On any list of the most exclusive credit cards, the Robinhood Platinum card would make an appearance. Its $695 annual fee and upscale perks put it on par with other premium credit cards on the market.
As of August 2026, though, the card isn’t open to general applications: Like its little sibling, the Robinhood Gold card, the Platinum is available by invitation only.
And before you request your invite, you’ll want to take a good look at the Platinum’s laundry list of credits. The card very much follows the “coupon book” trend that was started by other premium cards, and using those benefits is key to offsetting the card's hefty fee. But like traditional coupons, these perks have expiration dates, exemptions, and eligibility requirements that can make them more of a headache and less of a way to squeeze value from the card.
Here are five things to know about the Robinhood Platinum card, issued by Coastal Community Bank.
1. Access is limited
As noted earlier, the Robinhood Platinum card isn’t widely available (yet). If you want a chance at applying, you can input your email address on the card’s website to request access.
If you have your sights set on a premium credit card, other solid options are gettable right now — as long as your credit scores are high enough. For example, the $795-annual-fee Chase Sapphire Reserve® is a solid alternative to the Robinhood Platinum. It has some of the same benefits as the Robinhood Platinum, like lounge access and travel credits, plus a generous welcome bonus: Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Unlike the Chase Sapphire Reserve®, the Robinhood Platinum doesn't have a welcome offer.
2. Reward rates favor heavy travel spenders
The Robinhood Platinum card's reward rates range from 5x to 10x points, depending on the category. Note that the best rates are reserved for travel booked through Robinhood’s travel portal. If you don’t like being tied to that particular booking platform, you stand to lose a lot of value from this card. The Robinhood Platinum earns the following rewards:
- 10x points on hotels and rental cars booked through the Robinhood Travel Portal.
- 5x points on dining, up to $50,000 in annual spending. After that, the card earns 1x.
- 5x points on flights booked through the Robinhood Travel Portal.
- 1x points on all other purchases.
Points may be redeemed for a deposit into a Robinhood brokerage account, gift cards, travel, statement credits and more. The value of one point varies depending on the redemption option, but points are generally worth an industry standard penny each when redeemed for cash back as a deposit into a Robinhood brokerage account.
3. Fees are a tale of two extremes
There’s no ignoring this card’s $695 annual fee, one of the highest on today’s market.
On the other hand, the card doesn’t have a penalty APR, balance transfer fee, foreign transaction fee or authorized user fee, which is unusual for a card at that price point.
However, if you add an authorized user to the Robinhood Platinum card and want them to have some of the card’s benefits, you’ll owe as much as $395. In exchange, your authorized users can get complimentary memberships to Function Health, Amazon One Medical, Oura and Priority Pass Select. They’ll also get an application fee credit for Global Entry or TSA PreCheck.
4. Credits can offset the annual fee — but read the fine print
The Robinhood Platinum card is loaded with various credits that can more than make up for its annual fee. But take the time to learn each credit’s terms and conditions to understand how it works. Otherwise, you may lose out on hundreds of dollars in value.
Case in point: The card offers an annual $700 travel credit, but that credit is dispersed biannually in $250 increments. The remaining $200 is an on-property credit, dispersed in $100 increments per hotel booking. The travel credit only applies to premium hotel bookings made within Robinhood’s travel portal. Lastly, a two-night stay is required.
Many of the card's other credits also feature onerous fine print:
- $250 annual dining credit ($20 credit every month and $30 in January). Credits are only valid at participating restaurants.
- $300 annual flight credit ($150 every six months). Flight must be booked directly with an airline or in Robinhood’s travel portal.
- $250 annual Waymo ride credit ($20 credit every month and $30 in December).
- $239 annual WHOOP credit. The credit may be used to pay for a WHOOP membership, which costs between $199 and $359 per year, or other eligible WHOOP purchases. Purchases must be made by Dec. 31, 2027.
The Robinhood Platinum card’s remaining benefits are more straightforward and easier to use.
- Annual Robinhood Gold membership.
- Annual Function Health membership. (Residents of Hawaii and Rhode Island are not eligible.)
- Annual Priority Pass Select membership.
- Annual Amazon One Medical membership.
- DashPass membership.
- Up to $120 in annual DoorDash promos, issued monthly in $10 increments with no minimum order size required.
- Up to a $120 credit every four years toward Global Entry or TSA PreCheck application fees.
- Up to a $200 annual credit toward qualifying wearables.
- Access to concierge via text.
True to its name, the Robinhood Platinum card is platinum-plated and weighs 27 grams. Plus, it offers credit limits up to five times higher than those on the Robinhood Gold card.
