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HOOD Unveils Platinum Card: Will This Help Broaden Its Customer Base?
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Key Takeaways
Robinhood launched an invite-only Platinum Card with a $695 fee and up to 5x higher limits.
Robinhood says the new card targets users who "hit the ceiling" on existing credit limits.
Robinhood expects premium cardholders to boost interchange revenues and cross-selling in the app.
Robinhood Markets (HOOD - Free Report) is pushing further beyond stock trading with the debut of its new Robinhood Platinum Card, an invite-only premium offering aimed at higher-spending customers. The card will carry a $695 annual fee and have up to 5x higher credit limits than the Robinhood Gold Card, which was launched a decade ago.
On rewards, Robinhood is touting a mix of elevated cash-back and statement-credit style benefits. Deepak Rao, GM and VP, Robinhood Money, said, “We built the Gold Card to be the best card for everyday spending, and customer demand showed us there was room to push the boundaries even further. The Platinum Card offers higher limits, elite rewards and luxury benefits, and raises the bar for what customers should expect from a premium credit card.”
The Platinum Card extends Robinhood’s consumer-finance push that began with its earlier Gold card, which has more than 7 million customers, with $10 billion or more in annualized spending. The new card is in response to customers who “hit the ceiling” on existing limits, an indicator that Robinhood is seeing demand from wealthier users with larger, more consistent spending profiles.
For Robinhood, premium cardholders are expected to drive higher interchange revenues, leading to deeper engagement inside the app and boosting cross-selling opportunities across banking and investing features. By courting affluent, high-activity households, the company will likely broaden its reach from “trading-first” users to a stickier, lifestyle-oriented customer base and potentially grow assets and retention across life stages.
What Robinhood’s Peers are Doing to Stay Competitive?
Charles Schwab (SCHW - Free Report) and Interactive Brokers (IBKR - Free Report) are the two closest peers of Robinhood.
On March 2, Schwab completed its $660 million all-cash acquisition of Forge Global Holdings. The deal supports Schwab’s push into private markets for retail and advisor clients by expanding access to private securities. Forge also strengthens Schwab Alternative Investments Select, available to retail households with more than $5 million in assets at Schwab.
Interactive Brokers is growing organically. This week, it expanded Swedish ISK accounts to include global futures, options and portfolio lending. In 2025, it widened market access by adding Brazilian equities (B3), UAE stocks (Abu Dhabi and Dubai exchanges) and the Taipei Exchange. Interactive Brokers also launched the Karta Visa card, introduced Connections for related investing ideas, rolled out zero-commission U.S. stock trading in Singapore, launched NISA accounts in Japan and expanded Forecast Contracts into Europe.
Robinhood’s shares have soared 83.3% in the past year, underlining investor confidence in its expansion strategy. The industry has gained 27.6%.
Image Source: Zacks Investment Research
Given the impressive price performance, HOOD’s shares are currently trading at a massive premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 8.78X compared with the industry average of 3.12X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Robinhood’s 2026 and 2027 earnings implies year-over-year growth of 15.1% and 19.5%, respectively. In the past month, earnings estimates for 2026 and 2027 have been revised lower to $2.36 and $2.82 per share, respectively.
View the Zacks #1 Rank List
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HOOD Unveils Platinum Card: Will This Help Broaden Its Customer Base?
Key Takeaways
Robinhood Markets (HOOD - Free Report) is pushing further beyond stock trading with the debut of its new Robinhood Platinum Card, an invite-only premium offering aimed at higher-spending customers. The card will carry a $695 annual fee and have up to 5x higher credit limits than the Robinhood Gold Card, which was launched a decade ago.
On rewards, Robinhood is touting a mix of elevated cash-back and statement-credit style benefits. Deepak Rao, GM and VP, Robinhood Money, said, “We built the Gold Card to be the best card for everyday spending, and customer demand showed us there was room to push the boundaries even further. The Platinum Card offers higher limits, elite rewards and luxury benefits, and raises the bar for what customers should expect from a premium credit card.”
The Platinum Card extends Robinhood’s consumer-finance push that began with its earlier Gold card, which has more than 7 million customers, with $10 billion or more in annualized spending. The new card is in response to customers who “hit the ceiling” on existing limits, an indicator that Robinhood is seeing demand from wealthier users with larger, more consistent spending profiles.
For Robinhood, premium cardholders are expected to drive higher interchange revenues, leading to deeper engagement inside the app and boosting cross-selling opportunities across banking and investing features. By courting affluent, high-activity households, the company will likely broaden its reach from “trading-first” users to a stickier, lifestyle-oriented customer base and potentially grow assets and retention across life stages.
What Robinhood’s Peers are Doing to Stay Competitive?
Charles Schwab (SCHW - Free Report) and Interactive Brokers (IBKR - Free Report) are the two closest peers of Robinhood.
On March 2, Schwab completed its $660 million all-cash acquisition of Forge Global Holdings. The deal supports Schwab’s push into private markets for retail and advisor clients by expanding access to private securities. Forge also strengthens Schwab Alternative Investments Select, available to retail households with more than $5 million in assets at Schwab.
Interactive Brokers is growing organically. This week, it expanded Swedish ISK accounts to include global futures, options and portfolio lending. In 2025, it widened market access by adding Brazilian equities (B3), UAE stocks (Abu Dhabi and Dubai exchanges) and the Taipei Exchange. Interactive Brokers also launched the Karta Visa card, introduced Connections for related investing ideas, rolled out zero-commission U.S. stock trading in Singapore, launched NISA accounts in Japan and expanded Forecast Contracts into Europe.
HOOD’s Price Performance, Valuation & Estimate Analysis
Robinhood’s shares have soared 83.3% in the past year, underlining investor confidence in its expansion strategy. The industry has gained 27.6%.
Image Source: Zacks Investment Research
Given the impressive price performance, HOOD’s shares are currently trading at a massive premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 8.78X compared with the industry average of 3.12X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Robinhood’s 2026 and 2027 earnings implies year-over-year growth of 15.1% and 19.5%, respectively. In the past month, earnings estimates for 2026 and 2027 have been revised lower to $2.36 and $2.82 per share, respectively.
Image Source: Zacks Investment Research
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.