On March 4, Robinhood unveiled its new premium credit card, the Robinhood Platinum Card, featuring an annual fee of $695. This latest offering aims to compete with established luxury rivals like the American Express Platinum Card®, which charges an $895 annual fee. This marks Robinhood’s second foray into the credit card market, following the announcement of the no-annual-fee Robinhood Gold Card in March 2024. Deepak Rao, General Manager and VP of Robinhood Money, emphasized that the Platinum Card “raises the bar for what customers should expect from a premium credit card.”
According to Robinhood, cardholders can unlock over $3,000 in value annually; however, some statement credits may cater to niche interests, potentially limiting their appeal. The card does provide traditional travel perks, such as credits for Global Entry or TSA PreCheck and access to Priority Pass lounges, although it lacks access to exclusive lounge networks similar to those offered by American Express.
At present, the Robinhood Platinum Card is available on an invite-only basis, with potential users encouraged to submit their email to request access. In a comparison to the Amex Platinum Card, CNBC Select conducted an independent review, asserting that the Robinhood Platinum Card is best suited for dedicated Robinhood users.
The Robinhood Platinum Card provides 5% cash back on dining purchases, 10% on hotels and rental cars booked through its travel portal, and 1% on all other eligible purchases. While it showcases a robust cash-back rate for dining, the flight rewards are limited to purchases made via Robinhood’s portal. Contrastingly, the Amex Platinum offers Membership Rewards® points, which can be accumulated and used more flexibly for various travel advantages.
Most notably, the Robinhood Platinum Card lacks a welcome bonus, which is a common feature in premium cards and is something that the Amex Platinum offers-up to 175,000 Membership Rewards points after spending $12,000 in the first six months. This bonus translates to significant potential travel value, unlike the more straightforward cash-back system of the Robinhood card.
Both cards come with an array of statement credits. The Robinhood Platinum includes $250 annually for dining and DoorDash, $300 for travel, and a $200 credit for health wearables, among others. Meanwhile, the Amex Platinum boasts more extensive benefits, including a $600 hotel credit, $400 in dining credits, and up to $200 airline fee credits, offering greater flexibility for frequent travelers.
When it comes to lounge access, the Robinhood Platinum grants Priority Pass membership, providing access to over 1,800 lounges worldwide. In contrast, the Amex Platinum includes access to exclusive Amex Centurion lounges, Delta Sky Clubs for travelers on eligible flights, and a comprehensive airport lounge network.
Both cards come with high annual fees, though the Robinhood card allows users to add authorized users at no extra cost, while the Amex charges an additional fee for each new cardholder. For those who prioritize premium perks for authorized users, the Amex may be the better choice.
In summary, while the Robinhood Platinum Card offers considerable value for existing Robinhood customers, the American Express Platinum Card presents a broader array of travel benefits and more flexible rewards. Those looking for extensive perks and a welcome bonus may find greater value in the Amex Platinum, whereas Robinhood users may opt for the new Platinum Card to enhance their investing experience.
For potential credit card users weighing their options, both cards deliver valuable benefits; however, the decision ultimately depends on specific needs and spending habits. The Robinhood Platinum Card caters to the financial empowerment of its users, while the Amex Platinum leans heavily into luxury travel benefits.
Tags: Robinhood, Premium Credit Card, Amex Platinum, Cash Back, Travel Perks
Original Source: https://www.cnbc.com/select/robinhood-platinum-vs-amex-platinum/
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Publish Date: 2026-03-10 04:59:00
