Robinhood’s new $695 Platinum card vs. $895 Amex Platinum: Which one has better perks?

Core Insights - Robinhood is entering the premium credit card market with a $695 annual fee Platinum card, aiming to compete with established players like American Express, Chase, and Capital One [2][5] - The card is marketed as "invite-only" but is accessible to anyone who requests it on Robinhood's website, emphasizing exclusivity [3] - The target demographic includes younger, novice investors who are already using Robinhood's investing platform [4] Comparison with American Express - The Robinhood Platinum card has a lower annual fee of $695 compared to American Express's $895, which may appeal to frequent users of Robinhood [6][8] - While Robinhood offers cash back that can be redeemed for statement credits or cash to reinvest, American Express is noted for having superior rewards flexibility and perks [6] - The Robinhood card is designed to cater to a new generation of customers whose financial needs have evolved, contrasting with the long-standing American Express Platinum card that debuted in 1984 [4][7]