How Do They Stack Up?

On March 4, Robinhood announced the Robinhood Platinum Card, a new premium credit card with a $695 annual fee. The card positions itself to compete with established luxury cards like the American Express Platinum Card® (see rates and fees), which carries an $895 annual fee.

This is the company’s second credit card launch, following the March 2024 announcement of the no-annual-fee Robinhood Gold Card. In the press release, Deepak Rao, GM and VP of Robinhood Money, said that the Robinhood Platinum Card “raises the bar for what customers should expect from a premium credit card.”

According to Robinhood, its Platinum Card offers over $3,000 in value, though some of the card’s statement credits are a bit more niche and may not appeal to every cardholder. It does include familiar travel perks like Global Entry or TSA PreCheck credits and Priority Pass lounge access, though it lacks access to proprietary lounge networks, like those offered by American Express.

The Robinhood Platinum card is currently invite-only, but you can request access on Robinhood’s site using your email address. Before you do so, though, CNBC Select takes a look at how Robinhood’s newest premium credit card stacks up against the Amex Platinum.

The Robinhood Platinum Card doesn’t currently offer a welcome bonus, though you’ll find one on the higher-fee Amex Platinum: New card members can earn as many as 175,000 Membership Rewards® points after spending $12,000 in eligible purchases on their new Card in the first six months of Card Membership.

The Robinhood Platinum Card not offering a welcome bonus of any kind is a little disappointing. On the other hand, the Amex Platinum’s 175,000-point welcome bonus is worth at least $1,750 toward travel redemptions.

One of the most notable differences between these two cards is the rewards they earn. The Robinhood Platinum Card earns cash back, while the Amex Platinum earns Membership Rewards® points, which are significantly more flexible.

Both cards earn rewards on travel, though their rewards structures differ. The Robinhood Platinum Card earns:

• 10% cash back on hotels booked through the Robinhood Travel Portal
• 10% cash back on rental cars booked through the Robinhood Travel Portal
• 5% cash back on flights booked through the Robinhood Travel Portal
• 5% cash back on dining, on up to $50,000 spent annually (then 1% back)
• 1% cash back on all other purchases

The Amex Platinum earns:

• 5X points on flights booked directly with airlines or through American Express Travel® (on up to $500,000 in purchases per calendar year, then 1X points)
• 5X points on prepaid hotels booked through American Express Travel®
• 1X points on all other eligible purchases

What really stands out about the Robinhood Platinum Card is its 5% cash back rate on dining. This is a very strong earnings rate, even considering the $50,000 cap. Where the card falters a bit is on flights; it only earns 5% cash back on flights booked through the Robinhood portal, whereas the Amex Platinum earns the same rate on both flights booked through its portal or directly with the carrier.

To redeem rewards earned with the Robinhood Platinum Card, you must have a Robinhood Financial brokerage account. For current Robinhood users, this will boost the money you have in your account for investment opportunities. Cash back can also be used for travel bookings made through the Robinhood Travel Portal and purchases with select online merchants.

With the American Express Platinum, rewards redemptions are considerably more flexible. You can redeem Membership Rewards® points for gift cards or statement credits, use Pay with Points at checkout for various sites (including Amazon), book travel through American Express Travel® or transfer points to one of Amex’s 17 airline partners or three hotel partners for potentially greater value. (Note, Robinhood doesn’t offer travel transfer partners.)

The Robinhood Platinum Card follows in the footsteps of other premium cards, carrying a significant amount of value through “coupon book” style statement credits:

• $250 Annual Dining Statement Credits
• $250 Annual DoorDash Credits
• $200 Health Wearables Statement Credit
• $300 Annual Travel Statement Credit
• $500 Hotel Booking Credits via Robinhood Travel Portal
• $250 Autonomous Rides Statement Credit
• Up to $120 Global Entry/TSA PreCheck Credit

Many of these credits, including autonomous rides, DoorDash and dining credits, are split into monthly redemptions, meaning you have to track and use them more frequently. Some credits may feel less relevant to a broad audience, such as health wearables or the autonomous rides credit, which is not widely available outside major cities.

The American Express Platinum Card added a number of new statement credits during its 2025 card overhaul, and several of them overlap with the Robinhood Platinum. We’ve included those below:

• Up to $600 hotel credit: Up to $300 in statement credits biannually for eligible Amex Fine Hotels & Resorts bookings or prepaid bookings with The Hotel Collection. (The Hotel Collection requires a minimum two-night stay.)
• Up to $400 in Resy Credit: Up to $100 in statement credits per quarter when using your card on eligible Resy purchases.*
• Up to $200 in Uber Cash: $15 per month ($35 in December) deposited into your Uber Wallet after adding your card to your Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction (terms apply).*
• Up to $120 Uber One credit: Up to $120 in statement credits each calendar year for an auto-renewing Uber One membership (terms apply).*
• Up to $200 in airline fee credits: Up to $200 back per calendar year for incidental fees charged by your selected qualifying airline (qualifying airlines are subject to change). See terms and conditions for more details.
• $200 Oura ring credit: $200 in statement credits when you purchase an Oura Ring at Ouraring.com.*
• $120 TSA PreCheck or Global Entry credit: Receive either a statement credit for a Global Entry ($120 every four years) or a TSA PreCheck application fee (up to $85 every 4.5 years, through a TSA official enrollment provider) for expedited airport security and expedited U.S. customs screening when charged to your Platinum Card®.*

*enrollment required

These are just a few of the Amex Platinum’s statement credit benefits. Overall, the Amex Platinum offers $100 more in hotel credits and up to $320 in Uber-related statement credits — which may be more practical than Robinhood’s autonomous ride credits, if you use them for rideshare.

The Amex Platinum’s $400 Resy credit is also higher than the Robinhood’s $250 annual dining credit. Although the credit is limited to Resy restaurants, that’s roughly 25,000 bookable restaurants globally. The Robinhood card’s credit applies to “more than 15,000 local restaurants.”

On the flip side, the Amex Platinum’s $200 Oura credit could be more restrictive than the Robinhood Platinum’s general $200 credit for health wearables. As you can see, there’s a decent amount of small tradeoffs back-and-forth between these two cards, so double-check which benefits best overlap with your spending.

Lounge access

When it comes to airport lounge access, the Robinhood Platinum offers (fairly standard) Priority Pass access.

Meanwhile, the Amex Platinum gets you entry into Priority Pass airport lounges (enrollment required), American Express Centurion Lounges, Plaza Premium Lounges, Escape Lounges, Lufthansa Lounges and Delta Sky Clubs when flying an eligible same-day Delta flight.

Insurance

The Robinhood Platinum offers travel insurance coverage provided through Visa Infinite, including (but not limited to):

• Trip Cancellation
• Trip Delay
• Baggage Delay
• Baggage Loss
• Missed Connection
• Auto Rental Insurance

The American Express Platinum offers extensive travel protections — including trip cancellation and interruption insurance, trip delay insurance and baggage insurance and primary auto rental coverage — often with higher limits than the Robinhood Platinum. For example, Robinhood’s Trip Cancellation coverage tops out at $2,000 per insured person, while the Amex Platinum can cover up to $10,000 per trip.

Additional benefits

On top of the statement credits and other perks, the Robinhood Platinum card comes with these additional ways to get value:

• DashPass Membership
• Function Health Membership
• Amazon One Medical Membership
• Oura Membership
• Annual Robinhood Gold Membership

The Robinhood Platinum offers more health-related statement credits than other premium cards, and it includes subscriptions to both Function Health and Amazon One Medical. Function Health focuses on more advanced lab testing and personalized health protocols, while Amazon One offers 24/7 on-demand virtual care and same- or next-day appointment booking in many U.S. cities.

The Robinhood Gold membership you receive comes with a handful of perks, including a 3.35% APY on eligible brokerage cash, access to bigger instant deposits, discounted index options trading fees and more.

One area where the Amex Platinum has a clear advantage is elite status. The Amex Platinum Card offers a myriad of complimentary hotel and rental car elite statuses after you enroll, including Marriott Bonvoy Gold, Hilton Honors Gold, Leaders Club Sterling, Hertz President’s Circle, AVIS Preferred and National Emerald Club Executive status.

Both cards carry fairly high annual fees. The Robinhood Platinum Card charges $695, and the American Express Platinum charges $895 (see rates and fees). Neither card charges foreign transaction fees.

With the Robinhood Platinum, you can add authorized users at no additional cost, while additional Amex Platinum cards have an annual fee of $195. It’s worth noting that some of the Robinhood Platinum benefits will not be available to authorized users unless they pay a $395 annual fee. Those benefits include: Function Health annual membership, Amazon One Medical annual membership, Oura membership, Priority Pass Select membership and Global Entry/TSA PreCheck reimbursement.

While you do have to pay right off the bat for an additional Amex card, it automatically extends key perks to authorized users, like Global Entry or TSA PreCheck® fee credits, lounge access and hotel and rental car elite status.

Overall, the Robinhood Platinum has a lower annual fee and free authorized users, while the Amex Platinum offers broader authorized user benefits at a smaller additional cost.

Both of these premium cards deliver thousands of dollars in annual value. However, the Robinhood Platinum Card may be more worthwhile for current Robinhood users, while the Amex Platinum offers a broader range of perks.

Go for Robinhood Platinum if you want:

• A complimentary Robinhood Gold membership + cash back: Those who are already active in their investing with Robinhood can receive a complimentary membership and earn cash back that can be directly invested.
• More health-focused statement credits: With both a Function Health and Amazon One Medical membership, plus credits for health wearables, this card has a stronger focus on physical improvement.
• $0 authorized user fee: If you’re not interested in your authorized user having access to more premium perks, this card won’t charge for extra users.
• You don’t mind waiting: The Robinhood Platinum is currently invite-only (with the option to request access), so approval may take some time.

Go for the Amex Platinum if you want:

• A welcome bonus: While the welcome bonus varies, you could earn as high as 175,000 Membership Rewards® points after spending $12,000 in eligible purchases on your new Card in the first six months of Card Membership. That’s at $1,750 in value toward travel.
• Flexible travel points/access to transfer partners: Instead of earning simple cash back, this card earns points that can be transferred to one of Amex’s 20 different travel partners for even more value.
• Larger airport lounge network: The Amex Platinum provides access to a wider variety of airport lounges, including premium Centurion Lounges.
• Complimentary elite travel status: The card offers complimentary elite status with well-known brands like Marriott, Hilton and Hertz, which provide greater perks and benefits.

For the general population, if you’re interested in a premium travel credit card, you’ll likely find better value in the American Express Platinum Card. It offers a wider range of perks, likely more usable statement credits and higher-quality airport lounge access.

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For rates and fees of the American Express Platinum Card® click here.