Robinhood's new, attractive and expensive credit card
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Robinhood's new, attractive and expensive credit card
1–10 of 29 posts
Re: Robinhood's new, attractive and expensive credit card
#2Joined waitlist, thanks for this info.
Personally, I'm more interested in the ez creation of virtual and temp cards to use for certain subscriptions than anything else.
Re: Robinhood's new, attractive and expensive credit card
#3$50/year isn't really expensive though. Even leaving aside the ROI, cards like American Express start at like $500/year and go up from there.
Re: Robinhood's new, attractive and expensive credit card
#4$50/year isn't really expensive though. Even leaving aside the ROI, cards like American Express start at like $500/year and go up from there.
By expensive I think the article means the losses it will generate, rather than the end cost to consumers.
Re: Robinhood's new, attractive and expensive credit card
#5Joined waitlist, thanks for this info. Personally, I'm more interested in the ez creation of virtual and temp cards to use for certain subscriptions than anything else.
privacy.com?
Re: Robinhood's new, attractive and expensive credit card
#6$50/year isn't really expensive though. Even leaving aside the ROI, cards like American Express start at like $500/year and go up from there.
720 euros/year for platinum but you get lot of benefit if you flying quite often. Lot of benefits around restaurants, insurance etc.
Re: Robinhood's new, attractive and expensive credit card
#7$50/year isn't really expensive though. Even leaving aside the ROI, cards like American Express start at like $500/year and go up from there.
The vast majority of Amex's cards are free. You need to get to the top two or three cards to be spending that much.
Re: Robinhood's new, attractive and expensive credit card
#8$50/year isn't really expensive though. Even leaving aside the ROI, cards like American Express start at like $500/year and go up from there.
Reading the article, I think the headline means expensive for Robinhood, not the consumer.
Re: Robinhood's new, attractive and expensive credit card
#9> Sure, the Robinhood Gold membership fee will act as a cushion, but at $5/month, it will only take cardholders around $2,000 to recoup their money. Not a high amount. On top of that, Robinhood is on the hook for 5% APY on uninvested cash. Yes, the uninvested balance is cash that Robinhood can invest and profit from, but will they clear the 5% hurdle every time? I am not sure. Oh, did I mention that they would give 1% back on uninvested balance, in addition to the 5% APY? And 3% IRA matching? Whatever plan they have but don’t share, unsurprisingly, must be really good to make the maths work.
I mean it can easily just be a ponzi, but Robinhood is in the business of selling data, Citadel being their top client
Having spending data to sell is a natural diversification or expansion, as Payment for Order Flow may get regulated away
but even without that, many banks do the expensive thing for a few years and then just change the terms on the account/card, they tend to keep the customers
Re: Robinhood's new, attractive and expensive credit card
#10Unfortunately, it can't be used for business expenses. But that makes sense as they're losing money on the 3% cash back according to the article.