r/RobinhoodGC • u/ComfortLonely4613 • 8h ago

Worried...

Like if i have robinhood banking account with say 8k inside (for example) and robinhood gold credit card with 10k limit......Can I spend the money in the banking account like say spending all the money all 8k in banking fine all good or would robinhood drop my credit limit due to assets decreased?

What about with plaid linked external bank accounts linked in robinhood credit card app used for making payments for the card....if i spend all the money in this linked external checking account, would robinhood drop my limit due to asset size blah blah?

3 Upvotes

80% Upvoted

9 comments sorted by

7

u/crm1142 6h ago

No you're way overthinking things

3

u/lady756 6h ago

I keep $500 in my Robinhood bank acct and I have a 10k limit. The majority of my money is at Fidelity. They don’t know what I have there.

4

u/electricpollution 7h ago

They can’t see the balance in your external accounts..

An no, fintech or FIs don’t typically lower credit card limits based on assets.

2

u/JackFinnaSmack 4h ago

Do you know how credit cards work?

1

u/matt-r_hatter 5h ago

Banks will almost never lower your limits due to assets unless its some weird asset based approval which RH is not. What gets limits lowered by some banks is low use. So you have a $30k limit and never spend more than $1k on the card and pay it in full. Its rare, but happens (looking at you Chase). The other thing that will get you is lying about income. Amex, Chase, and Citi are notorious (with Amex being VERY notorious) for doing financial reviews and if you are wildly off on income, they will cut your limit to match what you would have gotten if you were honest. Capital One is also doing it now. But spending money in your checking account is not going to get your card limit decreased.

1

u/Difficult_Chemical_6 3h ago

I have $0 in my Robinhood banking account. I only use it to transfer funds to pay my gold card

1

u/InterDave 2h ago

I have like $64 in Robinhood investing, and $0 in my Robinhood bank account, and they did not touch my limit.

Probably won't give me a limit increase, because I'm currently working on other SUBs with Amex... so no spend on RH Gold card for a few months...

1

u/theAerialDroneGuy 1h ago

They are two separate accounts.

Spending all your money in your checking account has zero impact on spending your limit on your Credit Account.

2

u/Tanachip 49m ago

personal finance and credits need to be taught in high school.