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Robinhood’s new credit card goes after Apple Card with ability to invest cash-back perks
Eight months after acquiring credit card startup X1 for $95 million, Robinhood announced today the launch of its new Gold Card.
Robinhood, better known for its brokerage app aimed at the everyday investor, is touting all sorts of benefits with its new card in an attempt to attract users. “A user can provide cards to parents, children or caregivers and set the right kind of controls and protection, while also helping them build their credit,” Rao said. Obviously, Robinhood will earn interchange revenue from the credit cards, standard transaction fees paid by the merchants.
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