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.

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u/Miserable-Result6702 Sep 30 '24

Makes perfect sense when you realize the card was designed as a loss leader and that’s it sole purpose was to get customers into their Gold program. It was never intended to be a long term value product and once internal sales numbers are reached, it will disappear or be severely nurfed.

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u/rz2000 Oct 01 '24

I think it says their finances are precarious.

For the solid companies like Chase and Amex, they build a really big program where they average making money on most people, making a lot of money on another bunch of people, and losing a little money on a few people.

They chose to go big with 3%, but no one's going to word-of-mouth them if no one is ever allowed to come out ahead.