Robinhood CEO on new credit card: We're against additional fees

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  • Опубліковано 28 вер 2024
  • Trading platform Robinhood (HOOD) will be launching its first credit card - the Robinhood Gold Card, a premium card exclusive to Robinhood Gold members.
    Robinhood CEO Vlad Tenev sits down with Yahoo Finance Executive Editor Brian Sozzi to discuss the company's foray into the credit card space as it expands past being just an investment site:
    "We care about... growing the ecosystem. When we look at customers that sign up for Gold, we see that they adopt our other products at a much higher rate. The average revenue that we generate as a business from these customers scales with the amount of value we're giving them."
    Tenev goes on to detail Robinhood's vision for its customer experience as it helps users not only trade equities, but also invest and save for their retirement.
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    #robinhood #creditcard #yahoofinance

КОМЕНТАРІ • 71

  • @ericwood3709
    @ericwood3709 6 місяців тому +8

    This is why I'm both using Robinhood and holding its stock right now. This company is headed in the right direction and will very likely continue to see a lot of growth.

  • @saz5102
    @saz5102 6 місяців тому +19

    If you still hate Robinhood
    You're stuck in 2020..mad you lost money

  • @Stallion2K-m7z
    @Stallion2K-m7z 6 місяців тому +8

    There is no annual fee, but you have to pay $5 a month to have access to the card thru robinhood gold. So it's really there's a $60 annual fee lol

    • @ziggy7457
      @ziggy7457 6 місяців тому +5

      Anyone using Robinhood is invested in the stock market so they will have additional funds to use a credit card. They generally have higher credit scores. And gold membership is great if you’re already using Robinhood. The card really feels like a bonus on top of the membership. 3% back on everything is too good.

    • @stonerwolf887
      @stonerwolf887 3 місяці тому

      Yea you pay 5 dollars a month for gold but you get 5% interest on all uninvested cash so they are paying you in the long run

  • @Ckdude100
    @Ckdude100 6 місяців тому +1

    The rewards are crazy good. Definitely the best. The big question is whether it’s sustainable.

  • @matthew.m.stevick
    @matthew.m.stevick 6 місяців тому

    That card looks sick. There is irony in the idea of robinhood getting into the credit card business though right?

  • @RobMata
    @RobMata 6 місяців тому

    They bought x1 back in June, so this is not news

  • @nerdobject5351
    @nerdobject5351 6 місяців тому +1

    We have reached PEAK financial illiteracy. A company shilling single stocks as impulse buy now offers a credit card claiming it can “build wealth”.

  • @jermainemyrn19
    @jermainemyrn19 6 місяців тому

    Who trusts robinhood

  • @xmoinxmoin5215
    @xmoinxmoin5215 6 місяців тому +1

    Things are getting weird I was literally thinking about why Robin hood don't have a premium card and boom open the app and there's a premium card

    • @JUNKJACKZACK
      @JUNKJACKZACK 6 місяців тому

      I've always wondered the same. The big issue I simply have with the robinhood debit card was that I had to transfer the money there just to use it. I just want a card that works without thinking about having to transfer money. Unlike the cashapp card where I can use the money on CashApp as a payment to my friends, buy bitcoin, and spend on my card it has more reason for me to use than the robin hood debit card. So the Credit card will be likely my next card no doubt.

  • @neilmoran9988
    @neilmoran9988 6 місяців тому

    Joke

  • @sais1373
    @sais1373 6 місяців тому

    This guy is just the face, Robinhood has good ideas but this guy can’t seem to talk about it. Someone else is behind Robinhood strategy 😂

    • @sonny5982
      @sonny5982 6 місяців тому

      right that’s why he is the billionaire ?😂

  • @DCKontakt
    @DCKontakt 6 місяців тому +16

    idgaf, I like RH

  • @neilmoran9988
    @neilmoran9988 6 місяців тому

    Joke

  • @franciscoblanco3764
    @franciscoblanco3764 6 місяців тому +8

    RH is one of those infant companies that will take sometime for the market to realize it’s simplistic approach to future of financing. It’s a shaker of market and I guess that’s part of the reason it’s slow at starting because of old money pushing back on this movement.

    • @nerdobject5351
      @nerdobject5351 6 місяців тому

      Impulse buying singles stocks on a credit card “is the future”. Americans wonder why they can’t get ahead.

  • @X_crypto1977
    @X_crypto1977 6 місяців тому +4

    We just need a credit/debit card that allows you to transfer crypto from cold storage wallet to card to transact anywhere, anyplace and at anytime in whatever local fiat currency your choice of destination desires…also allows you to withdraw paper from any ATM around the world

  • @tuco1514
    @tuco1514 6 місяців тому +9

    In Keanu Reeves we trust🎉

    • @winterheat
      @winterheat 6 місяців тому

      if he wears a green suit, he looks like Robinhood

  • @DJunderground73
    @DJunderground73 6 місяців тому +10

    When they ask about the requirements why did they skip over the requirement for credit is a 690 minimum..

    • @JUNKJACKZACK
      @JUNKJACKZACK 6 місяців тому +9

      That sounds like reasonable minimum if you ask me. If someone can't manage a minimum 700 they do not need more.

    • @blipblop92
      @blipblop92 6 місяців тому +5

      Keep out the bad debt so people with good credits can save more

    • @TrueValience
      @TrueValience 6 місяців тому

      Not unreasonable

    • @TheSmokinPotato
      @TheSmokinPotato 6 місяців тому

      I was in 2k debt and had a missed payment my score never went under 700

  • @XxXK9
    @XxXK9 6 місяців тому +1

    SOFI needs to one up the HOOD credit card this year. Or they will be losing a lot if customers. 3% for a year then back to two is not enough

  • @erikthompson8116
    @erikthompson8116 6 місяців тому +15

    I'm old enough to remember when Robinhood froze everyone's assets during the COVID crash. Wouldn't trust this card as far as I could throw it.

    • @1paulwang1
      @1paulwang1 6 місяців тому +1

      Yes, how soon people forget. Will never use robin hood

    • @J19118
      @J19118 6 місяців тому +4

      people forget other brokerages did as well. Robinhood has the best UI & app out in the market.
      It is still a good company for the average person.

    • @y2z1com
      @y2z1com 5 місяців тому

      that's a problem for asset, not for debt.

  • @TEPxplay
    @TEPxplay 24 дні тому

    Robinhood turning into a bank.

  • @LutherAllen-m3v
    @LutherAllen-m3v 6 місяців тому

    YEAH GEORGIA
    CLAIRE IS DATING THAT GUY
    ALRIGHT, WAY TO GO CLAIRE
    I AM SO PROUD!
    DONT LISTEN TO YOUR MOTHER, SHE WANTS YOU TO DATE A CASHIER OR A DJ
    WAY TO GO! KIDDO!
    I TAKE HIM TO LA KINGS GAME!
    CANT WAIT TO WALK YOU DOWN AT THE AISLE! GOOD JOB, KIDDO!

  • @AmericanWears
    @AmericanWears 6 місяців тому +1

    If visa signatures interchange fees are at 2.5% + 0.10. How are you able to give 3% back?

    • @franciscoblanco3764
      @franciscoblanco3764 6 місяців тому +3

      As experts in the financial markets, I think they will be able to double your deposits and can offset the 3% cash back reward. I think eventually they may put a cap on it like most other credit cards. But for now the mission is to get the masses attention and start seeing Robinhood as a serious player. Idk just my thoughts.

    • @active1508
      @active1508 6 місяців тому

      Robinhood DOGECOIN profits will soon EASILY cover ANYTHING they want to innovate. FATE LOVES IRONY!

    • @JUNKJACKZACK
      @JUNKJACKZACK 6 місяців тому +4

      Because people do not pay their card off. This is who pays for the 3%.

  • @2eazy638
    @2eazy638 6 місяців тому

    Still salty about the amc days. Will never use robinhood. Trash.

  • @LutherAllen-m3v
    @LutherAllen-m3v 6 місяців тому

    YEAH BEN. OF COURSE I AM PROUD
    I CANT WAIT FOR FACEBOOK POSTS AT THE KINGS GAME

  • @Ceez518
    @Ceez518 6 місяців тому +1

    Not worth the $5 a month to join Gold

    • @benmoisio232
      @benmoisio232 6 місяців тому +1

      They are doing 1% match on money transfers into RH now so if you deposit more than $6k a year you actually make more money than it costs

    • @stonerwolf887
      @stonerwolf887 3 місяці тому +1

      And 5% interest deposited monthly back into your account

  • @toyarj37
    @toyarj37 6 місяців тому

    I can’t stand this man

  • @kalatitati8795
    @kalatitati8795 6 місяців тому

    Gemini Credit Card

  • @Koushi82
    @Koushi82 6 місяців тому

    Robbing the hood and apolloshill

  • @Redoer
    @Redoer 6 місяців тому

    This is not for those building credit or with a low score

  • @LutherAllen-m3v
    @LutherAllen-m3v 6 місяців тому

    CANT WAIT FOR LA KINGS GAME

  • @X_crypto1977
    @X_crypto1977 6 місяців тому +1

    We just need a credit/debit card that allows you to transfer crypto from cold storage wallet to card to transact anywhere, anyplace and at anytime in whatever local fiat currency your choice of destination desires…also allows you to withdraw paper from any ATM around the world.

    • @active1508
      @active1508 6 місяців тому +1

      Wait until Elon unleashes DOGECOIN on the "X" Platform! FATE LOVES IRONY!

  • @LutherAllen-m3v
    @LutherAllen-m3v 6 місяців тому

    YEAH DAN, ALEX
    TRULY PROUD. TRULY PROUD INDEED

  • @brad265
    @brad265 6 місяців тому +3

    "Me too product". The man sounds like Steve Jobs.

    • @Koushi82
      @Koushi82 6 місяців тому

      Or robbing the hood

    • @brad265
      @brad265 6 місяців тому

      @Koushi82 without em we wouldn't have free trades on every platform

  • @anahitaaalami9064
    @anahitaaalami9064 6 місяців тому +9

    I want that gold card !

  • @Sydrel
    @Sydrel 6 місяців тому

    ill stay with the debit card lol

  • @mxweng
    @mxweng 6 місяців тому

    It's not free; $5 per month for Gold members.

    • @sonny5982
      @sonny5982 6 місяців тому

      gold membership wasn’t made for credit card . credit card was made for gold membership. Gold membership already had its perks

  • @chrisrippy2288
    @chrisrippy2288 6 місяців тому

    Robinhood froze trading to help Citadel in 2020. Not trusting anything they decide to put out

  • @vinouomo9127
    @vinouomo9127 6 місяців тому

    I can verify the Robinhood platform is pathetic & disgusting, it would be comical if it wasn't so tragic..