Robinhood, a renowned name in the world of online trading, has issued its own credit card specifically for Robinhood Gold subscribers, offering 3% cashback on all purchases without any annual or transaction fees. This new opportunity aligns with Robinhood’s strategic move last year when they acquired X1 for $95 million, a company that offers a similar fee-free credit card service. The new card, introduced at an online event, supplements the benefits of the Robinhood Gold subscription package. According to Vlad Tenev, the company’s co-founder and leader, this innovation contributes to ensuring more equitable access to the financial system.

Cardholders can enjoy additional benefits, such as a 5% cashback on travel bookings made through Robinhood’s new travel platform. Reward points can be redeemed for travel, gift cards, or shopping at renowned retailers like Apple and Nike. The points can also be converted into cash, which then can be used for investments through the users’ own brokerage accounts.