How to apply for Robinhood Gold

Deciding which credit card better suits you can sometimes be a little tiring, as all of us have our own necessities and needs, and there are so many options available in the market that can make this choice even harder. That is why our job here is to help you while you navigate into that decision. In the case of the Robinhood Gold Credit Card, which is designed for Robinhood’s premium members, it offers an attractive value proposition, as it provides 3% cash back on all purchases you do, which can be a compelling aspect for those who are looking for rewards.

Another thing that may shine in your eyes is the fact that the card itself does not require any monthly fee from the customers. However, in order to have access to its benefits and to use them, you must subscribe to Robinhood Gold and become a member, which requires a $5 fee per month. But that can actually be seen with good eyes, depending on what you want. If you are a heavy spender, it will include perks such as higher interest on uninvested cash and margin investing.

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Looking for a new credit card? Here is what you need to know about the Robinhood Gold. In this article we will point out some of the most important information about this credit card in detail, so you can decide if it is the one for you!

What other benefits can I find in this card?

Besides what we have already talked about above, while taking a good look at this card you will notice that there are a few other aspects that may be interesting for you as a customer.

• Not only you may have the 3% cash back we have mentioned, but the card also provides a benefit of 5% cash back when you book a trip through the Robinhood Travel portal;
• There are no foreign transaction fees, so you can feel relieved if you ever need to make any international travel or if you would like to shop online;
• Get access to extended warranty protection, which will add more time on eligible purchases;
• Travel emergency assistance and trip interruption protection, so you can feel safer while planning the next trip;
• Are you a driver? Get an auto rental collision damage waiver;
• Get access to the Visa Signature Concierge Service.

To get to know other benefits, please consider visiting the card’s webpage and the terms and conditions.

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What are the requirements to get the Robinhood Gold?

The requirements to get your Robinhood’s Gold Credit Card are actually quite similar to other financial institutions out there. Besides getting the membership mentioned before, and a valid Robinhood Brokerage Account, you will need:

• U.S. residency, as it is not available internationally;
• Good or excellent credit;
• No negative banking history;
• Being at least 18 years old.

What are the pros and cons of getting this card?

By now, you have probably noticed that this card is aligned with the profile of those who are frequent buyers and travel lovers, looking for an affordable credit card option that still offers a few rewards to make use of. That being said, here are the pros and the cons of getting the Robinhood Gold, as all options out there do hold advantages and disadvantages.

Pros:

• Good opportunities of cash back and instant redemptions;
• Travel and shopping protection;
• No foreign transaction fees;
• Modern and light design.

Cons:

• It requires a Robinhood Gold membership, so if you don’t get it, you won’t be able to use it;
• High credit score needed, so if yours is not that good, it may be difficult to be eligible to get one.

Get to know more about Robinhood Markets

The company was first established in 2013 by two friends and old classmates: Baiju Bhatt and Vladmir Tenev. They both studied together at Stanford University and after graduation decided to move to New York, where each one of them created different finance companies. However, after their experience there, they understood how unfair it was that Wall Street groups were paying little amounts to trade stocks, at the same time as regular people were charged commissions for every single trade they made. That gave them a reason to move back to California and to found Robinhood Markets, with the goal to change that.

As for now, the company operates in different sectors, including credit cards, crypto, banking, trading and others, working in the hybrid model. To get to know more about Robinhood Markets, its services and history, please visit their website.

What is the target audience for the Robinhood Gold?

As we have already mentioned, this card is designed for Robinhood Gold members. That being said, it is only possible to use it if you have subscribed to become a member. The people who subscribe are usually those looking for ways to receive additional benefits for their finances and lives. So we can say that the target audience for it are the ones who are frequent spenders and want to maximize their rewards while doing so.

Card: Rates, fees, and key terms

The Robinhood Gold, issued by Coastal Community Bank, features a competitive fee structure for users with an active Robinhood Gold membership. The card charges no annual fee as long as the Gold membership is maintained. Annual Percentage Rates (APRs) for purchases, balance transfers, and Pay Over Time Plans range from 21.99% to 29.99%, and are variable based on changes to the Prime Rate. Cash advances are charged a fixed APR of 29.99%, with a transaction fee of either $10 or 5% of the amount, whichever is greater. There are no foreign transaction fees or balance transfer fees.

However, late and returned payments may incur a fee of up to $40. Cardholders have a grace period of at least 21 days after each billing cycle to pay off their adjusted balance without interest on purchases. Interest charges are calculated using the average daily balance method (including new transactions). These terms make the card an appealing option for active Robinhood investors who manage their balances responsibly.

How can I apply for the card?

First of all, you should pay attention to the prerequisites to make sure you can actually apply for this option. They are:

• Subscribing to Robinhood Gold;
• Having a Robinhood brokerage account;
• Having a good credit score and being at least 18 years old.
• If you do match this criteria, to apply you will need to:
• Check the credit card section in the Robinhood’s app;
• Click in “Appy Now” (only available if you are eligible);
• Fill the personal and financial information required;
• Submit the application and wait for the company’s decision.
• Before applying, don’t forget to check all the terms and conditions.

How can I unlock my card?

Supposing that you have received your approval, according to the company’s policies, the virtual card will be automatically unlocked and you can make use of it once you are approved. But if you also received a physical card, in that case it may be necessary to activate it by using the app, if it is required.

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Customer services

If you want to contact Robinhood Markets, there are several ways to do so. You can use the app and look for support by selecting “Help”, where you may find a live chat; you can call +650 940-2700, contact the Credit Card support at [email protected] or submit a request through their website. There is also a FAQ available online. Are you ready to change how you spend? Apply now!