More Updates For Robinhood Platinum
The Robinhood Platinum Card is now live for invited users - and the card got several upgrades since the initial March 2026 announcement.
Earnings rates are still the same:
5% cash back on dining
5% cash back on flights
10% cash back on hotels and cars
1% cash back on everything else
Dining is capped at the first $50,000 of spend and then earns 1% after.
Flights, hotels, and cars must be booked in the app and are advertised as having "no markups with no added or hidden fees".
Updated credits now include:
$300 flight credit ($150 every 6 months)
$700 hotel credit ($250 every 6 months + $100 credit on-property, minimum 2-night stay)
$469 Priority Pass Membership
$120 Global Entry/TSA Precheck® fee credit
$250 Waymo credit (split into monthly)
$250 Select Restaurant credit (split into monthly)
$120 DoorDash credit (spilt into monthly)
$120 DashPass Membership
$239 WHOOP Peak Membership
$365 Function Health Membership
$199 Amazon One Medical Membership
$50 Robinhood Gold Membership
Many of these credits are split up into semiannual or monthly credits - making it more challenging to fully offset the $695 annual fee.
The health and wellness benefits genuinely do seem valuable for select users on things like Function Health, WHOOP, and Amazon One Medical memberships.
But here’s three reasons we are passing on the Robinhood Platinum for right now:
1️⃣ Capped Redemption Values
5% back on flights and dining sound great, but redemption options are limited.
Statement credits, gas savings, and Amazon checkout all redeem for less than 1 CPP - gift cards and Robinhood brokerage cash back offer an even 1 CPP.
In comparison, this card earns 4X back on dining. But if you can redeem those points at 2 CPP, then that would be an 8% return on spend.
Same thing for this card which earns 5X back on flights directly. But again, redeeming at 2 CPP would be a 10% return on spend.
2️⃣ No Sign Up Bonus
$695 annual fee and no welcome offer? Rough! 😬
3️⃣ Unclear Terms
Holding both the Robinhood Gold and Robinhood Platinum was not possible during the original announcement.
We then searched terms, rewards, and FAQs - but we could not find any clear information anywhere on Robinhood's website.
When prompted to upgrade to Platinum, the only thing we could find was:
If you’re an existing Gold Card holder, you don’t need to provide any additional information.
The Robinhood Gold Card actually is one of our favorite cash back credit cards, so getting rid of that to get the Robinhood Platinum would not be worth it to us.
Overall, the Robinhood Platinum Card wants to be a premium travel credit card in the worst ways...
But the reality is that this just a cash back card that has too many things going on and too high of an annual fee.