Robinhood launches $695 Platinum credit card to target wealthy users
Synopsis
Robinhood has introduced a Platinum credit card with a $695 annual fee as the fintech company expands into the premium credit card market. The card offers travel and lifestyle benefits valued at roughly $3,000 annually and targets higher-income customers. The launch comes as Robinhood broadens its financial services ecosystem, reporting $4.5 billion in revenue in 2025 and serving around 27 million funded accounts with about $324 billion in assets.
Robinhood has launched a Platinum credit card with a $695 annual fee, entering the premium credit card segment as it expands financial services beyond trading. The fintech company said the card offers benefits valued around $3,000 annually and targets higher-income customers while broadening its financial ecosystem.
Key Highlights
- Robinhood launched a $695 annual fee Platinum credit card targeting higher-income consumers.
- The card offers around $3,000 in annual benefits, placing it in the premium card segment.
- Robinhood reported $4.5 billion revenue and $68 billion net deposits in 2025.
- Platform serves 27 million funded accounts with about $324 billion in assets.
Robinhood Markets Inc. has introduced a Platinum credit card with a $695 annual fee, entering the premium credit card segment as the fintech firm expands its financial services beyond retail stock trading.
The Robinhood Platinum credit card was unveiled during the company’s “Take Flight” product event. The card will initially be available on an invite-only basis, although users can request access through Robinhood’s platform. It is issued on the Visa network and features platinum plating, according to company disclosures.
Robinhood said the card offers travel and lifestyle benefits valued at about $3,000 annually, placing it among premium credit cards typically aimed at higher-spending consumers.
The premium card segment attracts fintech entrants
The launch positions Robinhood in a market traditionally dominated by large financial institutions offering high-fee travel and lifestyle cards.
Premium cards issued by major banks in the United States often charge high annual fees. For example, the American Express Platinum card carries a fee of about $895, while JPMorgan Chase’s Sapphire Reserve charges around $795, offering travel rewards and other benefits.
The Robinhood Platinum credit card follows the company’s earlier Gold credit card, launched in 2024. The new card offers higher credit limits than the Gold card, reflecting its focus on customers with larger spending capacity.
Financial technology firms have increasingly moved into traditional banking products such as credit cards, lending and wealth management as they seek new revenue streams and deeper relationships with customers.
Robinhood broadens its financial ecosystem
The credit card launch comes as Robinhood continues expanding its product lineup to position itself as a broader financial services platform.
The company reported $4.5 billion in total revenue for 2025, representing its strongest annual performance to date. Robinhood also recorded $68 billion in net deposits during the year, reflecting continued growth in customer assets.
Robinhood currently serves about 27 million funded customer accounts and holds approximately $324 billion in platform assets, according to company data.
Headquartered in Menlo Park, California, Robinhood primarily operates in the United States, though it has expanded selected services such as cryptocurrency trading into parts of Europe and the United Kingdom.
Alongside the credit card announcement, the company also introduced custodial investment accounts, allowing parents or guardians to invest on behalf of minors until they reach adulthood.
Robinhood executives said the new products are designed to meet the changing financial needs of the platform’s users, whose median age is now in the mid-30s.
Quick FAQs
Q1. What is the Robinhood Platinum credit card?
The Robinhood Platinum credit card is a premium credit card launched by Robinhood with a $695 annual fee and travel-related benefits.
Q2. How much is the annual fee for the Robinhood Platinum credit card?
The Robinhood Platinum credit card carries a $695 annual fee.
Q3. Why did Robinhood launch a premium credit card?
Robinhood launched the card to expand beyond stock trading and offer broader financial services to higher-income customers.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
