The Robinhood Credit Card: The Best Credit Card Ever? (Watch BEFORE You Get It)
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- čas přidán 26. 03. 2024
- The Robinhood Credit Card: The Best Credit Card Ever? (Watch BEFORE You Get It)
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SOURCES:
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api.robinhood.com/creditcard/...
api.robinhood.com/creditcard/...
Dave Hansen unboxing video: / @heytheredavehere
*None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
Join the waitlist here: robinhood.com/creditcard?referral_code=4dde0f0f
You're probably going to mention this later in the video. But the perks they are offering could all go away. Some of them or even most of them could just be short term gimmicks to get people to sign up to the card.
I joined the waitlist but I bet it will be a WHILE until they release it to non-influencers.
You said “goldmember” without blinking
Keep growing your portfolio sir
Wave your hands more when you talk. It's not weird at all.
Can you trust the Robinhood card? Sure.
Can I be trusted with this card? Absolutely not.
LOL, know thyself
For those already on Gold, its a no-brainer. To others, it's hard to justify.
Please elaborate.
Seems pretty justifiable….
@@marcshepherd5899I think he is trying to say get the credit card if you already have gold, but otherwise it is a tough sell
@@marcshepherd5899 in order to get this card you'll be paying the Gold membership cost so unless you can recoup the cost with additional percent compared to other no-AF cards it's not worth it.
Don't forget to add in the cost of the hard pull in your credit report.
Andre I’m 19 your videos have fueled my love for the market , watched before I was 18, on my birthday I applied for my account been dollar cost averaging & listing to ur advice and just trying to run up a bag , appreciate u bro
I’m on the waitlist. Just waiting for videos like this to get my info!
Same
There is no annual fee, but there sort of is one - you pay the $5 / month for Robinhold Gold.
@@k-mart7475 better than the $695 I'm paying for my platinum card with less benefits. 🤷
True, but if you take advantage of the high interest rate you get from holding cash in RH, that fee is basically nothing - in fact, you can make money off of it if you hold enough cash there.
Yes absolutely!
You get 1k interest free leverage which can be used to buy bonds at no risk and recoup most of the cost
Or, get a fee-less credit card and keep the cash from your so-called "high interest rate." Seriously, Andre...why are you selling this? "Oh, well if you just put some money into their matching IRA, then it pays for the costs of RHGold." (paraphrasing) Or, you could get a credit card without a fee and KEEP the money matched by RH in the IRA. C'mon, Andre. You're not stupid. This credit card is just so RH can make money off of it's clients who don't pay off their balance every month. Be honest, did they pay you to promote this product? If people like using RH, so be it. But don't justify spending money for the "privilege" of using their credit card when that money could be retained by choosing a no-fee card with comparable - if not better - rewards. And NO ONE should every choose a credit card based on how it looks or how they think others will perceive them. That's financially irresponsible and a mere marketing tactic. "Use our card 'cause you'll look cool." F***ing insulting to the intelligence of retail investors. @@AndreiJikh
Thank you for your awesome insights. I watch every one of your videos knowing I will get detailed honest information. Keep up the great work Andrei!!!
Appreciate you having the balls to tell us the details and some of the downsides.
I only use the travel portals for car rentals. You usually get a free car upgrade and insurance is covered.
Good tip here !
Thanks AJ, for taking the time to explain this card/gold.
Good job going deep into this card, I feel like some of the other cards have easier access to these benefits
What happens if you have the credit card, and then you decide to cancel Robinhood gold? Do you lose access to your card?
I have a time slot, almost every day, allocated to watch finance videos, and that's when I browse my subscribed channels on CZcams and pick up the most interesting videos. Your videos are usually the first to be picked up.
Really, you became really good at providing good financial content, with a lot of enthusiasm and entertainment. And this video is another good example from which I was able to be informed and laugh.
I hope you never get tired of it and continue publishing. (And I wish I found someone like you to create this kind of content more Europe related.)
Thanks a lot!
If you sign up for Gold, get the card, and then cancel Gold will they cancel your credit card? If so that could mess up people's credit scores.
They'll like just pause transactions or just pause your cashback feature.
Thanks for this dive in. Was contemplating this myself.
One benefit you may have missed. I have to pay taxes at the end of the year because I am 1099'ed. And I need a place to store 20-30% of my income until tax day. So I can put it in robinhood. That can help pay the monthly fee from the APY income :)
Love your videos Andrei! Thank you for always making it easier for us to understand.
Hi Andrei. I don't really know anything about finances or investments. Do you know any way to start somewhere for 1-5 Dollars? I am not working right now and the government sucks at getting money to you. That's why I need a low low low investment. Just thought I would ask since your knowledge is very informative. Thanks
wow i thought no one would ever do a video on this. Thanks Andrei.
You bet!
Can I use this card for business purchases? Of does the terms lower the cash back for that?
The CFA chick head nod…and even better your follow up 😂
8:50 the entire point of the travel points game is to bypass the travel portals by transferring to the travel partners and booking direct with the travel companies
Is the Robinhood gold account still giving the first 1000 in margin for free? I didn’t see it in the gold perks listed in their app.
Everyone is offering juicy rewards now. Once the Fed drops their rates, all these predatory companies will drop theirs too. You'll be paying $84/year and 30% APR for 0.05% cash back
I think one question that I havent seen answered is that will the credit card stop working once we dont renew robinhood gold after a year?
Андрей твои видео самые лучшие, спасибо! Andrei’s videos are most comprehensive and informative!
Тоже мне нравится многие шутки его. 🙃
I like his jokes too.
Ok, so what's up with your prior (X1 card) is it replaced with the new style card or you get this new product ?
Hi Andrei! Hope all is well today! ❤
You too!
Thanks was really curious about the card, you really did all the work for us. That percentage is the only thing that really puts a stinger on the deal. One mistake and you get owned.
So if you don't have money in there and your gold membership is due, will it just charge you the huge percent? or will it pull out of your bank account, or warn you first?
You’ll most likely have to connect a bank account for your subscription, otherwise it will charge your card and you’ll need to make sure that you make the payment on it
Hey Andrei can you do a video on credit cards you recommend. Not really for credit building but for rewards.
Technically an annual fee if you sign up for gold to get it, but kind of like no annual fee if you already have gold.
The bank they’re partnering with makes the interest from late payments, not robinhood or visa.
what if i get the card in hand and then cancel my robinhood gold? Will be card automatically get canceled too?
Hey Andre - great vid! Especially that hand model holding gold the card 3:05 lol. FYI, I confirmed with Robinhood that the Gold plan is actually $5/mo or $50/yr on annual membership. The fees listed on their website are outdated 🙄 lots of math
Thanks man! Love your hand modelness. I’m jelly you got the card, looks so cool!
The two ✌️ of you are awesome. Considering moving to robin hood with all these matches.
Could we not just pay the one time monthly fee to get the card, and then cancel our gold membership thru robinhood but still have/use the card?
Btw what's up with the wierd "zoom in, zoom out" focus thing on the rest of the video, which is not in the middle? :)
u should mention they bought the X1 credit card, which was the stainless steel (silver) version. So this is their "wet" feet into credit sector.
The gold joke in the beginning was legendary!!
Any chance you know how long it takes to get one? I’m on the waitlist but not sure if I should wait long?
My father in law has been asking for a card that gives true cash back not rewards. His company has him buy 10-15k worth of material and they reimburse him. It’s mostly at like home improvement stores, plumbing, etc. would this be a good card for him or do you have a better suggestion
Well done. Thanks for explaining👍
My pleasure!
Only pushback against his argument about credit card points. If you use them through the travel portal it’s not great, but there’s huge upside if you’re willing to look at transfer partners for your points. That can easily make each point worth 2+ cents if you know what you’re doing. To his point though, definitely time intensive hobby, but it could be a way to “invest” if you invest what you would have spent otherwise
Do you have any idea when they will release the card?
Great question, I don't think they gave us a date!
What kind of security measures arw you taking when using Robinhood? VPN? viruse software? Anything you use would be a great help.
Just saw it this AM, joined the list. Love that same day one of my favs (yes you) made a video! Thanks Andrei
Awesome! Thank you!
With all the hand waiving, the autofocus was really putting in work on this video.... 🤣
I’ve just come across your channel so you may already have a video on this. Have you done a commentary on the movie Dumb Money about the brotherhood app? I would be very interested in what you have to say about that
I knew you was going to make this video thanks andrei
Hope you enjoyed it!
He always comes true!!!
😁😁😁😎😎✌️
Got a robinhood gold ad while he was exposing their secrets lol
Dude love ur vids. This was a great too but pleaseeee change the trend on CZcams of the concerned face thumbnails. PLEASE!!
How does the expression go... "don't hate the player, hate the game!" Unfortunately I don't make the rules ha!
@@AndreiJikh fair enough. 😎 keep up the good work yo!
What if you cancel your robin hood membership. Would you lose access to the card or perks?
I love goldddd
Especially no taxes
Credit card tricks are something that should be considered 😂
I’m confused. I’m on the waitlist and I do not have gold or anything
You're right, those points are way too much effort to keep up with. Cash back is so much easier to manage
I prefer the Amex and Discover
Can people outside USA can ask for this card?
How do I switch my membership to yearly
SO LOOKING FORWARD TO THIS CARD 🔑 Just Signed Up For Apple Platinum Card Few Days Ago, But This Tops The Cake 🙌🏻
Is there a referral thing where you get a credit card made of real gold?
Is it available in Australia?🧐
Isn't T+2 turning into T+1 in May? Should cover that in a video, btw.
Love most of your videos. This one views like a commercial for Robinhood. Is this a paid ad or sponsored video?
Nope, not paid or sponsored - but I should be! :P
I'm in line for it and planning tossing my Amex Platinum card for it.
Do you pay the balance on Robinhood or through the issuing bank?
Thanks for the video.
Not gettinf it now 😂
So if we sign up for the card, when do we get it?
Andrei, you ever talk about your watches? I see some beautiful pieces flashed from time to time...
I'd like to someday! Not sure if that's too niche
What happens if you unsubscribe from gold?
You could just sign up to get the card and then unsubscribe again
Can I send my Robinhood card points to Chase Sapphire reserve points? I don't wanna cash out at RH itself.
I’m scared to use it because there’s no customer service number if you have problems! And it’s not a bank
Thank you for this video!
What if you sign up for RH Gold, get the card and then cancel the Gold membership?
Hey man, I just wanna opine that uninvested cash sitting in you Buying Power just makes you more likely to impulse invest
Available at Canada ?
You used the chikfila chick😂😂😂
true on traveling points
8:30 you’re spot on!!!!! Don’t get fooled with the credit card booking system
I wonder what happens if you sign up for gold, apply for the credit card, then cancel gold after you get it.
So effectively you have a credit card with no benefits
Robinhood aquired x1 and this card looks identical to it
with the chase portal I've always seen prices the same
for redeeming points, best is transfering to a partner to redeem from airline directly
Lets go!!! cant wait for the gold!
How did you get the annual fee to be $84? -- are they increasing the monthly fee of robinhood gold to $7/mo couldn't it be paid for $50/yr????? Or did I miss a new update for the gold with the credit card
It is only $5 a month, says so on their app. The also have a discount yearly option for $50 a year
Been searching on how to pay yearly but can't find a way.
@@Pazman1969 I currently have the free version and when I tap on try gold inside the app the monthly option and discounted yearly option appear. To my knowledge that should be the case regardless of phone type but it might be more complicated to do so before actually having the app
You should do a “best cash back credit card 2024 edition” video!
Winning video, Andrei. Thanks!
you know its just an affinity card. Coastal Bank is the one who actually does the banking and offers the service. or lack there of.
He mention that in the video.
6:40 those calculations didn't take into account of taxes I am guessing.
Hey Andrei, love your videos
hi! Thank you!
I agree with you on the point system. I don't really care for them.
Magic
Why are some people still an the waiting list
what if you join Robinhood gold to get the card and then cancel your Robinhood gold membership? do you get to keep the card or do they close it?
that's a great question, my assumption is they wouldn't let you use the card unless you're a gold member
ya know... last time you did a video on a credit card it was with blockfi.. hope this isnt a repeat of what happened there...
Yep, that's true! Although what happened to BlockFi wasn't just unique to BlockFi - it happened to the entire crypto industry. Imagine you let your friend borrow $5, and then his friend borrows that $5, and so on and so forth. Then you get to the 10th friend who gambles that $5 and loses it (meanwhile I call my friend to get my $5 back). Who has the money? The point I'm making is it was an industry wide thing that happened - not a one off thing
Need that card! I signed up for it immediately 🤩
you are on point. thank you!
We need a trax andrei collab
Another power video
Thanks! I like Robinhood - easy to use.
what about coinbase card?
Ok hold the phone, we're just glancing over burner card numbers?!?! That's insane haha
We’ll be lucky to get one rate cut this year. I doubt we’ll see more than one. It could possibly be none.