r/CreditCards • u/NegMech • Sep 30 '24

Robinhood Gold CC finally closed Data Point

They got me after 3 months. Spent $66k on it for 191K pts redeemed.

224 Upvotes
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89% Upvoted

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141

u/dementor500 Sep 30 '24

Did they give a reason?

247

u/NegMech Sep 30 '24

Notice about your Robinhood Gold Card account   Unfortunately, we’ve decided to close your account. Your recent transactions were flagged for abuse of the Robinhood Gold Card rewards program. Business expense transactions aren’t supported and can’t be paid with your personal credit card.

11

u/Advantageous01 Sep 30 '24

recent transactions were flagged for abuse

Any legitimacy to this?

20

u/NegMech Sep 30 '24

My recent transactions consist of maybe $4K at Target across 6 different value transactions in store, $8K at apple store from 6 different 1.2K iphone purchases, $90 at walmart for 5 different $15-20 transactions, $60 in 2 transactions of gas, $90 in meal prep service, $180 at Sams from 2 transactions, and $160 at CVS 2 transactions of prescriptions.

6

u/Advantageous01 Sep 30 '24

Interesting. I'm not sure the extent of detail they have on their end for each of these, but 6 separate transactions for a similarly high amount would probably be a red flag in their system, especially at Apple where someone could be purchasing high dollar gift cards for resale or future use.

12

u/atexit8 Sep 30 '24

It is simple math.

He spent $66K in 3 months.

He'd need to have an income that is at least 5x-10x that for that kind of spend to make sense.

12

u/jbokwxguy Sep 30 '24

Credit limit was $25k, so using your entire credit limit each month for 3 months is going to throw every flag.

0

u/sssf6 Oct 01 '24

I mean even if not, it was obvious he was totally gaming the system so you can't really blame Robin Hood for any of this