NEW Must-Have Cash Back Card? | Robinhood Gold Card Review
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- Опубликовано: 29 мар 2024
- Could the Robinhood Gold be the NEW Best Cash back card? Compared to Double Cash, Active Cash, and even the Apple card, the 3% back on EVERYTHING with the Robinhood Gold is a game changer! In this video, we break down all the details you’d need to know, why the “annual fee” could earn you thousands, Robinhood’s grand plan, and who this card is really for.
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Question for you: Will you be adding this card to your wallet? Why or why not? 👇
And if you're interested in learning more about the Robinhood Gold Card, check out kevinyang.info/robinhood-gold-card
Thank you for sharing all of the information needed. to consider getting this card..
It's a really strong contender for a lot of people's use case imo!
Robin hood and Vebull Chinese company
Do we have any idea when the roll out will start?
I am with you Kevin on that wait list. Most existing cash back cards offering 2% back or more have either foreign transactions fees of close to 3% or some annual fee. The nice feature about this card is the simplicity of knowing that you're getting 3% cash back anywhere you're using it. Also, I disagree with people who state that the $50 Robinhood annual gold membership should be viewed as the annual fee of the gold card, as they assumes that all the features of the gold membership are worhtless! The 5% APY on deposits, 3% IRA match and most importantly 1% deposit match are all nice features that should count for something.
I am slightly confused here. How is that $50 not considered an annual fee? Effective annual fee, maybe? For example, Capital One Venture X also has benefits, which gives you $300 back as travel credit and 10,000 miles once you hit anniversary. It has an annual fee of $395, but -$5 effective annual fee.
My point is that some of the cash benefits you get without having or using the card, they come with the gold membership. With other cards you have to use the card to get the cash benefits that reduce the annual fee into an effective annual fee.
Yeah I can see it both ways as a grey area... technically you need to pay something for it, but at the same time, anyone who is at least somewhat into investing (which I believe everyone should), should be able to find enough (easy) benefits there to more than make up the cost!
@@MrDubs6000 Yeah it's pretty grey area imo, but could see it both ways!
So if I get the card and use it do the money come from the your account or money that’s not invested?
Does the cashback apply for rental payments?
The 1% match to your taxable account deposits is paid out over a 24 month period. Unfortunately, It’s not an instant match.
Yes that's correct!
Please explain 5:35. I have to spend 5k in order to break even the $50 annual fee?
50/.03 = 1666
5000*.03 = 150
If my math is correct, spending 5k will give me rewards that exceed the $50.
I intend to get Robinhood gold eventually when my income increases, but for now I just want it for this card. That’s why I care about this confusion of mine.
That's actually compared to something like the Citi Double Cash which does not have any cost, giving 2%. And so here, you're getting an extra 1% back, meaning you'd spend $5000 x 1% = $50, the cost of yearly Robinhood gold
@@KevinYang thank you for clarifying.
@@battery_wattage You're welcome!
It's a very good end-game or gardening card, but with so many cards with awesome SUB, this is not at the top of the list especially if you consider Chase 5/24.
Agreed, it'll take some time for the full value to be realized vs. something like an instant welcome bonus!
Hard pass. I'll stick with my CITI Double Cash/Custom Cash combo.
How do you use your Citi points, pure cash back or using the points in other ways?
Which $60 AF is better? Bilt or Robinhood?
Bilt doesn't have an annual fee!
@@KevinYang Cool. Someone said you have to use card 5x a month to earn any points on your spending. 5 x $1 x 12 = $60
Bilt is free what are you talking about?
@@robert8311 The card is useless unless you use it 5x a month to earn points. That my friends, is an effective AF.
@@robert8311 Yup!
Kroger Mastercard Apple Pay first 3000 as 5% and later 2% issued by US Bank and no annual fee
Haven't heard of that card, but looks good for the first $3k!
The CEO said he can't make a verbal commitment that the card will be 3% for 18 months after launch so that's all I need to know not to apply.
This is pretty telling
Great point! We'll have to see what happens!
What's your source?
@@ab3040 New York Times article titled, "Robinhood’s Credit Card Offers 3% Cash Back. Can It Last?" writes, ”Here’s the first thing to know about the new Robinhood credit card that promises 3 percent cash back on all purchases, without limits: Yesterday, when I asked Vlad Tenev, the company’s chief executive, to guarantee that it would stay at that level for 18 months, he would not.”
That’s not true! 🤥
Discover card will give 5% back but on only special things, that change every month.
I don’t feel this card will serve much purpose. The X1 Visa Signature card is the superior card, not sure why Robinhood bought the X1 portfolio and then killed off the card and released this crap. The X1+ card was supposed to be released this spring and those plans have been scrapped Robinhood never should have bought X1.
I would imagine X1 didn't have the runway to keep that going for long, yet Robinhood might, especially with their long list of other revenue-generating products they can onboard these users to
I don't trust there customer service
How's your experience been?
@@KevinYang I always do business with easy communicate trustful phone available
@@KevinYang Does anyone know that Robin home company is from China
You’re wrong that Apple Card only gives 3% at Apple. It gives 3% for any purchase using Apple Pay as well. Since most merchants take Apple Pay now it’s still a good option.
it is only 3% with Apple pay at Apple and select merchants. Apple pay away from select merchants gets you 2% only.
@@gsctrading7215 I stand corrected. My mistake.
@@gsctrading7215 Thanks for the added context!
At 3%, you’ll earn back the $50 annual Robinhood Gold subscription fee after spending $1,667 on the card.
@@meadows5367 Yup! As always, have to work it out for everyone' specific spend, but the methods are the same!
You’re about 4 days late and still have the gull to say “breaking news” with a straight face
I respect it
Filmed it on the day of, but some delays in editing haha 😂