r/RobinhoodGC

Credit limits
▲ 16 r/RobinhoodGC+1 crossposts

Credit limits

Here you go. Now, i hope Robinhood would put something out as to a plan that we can utilize to increase our limits, if so desired. The document says "based" on but no particulars. We do not know if they reference standard "common knowledge" cc practices or Robinhood specific practices. Not that any specific credit bank does... but we cannot assume Robinhood follows or dismisses traditional credit building techniques. I would hope it does not remain a mystery. Please contribute your findings.

u/Financial-Seesaw-817 — 4 days ago

Platinum Card Offer

Hey everyone,
I just received the offer/invite to upgrade to the Robinhood Platinum Card. My current physical Gold Card is getting pretty beat up and worn down. I also don’t plan to upgrade but I’m trying to score the physical card if possible.

  1. Is there a trial/grace period/downgrade path? I heard about a trial or short window to test out the Platinum features and downgrade if the $695 annual fee isn't worth it. Does anyone know how downgrading back to the Gold Card works?

  2. Downgrading & Physical Cards: If I end up downgrading back to Gold down the road, can I still use the new platinum card as my Gold card if a downgrade is possible?

Mainly wondering if upgrading just to try it out (and score a fresh card) is a viable path or if it's a pain to reverse once you upgrade.

Appreciate any insight from anyone who has gone through the upgrade process!

u/xxrn — 5 days ago

Gold Card credit limit

I currently have a $1K limit for the GC. The 3% cashback is sweet and I'm using the card for basically everything payable by GC. My monthly spending can easily go $2K. I have the autopay on for weekly, don't want to have super high utilization at the end of statement. Here are two things I'm wondering:

  1. Is it fine to spend more than $1K on the GC per statement? I understand that by paying off balance every week, my available credit will be restored but should I spend over the total of $1K for one statement? I don't want it to affect my credit score because I'm trying to build it.

  2. Is it a good idea to ask Robinhood for a credit increase with my situation?

reddit.com
u/Stock_Accident8033 — 5 days ago

Margin Help

Well guys and gals, I have been reading plenty of Margin usage with SGOV to pay off the yearly fee, or use them on ETFs etc...

The real question is, as i would open a secondary account for margin use instead of main account (as I've read around)

Which account to use?

- Self Invested

- Managed by Robinhood

- Smart Income by Robinhood

-Roth IRA

Would be of great help to know these things. And any other pointers would be fantastic too.

reddit.com
u/RebelLando — 5 days ago

Fiance got off the wait-list in a month, maybe they've started making it easier to get?

My fiance had no prior accounts with Robinhood, same as me, and got approved for a $3k limit after a month of waiting.

I waited about 2 years but had no prior relationship or accounts with Robinhood either and got a 10k limit. Hopefully they've started allowing more people into the system!

reddit.com
u/2milliondollartrny — 5 days ago

Reminder that the travel portal is trash

RH keeps giving me push notifications for their travel portal. Never once have I seen a good price there. For comparison, here's the RH portal next to the C1 portal (C1 price matches) next to Google.

RH is more than double the cheapest option found on Google.

Edit: Google photo is cut off. There was options as low as $135

u/summerjamsam — 14 days ago

Robinhood reduced cash back for hotel?

did robinhood reduce the cash back for booking through their travel portal? i swear it was 5% a couple weeks ago and now it’s 3%…

u/ramenoodles-__- — 13 days ago