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I asked the customer service and they won't product change X1 to Gold card. "To clarify, X1 users will not transition to the Gold card. For context, these are two separate credit cards and the X1 Card will continue to be functional for all current X1 customers."
Thanks for info, Shawn. I’m a current cardholder of X1, and I was wondering whats gonna happen to X1 with this new card coming. But do u think they’ll eventually close off X1 cardholders or PC them in the future?
I'm thankful I have the X1 card it's a solid card with no AF. Time will tell what will happen to current X1 card holders I hope it continues to work separate for the long term I prefer the X1 card design as well.
Thanks, because I had the same thought. I don't value the X1 card, aside from the virtual cards and the high credit limit is keeping my utilization very low.
3% means that Robinhood is losing money since Visa charges 1.5- 3% fees from merchants and Robinhood needs to split that profit with Visa and PoS systems like PayPal. That means Robinhood is relying on people to sign up for Robinhood Gold and think, "Well, I already have this great benefit, might as well use it to invest my money." If you are an existing Robinhood investor then this doesn't impact you, but if you're not then it is influencing your decision on where you invest your money.
What about the credit cards that give you 5% cashback. Assuming that the gold is aimed at high-spend clients then maybe they make up for the low profit by higher total spend.
I’ll use my Bilt card for 3x dining+rent for transfer partners. I’ll use the Citi custom cash for 5x groceries. I’ll get the Robinhood card because with gold they match you 3% on all Roth IRA contributions. That more than offsets the RH gold cost.
One huge benefit I see on the 3x cash back side is for when you travel overseas, whether it is frequent vacations or as an expat. Car rental (regardless of where you book it-portal or not) gas, groceries, restaurants, and basically everything (electric/gas, streaming, etc) that can be paid overseas can be done with this 3x. Hardly any card, free or not, in the US would cover all these. Especially with one card!! EVEN IF YOU PAID THE $50/YEAR!!!
The promise of flying businesses on points is a borderline scam. They're definitely a good deal if you can book them, the problem is the number of business class seats that are available is very low so actually redeeming your points is very difficult. Basically have to be very flexible with when and where you're traveling (which exludes most of us since we have to plan our time off with our employers) and even then you have to get lucky. Even if you find an availability, it might be gone by the time you are able to transfer points and if you preemptively transfer points you're likely to get stuck with devalued miles before you are able to redeem.
Also if you normally stay at motels and cheap hotels, now you have to spend the points in Hilton/Hyatt/Marriott which is a crazy bump. You might get more value for the points but aren’t you spending more to redeem the points? Cashback better?
@@Coder-jy5ihExactly this. People compare the high class price against points required. I normally wouldn't pay that. So, when I calculate cents per point for a flight I would have flown base fare, that's what I consider the denominator /reference value. Still may come out ahead. Last flight the lowest fare I could redeem points for was economy premium. Compared with the lower economy price, still redeemed at 1.05 cpp, so basically a free "upgrade". Other times, it doesn't come out in my favor.
on way you can do it call up the airline and they will likely to put that seat on hold for you for the next 24 hours tho. About the flying business is very true. But you still getting some value for a short flight if you flying with a partner. Like we have a wedding coming up in a different state and it would cost us $1000 for flight, $500 for hotel stay (not to mention expenses while going there) but we use like 90000 points for this trip and it saves a lot of cash up front. We don't even want to go but since this is a family wedding and we are the only relative in the State so we kinda have to go and this makes the point system a perfect sense. Also, me and my wife redeem points for a trip to Viet Nam with our Amex points. Free flights and free hotel otherwise would cost $5000-ish. Unless you are spending a lot or have a luck of traveling as your job, I would say points is still worth it but only if your natural everyday spending is big enough, me and my wife both have regular jobs and starting out a business so we spend quite a lot compare to other couples so our point system work for us. Everyone will trying to make a good video, baiting people in and promote their links so they can earn points and make money by people watching, this is why I think is the reason everyone think Point is this Holly Grail and it's not worth the hype but these people never ever mention that "You have to spend a lot naturally on your daily basis before even thinking to apply for these annual fees card" But if you want thing to be simple, I think a Chase trifecta is the best for normal low spending folks. Or the Bilt is pretty dang good too. It's more like selling a dream to people not actual value because not everyone has a knowledge to do their own research haha.
it has been helpful for last minute flights and one-way flights when duration of trip is unknown. flew business for 75k amex points on international flight 14+ hours
Good day, I have never replied to your videos before this is my first time. I am very surprised that you did not bring up about the RobinHood gold getting interest on unused cach at 5%, or the 3% match if you put in to IRA. Just pointing that out.
If you work in financial services, you might be restricted to which brokers you're allowed to do business with. So RH might not even be an option. That being said, I would still pass on this one.
Heavily consdiering a hybrid setup with this card. Still heavily team travel, but some seasons travel is light for our family. This could provide some great flexibility for our family.
Also 5% APY interest rate for your cash deposit. So if you can make more than extra $5 a month with these extra interest rates and savings, it's worth it.
Ive already got all the credit cards with intro bonuses that don't have annual fees, but i dont make nor spend much money. That free 1k margin money seems to make this broken. Just put it in in the Gold 5% ish high yield savings account and that pays about the same as the fee. You've already broke even before using the card. This only applies if the fee and interest rates remain constant. More research is required.
Good deal for the users even with the $5 Gold fee, but far from sustainable. The company is barely breaking even. Just customer bait before raising the fees in a year or 2 years from now.
I hear whispers of riches beyond the glen, a magical 3% card that could earn gold again. But wait! There was more to this golden tale, Guinness Stew on Amex Gold without fail. And then, the Luxury Card Gold joined the fray, its concierge service ready to whisk me away. Three cards, three shades of gold-oh, a trifecta in sight! This lep clutched them close, me heart taking flight.
hi, I have an upcoming 3 to 4 month hotel stays later this year & I am choosing which hotel cards to pick, there are Hyatt, Hilton, Marriott and Crowne Plaza in the area.. also I can get the Chase WOH, Hilton Surpass & Aspire, Bonvoy Brilliant & Bonvoy Business & Chase IHG Premier.. out of the Hyatt Globalist, Hilton Diamond, Marriott Titanium or Diamond, IHG Platinum or Diamond... which is worth spending $30k or more? my family will join me as well so breakfast (and maybe club lounge access) for 4 is an important factor, thanks
As a dead simple 1-card solution, if you don’t want to worry about categories or SUB’s, this is THE best cash back card on the market, assuming you spend more than $416 a month (the breakeven point). I’ve had mine about a week, got a $30k limit with no hard inquiry, and was able to redeem cash back instantly into my brokerage. Which you can send to your bank if desired, although I’d invest it. This sweet 3% deal may end someday, and the Gold price will eventually go up, but likely I’ll get at least a couple years of sweet rewards.
If you’re in the Robinhood echo system it’s really worth. If you’re not it’s a bit more of a choice. Gold gives 5.15% interest on cash not invested. 3% match on Roth IRA And 1% on any 401k transferred.
I want this card but will also be canceling my gold membership. If I get it then cancel my gold membership what will happen? I don’t use gold all the time and might cancel basically.
Get the RH Gold card if you want. It offers an interest-free loan of $1,000. Invest that amount in SGOV for a 5% return (as of right now), effectively covering the card's annual fee.
Yo Seb... ive heard you say many times that you have several platinum cards... I'm looking to pickup a second myself, but am curious to know how you justify holding so many. I can see about $600 in value for a second right off the bat --- I do pull around $1100 in value on my CS PLAT. Can you share how you justify multiples? What makes it good value for you? Thx!!
hi sebby! ty as always. i saw that bitcoin guy vid on this last night. he was stoked!! i am tram travel it seems to me that if you are tt, you can still "cash ou" your points in some way, but if you are team cash back, you cant really do travel....am i correct?
I am considering more travel now, but basically cash back is just cash. You can use it on say Chase travel, but the offer tends to be worse and you get a small multiplier by paying into your own card.
I dont use credit cards cuz i know id forget to pay them off and get stuck with intrest lol. Is there a way to link a debit card to it and have it pay off the balance automatically?
Thanks for your attention to detail, Sebby! 😁😁😁 I’m considering the Robinhood Gold Card. I like some of the features and if I use it for autopay for some of my bigger bills then it would pay for itself pretty quickly, plus you get that high APY for uninvested cash. 🤔🤔🤔
I am on Cash Back as I don't have time for Travel and intro bonuses require opening a new line which will temporarily hurt credit. I am looking for a house at the end of the year so I need that to be squeaky clean. Getting this card as I am already a gold member for its other benefits. Anyone reading this wants to help me out with referrals. I am literally 3 people short right now 😂❤
Team cash back! But as far as the gold card I’m on the waiting list but now I don’t think I’m going to get it. I do have the gold membership but that was more for the IRA match
I’m a number of areas robinhood is bumping up the price of robinhood gold. Instead of it being $5 a month, for me it’s $5.99 a month, and I’ve heard some people say they were offered $6.99 a month or $75 a year.
It's not surprising that the mentally challenged gamblers from Reddit are still seething about Robinhood, as if they were the only brokerage to halt trading on those scammy meme stocks.
just came to give you a thumbs up. a non starter for me with criminals Robinhood involved. but then again, I guess pretty much all of the large financial institutions sadly are
This is some late stage capitalism BS (I am only hating because I am a low spender and I know Robinhood is also another corporation that is trying to get a piece of the credit card market)
If your spending is constant on churning for card bonuses your making way more back than using a 3 percent card all the time. So its a big hit on that croud is why hes comparing it.
Your math is wrong. Robinhood Gold costs $50 for a year. To recoup that fee, you only need to spend $1667 over the course of an entire year. This card is amazing as a catch-all. If people were to just put gas, utilities, and groceries on this card, that’s easily $750-$1000/month spending. Assuming the low end of $750/month, that’s $9000 over a 12-month period, coming to $270 cash back.
I'm afraid it's your math that's wrong. Your 1667 per year only gets you to zero after the 50 fee. At that point a 2% card would have made you 33 dollars. The break even point where you make the same with either scenario is the 5k Sebby showed. After that the 3% is better Even with the fee.
Thanks to doc77 for the correction. People are always forgetting, or not understanding, opportunity cost. The baseline case is not paying in cash, it’s paying with a no annual fee 2% card. At $9000 annual spend, the Robinhood cashback is $270 -$50 = $220. Flat 2% card would give you $180 for a delta of $40. At $12,000 annual spend the delta is $130. That’s good for such a simple setup. Could be a little more in both scenarios if you juggled in a few 5% cards, but that would reduce the delta. What’s interesting is the match on Roth IRA contributions which might get you another $150-$200. This card is worth a look, but I probably won’t move my brokerage Roth account.
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I asked the customer service and they won't product change X1 to Gold card. "To clarify, X1 users will not transition to the Gold card. For context, these are two separate credit cards and the X1 Card will continue to be functional for all current X1 customers."
Thanks for the insights!
Thanks for info, Shawn. I’m a current cardholder of X1, and I was wondering whats gonna happen to X1 with this new card coming. But do u think they’ll eventually close off X1 cardholders or PC them in the future?
I'm thankful I have the X1 card it's a solid card with no AF. Time will tell what will happen to current X1 card holders I hope it continues to work separate for the long term I prefer the X1 card design as well.
Thanks, because I had the same thought. I don't value the X1 card, aside from the virtual cards and the high credit limit is keeping my utilization very low.
3% means that Robinhood is losing money since Visa charges 1.5- 3% fees from merchants and Robinhood needs to split that profit with Visa and PoS systems like PayPal. That means Robinhood is relying on people to sign up for Robinhood Gold and think, "Well, I already have this great benefit, might as well use it to invest my money." If you are an existing Robinhood investor then this doesn't impact you, but if you're not then it is influencing your decision on where you invest your money.
Yeah, they will probably raise the gold annual fee in the next few years
What about the credit cards that give you 5% cashback. Assuming that the gold is aimed at high-spend clients then maybe they make up for the low profit by higher total spend.
I’ll use my Bilt card for 3x dining+rent for transfer partners. I’ll use the Citi custom cash for 5x groceries. I’ll get the Robinhood card because with gold they match you 3% on all Roth IRA contributions. That more than offsets the RH gold cost.
and 5% interest on unused cash.
Already wanted to get rh gold. And your telling me I can get 3% back on all purchases??? This is probably my main credit card now.
One huge benefit I see on the 3x cash back side is for when you travel overseas, whether it is frequent vacations or as an expat. Car rental (regardless of where you book it-portal or not) gas, groceries, restaurants, and basically everything (electric/gas, streaming, etc) that can be paid overseas can be done with this 3x. Hardly any card, free or not, in the US would cover all these. Especially with one card!! EVEN IF YOU PAID THE $50/YEAR!!!
I appreciate the quick reporting to much selling talk from the ceo and news
The promise of flying businesses on points is a borderline scam. They're definitely a good deal if you can book them, the problem is the number of business class seats that are available is very low so actually redeeming your points is very difficult. Basically have to be very flexible with when and where you're traveling (which exludes most of us since we have to plan our time off with our employers) and even then you have to get lucky. Even if you find an availability, it might be gone by the time you are able to transfer points and if you preemptively transfer points you're likely to get stuck with devalued miles before you are able to redeem.
Also if you normally stay at motels and cheap hotels, now you have to spend the points in Hilton/Hyatt/Marriott which is a crazy bump. You might get more value for the points but aren’t you spending more to redeem the points? Cashback better?
@@Coder-jy5ihExactly this. People compare the high class price against points required. I normally wouldn't pay that. So, when I calculate cents per point for a flight I would have flown base fare, that's what I consider the denominator /reference value. Still may come out ahead. Last flight the lowest fare I could redeem points for was economy premium. Compared with the lower economy price, still redeemed at 1.05 cpp, so basically a free "upgrade". Other times, it doesn't come out in my favor.
on way you can do it call up the airline and they will likely to put that seat on hold for you for the next 24 hours tho.
About the flying business is very true. But you still getting some value for a short flight if you flying with a partner. Like we have a wedding coming up in a different state and it would cost us $1000 for flight, $500 for hotel stay (not to mention expenses while going there) but we use like 90000 points for this trip and it saves a lot of cash up front. We don't even want to go but since this is a family wedding and we are the only relative in the State so we kinda have to go and this makes the point system a perfect sense.
Also, me and my wife redeem points for a trip to Viet Nam with our Amex points. Free flights and free hotel otherwise would cost $5000-ish. Unless you are spending a lot or have a luck of traveling as your job, I would say points is still worth it but only if your natural everyday spending is big enough, me and my wife both have regular jobs and starting out a business so we spend quite a lot compare to other couples so our point system work for us. Everyone will trying to make a good video, baiting people in and promote their links so they can earn points and make money by people watching, this is why I think is the reason everyone think Point is this Holly Grail and it's not worth the hype but these people never ever mention that "You have to spend a lot naturally on your daily basis before even thinking to apply for these annual fees card" But if you want thing to be simple, I think a Chase trifecta is the best for normal low spending folks. Or the Bilt is pretty dang good too. It's more like selling a dream to people not actual value because not everyone has a knowledge to do their own research haha.
it has been helpful for last minute flights and one-way flights when duration of trip is unknown. flew business for 75k amex points on international flight 14+ hours
@@Coder-jy5ihyeah I plan on getting the IHG One Premier
Adding this as my all catch card. Team cash back 🦊
Was waiting for you thoughts!
:)
The 5% apy is good too!
Good day, I have never replied to your videos before this is my first time. I am very surprised that you did not bring up about the RobinHood gold getting interest on unused cach at 5%, or the 3% match if you put in to IRA. Just pointing that out.
true, those are good deals.
I notice all the TH-camrs heavily criticizing this card never mention that. Pretty weird
I dont think you mention youll get 3% on rith ira deposits also.
If you work in financial services, you might be restricted to which brokers you're allowed to do business with. So RH might not even be an option. That being said, I would still pass on this one.
Heavily consdiering a hybrid setup with this card. Still heavily team travel, but some seasons travel is light for our family. This could provide some great flexibility for our family.
Also 5% APY interest rate for your cash deposit. So if you can make more than extra $5 a month with these extra interest rates and savings, it's worth it.
After the whole Gamestop fiasco i would not give money to robinhood even if you paid me to.
Same. They could pull a bait and switch like the Uber card
Same here
Amen to that!
That was a GameStop social media issue . . Not Robinhood . . Robinhood was just the messenger. . Never shoot the messenger. . 👀
@@Vinvidivici found Robinhood's burner account
Need an update from the video from 2 days ago regarding the CSR priority pass restaurants. Tragedy has struck the credit card community again 😢
Tomorrow!
Wow they make it almost impossible to get the card in 10k gold
Ive already got all the credit cards with intro bonuses that don't have annual fees, but i dont make nor spend much money. That free 1k margin money seems to make this broken. Just put it in in the Gold 5% ish high yield savings account and that pays about the same as the fee. You've already broke even before using the card. This only applies if the fee and interest rates remain constant. More research is required.
I can't find an option to do the 50 dollar annual? It's only letting me do the monthly 5 bucks? Does anyone know how to switch it?
Same, i asked support and they said that monthly should be fine
I’m not sure about the no tax and fees part for using points to book hotel. They just charge you the fees separately
Is this better than the Apple care!?
What’s the credit score minimum to apply ?
Good deal for the users even with the $5 Gold fee, but far from sustainable. The company is barely breaking even. Just customer bait before raising the fees in a year or 2 years from now.
How long is the waitlist?
I’m still waiting lol
@@donniethesportsguy893 same here dude
@@arholderik eager to get started go maximize my cash back. 😂
I hear whispers of riches beyond the glen, a magical 3% card that could earn gold again. But wait! There was more to this golden tale, Guinness Stew on Amex Gold without fail. And then, the Luxury Card Gold joined the fray, its concierge service ready to whisk me away. Three cards, three shades of gold-oh, a trifecta in sight! This lep clutched them close, me heart taking flight.
Is cash back to checking account or Robinhood spending account only?
hi, I have an upcoming 3 to 4 month hotel stays later this year & I am choosing which hotel cards to pick, there are Hyatt, Hilton, Marriott and Crowne Plaza in the area.. also I can get the Chase WOH, Hilton Surpass & Aspire, Bonvoy Brilliant & Bonvoy Business & Chase IHG Premier.. out of the Hyatt Globalist, Hilton Diamond, Marriott Titanium or Diamond, IHG Platinum or Diamond... which is worth spending $30k or more? my family will join me as well so breakfast (and maybe club lounge access) for 4 is an important factor, thanks
No need to define who it is for. Just say what it does and how it can be used effectively.
Still on waitlist after all this time.
As a dead simple 1-card solution, if you don’t want to worry about categories or SUB’s, this is THE best cash back card on the market, assuming you spend more than $416 a month (the breakeven point). I’ve had mine about a week, got a $30k limit with no hard inquiry, and was able to redeem cash back instantly into my brokerage. Which you can send to your bank if desired, although I’d invest it. This sweet 3% deal may end someday, and the Gold price will eventually go up, but likely I’ll get at least a couple years of sweet rewards.
Don't think you can buy SGOV on margin. At least at fidelity it is cash only. But good idea anyway. Any idea when one can actually get the card?
If you’re in the Robinhood echo system it’s really worth. If you’re not it’s a bit more of a choice.
Gold gives 5.15% interest on cash not invested.
3% match on Roth IRA
And 1% on any 401k transferred.
Which credit bureau do they pull from ?
You cannot get the actual real gold card unless you are invited.
Only the first 5k people who qualify.
What is your go to for grocery?
You need to spend $2,000 a year to break even with the gold membership. The membership is actually $60 a year 3% of 2,000 is 60
I use my credit card on all purchases and pay it off in full every month, if you do that you will get a lot of cash back.
I want this card but will also be canceling my gold membership. If I get it then cancel my gold membership what will happen? I don’t use gold all the time and might cancel basically.
I’m sure they will cancel your card since you need it to have the card
Get the RH Gold card if you want. It offers an interest-free loan of $1,000. Invest that amount in SGOV for a 5% return (as of right now), effectively covering the card's annual fee.
Fuck Robinhood. I'll never forget.
Compared to the venture x? With 5% savings. Seems like a no brainer if you just use points as cashback
Yo Seb... ive heard you say many times that you have several platinum cards...
I'm looking to pickup a second myself, but am curious to know how you justify holding so many.
I can see about $600 in value for a second right off the bat --- I do pull around $1100 in value on my CS PLAT.
Can you share how you justify multiples? What makes it good value for you? Thx!!
I use all the credits.
Great stuff
Sebby, where do i find the butter emoji lol? Usually watching YT from the TV but I'm on the cell today and figured i would drop an emoji...
🧈 there you go internet stranger! (BTW, I just typed "butter" and it popped up after typing the "r" so hope that helps.
great video Sebby
Can u make a video about alternatives for Priority Pass restaurants?
hi sebby! ty as always. i saw that bitcoin guy vid on this last night. he was stoked!! i am tram travel it seems to me that if you are tt, you can still "cash ou" your points in some way, but if you are team cash back, you cant really do travel....am i correct?
I am considering more travel now, but basically cash back is just cash. You can use it on say Chase travel, but the offer tends to be worse and you get a small multiplier by paying into your own card.
6:46 Time traveler....? Yes. Thanks sebby!
I dont use credit cards cuz i know id forget to pay them off and get stuck with intrest lol. Is there a way to link a debit card to it and have it pay off the balance automatically?
Wow how old are you?
@@sakibc1787 35 🤣 but at least I'm not up to my eyeballs in debt
Thanks for your attention to detail, Sebby! 😁😁😁
I’m considering the Robinhood Gold Card. I like some of the features and if I use it for autopay for some of my bigger bills then it would pay for itself pretty quickly, plus you get that high APY for uninvested cash. 🤔🤔🤔
I also like that it gives travel protection… That’s one of the only reasons I was considering Sapphire Preferred.
Thanks
RIP citi. I was thinking about getting their premier card, but it looks like robinhood just won themselves a lot of customers
You can't beat 3% cashback!
@@shawn.credit on ALL categories 💪
New changes to Amex Hilton business card started today !
You forgot about about a lot of other perks
Great 🧈
I'm Team Limited Solid Gold Card
I am on Cash Back as I don't have time for Travel and intro bonuses require opening a new line which will temporarily hurt credit. I am looking for a house at the end of the year so I need that to be squeaky clean. Getting this card as I am already a gold member for its other benefits. Anyone reading this wants to help me out with referrals. I am literally 3 people short right now 😂❤
virtual cards are sweet, would love to hear how you optimize them and which cards are best for them!
I for one am happy to give Robinhood more of my data to sell
This is the way
I'm on the list! 😎🤓📈✌🏾
Would have been great card if no subscription was required
I don't like the idea of make a ton, spend a ton.
Do a video on Mastercard perpay credit card
Thank you
I don't trust there customer service
Congratulations 🎉
Team cash back! But as far as the gold card I’m on the waiting list but now I don’t think I’m going to get it. I do have the gold membership but that was more for the IRA match
I'm team travel af, but thank you for the information and of course the same way I don't float my cred card I don't play with margins.
Smart
After the stunt with game stop idk how anyone supports any of their platforms or their services
I wanted the gold card but I have no friends... :/
Last for few months?
I’m a number of areas robinhood is bumping up the price of robinhood gold. Instead of it being $5 a month, for me it’s $5.99 a month, and I’ve heard some people say they were offered $6.99 a month or $75 a year.
Not worth it at all especially since they steal from you if you trade at all and sell your positions to market makers so u get fuked on any real trade
Sounds too complicated for me
Sebby is the LEBRON JAMES of the credit card.🙂
Mark Reese is the Michael Jordan
You're saying he's a queen?
Hi
👋
Are there still noobs that go after credit cards that made of steel? Seems pretty dated and petty to me!
This one is 10k GOLD ✨ (for the first 5,000 who qualify)
So even more ridiculous! 😂
I don’t think it’s a matter of chasing. All the premium cards are metal so it’s not like you have a choice if you want the perks of said cards.
3% cash back on all spending is great
Most credits that are metal are amazing credit cards, you sound like a virgin
It's not surprising that the mentally challenged gamblers from Reddit are still seething about Robinhood, as if they were the only brokerage to halt trading on those scammy meme stocks.
GME TO THA MOON 🚀🌝📈 CAN I HAVE MY LAMBOS NOW?
just came to give you a thumbs up. a non starter for me with criminals Robinhood involved. but then again, I guess pretty much all of the large financial institutions sadly are
Yo
👋
This is some late stage capitalism BS (I am only hating because I am a low spender and I know Robinhood is also another corporation that is trying to get a piece of the credit card market)
Btw never trush robbing the hood with your true wealth
you're really comparing bonuses to the 3% ? come on bro.....
If your spending is constant on churning for card bonuses your making way more back than using a 3 percent card all the time. So its a big hit on that croud is why hes comparing it.
no gold card for me, chase better
🧈 Review video as always Sebby. I have so much to learn… thank you!
Squuuuuuuuuuad
👋
1st
🥈
Your math is wrong. Robinhood Gold costs $50 for a year. To recoup that fee, you only need to spend $1667 over the course of an entire year.
This card is amazing as a catch-all. If people were to just put gas, utilities, and groceries on this card, that’s easily $750-$1000/month spending. Assuming the low end of $750/month, that’s $9000 over a 12-month period, coming to $270 cash back.
I'm afraid it's your math that's wrong. Your 1667 per year only gets you to zero after the 50 fee. At that point a 2% card would have made you 33 dollars. The break even point where you make the same with either scenario is the 5k Sebby showed. After that the 3% is better Even with the fee.
Thanks to doc77 for the correction. People are always forgetting, or not understanding, opportunity cost. The baseline case is not paying in cash, it’s paying with a no annual fee 2% card. At $9000 annual spend, the Robinhood cashback is $270 -$50 = $220. Flat 2% card would give you $180 for a delta of $40. At $12,000 annual spend the delta is $130. That’s good for such a simple setup. Could be a little more in both scenarios if you juggled in a few 5% cards, but that would reduce the delta. What’s interesting is the match on Roth IRA contributions which might get you another $150-$200. This card is worth a look, but I probably won’t move my brokerage Roth account.
Fake gold also robbing the hood is robbing the hood fake
🧈 this vs USBAR?
Robinhood are nuthing but scammers dont use them 🙄
🧈 hell yeah
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Love the in-depth analysis of this new card! 🧈
Just got told X1 will not be rolled over to Gold Card, but I’ll believe it when I see it. Great video as usual!! 🧈
Good to know!
1st
Almost!
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