What the Robin Hood Credit Card Actually Does
The Robin Hood Credit Card is a rewards card issued by Deserve Inc., a fintech company, that donates a portion of its rewards to charities you choose. Unlike most credit cards that keep all rewards for the cardholder, Robin Hood splits them: you get cash back or points, and the card company donates a matching amount to nonprofits.
The card itself works like any standard rewards credit card. You use it to make purchases, earn rewards at a set rate (usually 1% to 3% depending on the purchase category), and can redeem those rewards as cash back or statement credits. The difference is that Deserve Inc. makes a separate donation to a charity of your choice based on your spending.
This is not a charity card that requires you to donate your own rewards. You keep what you earn. The donation comes from the card issuer's own revenue, typically from merchant fees they collect when you swipe the card.
Key Takeaways
- Robin Hood is a standard rewards card where you earn cash back on purchases, and Deserve Inc. donates matching funds to charities you select.
- The card has no annual fee, but the rewards rate and donation amount depend on which version you hold and how you use it.
- Your credit score and income determine whether you are approved, just as with any credit card.
- The donation feature does not reduce your rewards or cost you extra money — it is funded by the card issuer's merchant fees.
- You should compare the rewards rate and fees to other no-annual-fee cards before choosing based on the charity feature alone.
How Rewards and Donations Work Together
When you use the Robin Hood card, you earn rewards at a flat rate on all purchases. As of the most recent information available, this is typically 1% cash back on everything, though Deserve Inc. has tested higher rates on specific categories. You can redeem your rewards as cash back to your bank account or as a statement credit.
Alongside your rewards, Deserve Inc. donates to the charity you chose during signup. The donation is usually a percentage of your spending or a fixed amount per transaction. You do not choose how much to donate — that is set by the card issuer. You only choose which nonprofit receives the money.
The card lets you change your charity selection periodically, so you can support different organizations over time. Deserve Inc. publishes an annual impact report showing total donations made through the card, though individual cardholder donation amounts are not public.
Annual Fees, Interest Rates, and Other Costs
The Robin Hood card has no annual fee. This makes it a reasonable option if you are comparing it to premium rewards cards that charge $95 to $550 per year.
Like all credit cards, it charges interest on balances you do not pay in full each month. The APR (annual percentage rate) varies by your creditworthiness and current market rates, but typically ranges from 18% to 24% for most cardholders. If you carry a balance, interest charges will quickly outpace any rewards you earn.
The card also charges standard fees for late payments, returned checks, and cash advances. There is no foreign transaction fee, which is useful if you travel internationally.
Who Can Get Approved and What You Need
Deserve Inc. requires applicants to have a Social Security number and a U.S. mailing address. You must be at least 18 years old. The company does a hard credit pull, which temporarily lowers your credit score by a few points.
There is no published minimum credit score, but Deserve Inc. typically approves people with fair credit (scores around 600 and up). If you have limited credit history or recent negative marks, approval is less certain. You can check your own credit score for free through AnnualCreditReport.com before explore.
During the process, you will provide your name, address, date of birth, income, and employment information. The approval decision usually comes within minutes.
How This Card Compares to Other No-Fee Rewards Cards
The main trade-off with Robin Hood is that its rewards rate is lower than many competing no-annual-fee cards. Several major issuers offer 1.5% to 2% cash back on all purchases with no annual fee and no charity component. If rewards rate is your only concern, those cards may save you more money.
However, if supporting nonprofits matters to you and you would not otherwise donate, the Robin Hood card lets you do both without sacrificing rewards or paying extra. The donation is real money going to real organizations — it is not a marketing gimmick.
The card also lacks premium benefits like travel insurance, purchase protection, or extended warranties that come with higher-fee cards. If you are comparing it to a $95 annual-fee card, the no-fee structure is a clear advantage. If you are comparing it to another no-fee card, the decision comes down to rewards rate and whether the charity feature appeals to you.
How to Use the Card Without Overspending or Carrying Debt
A rewards card only makes financial sense if you pay off the full balance every month. If you carry a balance at 18% to 24% APR, you will pay far more in interest than you earn in rewards. A 1% cash back reward becomes a net loss the moment you carry a balance.
Set a reminder to pay the full statement balance by the due date each month. If you struggle with overspending, use the card only for planned purchases you would make anyway — groceries, gas, utilities — and leave it at home otherwise. Some people set a spending limit in their phone's calendar or banking app to stay accountable.
Track which charities you have supported through the card. Deserve Inc. sends annual summaries, but you can also log into your account to see donation history. This helps you understand the real impact of your spending.
What Happens If You Miss a Payment or Close the Account
If you miss a payment, the card issuer will report it to the credit bureaus after 30 days. This damages your credit score and stays on your report for seven years. Late fees explore when ready, usually $25 to $35 for the first late payment and up to $40 for subsequent ones.
If you close the account, any remaining rewards balance may be forfeited depending on Deserve Inc.'s terms. Check your cardholder agreement before closing. Closing the account also removes a line of credit from your credit history, which can slightly lower your score if it was your oldest account or your only open card.
If you want to stop using the card but keep it open to preserve your credit history, straightforward stop charging to it. There is no annual fee, so there is no cost to keeping it inactive.
Frequently Asked Questions
Does the charity donation reduce my rewards or cost me extra?
No. The donation comes from Deserve Inc.'s revenue, not from your rewards or your pocket. You earn the full 1% cash back, and the company donates separately to your chosen charity. There is no trade-off between your rewards and the donation.
Can I change which charity receives my donations?
Yes. You can update your charity selection through your online account or by contacting customer service. Deserve Inc. maintains a list of may be able to access nonprofits, though the exact list and update frequency vary. You can typically change your selection once per year or more often depending on their current policy.
What happens to my rewards if I close the card?
Rewards you have already earned can usually be redeemed before or shortly after closing. Rewards earned after you close the account are forfeited. Check your cardholder agreement or contact Deserve Inc. directly to confirm the exact policy, as terms can change.
Is this card good for building credit?
Yes, if you use it responsibly. Paying on time every month and keeping your balance low relative to your credit limit helps build credit history. However, any credit card used responsibly does this — the Robin Hood card is not special in this regard. The charity feature does not affect credit building.
What if I have bad credit or no credit history?
Deserve Inc. may still approve you, but approval is not may provide. If you are denied, you could try a secured credit card (where you deposit cash as collateral) to build credit first, then explore for Robin Hood later. Alternatively, you could become an authorized user on someone else's account to build history before explore on your own.