00:00 Speaker A
Robin Hood is jumping into the credit card market with its new premium rewards credit card known as the Robin Hood Platinum card. Yahoo Finances, Brooke De Palma and Inez Ferre both here to discuss. Brooke, what do we know about this card?
00:15 Brooke DiPalma
So, this card is going to come in an annual fee of about $695. It was announced last night at Robin Hood’s Take Flight uh conference that they had and also have some some pretty cool perks similar to what maybe a platinum card has.
00:27 Speaker A
Like what? What do I get for this?
00:29 Brooke DiPalma
All right, so what you get for it is an Amazon One medical partnership or membership rather. Also similar to what we see with the Amax Platinum card, a Oura ring subscription. You guys know the Oura ring? It’s very popular. It’s like the wearable ring that tracks everything that an Apple Watch does. Also you get a $200 annual credit for other health wearable products. So think like a Garmin Watch or an Apple Watch. That’s certainly a perk catering to maybe a younger customer as well. You get complimentary Robin Hood Gold membership, unlimited priority pass, airport membership, a $250 annual doordash credit and a $250 annual credit for autonomous rides. Wow.
01:03 Speaker A
I know is in on that. Hey what do you think? $695 annual fee, but did the did the perks sell it? Do you think you know what that’s worth it?
01:10 Ines Ferre
Well, look, they’re they’re going after that premium customer there. I mean, they’re going after the high end. but they also have so many other offerings. They’ve got the gold card. They are they have been on this tear of putting out offerings of different products, this velocity of products that they’re putting out there, banking, anything to do with
01:31 Speaker A
They are a lot is saying I’m going to be the one stop shop.
01:34 Brooke DiPalma
And that’s what they want to be. Yeah. And and I did get to speak to one of the Robin Hood executives and what they did say was that they want to raise the bar for what a premium credit card experience could be, what it looks like. I even asked, you know, will there be an airport lounge soon? And they didn’t totally strike out that answer.
01:52 Speaker A
Well you talked to him, Brooke, and you said like what’s going to differentiate you to Neza’s point. There’s a lot of competing cards. what makes them different?
01:59 Brooke DiPalma
I mean that’s autonomous rides offering is kind of different. I don’t see any other card is doing that.
02:04 Ines Ferre
They are saying, we are going to be everything that has to do with your entire financial world. We’re going to have the entire ecosystem because they’ve got family offerings as well as far as being able for the households to be able to do all their uh all of their finances. They’re looking at the wealth transfer. Most of their customers are millennials and so when you think about their parents that are then going to as they pass away, leave those their wealth to their children, then you’re also looking at that entire wealth transfer that they are saying is going to be their tailwind.