Robinhood Markets Inc (NASDAQ:HOOD) on Wednesday introduced a new credit card designed for higher-income clients, marking another step in the company’s push to expand beyond its core trading platform and broaden its financial services offering.
The company said the new Platinum card will carry an annual fee of $695 and will be issued through Visa Inc (NYSE:V). Robinhood said the card features 99.9% pure platinum plating and includes a range of perks focused on travel and dining.
Access to the card will initially be by invitation only, although interested users can register on the company’s website to request eligibility.
The Platinum card becomes Robinhood’s second credit card product following the launch of its Gold card in 2024. According to the company, the new offering provides credit limits of up to five times those available on the Gold card.
The announcement came during Robinhood’s “Take Flight” event, where the company also introduced several additional financial products. These included new types of trading accounts, a platform providing tax insights, and a feature allowing customers to receive dividend payments up to a month earlier on certain eligible securities.