The investing app Robinhood is making headlines with the announcement of the Robinhood Gold Card. This bank card encompasses a minimal of three% money again on all purchases and there is even a limited-edition 10-karat gold model. When in comparison with different playing cards, that rewards fee is usually capped after a specific amount of spending or to a selected class of purchases (i.e. fuel or eating), however with this card you’ll earn 3% money again on all purchases — with no restrict on the quantity you’ll be able to earn.It isn’t open for functions but, however you’ll be able to add your self to the waitlist. Whereas it is technically a no-annual-fee card, it is solely open to Robinhood Gold members, which prices $5/mo or $50 a yr.Beneath, CNBC Choose has the small print on what it’s worthwhile to know in regards to the card’s options and advantages.Robinhood Gold Card Details about the Robinhood Gold Card has been collected independently by Choose and has not been reviewed or offered by the issuer of the cardboard previous to publication.Rewards5% money again on journey bought by the Robin journey portal; 3% money again on all different purchasesWelcome bonusAnnual feeRequires a Gold membership which prices $5 a month or $50 a yearIntro APRRegular APRBalance switch feeForeign transaction feesProsHigh cash-back fee on on a regular basis purchasesNo overseas transaction feesConsRobinhood Gold subscription requiredRobinhood Gold Card benefitsOn prime of the three% money again in every single place, cardholders additionally obtain 5% money again on journey purchases made by the Robinhood journey portal. Different advantages embrace:Get a Robinhood Gold Card made from goldIf you are on the Robinhood Gold Card waitlist and refer 10 folks to each join a Robinhood Gold subscription and be part of the Gold Card’s waitlist too, you’re eligible to obtain a 10-karat gold model of this card. Study extra at Robinhood.Evaluate investing resourcesRobinhood Gold membership benefitsRobinhood provides a 1.5% APY on uninvested money sitting in your brokerage account, however when you improve to a paid Gold membership you will obtain a 5% APY on these balances. Gold members additionally obtain a 3% match on eligible contributions to a Robinhood IRA. Should you can benefit from these perks, the Gold subscription price could also be price it, and the advantages you obtain from a Robinhood Gold Card are icing on the cake.Robinhood RetirementOn Robinhood’s safe siteMinimum deposit and balanceThere is a $20 minimal to spend money on the portfolio Robinhood recommends to youFeesRobinhood would not cost any administration charges or fee charges for the IRA account. Nevertheless, an IRA Match Early Withdrawal Payment might apply in some circumstancesBonusThe Robinhood IRA provides a 1% match on eligible contributions as much as IRA contribution limits. Limitations apply.*Funding vehiclesTraditional IRA and Roth IRAInvestment optionsStocks and ETFs (customers can spend money on Robinhood’s choice of 5–8 beneficial ETFs, decide their very own, or do a mix of each). In accordance with the web site, eligible customers will quickly be capable to commerce choices of their IRAEducational resourcesRobinhood provides schooling supplies on their websiteTerms apply. Doesn’t apply to crypto asset portfolios.*The IRA Match is robotically added after eligible contributions from an exterior checking account. Maintain the contributions in your IRA for a minimum of 5 years from the date you contribute. IRA Match FAQ. Different charges might apply. See Payment Schedule for extra particulars.This membership tier additionally comes with a handful of different options reminiscent of bigger prompt deposits and entry to Morningstar analysis and NASDAQ Stage II market knowledge.Alternate playing cards to considerIf you do not need to look forward to the Robinhood Gold Card to open for functions otherwise you aren’t involved in becoming a member of Robinhood Gold, these alternate playing cards may help you begin incomes rewards proper now.The Wells Fargo Energetic Money® Card earns a vast 2% money rewards on all purchases and new card members can earn a $200 bonus after assembly the cardboard’s spending requirement (spend $500 in purchases within the first 3 months). This card earns 1% lower than the Robinhood Gold Card on non-bonus spending, but it surely has no annual price and you need to pay a minimum of $50 a yr for a Robinhood Gold membership. To earn $50 in rewards at 1%, you need to spend $5,000, so you will get a head begin on incomes money again with the Energetic Money Card, particularly whenever you issue within the welcome bonus.Wells Fargo Energetic Money® CardOn Wells Fargo’s safe siteRewardsUnlimited 2% money rewards on purchasesWelcome bonusEarn a $200 money rewards bonus after spending $500 in purchases within the first 3 monthsAnnual feeIntro APR0% intro APR for 15 months from account opening on purchases and qualifying stability transfers; stability transfers made inside 120 days qualify for the intro rateRegular APR20.24%, 25.24%, or 29.99% Variable APR on purchases and stability transfersBalance switch fee3% intro for 120 days from account opening then BT price of as much as 5%, min: $5 International transaction feeCredit neededThe Uncover it® Money Again earns 5% money again on as much as $1,500 in mixed purchases in rotating quarterly classes (whenever you activate), then 1% money again (which you additionally earn on all purchases exterior of the quarterly classes). The welcome supply makes this card much more attractive as a result of it matches the money again new cardmembers earn for the primary yr. With this supply, you are successfully incomes 10% money again from spending that qualifies for the rotating bonus classes for the primary yr, after which 2% money again on all purchases for the rest of that yr.Uncover it® Money BackOn Uncover’s safe siteRewardsEarn 5% money again on on a regular basis purchases at completely different locations you store every quarter like grocery shops, eating places, fuel stations, and extra, as much as the quarterly most whenever you activate. Plus, earn limitless 1% money again on all different purchases-automatically.Welcome bonusDiscover will match all of the money again earned for all new cardmembers on the finish of your first yr.Annual feeIntro APR0% for 15 months on purchasesRegular APR17.24% to twenty-eight.24% VariableBalance switch fee3% intro stability switch price, as much as 5% price on future stability transfers (see phrases)*International transaction feeCredit neededSubscribe to the CNBC Choose Publication!Cash issues — so benefit from it. Get knowledgeable ideas, methods, information and every thing else it’s worthwhile to maximize your cash, proper to your inbox. Enroll right here.Evaluate investing productsBottom lineRobinhood has introduced a brand new cash-back bank card that can be accessible for its Gold members. The Robinhood Gold Card will earn a minimum of 3% money again on all purchases, which is an distinctive return for on a regular basis purchases. A Robinhood Gold membership is comparatively reasonably priced in comparison with most bank card annual charges, which can make this card probably the greatest cash-back bank cards as soon as it opens for functions.Why belief CNBC Choose?At CNBC Choose, our mission is to supply our readers with high-quality service journalism and complete shopper recommendation to allow them to make knowledgeable choices with their cash. Each private finance article is predicated on rigorous reporting by our staff of knowledgeable writers and editors with intensive information of economic merchandise. 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