topic Re: Robinhood Gold Card with a $10,000 limit in Credit Card Approvals

Robinhood Gold Card with a $10,000 limit

denverguy67 — Thu, 05 Jun 2025 17:49:50 GMT

Hello, I was just approved for a Robinhood Gold Card with a $10,000 limit. They will send me a gold colored stainless steel card in about 2 weeks. It will be issued by Coastal Community Bank. It has a 29.99% APR. It gives 3% cash back on all purchases. To get it, I had to join the Robinhood Gold program which costs $5 per month or $50 per year. I think they do a soft pull on Experian, and for reference my Experian Fico 8 score is 754. I don't think I will use this very much because of the high APR, so it's just for bragging rights.

Re: Robinhood Gold Card with a $10,000 limit

Varsity_Lu — Thu, 05 Jun 2025 19:21:26 GMT

Well, congrats. I guess. I don't really understand paying $50 a year to get a card you don't intend to use. Could you explain that to me? And the fact that you care what the interest rate is tells me you carry balances? You have a new, blank slate card. Would it be possible for you to use it and PIF going forward?

But honestly, congrats on the approval.

Re: Robinhood Gold Card with a $10,000 limit

AndySoCal — Thu, 05 Jun 2025 22:19:41 GMT

Paying $60.00 per year 12 x 5 for bragging rights? There was another post on the forum is that you have to give them your bank account # and routing number for you to pay them. per that post that is the only form of payment that they will take. I will gladly take 2% cash back with no annual fee and an interest that is about half the one you have on this card.

Re: Robinhood Gold Card with a $10,000 limit

cashorcharge — Fri, 06 Jun 2025 00:15:42 GMT

Congratulations on your approval!

Be aware....if you don't keep using the card, they will cut your CL for not enough use. Those of us we got the X1 card (same process and bank) all had our high CL's cut.

Re: Robinhood Gold Card with a $10,000 limit

denverguy67 — Fri, 06 Jun 2025 15:31:24 GMT

To follow up. The Robinhood Gold plan also has other potential benefits. 1) They were advertising a $1 million giveaway, to be split between all new Robinhood Gold members who joined between May 22 - June 5 (today). The funds cannot be withdrawn for 1 year and if you cancel the gold plan before the year is up, you lose it. I had to apply on my phone and I saw something that briefly popped up saying I was eligible and the payout date would be June 12, but I didn't screenshot it, and I didn't get an email confirming it, so I don't have proof I will get it. It would be worth $100 if they got 10,000 sign ups. 2) Higher rates on uninvested cash, 4.5%. 3) $1000 margin interest-free loan. 4) 3% IRA match. 5) and more .. professional research, etc. None of these would help me, but I am curious about the share of the $1 million.

I'm not clear if the card has a separate annual fee from $50 gold plan fee. I don't think so, but I don't see anything stating that.

They did ask for my routing number and account number, and payments can be made only through the phone app using that account. (I like just logging in to my different credit card accounts using a browser, but you can't do that here).

I do agree in retrospect that a card with 2% cashback, no fee and a lower limit and lower rates would be better than this. And I am expecting them to cut the limit in about a year, because I don't think I would ever have a balance of over $500 on this.

Re: Robinhood Gold Card with a $10,000 limit

Copenix — Fri, 06 Jun 2025 07:40:21 GMT

Nice. Congrats on your approval. Enjoy your Robinhood Gold

Re: Robinhood Gold Card with a $10,000 limit

denverguy67 — Fri, 06 Jun 2025 15:30:41 GMT

Update: There was a hard pull on Experian, which didn't show up until today. This cause my Experian Fico 8 to drop 7 points to 747 because now I have 4 inquiries within the last 12 months. I have now opened 3 cards in the last 3 months, so I need to stop for at least the rest of the year.

Re: Robinhood Gold Card with a $10,000 limit

Shawnyaeger — Mon, 09 Jun 2025 01:13:01 GMT

I got approved for the Robinhood card back in March and they gave me a $10,000 limit. It was such a simple process. I did have to upload a copy of my driver's license and I did a selfie to confirm who I am. The only thing was it took me about 4 weeks for me to get my card in the mail.

The card looks extremely cool. I still have not used the actual card as I make most of my purchases with my Google wallet. I love the 3% cash back. Also what's really really cool is when I make a payment it posts my account immediately and reflects in my available credit at the same time.

Re: Robinhood Gold Card with a $10,000 limit

Meanmchine — Tue, 10 Jun 2025 04:08:54 GMT

If youre happy, enjoy !

Re: Robinhood Gold Card with a $10,000 limit

invisible — Tue, 10 Jun 2025 04:24:29 GMT

I've had and put moderate use through this card for about the past 6 months, the cashback can be redeemed and in my opinion is best to do so through my robinhood investing account, which I can also then apply it to my balance. The 3% is a nice catch all for things my other rewards cards/categories don't cover. I wish I could have done the 10 referrals to Robinhood gold and got the actual heavy real gold card, it looked so cool. I didn't know if I wanted to go through all that and then get declined or have to wait a long time to be egible for the card. I have what many banks consider to be excessive amount of inquiries and new accounts in the last 24 months. I was only paying for robinhood gold for maybe a month before they said I was preapproved.