MW Robinhood's new $695 Platinum card vs. $895 Amex Platinum: Which has better perks?
By Genna Contino
The investing app is stepping into the premium credit-card market long dominated by American Express and big banks
Robinhood's new Platinum credit card offers travel and dining perks - but how does it stack up against the legacy American Express Platinum card?
Investing platform Robinhood (HOOD) is taking aim at the premium credit-card market with the launch of a $695-a-year Platinum credit card, an attempt to compete in the premium-rewards cards space long dominated by American Express $(AXP)$, Chase $(JPM)$ and Capital One $(COF)$.
The card leans into exclusivity. It is plated with 99.9% pure platinum and is marketed as "invite-only," though anyone can request access on Robinhood's website. Any cash back earned through spending on the card can be redeemed for either a statement credit or cash, which can then be reinvested through Robinhood brokerage accounts.
Robinhood says the card is designed to appeal to customers who already use its investing platform, which was launched in 2013 and targets younger, newbie investors. The company "designed the card for a new generation of customers who've grown up with Robinhood and whose financial needs have evolved," Robinhood product communications manager Ally Liss told MarketWatch.
The big question for points enthusiasts is whether a financial-technology company best known for commission-free stock trading can break into one of the most lucrative corners of the credit-card market - and whether Robinhood's Platinum offering gives users more bang for the buck than Amex and others.
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Early reactions from credit-card experts suggest the answer may depend on how often customers already use Robinhood's investing platform.
"The Robinhood card has a lower annual fee, and those who use the Robinhood platform regularly may prefer this card," said Ryan Smith, a managing editor at travel-rewards research company Upgraded Points. "However, in terms of rewards flexibility and perks available, Amex clearly wins."
American Express did not provide comment by the time of publication.
Here's how the Robinhood Platinum Card stacks up against the American Express Platinum Card, one of the first loyalty rewards cards that debuted in 1984.
Annual fee
The Robinhood Platinum comes with a $695 price tag, while the Amex annual fee is significantly higher, at $895. Both companies justify charging hundreds of dollars a year by offering thousands of dollars' worth of perks that customers can redeem to cover travel, dining out and other higher-end lifestyle expenses.
Travel perks
Many consumers turn to rewards cards for the travel perks they provide. Both Robinhood and American Express Platinum cards have an extensive list of statement credits, ??which are reimbursements to a cardholder's account after they make specific purchases that help offset the cost of the annual fee. These statement credits apply to the entire year and are often broken into smaller amounts - such as semiannual or quarterly credits - that can be used throughout the year.
Determining which card is best usually requires sifting through the credits and determining if they align with your current lifestyle. A card that includes more perks for subscriptions you're already paying for, rather than ones you don't have yet, is going to offer more value, credit-card experts often advise.
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American Express already has developed a good reputation for its travel perks. The Amex Platinum's travel statement credits include:
-- $600 in annual hotel credits booked through the American Express travel portal.
-- $200 Uber UBER Cash and an Uber One membership.
-- $200 in airline fee credits.
-- CLEAR+ YOU membership, a $209 a-year program to get through airport security faster.
-- Elite statuses at various hotels.
-- Travel insurance.
-- 5x points on flights.
-- 5x points on hotels booked on the American Express travel portal.
-- Access to more than 1,550 airport lounges, including Amex Centurion, Delta DAL Sky Club and Priority Pass .
And the Robinhood Platinum travel perks include:
-- $300 in annual travel credits.
-- $500 in hotel credits booked through the Robinhood Travel portal.
-- $250 autonomous rides credit to be used toward rides in self-driving cars.
-- 10% cash back on hotels and rental cars booked through Robinhood.
-- 5% cash back on flights booked through Robinhood.
-- Access to Priority Pass, a global membership that provides access to airport lounges.
Both Amex and Robinhood offer reimbursements to cardholders who sign up for TSA PreCheck or Global Entry to get through security at the airport quickly.
While some of the perks look similar at first glance, experts say the cards differ significantly in how valuable those benefits can be for frequent travelers.
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The Amex Platinum earns Membership Rewards points, which can be transferred to airline and hotel loyalty programs - often increasing their value. Robinhood's card offers cash-back style rewards instead and doesn't allow transfers to travel partners, said Madison Blancaflor, managing editor at the Points Guy, a travel and credit-card comparison site.
"Ultimately, the Robinhood Platinum just doesn't come close to the value that you get with the Amex Platinum - especially if you're an avid traveler," Blancaflor said. "Its lineup of credits is less valuable than the breadth of credits across travel and lifestyle partners that Amex offers."
Other perks and statement credits
Here's a breakdown of other major perks each card comes with.
American Express:
-- $400 in Resy credits for dining purchases.
-- $300 digital entertainment credit for eligible streaming services and news subscriptions such as Disney+ DIS, Peacock, the Wall Street Journal and the New York Times NYT.
-- $200 Oura ring credit.
-- $300 Equinox credit.
-- Shopping credits for Lululemon LULU, Saks Fifth Avenue and a Walmart+ WMT membership credit.
Robinhood:
-- 5% cash back on dining.
-- $250 in restaurant credits.
-- $250 in DoorDash DASH credits and a complimentary DashPass subscription.
-- $70 Oura membership and a $200 wearables credit.
-- $365 Function Health membership, a preventative health membership which provides whole-body lab testing.
-- $199 Amazon AMZN One Medical membership, which provides quick access to primary care doctors.
The verdict
If you're someone who is already big into Robinhood and are actively looking for a way to earn rewards that can help you bolster your investment balances, you can probably get some solid value out of the Robinhood Platinum, Blancaflor said.
"But if you're someone looking for a true travel rewards card that will help you save money on trips and elevate your travel experiences, the Amex Platinum is still the very clear 'winner' in a head-to-head matchup."
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-Genna Contino
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March 05, 2026 16:54 ET (21:54 GMT)
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