topic Re: Robinhood Gold Card Approval! in Credit Card Approvals

Robinhood Gold Card Approval!

Tiggr — Sat, 05 Apr 2025 03:43:32 GMT

After being on the waitlist since the card released, and being a gold member for most of the past two years, I finally got invited ("pre-approved") to apply for the gold card. I fully expected to get denied since I was already at 5/24 and a lot of inquires but it very easily and quickly went through and surprisingly hasn't used a HI (yet?). Something very interesting with this card was that it gave me the option to pay for a higher credit limit. Starting with 10k minimum, every 2k I deposited in their brokerage would give me another 1k of limit. I elected not to because 10k is more than enough and I've seen reports of them lowering CLs regardless.

This card is a no-brainer for me, who doesn't want a 3% catch all? While I'd much rather have the USBAR (rip), this fancy card is a solid lock for however long it is before they change the terms.

As far as why/how I got invited, my theory is: with the market being down so much this year, they might be sending out more apps to get more cash into their platform (by paying for CL essentially) to combat people who might be slowing down their investments or withdrawing entirely, but that's just a conspiracy. My stats with them is that I've been with them for 4 years and I have about 4k total in there right now and I even signed up for their free 1k account management last week.

Now that I'm on 6/24, I don't think I'll be getting a new card soon, the next card I'm looking at is the Amex plat or a CSP to start my Chase Trifecta.

Re: Robinhood Gold Card Approval!

FicoMike0 — Sat, 05 Apr 2025 12:28:16 GMT

Congratulations!

Who is their bank?

Re: Robinhood Gold Card Approval!

Tiggr — Sat, 05 Apr 2025 18:43:48 GMT

@FicoMike0 wrote:
Congratulations!
Who is their bank?

Coastal Community Bank according to the cardholder agreement.

Re: Robinhood Gold Card Approval!

cashorcharge — Sat, 05 Apr 2025 19:54:19 GMT

Nicely done!! Congratulations on your Approval!!👏🏼🍾🥂

Hopefully you won't have the same experience as those with the X1 card that saw their limits chopped...though admittedly a part of that was due to high limits offered and low usage. Use that card A LOT.

Re: Robinhood Gold Card Approval!

CreditMagic7 — Sat, 05 Apr 2025 23:43:02 GMT

@Tiggr wrote:
After being on the waitlist since the card released, and being a gold member for most of the past two years, I finally got invited ("pre-approved") to apply for the gold card. I fully expected to get denied since I was already at 5/24 and a lot of inquires but it very easily and quickly went through and surprisingly hasn't used a HI (yet?). Something very interesting with this card was that it gave me the option to pay for a higher credit limit. Starting with 10k minimum, every 2k I deposited in their brokerage would give me another 1k of limit. I elected not to because 10k is more than enough and I've seen reports of them lowering CLs regardless.

This card is a no-brainer for me, who doesn't want a 3% catch all? While I'd much rather have the USBAR (rip), this fancy card is a solid lock for however long it is before they change the terms.

As far as why/how I got invited, my theory is: with the market being down so much this year, they might be sending out more apps to get more cash into their platform (by paying for CL essentially) to combat people who might be slowing down their investments or withdrawing entirely, but that's just a conspiracy. My stats with them is that I've been with them for 4 years and I have about 4k total in there right now and I even signed up for their free 1k account management last week.

Now that I'm on 6/24, I don't think I'll be getting a new card soon, the next card I'm looking at is the Amex plat or a CSP to start my Chase Trifecta.

Congratulations!

Re: Robinhood Gold Card Approval!

trant3 — Sun, 06 Apr 2025 17:31:27 GMT

Congratulations! One thing I noticed about this card is that you can only redeem the 3% cash back into your RH brokerage account and cannot withdraw it into a bank. So you basically have to invest the 3%. I ended up closing the card.

Re: Robinhood Gold Card Approval!

Tiggr — Sun, 06 Apr 2025 17:55:57 GMT

@trant3 wrote:
Congratulations! One thing I noticed about this card is that you can only redeem the 3% cash back into your RH brokerage account and cannot withdraw it into a bank. So you basically have to invest the 3%. I ended up closing the card.

Oh wow! When can you withdraw it?

Re: Robinhood Gold Card Approval!

Tiggr — Wed, 09 Apr 2025 14:37:10 GMT

@trant3 wrote:
Congratulations! One thing I noticed about this card is that you can only redeem the 3% cash back into your RH brokerage account and cannot withdraw it into a bank. So you basically have to invest the 3%. I ended up closing the card.

Upon looking into this further, searching forums, and looking throught the rewards agreement, it seems like there is no restriction to taking it out. So it's pretty simple that you just redeem for full value into your brokerage, and then ACH transfer into your bank no problem.

Re: Robinhood Gold Card Approval!

trant3 — Wed, 09 Apr 2025 14:48:26 GMT

From personal experience with the card, you can redeem the full 3% into your RH brokerage but it will NOT allow you to withdraw those funds to your bank account. You can see for yourself i suppose.

Re: Robinhood Gold Card Approval!

coreyb80 — Wed, 09 Apr 2025 17:51:13 GMT

Congrats on the approval!

Re: Robinhood Gold Card Approval!

RootDet — Wed, 09 Apr 2025 19:44:26 GMT

@cashorcharge wrote:
Nicely done!! Congratulations on your Approval!!👏🏼🍾🥂
Hopefully you won't have the same experience as those with the X1 card that saw their limits chopped...though admittedly a part of that was due to high limits offered and low usage. Use that card A LOT.

I have had the X1 card for a long time. Approved at $42k, sitll at $42k. I think the most i spent in a single month was maybe $1k? I average about $75/mo on it with regular spend. From there i generate varies one use cards as needed. So not everyones limit got slashed after RH bought them.

Re: Robinhood Gold Card Approval!

chamathkari — Wed, 09 Apr 2025 20:36:25 GMT

Congratulations

Re: Robinhood Gold Card Approval!

Creditaddict — Thu, 10 Apr 2025 07:57:17 GMT

Chase is the absolute only person that cares about 5/24!

fuertuermire Amex does "will I be approved" with no ho to apply so why wait?!

Re: Robinhood Gold Card Approval!

KingKong — Fri, 11 Apr 2025 22:10:58 GMT

Congrats!

Re: Robinhood Gold Card Approval!

Tiggr — Wed, 16 Apr 2025 20:02:43 GMT

HI did eventually hit my CR, only see it on Experian so far..

Re: Robinhood Gold Card Approval!

Creditwiser — Wed, 16 Apr 2025 20:06:40 GMT

Congrats on your approval !

Re: Robinhood Gold Card Approval!

Komma — Fri, 18 Apr 2025 17:02:07 GMT

You can redeem the 3% to your brokerage and use that to pay your bill or withdraw to your bank (I regularly do both). Not sure why you weren't able to unless you had some sort of promotional restriction up to a certain dollar amount that was present on your account.

Re: Robinhood Gold Card Approval!

Tiggr — Fri, 18 Apr 2025 23:54:29 GMT

Ditto on that, I've been able to immediately withdrawal the funds to my investing account and immediately transfer it to my checking account.

Re: Robinhood Gold Card Approval!

unsungivy — Sun, 20 Apr 2025 13:09:50 GMT

Nice! I'm still waiting on my invite, so weirdly good to know that they are still so far behind that someone who signed up at launch only just got the offer! Also, thanks for the details!

Re: Robinhood Gold Card Approval!

will09994 — Sun, 20 Apr 2025 15:52:17 GMT

Congratulations! Still waiting on my offer as well. Robinhood Gold on its own seems to have quite a few benefits!