Robinhood Gold Card...the BEST new card of 2024?

 In this Article, the speaker offers a detailed and critical review of the new Robinhood Gold Credit Card, evaluating its features, drawbacks, and whether it lives up to its promises. Here's a summary:

• Introduction: Robinhood has entered the credit card market, but given their controversial past, the speaker is skeptical. The review will evaluate the card in terms of its bonus, earnings, benefits, and fees, using the "JFS scale" (0-5) for each category.

• Section 1: Sign-Up Bonus: The Robinhood Gold card offers no sign-up bonus, which is a big drawback in the credit card space, resulting in a 0/5 JFS rating.

• Section 2: Earnings: The card offers 5% cashback on travel booked through Robinhood's portal and 3% cashback on all other purchases without any limits, which is unique and earns a 5/5 JFS.

• Section 3: Benefits: Some solid perks include no foreign transaction fees, auto rental insurance, and return protection. However, the benefits are not extraordinary, earning the card a 4/5 JFS.

• Section 4: Annual Fee: While the card claims to have no annual fee, you must be a Robinhood Gold member, which costs $50-$60 annually. This misleading presentation knocks down the initial 5/5 rating to 3/5 JFS.

• Final Verdict:

• Pros: Unlimited 3% cashback is compelling, and the card's metal design appeals to some.
• Cons: Robinhood's questionable past, their reliance on smaller banks for issuing, and potential issues with customer service are red flags.
• Should you get this card? Mathematically, it only makes sense if you spend over $5,000 per year; otherwise, you might be better off with other cashback cards that offer sign-up bonuses.

The speaker concludes by expressing concern over Robinhood targeting financially vulnerable users, pointing out that while the card could offer benefits, it's crucial to be cautious given the company's history and intentions.