Robinhood gold Card

[AJK]

I can’t understand what all the fuzz is over this card? Apple has had for a long time a credit card with 3% cashback and no fees.

You can't understand because you have a fundamental misunderstanding of either Apple's offering, Robinhood's offering -- or both.

Apple offers 3% at a very select group of merchants. See below.

RH will offer it *everywhere.*

[Mareh Makom]

Jewish question here- How is robinhood making money of this card?

[Shaulj]

Looking for a cash back CC would this one be better than chase ink Premier?

[themanlibs]

Looking for a cash back CC would this one be better than chase ink Premier?

yes better. Effective annual fee is 50/yr and 3%. Chase ink premier 2% and 195/yr

[Dan]

Jewish question here- How is robinhood making money of this card?

It's not sustainable, but it will do wonders for the stock in the short term before the losses come in.

[DaasTora]

It's not sustainable, but it will do wonders for the stock in the short term before the losses come in.

Looking at the current debt situation in the USA they might make some good money off APR.

[Shaya E]

It's not sustainable, but it will do wonders for the stock in the short term before the losses come in.

It obviously isn't sustainable from a CC perspective. But I really have no idea what the margin of profit per client using their brokerage is. The profit gains in increased brokerage gains and Gold subscriptions might be a lot greater than the loss on the credit card side. I guess we'll see...

(I know that you technically don't have to use them as your brokerage. But anyone already paying for Gold and forced to cash out via RH is very likely to just start using them as their brokerage)

[Mareh Makom]

It obviously isn't sustainable from a CC perspective. But I really have no idea what the margin of profit per client using their brokerage is. The profit gains in increased brokerage gains and Gold subscriptions might be a lot greater than the loss on the credit card side. I guess we'll see...

(I know that you technically don't have to use them as your brokerage. But anyone already paying for Gold and forced to cash out via RH is very likely to just start using them as their brokerage)

Right, i would assume they are taking a loss on the card (or breaking even?) and making money on the amount of new robinhood users

[shmoe joe]

You can't understand because you have a fundamental misunderstanding of either Apple's offering, Robinhood's offering -- or both.

Apple offers 3% at a very select group of merchants. See below.

RH will offer it *everywhere.*

Thanks for you fundamental explanation but here you have a c/p of Apple site “Get up to 3% Daily Cash back on every purchase you make. It’s real
cash, it’s unlimited, and you get it every day.” and their version is fundamentally different than yours!!

[AJK]

Thanks for you fundamental explanation but here you have a c/p of Apple site “Get up to 3% Daily Cash back on every purchase you make. It’s real
cash, it’s unlimited, and you get it every day.” and their version is fundamentally different than yours!!

No it isn't. Read it closely.

"Get up to 3% Daily Cash back . . . ."

[CountValentine]

Thanks for you fundamental explanation but here you have a c/p of Apple site “Get up to 3% Daily Cash back on every purchase you make. It’s real
cash, it’s unlimited, and you get it every day.” and their version is fundamentally different than yours!!

Do you understand one is on select categories/stores and the other is on all categories/stores?