Trading platform Robinhood Markets Inc. has unveiled a new platinum card that offers incentives for autonomous ride-hailing services, access to the Transportation Security Administration‘s (TSA) PreCheck facility and more.
On Wednesday, the company announced its Platinum card, which is offered with an annual fee of $695 and is touted by the company to offer benefits of up to $3000 annually. Robinhood says the card is plated with 99.9% pure Platinum, available to users for a fee. As standard, users are provided with a stainless steel card.
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The card offers $250 per year in credit for autonomous rides with a $20 monthly credit, and an additional $30 credit applied to transactions in December. The card will automatically apply the credit once a transaction is made using the card. As for the TSA Global Entry and PreCheck credit, the card offers $120 in credit.
“Eligible cardholders will receive a credit of up to $120 every four years when application fees for Global Entry or TSA PreCheck are charged to their Robinhood Platinum Card,” the company said. The application fee for the facility is $120.
Another benefit of the card, the company says, is a $250 credit on DoorDash Inc. activated via a complimentary DashPass membership. The company says that it will provide “up to three $10 off discounts each January and up to two $10 off discounts in every other calendar month.”
Robinhood also said that the credit can be applied to one qualifying delivery order with a minimum subtotal of $50, excluding taxes and fees.
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“Primary cardholders are eligible to receive monthly statement credits for qualifying dining purchases at participating local restaurants,” the company said, adding that the $250 in total statement credits per year can be availed at over 15,000 local restaurants.
The cycle is identical to the credits applied to autonomous ride-hailing services. The news comes as Cathie Wood-led ARK Invest recently purchased over $5.4 million worth of the food delivery platform’s shares.
The company will also offer up to $500 in credits on hotel bookings via its Travel portal. The platform will also offer 5% cash back on flights booked through the Robinhood banking app.
