After about four months I got off the waitlist. In that time, however, I moved nearly all my banking to US Bank and use their Smartly card and get 2.5 percent cash back. I’m now not sure if I care to move to Robinhood.
APY of both RH and USB is 3.5 percent for savings. For USB, I have to have $10k in my checking account to get the extra .5 percent on my credit card rewards. So that’s another $30 a month (before taxes) I’d gain if I move to RH. And I spend around $6k a month on Smartly card (Amazon and groceries have their own dedicated cards) so with another .5 percent in rewards with the RH card, I would get another $25 a month.
Apart from the $55/month extra from moving to RH, are there any other benefits I’m not seeing? The use of the virtual cards seems awesome and I don’t like USBs app or UI that much.
Got Off the Robinhood Waitlist
byu/Ok_Information_4900 inCreditCards
Posted by Ok_Information_4900
2 Comments
Robinhood gold also has an IRA match. If you max out your ira it’s that’s about a free $225 per year.
The virtual cards thing is a neat plus, they make it so easy compared to other cards with the feature. It’s also pretty good for other benefits; my 2.5% Ollo card has served me dutifully but it has basically no benefits at all.
The IRA match is a good bonus but keep in mind that in order to make up the AF, you’d have to contribute ~$150/month. I’m sure that’s not an issue for most here but just an FYI