Robinhood introduced a credit card on Tuesday with no annual or foreign transaction fees and a minimum of 3% cash back to the general public. However, the card is only available to Robinhood Gold subscribers who pay $5 per month or $50 per year for a membership.
Robinhood announced the card and its waitlist on Tuesday, marking the first time that the online trading app has expanded to credit cards. The company began offering a debit card two years ago and acquired no-fee credit card startup X1 Inc for about $95 million last year.
The card offers 5% cash back on travel bookings through Robinhood’s new portal.
Credit: Robinhood
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