Robinhood just dropped a $695 premium credit card, and it’s unlike anything else in the premium card space right now. The Robinhood Platinum Card pairs aggressive earning rates with an unusual health-and-wellness benefits package that sets it apart from the typical travel-focused competitors. Here’s a full breakdown of what you get and whether it’s worth the annual fee.
What Is the Robinhood Platinum Card?
Announced on March 4, 2026 at Robinhood’s “Take Flight” event, the Robinhood Platinum Card is Robinhood’s second credit card and its first premium offering. The card carries a $695 annual fee and is plated with real platinum.
At launch, the card is invite-only. Robinhood is sending a select number of invitations to existing customers, though anyone can sign up to request access on their site. I’ve already joined the waitlist myself — if this follows the same trajectory as the Robinhood Gold Card rollout, expect it to take some time before access opens up broadly.
You’ll need a Robinhood Financial brokerage account to redeem your cash back, which you can put toward your brokerage balance, use for travel through Robinhood’s portal, or spend with select online merchants. That ecosystem requirement is worth noting upfront.
Robinhood Platinum Card Rewards and Earning Rates
The earning structure here is aggressive in some categories and underwhelming in others:
- 10% cash back on hotels and rental cars booked through Robinhood’s travel portal
- 5% cash back on flights booked through the Robinhood Banking app
- 5% cash back on dining (restaurants, takeout, and delivery) on the first $50,000 in annual spend
- 1% cash back on all other purchases
That 10% return on hotels is the attention-grabber, but it requires booking through Robinhood’s travel portal. The same goes for the 5% flight rate. How competitive Robinhood’s portal pricing is compared to booking direct will determine whether those rates deliver real value or just look good on paper.
The 5% dining rate is strong and applies broadly to restaurants, takeout, and delivery without any portal requirement. The $50,000 annual cap means you’d need to spend over $4,100 per month on dining to hit it, so it’s effectively uncapped for most people.
Here’s the weak spot: 1% on everything else. For a $695 card, that base rate is disappointing. If you’re spending heavily outside dining and travel, those dollars earn almost nothing here.
Annual Credits and How They Actually Work
Robinhood claims the card’s benefits are worth over $3,000 per year. That number is technically accurate, but the reality depends on how the credits are structured and whether you can actually use them.
Dining and DoorDash Credits ($500 Combined)
The card offers $250 in annual dining credits at over 15,000 participating local restaurants. These are dispensed as a $20 monthly credit with a bonus $30 credit in December. Eligible purchases post automatically — no activation required beyond using your card at a qualifying restaurant.
The other $250 comes via DoorDash. Once you activate DashPass through the card, you’ll receive two $10 credits per month (three in January), each applicable to orders with a minimum subtotal of $50 before fees and taxes. If you don’t use the full $10 on an order, the remainder is forfeited. You also get a complimentary DashPass membership, which waives delivery fees on eligible orders from DashPass merchants.
For what it’s worth: the DoorDash credit structure means you’re still paying at least $40 per order after the discount. If you already order regularly on DoorDash at that level, this is easy value. If you don’t, these credits may go unused.
Travel and Hotel Credits ($800 Combined)
This is the most valuable credit category, but also the most nuanced. The $300 annual travel credit applies to rideshare services, hotel charges, flights, and other travel purchases — and it does not require booking through Robinhood’s portal. It’s dispensed as $150 every six months. This is the most flexible credit on the card.
The $500 hotel booking credit is more restrictive. You receive $250 every six months toward qualifying luxury hotel bookings made through the Robinhood travel portal, with up to $100 of that usable toward standard hotel bookings. There’s also a minimum two-night stay requirement. If you don’t book luxury hotels through their portal, this credit sits untouched.
Autonomous Rides and Health Wearables Credits ($450 Combined)
The $250 autonomous rides credit follows the same monthly structure as dining: $20 per month with a $30 December bonus. This only works for qualifying autonomous ride purchases, meaning services like Waymo. If you don’t live in a city with autonomous ride availability, this credit is essentially worthless to you.
The $200 health wearables credit covers qualifying purchases on health wearable devices. The specific details on eligible purchases are available in the Robinhood app.
Health and Wellness Memberships
This is where the Robinhood Platinum Card genuinely stands apart from competitors. Instead of the typical lounge-and-travel perks, Robinhood is bundling health memberships that add up to over $600 in annual value.
The biggest is Function Health, normally priced at $365 per year. It includes advanced lab testing and a personalized health protocol. You’ll receive a statement credit for the full $365 once you activate and the charge posts. Keep in mind that customers in Hawaii and Rhode Island aren’t eligible, and those in New York and New Jersey may face additional fees from Quest Diagnostics.
Amazon One Medical membership comes included at a $199 value. It provides 24/7 on-demand virtual care and same-day or next-day appointment booking in many U.S. cities. Office visits and scheduled remote visits are still billed to your insurance with standard copays or deductibles.
The Oura membership benefit is the most conditional of the three. You must opt in through the Robinhood app, then purchase an Oura Ring with a prepaid annual membership on ouraring.com within six months. After the charge posts, you receive a $70 statement credit covering the membership cost. The ring itself is an additional out-of-pocket expense. This is a limited-time offer that Oura can modify or discontinue.
If you’d genuinely use all three memberships, that’s $634 in real value. But if you wouldn’t otherwise pay for Function Health or already have a One Medical membership through your employer, this category loses its edge fast.
Travel Benefits and Lounge Access
The Robinhood Platinum Card includes a Priority Pass Select membership with unlimited lounge visits for the primary cardholder. This is standard equipment on premium credit cards at this price point, and Robinhood delivers it without visit caps.
You also get a Global Entry or TSA PreCheck credit of up to $120 every four years. Nothing remarkable here, but it’s a box that needs checking at this fee level and Robinhood checks it.
A notable plus: paid authorized users also receive their own Priority Pass Select membership and Global Entry/TSA PreCheck credit. Not every premium card extends these benefits to authorized users. Paid authorized users additionally qualify for Function Health, Amazon One Medical, and Oura memberships.
Robinhood Platinum Card vs. Robinhood Gold Card
If you’re already in the Robinhood ecosystem, you’re probably wondering whether the Platinum Card makes sense alongside — or instead of — the Gold Card. The two serve very different roles.
The Robinhood Gold Card has no annual fee and earns a flat 3% cash back on every purchase, with 5% on Robinhood Travel bookings. You do need a Robinhood Gold membership at $50 per year to earn that full 3% rate, but even with the membership cost, the Gold Card is one of the strongest flat-rate cash back cards available. The card launched in 2024 and still operates on a waitlist system, with over 600,000 Robinhood cardholders today.
The Platinum Card includes a complimentary Robinhood Gold membership, which saves you $60 per year (normally $5 per month). Gold membership itself comes with 3.35% APY on eligible brokerage cash, a 3% IRA contribution match, reduced management fees on the first $100,000 in Robinhood Strategies assets, and discounted mortgage rates with a $500 closing cost credit through Sage Home Loans.
Here’s how I’d think about it: the Gold Card is the better everyday spending card. A flat 3% on everything beats 1% on non-category spend by a wide margin. The Platinum Card is a benefits play — you’re paying $695 for credits, memberships, and elevated category bonuses on dining and travel. If you can’t extract meaningful value from the specific credits and memberships, the Gold Card is the smarter choice.
Both cards feature metal designs. The Gold Card comes in stainless steel (earlier cardholders could get a 10-karat gold version), while the Platinum is plated with real platinum.
How to Get the Robinhood Platinum Card
The Robinhood Platinum Card is launching as invite-only. Robinhood is sending initial invitations to select customers, with plans to expand access over time. You can sign up to request access through Robinhood’s website.
If you’re interested, I’d recommend getting on the waitlist now. The Gold Card followed a similar rollout pattern, and early sign-ups generally receive access sooner. Both cards currently require waiting for an invitation to apply.
The Verdict
The Robinhood Platinum Card is a genuinely interesting entry into the premium card market, thanks primarily to its health-and-wellness angle and strong dining rewards. If you’d actually use Function Health, One Medical, and the various statement credits, you can realistically extract well over $695 in annual value. But the monthly credit caps, portal-booking requirements, and niche perks like autonomous rides mean most people will leave significant value on the table. This card makes the most sense for Robinhood users who are already spending on dining and travel and who see the wellness memberships as a real upgrade to their routine.
Are you on the waitlist already, or does the $695 fee have you sticking with the Gold Card for now?
