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When it comes to managing your money or earning rewards, I’m a big fan of eliminating unnecessary complications. So I love the simple structure of a competitive flat-rate rewards credit card, like the Wells Fargo Active Cash® Card. But the gold standard in credit cards is facing new competition.

The Robinhood Gold Card* was recently announced and offers 3% back on every purchase — and a competitive 5% back on travel booked in the new Robinhood travel portal. That’s a higher rewards rate than the Active Cash, which recently won a CNET Editors’ Choice award for its competitive rewards and ease of use.

The catch? You’ll need to be a Robinhood Gold member to apply, which costs $5 a month. That brings the annual cost up to $60 a year, but if you pay annually, it will only cost you $50, saving you an extra $10. That’s not a steep fee, but is it worth the cost when most 2% flat-rate cards don’t charge an annual fee?

Let’s find out.



CNET’S PICK


Robinhood Gold Card

6.5/10
CNET Rating



CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards

Intro Offer

No current offer

Annual fee
N/A

APR
20.24% – 29.99%

Rewards rate

3%
– 5%



5% cash back when you book travel through the Robinhood travel portal; 3% cash back on all categories for eligible purchases

5%

5% cash back when you book travel through the Robinhood travel portal

3%

3% cash back on all categories for eligible purchases

Will you earn more with the Robinhood Gold Card vs 2% flat-rate rewards credit cards?

If we focus just on flat-rate rewards, the Robinhood Gold card can earn more in rewards after you hit a certain spending threshold.

Let’s say you spend $1,000 a month regularly with a 2% flat-rate card like the Active Cash. Assuming you pay your bill in full and don’t accrue interest or penalties, you could earn $240 in a given year.

If you spend the same amount with the Robinhood card and earn a flat 3% rewards rate, you’d earn $360. When you subtract the Robinhood Gold membership’s annual cost ($50), that brings your earnings to $310 — $70 higher than you would earn with a 2% flat-rate card.

But if you spend less than $400 a month, you’ll earn more with the Active Cash (assuming you pay $50 for the annual Robinhood Gold membership).

How much you can earn in rewards each year, after annual fees:

Credit Cards $200 monthly spend $400 monthly spend $1,000 monthly spend $2,000 monthly spend
Robinhood Gold $22 $94 $310 $670
Wells Fargo Active Cash $48 $96 $240 $480
*Assumes you earn the Robinhood Gold’s 3% flat rate and Active Cash’s 2% flat rate

Other rewards rates and perks to consider

Aside from the flat rewards rates, you’ll also want to weigh other benefits each card offers. While the Robinhood Gold could net you a bigger return, the Active Cash offers an easy-to-earn welcome bonus that can earn you an extra $200 in cash rewards after spending $500 in purchases within the first three months of account opening. When you take this bonus into consideration, the tables turn slightly.

How much you can earn in rewards the first year, after annual fees, including welcome bonuses:

Credit Cards $200 monthly spend $400 monthly spend $1,000 monthly spend $2,000 monthly spend
Robinhood Gold $22 $94 $310 $670
Wells Fargo Active Cash $248 $296 $440 $680
*Assumes you earn the Robinhood Gold’s 3% flat rate and Active Cash’s 2% flat rate

With the additional $200 welcome bonus, the Active Cash becomes the clear winner — but only for the first year. After that, the Robinhood Gold would eventually start to pull ahead.

What about the Robinhood Gold Card’s travel rewards?

If you plan on booking travel with your card, then the Robinhood Gold can earn 5% rewards through its travel portal. While that sounds great — and it may be — the card isn’t live yet. You’ll need to add your name to the card’s waitlist. So we don’t know enough about how the travel portal works to determine if it’s worthwhile. 

It’s worth keeping a eye on, but if you already earn a 5% rewards rate with a travel card like the Chase Sapphire Preferred® Card, Capital One Venture Rewards Credit Card* or the new Wells Fargo Autograph Journey℠ Visa®*, I wouldn’t jump ship just yet.

Redeeming rewards is also more challenging

How you like to redeem your rewards will help you decide which flat-rate card is best for you. You might earn more with Robinhood’s card and you can technically redeem your rewards as cash-back, but it’s not always that simple. You’ll need to transfer your rewards to your Robinhood brokerage account and then transfer them to a linked bank account. 

The Active Cash makes it easier to redeem rewards for cash back, cutting out this two-transfer step. But if you’re looking to invest your rewards or earn the same 1% redemption rate when using them at checkout, Robinhood’s card has the edge. 

How Robinhood Gold stacks up to the competition

Here’s a more comprehensive look at how the Robinhood Gold card compares to similar flat-rate cards, like the Wells Fargo Active Cash and the Citi Double Cash® Card.



CNET’S PICK


Robinhood Gold Card

6.5/10
CNET Rating



CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards

Intro Offer

No current offer

Annual fee
N/A

APR
20.24% – 29.99%

Intro Purchase APR
N/A

Recommended Credit



A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.

N/A

Rewards rate

3%
– 5%



5% cash back when you book travel through the Robinhood travel portal; 3% cash back on all categories for eligible purchases


Wells Fargo Active Cash® Card

9.5/10
CNET Rating



CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards

Intro Offer

$200 cash rewards



Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.

Annual fee
$0

APR
20.24%, 25.24%, or 29.99% Variable APR

Intro Purchase APR
0% intro APR for 15 months from account opening

Recommended Credit



A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.

Good – Excellent

Rewards rate

2%



Earn unlimited 2% cash rewards on purchases


Citi Double Cash® Card

8/10
CNET Rating



CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards

Intro Offer

$200 cash back



Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Annual fee
$0

APR
19.24% – 29.24% (Variable)

Intro Purchase APR
N/A

Recommended Credit



A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.

Fair – Excellent

Rewards rate

1%
– 5%



Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time.; Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.

Should you sign up for the Robinhood Gold card?

If you’re already a Robinhood Gold member, signing up for this card is a no-brainer — unless there’s another rewards card you like more. If you’re not a member, you’ll want to look at how much you spend each month and consider how you like to redeem your rewards. 

*All information about the Capital One Venture Card, Robinhood Gold Card and the Wells Fargo Autograph Journey has been collected independently by CNET and has not been reviewed by the issuer.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.



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