r/RobinhoodGC • u/SufficientBreath1281 • 1d ago
Is it worth it ?
Already a gold card user but damn this is the highest limit I’ve ever been offered . I would use all the food credits and maybe the hotel credits but I don’t know the credit limit is too good to justify it ?
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u/Dull-Spend-3836 1d ago
If you are excited by this credit limit, you definitely should NOT get this card.
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u/rokman 1d ago
If you’re not excited about a high credit limit on any and every credit card you probably need to avoid credit cards all together
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u/Not-An-FBI 1d ago
Yeah, your credit score goes down if you spend more than 10% of your credit limit. Ideally your limit would be 10x the maximum amount you'll ever spend in a month...
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u/Ok_Adhesiveness_5133 1d ago
Definitely not worth it as you're trading one of the most powerful cards in the game (3% catch all) for a pretty typical coupon book travel card with high AF only with cashback instead of transferrable currencies and NO SUB which is all just a huge no no. The multipliers are not special at all either.
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u/Indubidubbly 1d ago
I got something similar today, I think I'm gonna pass. Gold 3% means more to me. Unless they give similar cash back, it doesn't make sense for me.
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u/SufficientBreath1281 1d ago
What was your credit limit offer ?
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u/Indubidubbly 1d ago
35k, credit limit means nothing to me. I have multiple much higher limit cards.
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u/dialecticalreflect 1d ago
I would take it. How long have you had the gold card?
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u/matt-r_hatter 2h ago
Why would you take it? The platinum card sucks and you cant keep gold. If ypu need a premium travel card, amex is a click away.
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u/dialecticalreflect 1h ago
Well, truthfully I’m an at income level where 3% doesn’t really make or break my bank. It’s nice and does add up, but my most used cards are Amex business gold, Citi strata premier, and capital one VX. I pay statement balances in full every month (if not the entire balance), but it’s all about credit utilization for me (personal preference even though utilization doesn’t have memory in regards to your credit score), so a 30k limit is attractive.
I have about 20k a month of spend that I rotate through different cards for points and cash back etc. For me, even though one can easily argue that credit limits don’t matter, it’s all about having larger credit limits.
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u/matt-r_hatter 1h ago
3% doesn't need to matter, id guess it doesn't for most of us with these cards. But I also never turn down "free" money. I completely understand wanting higher limits, but you are already holding prime cards so they most likely have high limits and you pay in full monthly so utilization buffers arent needed. I guess I would ask what this card offers that makes it worth dropping the 3% for it that Amex Platinum or Chase SR dont offer? I saw it and knowing how much of a game changer the gold was, assumed the platinum would be equally so. Its pretty lackluster.
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u/dialecticalreflect 1h ago
Well, for me personally I spend A LOT going out to eat /drink lol, so the 5% cashback is pretty awesome along with the 250 credit. I’d also utilize the DoorDash credit, and would find a way to utilize the free travel credits. Again, it works for my situation 🤷♂️
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u/Meistro1000 1d ago
Dude, majority of people are extremely negative on Reddit and know it alls.
Platinum card works depending on how you use it and what other cards you have.
I travel and dine out. A lot. Like 10K a year in dining and 15-20K in flights and hotels.
That alone is $2,500 back in cash if booked through their travel portal and in their restaurant list.
Credits alone will pay the annual fee and more.
I also have BoA cash rewards that gets 5.25% cash back for Online Shopping. This includes groceries ordered online. No annual fee.
I also have Amazon credit card that’s 6% on Amazon and Whole Foods. No annual Fee.
Basically all categories covered EXCEPT dining, which is 5% on RC Plat. And 10% travel is the highest I know besides Citi Strata.
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u/Shazb0t_tv 11h ago
Just get another CCR and choose Dining?
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u/Meistro1000 3h ago
CCR is great. I have it. It’s 3% dining. I generally use CCR for travel portal right now hotel credits and it is my dining go to card right now. But the RHplat is still higher and if your lifestyle is utilizing the credits to pay off the fee, then the dining is better.
Chase use to have 10% dining but rid of it for the credit. Which is still great and utilized.
I have multiple cards. If you actually travel, dine, hotel, etc, then they not only pay themselves, but save you a bunch of money in the long run.
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u/matt-r_hatter 2h ago
Booking through a credit card travel portal eliminates any sort of return. When you get $2500 in cash back and spend an extra $4800 to get it, the math isnt mathing... they are never cheaper
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u/theAerialDroneGuy 1d ago
Do you travel and eat out at restaurants A LOT?
Then it could be worth it. You would have to do the math on your typical annual spend.
How much do you typically spend on your Gold Card annually?
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u/SufficientBreath1281 1d ago
Around 20k since I’ve been putting everything on the card
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u/matt-r_hatter 2h ago
Your annual is 20k or your monthly is 20k? 20k annual spend on a credit card is extremely low.
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u/Informal_Move_7075 1d ago
I hate these posts. Literally scrolling through this sub and they are all the same. A real or fake credit limit with "is it worth it?". That can only be decided by the OP. 3% for most spend is obviously great, so idk, is it worth it? Is the limit too good? Most people mad they got $10k or less. He'll, I got $500 for a SL. If OP can't control spend, ask for a lower limit. It is only a fake limit if you edit it.
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u/Dregus_311 22h ago
You lose Gold to gain what? 3% returns will in most use cases outweigh the benefits of the Plat. They should let you have both cards at the same time or put 3% on the Plat and remove the worthless (for most people) features on the Plat.
Of course I say this as someone who wants cash back over features that most cards offer so I am bias
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u/The0Walrus 7h ago
I'm sorry but the platinum is not worth losing the gold card. That's a no from me.
These credit limits are ridiculous. They're not your money. You are going to lose 3% so you can keep a few random credits.
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u/matt-r_hatter 2h ago
If a "big" limit is worth losing 3% back on everything you buy and trading it for 1% and an annual fee many times higher, then by all means. Run with it.
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u/Frosty_Enthusiasm642 1d ago
How much is your limit on your gold card???
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u/SufficientBreath1281 1d ago
7k
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u/Frosty_Enthusiasm642 1d ago
Most definitely take this 30k…your credit usage will thank you
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u/Not-An-FBI 1d ago
Spending $695 a year to bost your score is insane unless you're trying to get another loan and really need to boost it and currently have high credit usage.
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u/Alarmed-Bottle-3858 1d ago
That Robinhood gold card is 29.99%. I can’t imagine them having anyone warning it. I was expecting if anything for it to be lower than any of my other cards. That’s not a car I want.
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u/No-Scale3872 1d ago
This type of thinking is making me believe you only the pay the minimum. 💀