The Robinhood Credit Card gives you cash back on purchases and waives certain fees, but it is not a premium card in the traditional sense

Robinhood offers a cash back credit card through a partnership with Deserve Inc., the card issuer. The card returns 1.5% cash back on all purchases with no annual fee, no foreign transaction fees, and no penalty APR on late payments. It is designed for people who already use Robinhood's brokerage platform and want a card that integrates with their investing account.

The card does not offer travel protections, concierge services, or the lounge access you would find with premium cards from American Express or Chase. Instead, it focuses on straightforward cash back and low friction — the cash back deposits directly into your Robinhood account, where you can invest it or withdraw it. If you are comparing this to cards that cost $95 to $550 per year, this is a different product category.

Key Takeaways

  • The Robinhood card returns 1.5% cash back on all purchases and has no annual fee or foreign transaction fees.
  • Cash back deposits directly into your Robinhood brokerage account, where you can invest or withdraw it.
  • The card has no penalty APR on late payments, but you still owe interest at the regular APR if you carry a balance.
  • You must have a Robinhood account to open the card, and approval depends on your credit history and income.

How the cash back works and where it goes

Every purchase you make earns 1.5% cash back. Unlike most cards, which deposit cash back into a statement credit or a separate account, Robinhood deposits your cash back directly into your Robinhood brokerage account as cash. From there, you can leave it sitting, withdraw it to your bank account, or use it to buy stocks, ETFs, or crypto.

This structure appeals to people who are already investing through Robinhood and want to automate the flow of cash back into their portfolio. If you are not a Robinhood user or do not plan to invest the cash back, a card that offers statement credit or a direct bank deposit might suit you better.

Fees and interest rates

The card has no annual fee, no foreign transaction fees, and no penalty APR. The last point is unusual: if you miss a payment, Robinhood will not raise your APR as punishment. However, you still owe interest at your regular APR on any balance you carry, so missing a payment still costs you money.

The regular APR varies based on your creditworthiness and is disclosed when you receive your card. Like all credit cards, if you pay your full balance by the due date each month, you pay no interest at all, regardless of the APR.

Who can open the card and what you need

You must have a Robinhood account to open the card. Robinhood requires you to be at least 18 years old, a U.S. citizen or permanent resident, and have a valid Social Security number. You will also need a bank account to link for payments.

Approval depends on your credit history, income, and existing debt. Robinhood and Deserve Inc. will pull a hard inquiry on your credit report, which may lower your credit score by a few points temporarily. If you have limited credit history or a low score, you may be denied or offered a lower credit limit.

How this card compares to other cash back options

Most cash back cards return 1% to 2% on purchases, so the 1.5% flat rate is competitive but not exceptional. Cards like the Chase Freedom Unlimited and Citi Double Cash also offer 1.5% to 2% with no annual fee. The difference is where the cash back goes and what else the card offers.

If you want travel protections, purchase protection, or extended warranties, those come with premium cards that charge annual fees of $95 and up. The Robinhood card does not include those benefits. If you want simplicity and low cost, and you are already using Robinhood to invest, the card is straightforward. If you want maximum cash back or travel benefits, you may find better value elsewhere.

Integration with your Robinhood account

The card is designed to work seamlessly with your Robinhood brokerage account. Cash back appears in your account as cash and can be used when ready to buy investments or withdrawn to your bank account. You can also view your card activity and statements through the Robinhood app, which consolidates your investing and spending in one place.

This integration is useful if you are already checking your Robinhood account regularly. If you do not use Robinhood for investing, you will need to open an account just to use the card, which adds a step compared to a standalone cash back card.

Frequently Asked Questions

Do I have to invest the cash back I earn?

No. The cash back deposits into your Robinhood account as cash, and you can withdraw it to your bank account at any time. You are not required to invest it, though the structure encourages you to do so.

What happens if I do not have a Robinhood account yet?

You will need to open one before you can open the card. Robinhood's account opening process takes a few minutes online and requires your Social Security number, date of birth, and bank account information for linking.

Is there a sign-up bonus?

Robinhood periodically offers sign-up bonuses for the card, but these vary and are not permanent. Check Robinhood's website or app to see what is currently available when you explore.

Can I use this card internationally?

Yes. The card has no foreign transaction fees, so you can use it abroad without paying extra charges. The exchange rate applied is set by Visa or Mastercard, depending on which network your card uses.

What if I carry a balance and miss a payment?

You will owe interest at your regular APR on the balance. Because there is no penalty APR, your rate will not increase, but you still pay interest on what you owe. Paying on time avoids interest entirely.