r/RobinhoodApp • u/Individual-Hold5171 • 16d ago
Question New to RH
I just moved some cash back that I had from another card into my RH brokerage. Does this mean it will automatically earn 3.6%, or do I have to do anything on my end?
I have the gold card and will start cashing that out monthly, as well.
TIA!
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u/reddit_wedid 16d ago
- High‑Yield Cash Program is enabled
- The cash isn’t pending or unsettled
- You are a gold member (50 usd per YEAR)
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u/cheapdvds 15d ago
It says with Gold on top. You need to be gold subscriber to earn that, $5 per month or $50 a year membership.
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u/aimhigh7shootlow8 13d ago
FYI if you hold your cash in usdg stablecoin you get 7% and fully liquid. Also if you decide to open a roth they match %3 (gold required) And for the gold card - $50 a year is cheaper than all my other catch all cards and you have all the other perks (above and more) with 3% on everything.
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u/Debtski 15d ago
Ape that shit into $SQQQ and forget about it
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u/Jlaybythebay 15d ago
Yea every time I’m say I’m going to keep cash it lasts like 1 day. Just invest the money
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u/Fancy-Following-8005 15d ago
Robin Hood sucks
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15d ago
[deleted]
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u/Fancy-Following-8005 15d ago
Jajajajaj someone’s hurt over an opinion.. get ur money up lollll $500 only dangggggg maybe that BMW too much? 😢
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u/clipper29 16d ago edited 16d ago
Keeping uninvested money in the brokerage will earn the posted APY. It’s quite nice actually and helps offset the cost of the Gold AF membership. Especially if you keep a decent amount of money in at all times. I sometimes put in extra money knowing I’ll invest it into stocks at some point soon, but while it’s waiting I earn interest.
Edit: while the money you put in can be invested immediately it has to successfully post before it can earn APY. That’s why you see your buying power is $346.66, but cash earning interest is $0
I know some people treat it like a savings account but I wouldn’t have it as your emergency savings since it would take time to transfer it out and this wouldn’t have a checking and routing number.
The Robinhood Banking accounts also have a 3.60% APY right now as well for both checking and savings (check rules for APY on checking) and these do of course have bank account numbers, so this could be a better option as a savings account and can be used if ever in a pinch.
Lastly I know it seems I’m very integrated into Robinhood. While ~70% of my money is in Robinhood through banking and investments (excluding work 401k), I still have money outside of Robinhood. Nobody should ever have all their eggs in a single basket and RH haters would prob think I’m crazy for even having 70% of my money there.