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    Do you think robinhood 3% is sustainable?

    As more and more people get the card do you think it is sustainable at 3%. I am starting to feel like I should look at backups. Considering how terrible the robinhood plat card looks I feel like they will nerf the gold soon.

    Do you think robinhood 3% is sustainable?
    byu/skyman5150 inCreditCards



    Posted by skyman5150

    7 Comments

    1. KCPilot17 on

      Depends how many people don’t pay their bill on time.

      No sense in rushing to a solution with no current problem.

    2. RealSoil3d on

      I don’t think a nerf will happen for at least another two years or until the economy suddenly changes. Greatest card out there now, use it while you can

    3. Cyberhwk on

      I think they’re losing money on it if that’s what you’re asking. I don’t think it’s as bad as a lot of people are making it out to be though. Their credit limits tend to be lower, they’re very diligent about policing high-spend categories (and enforce things strictly and severely), there are a lot of people that do not redeem ideally, and they have a lot of levers they can pull other than nerfing the 3% straight away. Just going to depend on their appetite for continued losses as compared to their desire for customer acquisition.

    4. jimmothyhendrix on

      First off, I don’t understand why everyone around is so neurotic about this. If they nerf the card you can apply for a new 2% card and have it mailed to you one week later. The AF is $50, so worst case if they nerf everyone suddenly that’s the most you can lose, and it probably wouldn’t be immediate.

      Second, I think it’s pretty sustainable for the time being since it’s a loss leader to get people into their financial services ecosystem. If someone gets a RH gold and then moves their IRA or HYSA they probably make money, especially with robinhoods younger demographics who probably aren’t spending a bunch on the card. 

      Will it be nerfed when they feel they’ve gotten all they can? Maybe. But there’s zero evidence to show that this will happen soon. It could happen in a six months or six years from now. 

    5. EmbarrassedReach3001 on

      No, RH and Coastal Community Bank are not going to magically achieve what no major lender 20x their size has been able to make profitable. They’re subsidizing it and accepting losses at the moment on it, so it’s just a matter of how long they want to keep doing that.

      That doesn’t mean you shouldn’t take advantage of it for as long as you possibly can.

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