New Robinhood Platinum C.C.

$695 annual fee

RH now trying to compete in the premium travel card space but unlike the RH Gold C.C. which is a no brainer if you can get it to me (3% back on everything), this seems like a very easy hard pass for a number of reasons:

- You cannot have both the platinum and gold credit cards, the platinum card only pays 1% back on "everything else" outside of dining (5%) and travel purchases (5-10%)

- Cash back for premium travel card will be looked down upon because with points/miles like on AMEX platinum, venture X, strata elite you can usually more than 1x the return those, sometimes 2x or more depending how they are redeemed; while this is just flat cash back

- It's yet another coupon book with ridiculous monthly breakdowns and totally worthless credits for most people

- Only get travel cash back on RH portal bookings which by some have said is normally higher than where you can get elsewhere (making it somewhat pointless)

Appreciate more competition in the space but unlike the Gold card, this is a pretty fumbled rollout IMO and wont compete especially well. What this will do is help fund more Gold cards getting approved though I bet, 3% cash back on everything with no annual fee (unless you consider RH GOld membership an annual fee which I can see that argument) is hard to maintain across a large audience without stuff like this helping subsidize it probably.