Robinhood has launched its new Gold Card, targeting Apple Card users with a host of impressive features. This move comes eight months after Robinhood acquired credit card startup X1 for $95 million. The Gold Card offers a suite of premium rewards, including the ability to invest cash-back perks, which could potentially outshine the offerings of the Apple Card.
The Gold Card is available to those who have signed up for Robinhood’s $5-per-month subscription service. In addition to the standard Gold Card, Robinhood is also offering a limited edition version of the card made of 10 karat gold to those who refer 10 others to the product.
The new card comes with several perks standard with upscale credit cards, such as no foreign fees, favorable car rental terms, and warranty protections. It also includes novel features like a dedicated app to help manage spending and the ability to create temporary, disposable versions of the card.
Despite the recent drop in user base, Robinhood hopes that the introduction of the Gold Card and its unique features will attract more users to its platform and compete effectively with other major players in the market.
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