Podcast: Robinhood Gold 3%: Too good to last? | Coffee Break Ep06 | 4-2-24


Recently Nick wrote about a new credit card from Robinhood that will apparently offer a flat 3% back on most purchases. On this coffee break episode, we speculate as to whether or not this is too good to last.

Watch the full coffee break episode here, or click the timestamps below to navigate directly to a specific part of the episode in YouTube.

Coffee Break: Robinhood Gold 3%: Too good to last?

(0:30) – Robinhood Gold Card (and Gold membership)

(02:37) – Read more about Robinhood Gold, the Robinhood Gold card, and the promo here.

(04:21) – IRA match

(06:57) – Amazing referral deal: actual 36c 10K Gold credit card or $1,100 with 10 referrals who sign up for Robinhood Gold and pay at least their first monthly or annual subscription fee.

(11:57) – What about the whole Gamestop thing?

(14:50) – Is Robinhood safe to keep money in?

(15:50) – Is this too good to last?

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Music Credit – Beach Walk by Unicorn Heads

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I’d be wary of forming an opinion about Robinhood based on the “Dumb Money” movie. It’s entertaining but clearly had an agenda to portray it as good vs evil. The real issue is that Robinhood tends to skate close to the edge with their financial capabilities and thus can put themselves in a position to not fulfill those obligations in a satisfactory manner. This feels like a similar situation where if it all goes perfectly, everybody wins. If not, well, it won’t be the first time a Robinhood user feels disappointed.


Thank you for that. Question: if I stay under the $500k SIPC limit I would be fine even if they have problems, correct?


Yes, my comment was more referring to the durability of the 3% cash back with only a $5 monthly Gold membership. They are clearly banking on the idea that luring more customers into the ecosystem will entice them to do revenue positive things for Robinhood. The IRA bonus should be just fine.

Last edited 9 days ago by RH2