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Robinhood is touting all sorts of benefits with its new card in an attempt to attract users - The card has no annual or foreign transaction fees, and users can earn 3% cash back on all categories, including restaurants and groceries, and 5% cash bank when booking travel at Robinhood’s new travel portal. However, it will only be available for Robinhood Gold members, which costs $5 a month, or $50 annually.
“A user can provide cards to parents, children or caregivers and set the right kind of controls and protection, while also helping them build their credit,” Rao said. “They don’t have to provide any other information than their name and date of birth and Social Security number if they have one. If you’re worried about spending limits, you can put a dollar amount limit and also a child-safe mode for kids.”
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