In June of final yr, Robinhood introduced it was buying the bank card startup X1.
In the present day, we discovered concerning the fruits of that transaction: a brand new Gold Card from Robinhood.
This new card is a premium bank card that prices $5 per 30 days or $50 per yr and is barely obtainable to Robinhood Gold members.
The cardboard does include an inventory of priceless advantages. The primary attraction is 3% money again on each transaction and there’s additionally 5% money again when reserving journey via the Robinhood portal. The cashback may be transferred to brokerage accounts for inventory purchases.
The large query, as Simon Taylor identified on X at this time, is can Robinhood make cash with this card? He argues this seems to be extra like a loss chief however Robinhood will use the cardboard to cross-sell its different merchandise.
Both approach, Robinhood has firmly planted a stake within the floor within the premium card market. Proper concurrently the Visa-Mastercard settlement that might affect premium playing cards…
Featured
> Robinhood’s new bank card goes after Apple Card with means to speculate cash-back perks
By Mary Ann Azevedo
Eight months after buying bank card startup X1 for $95 million, Robinhood introduced at this time the launch of its new Gold Card, with an inventory of options that might even give Apple Card customers envy.
From Fintech Nexus
> Turning funds right into a worthwhile income stream for vertical SaaS
By TX Zhuo
Funds are more and more on the middle of the quickly increasing vertical SaaS market.
Podcast
> Julie Szudarek, CEO of Self Monetary on constructing credit score
The CEO of Self Monetary talks concerning the significance of constructing credit score rating, monetary literacy and the way a credit score…
Additionally Making Information
To sponsor our newsletters and attain 180,000 fintech fans together with your message, contact us right here.
