:max_bytes(150000):strip_icc()/Card-Robinhood-1331e388d57444f3b8d631030421e879.jpg "I Waited 18 Months for the Robinhood Gold Credit Card—Its High Cash Back Rate With No Categories Is Unbeatable")
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Key Takeaways
- The Robinhood Gold Card is invite-only. I joined the waitlist in spring 2024 and just received my offer last week.
- The card pays an industry-leading 3% cash back with no categories, limits, or foreign fees.
- A $50 annual Gold membership is required, but compared with a 2% cash back card, the fee is recouped after just $5,000 in yearly spending.
Most Cash Back Cards Stop at 2%—This One Goes Higher
Online brokerage platform Robinhood announced in March 2024 that it would launch a Robinhood Gold credit card. But you couldn’t apply then—all you could do was join a waitlist.
I did that in April 2024, based on Robinhood’s promise of 3% cash back on all purchases. I follow the best cash back cards closely, as I prefer steady, versatile cash back over rewards locked to travel. So when I saw 3% with no categories or limits, my interest was piqued.
What I didn’t expect was to wait a year and a half. My invite finally arrived last week.
Still, it feels worth the wait. Many cards offer 3%–6% cash back on specific categories, either fixed or rotating over time, and often with a monthly or quarterly spending cap. But flat-rate cards without categories or limits generally top out at 2%. That’s why a 3% no-category card stands out as something rare.
The Other 3% Card
One other card does offer 3% cash back with no categories—Farmer’s Insurance Federal Credit Union’s Crystal Visa. But its appeal is more limited: The annual fee jumps to $99 after year one, while the rate drops to 2.5%, and earnings are capped to $10,000 in spending each month. You also have to join the credit union with at least a $5 deposit in a savings account.
No Foreign Fees Make This Card Even More Valuable
If you’ve traveled abroad, you know the sting of foreign transaction fees—typically about 3% tacked on to every purchase. Those charges add up fast, which is why seasoned travelers seek out cards with no foreign fees.
The Robinhood Gold Card delivers here too: it charges none. That sets it apart from popular 2% cash back cards like Citi Double Cash and Wells Fargo Active Cash, both of which charge a 3% fee on foreign transactions.
For me, the benefit extends beyond travel. With a daughter studying in Canada, every purchase she makes with an authorized user card will earn 3% cash back with no foreign transaction fee. On top of that, I can put her tuition and housing costs on the card, making the Robinhood Gold Card even more valuable for our family.
Ways to Use Your Robinhood Cash Back
You can redeem Robinhood Gold Card rewards in a variety of ways, like booking travel through the Robinhood portal, buying gas, shopping at Amazon, or choosing gift cards. To turn rewards into true cash back, you’ll need a Robinhood brokerage account. Your rewards can be deposited there as cash, where you’ll be free to withdraw them if you like.
A $50 Gold Membership Unlocks the Card—and More Benefits
Beyond its standout 3% cash back and no foreign transaction fees, the Robinhood Gold Card offers a few additional benefits. You’ll earn 5% cash back when you book travel through the Robinhood Travel portal. As a Visa Signature card, it also comes with added protections, including auto rental coverage, trip interruption insurance, and purchase security.
To get the card, you’ll need a Robinhood Gold membership, which runs $50 per year (charged when you open the card account). But that cost isn’t just a hoop to jump through—it also brings perks for those with Robinhood investment accounts. Gold members earn a higher interest rate on uninvested cash (currently 3.75%), receive a 3% match on IRA contributions, and get access to advanced market data to support investing and trading decisions.
The Bottom Line
With 3% unlimited cash back, no foreign fees, and Visa Signature perks, the Robinhood Gold Card is arguably the best cash back card on the market—even with its $50 required Gold membership. And for those already paying for Robinhood Gold, adding the card is an easy decision—as soon as you get off the waitlist.
