Robinhood Launches New Credit Card With Cash Back Rewards for Subscription Members

Robinhood launched a new credit card, Robinhood Gold, offering 3% cash back on all purchases and 5% cash back when booking travel through its portal

The card is available to Robinhood's $5 per month subscription service members; a limited edition 10 karat gold card will be offered to those who sign up 10 others

Card perks include no foreign transaction fees, rental car coverage, purchase protections, and disposable virtual card numbers

CEO Vlad Tenev says the card targets Robinhood's growing more affluent customer base as part of its goal to become a full-service financial services provider

The new card follows Robinhood's acquisition of a startup called X1 and recent share price surge, reflecting its rebound after 2021 liquidity issues