Regardless of the allure of the rewards rate, this card is still a FinTech card and that alone sends up red flags for me. I've posted about issues with FinTech cards before, so I will just supply a couple of links. (>HERE< is my review of the X-1 card and why I didn't apply. It's worth noting that the X-1 card is essentially the "sister" card to this card since RobinHood acquired X-1 last year.) In summary, my biggest issues would be:
- FinTech cards appear to treat privacy concerns more casually, using third-party services such as PLAID to access banking accounts and data mining transactions more freely than you might find with some other major lenders. I would encourage anyone with a FinTech credit card to compare privary policy disclosures with their traditional credit cards. It appears to me that a core aspect of the FinTech business model includes collecting and using client data in collaboration with marketing partners.
- For credit cards, FinTechs must normally partner with an accredited financial institution since banking is not their primary business. Both X-1 card and RobinHood Gold card are serviced in partnership with a relatively small lender, Coastal Community Bank in Washington state. Customer service on the scale of a national product doesn't appear to be a priority as it is with larger lenders, or even the personal service you might expect with a credit card from your small local bank or credit union.
- FinTech cards have been more unstable as compared to mainstream bank cards. For some examples, see >this link< for a summary of major issues reported on the X-1 card. I don't believe I can count on FinTech cards to be as problem-free or to be around for the long haul as compared to credit cards from traditional lenders. I just don't trust them as much.
Other comments on the RobinHood Gold card:
I separately discussed the AF considerations and the implications of this card as a FinTech card, compared to credit cards from more traditional lenders. I think those are both significant factors in determining if this card is a good fit for you. I still think the ideal candidate for this card is someone who is already a RobinHood Gold client, who actively trades stocks on the platform and benefits from the Gold perks, and does not yet have a 2%+ credit card. In addition, they should have no objections or concerns for the FinTech reservations (privacy, customer service, stability.)
Beyond the above, the 3% base rewards is excellent (assuming they are able to make that last) although there are already other cards with rewards in the 2.1 to 3%+ range previously discussed on this thread. The 5% on travel through the portal isn't bad but it's available from other lenders including Chase on current no-AF cards. They include some good perks like no FTF, no AF, shopping protections (Extended Warranty; Return Protection; Purchase Security) and some Visa Signature travel perks that you won't find on all no-AF cards. I've often pointed out the security benefits of the Apple card with no visible card number, and this card boasts that as well, along with "virtual card numbers" for safety.
I do notice that in the >Rewards Disclosure<, the "cash back" is actually in the form of POINTS. Points are extremely easy for a lender to subsequently and even insidiously devalue. Currently, yes, the points are worth a penny a point, so the card will earn 3% in cash back. However, the cash rewards must be redeemed to a RobinHood Brokerage account; a brokerage account is required to receive cash back. (So for those thinking they will just pay for a GOLD membership with no RobinHood Brokerage activity, you will only be able to redeem for travel, gift cards, or shopping with points.) You can't use them for statement credit or direct redemption to an outside banking account; you would have to redeem to the brokerage account and then transfer cash. (Gift cards normally lose a small increment of rewards since you're deferring the opportunity to earn additional rewards on the value of the gift card spend.) RobinHood can change or end the Rewards Program with 45 days prior notice and then rewards must be redeemed within 90 days.
While some other lenders have similar statements in their rewards disclosure, I was amused at how My FICO members might react if they read the following: 
... Robinhood reserves the right to temporarily suspend your ability to earn or use Points, take away any Points in your account, cancel your Points account or cancel your Robinhood Card altogether if Robinhood determines in its sole judgment that you engaged in fraud, abuse, misuse or gaming in connection with earning or using points or that you may attempt to do so, including, but not limited to:
- by repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating rewards,
I predict that such card may get nerfed soon and I would not apply for it.
I also assume that Robinhood still uses Plaid which is another concern.
Fico8: EX~EQ~TU~840 (12 month goal~850).
After watching this YouTuber unboxing
https://youtu.be/_St2y3pJK-A?si=7JoQR_Q7PzaVX42L
The gold card Packaging is unbelievable even comes in a Louis Vuitton wallet as well This card Target mostly high spenders ... The heaviest metal card in the game..
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Does anyone care about the GameStop scandal?
it really bothers me.
