Robinhood Markets Inc announced on Wednesday the launch of a new Platinum credit card aimed at high-income customers, marking another step in the fintech firm's effort to broaden its offerings beyond its core brokerage services and to present itself as a provider of a wider set of financial products.
The card will carry a $695 annual fee and is being issued through Visa Inc. Robinhood described the physical card as plated with 99.9% pure platinum and said it will deliver a package of benefits focused on dining and travel.
The Platinum card is being distributed on an invite-only basis. Robinhood also gave users the option to sign up via its website to request access, indicating a controlled rollout rather than an open application process.
This product represents Robinhood’s second credit card offering, following its Gold card introduced in 2024. According to the company, the new Platinum card provides up to five times the credit limits available on the Gold card, an explicit comparison that positions the Platinum tier toward customers seeking larger lines of credit.
Robinhood rolled out the Platinum card as part of a larger slate of product announcements at its Take Flight event. Other items unveiled at the event included several new types of trading accounts, a platform designed to surface tax-related insights for customers, and a service under which the company will pay dividends up to a month in advance on certain eligible securities.
From a product strategy perspective, the Platinum card expands Robinhood’s footprint into premium consumer finance, targeting a demographic willing to pay a substantial annual fee for perceived material benefits and higher credit capacity. The invite-only model and the ability to request access online suggest a staged adoption plan focused on select customer segments.
At a minimum, the offering underscores Robinhood’s continuing effort to diversify revenue streams and to bundle more financial services around its trading platform, while keeping the rollout tightly managed and anchored to Visa’s network.