a minute: getting paid 3% cash back on everything sounds like a fantasy. And when the Robinhood Gold Credit Card made its entrance promising this, I had to take it for a spin. But after 100 days of using it, the question remains: Does it live up to the hype, or is it just another shiny, gold-plated mirage?
Spoiler alert: It's not completely perfect, but it's definitely not all bad either. Let’s dive into the highs, lows, and unexpected twists that come with this card—starting with the basics.
What’s Up with the Robinhood Gold Credit Card?
If you’ve been living under a rock (or maybe just too busy paying off your student loans), the Robinhood Gold Credit Card is a shiny new addition to the world of cashback rewards. The main draw? It offers a pretty sweet 3% back on everything. Yes, everything. While it sounds like a dream come true, let's break it down to see if it's as glamorous as it seems.
The Card Itself
Let’s start with the obvious. The Robinhood Gold Credit Card is like the Bond villain of the credit card world: sleek, mysterious, and metal. Yes, metal! I’m talking about weighty, heavy-duty metal that makes your Chase Sapphire Reserve feel like a lightweight. And here's a fun twist: there are no numbers on the card. That's right, it’s like the card has an identity crisis. If you lose it, it’s got your back—nobody can use it without the magic of the Robinhood app to pull up the details.
Of course, this leads to a lot of curious looks when you whip it out at the coffee shop (people are really interested in the mystery of a card without numbers). So, if you enjoy turning heads and confusing baristas, this card might just be for you.
The App: Easy Peasy or Painful to Navigate?
Now, let’s talk about the app—because honestly, the card’s only as good as the app that powers it. Unlike some credit cards, Robinhood made a separate app for this. It’s super easy to navigate, and I mean easy like “I can find my last transaction without having a minor panic attack” easy. You can check transactions, make payments, and even see your rewards in real time.
Which brings us to... drum roll... the rewards.
Let’s Talk Rewards: Is 3% Cash Back Actually Real?
Yes, folks, it’s true. Robinhood Gold really does dish out 3% back on everything, and while that sounds too good to be true, it’s been delivering on its promise. The rewards are super easy to redeem too. I’m all about cash, so I have mine transferred directly to my Robinhood app, where it earns me an additional 4.25% APY. That’s like making money on top of money. But let’s not get too carried away—there are a couple of catches.
If you're into gift cards, you're limited to about 10 brands. Sure, they're big names, but if you were hoping to get your Starbucks fix with rewards, you might have to look elsewhere. You can also redeem for a statement credit, but here’s the kicker: You get less value than if you were redeeming for cash or gift cards. Talk about a bad deal for convenience!
Travel Benefits: The Card's Worst Kept Secret
Let’s be real here—if you’re expecting this card to revolutionize your travel game, you might want to adjust your expectations. Robinhood makes a big deal about 5% back on travel through their portal, but here’s the truth: it’s a scam.
I’ve checked flights on Google Flights and the Robinhood Travel Portal more times than I care to admit. Spoiler alert: Robinhood's prices are consistently higher. We’re talking $10 to $30 more expensive on every flight. So, if you were dreaming of booking flights for free using this card’s perks, you might want to keep dreaming.
Virtual Cards: A Feature I Actually Love
While Robinhood’s travel portal might be a dud, their virtual card feature? Total winner. I’ve used the trial or single-use virtual cards more than I ever thought I would, and they’ve saved me from paying for subscriptions I forgot to cancel. It's like getting a safety net for your digital life, and it’s a lifesaver if you’re prone to forgetting those free trials.
The Not-So-Great Parts: Are There Drawbacks?
Nothing in life is free, and neither is the Robinhood Gold Credit Card. While the 3% cash back is great, it’s also very likely to change. Remember when Uber promised 4% back on restaurants and then, poof—gone? Robinhood could very well do the same thing with this card.
Oh, and don’t forget: you need to be a Robinhood Gold member to even get this card. Yeah, the card’s advertised as “no annual fee,” but if you look closely at the fine print, it actually requires a $50/year Gold subscription. So, not technically free, unless you’re cool with paying $50 just to keep the card.
Final Verdict: Should You Get the Robinhood Gold Credit Card?
So, do I still use the Robinhood Gold Credit Card after 100 days? Yep. But I’m not using it for everything. If you’re like me, you probably have a Chase Sapphire or similar premium card for travel and dining. If that’s the case, you might want to reserve the Robinhood Gold for gas, groceries, and everyday purchases to get that sweet 3% back.
If you don’t have a dedicated travel card and you’re just looking for a solid, no-fuss way to earn cash back on all your purchases, this card is a winner. Just don’t get too comfortable with that 3% back—it may not last forever.
What do you think? Do you have the Robinhood Gold Credit Card? Let me know in the comments what you love (or hate) about it.
Is Robinhood Gold Right for You?
Pros: 3% cash back on everything, no foreign transaction fees, easy-to-use app, virtual cards for trials.
Cons: Travel portal is overpriced, annual Gold membership fee, possible future changes to the 3% rate.
And if you’re looking for more credit card tips, side hustle insights, or investment hacks, stick around. You can check out my other reviews here, and don’t forget to subscribe for more honest, no-nonsense advice!
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