Robinhood Unveils New Platinum Card Offering $250 Autonomous Ride Credit, TSA PreCheck Access, Cashbacks—Here's What You Need To Know

Trading level Robinhood Markets Inc. has unveiled a caller platinum paper that offers incentives for autonomous ride-hailing services, entree to the Transportation Security Administration's (TSA) PreCheck installation and more.

On Wednesday, the institution announced its Platinum card, which is offered with an yearly interest of $695 and is touted by the institution to connection benefits of up to $3000 annually. Robinhood says the paper is plated with 99.9% axenic Platinum, disposable to users for a fee. As standard, users are provided with a stainless alloy card.

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The paper offers $250 per twelvemonth successful recognition for autonomous rides with a $20 monthly credit, and an further $30 recognition applied to transactions successful December. The paper volition automatically use the recognition erstwhile a transaction is made utilizing the card. As for the TSA Global Entry and PreCheck credit, the paper offers $120 successful credit.

"Eligible cardholders volition person a recognition of up to $120 each 4 years erstwhile exertion fees for Global Entry oregon TSA PreCheck are charged to their Robinhood Platinum Card," the institution said. The exertion interest for the installation is $120.

Another payment of the card, the institution says, is simply a $250 recognition connected DoorDash Inc. activated via a complimentary DashPass membership. The institution says that it volition supply "up to 3 $10 disconnected discounts each January and up to 2 $10 disconnected discounts successful each different calendar month."

Robinhood besides said that the recognition tin beryllium applied to 1 qualifying transportation bid with a minimum subtotal of $50, excluding taxes and fees.

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"Primary cardholders are eligible to person monthly connection credits for qualifying eating purchases astatine participating section restaurants," the institution said, adding that the $250 successful full connection credits per twelvemonth tin beryllium availed astatine implicit 15,000 section restaurants.

The rhythm is identical to the credits applied to autonomous ride-hailing services. The quality comes arsenic Cathie Wood-led ARK Invest precocious purchased implicit $5.4 cardinal worthy of the nutrient transportation platform's shares.

The institution volition besides connection up to $500 successful credits connected edifice bookings via its Travel portal. The level volition besides connection 5% currency backmost connected flights booked done the Robinhood banking app.