Robinhood Markets Inc., a California-based provider of an electronic trading platform, has announced a new premium product — the Platinum card — aimed at high-income users, Reuters reported.
The company’s Platinum card carries a $695 annual fee and offers cashback and other perks. Robinhood said these benefits could total up to $3,000 per year, putting it in line with premium cards from American Express and JPMorgan Chase. The American Express Platinum card costs $895 annually, while JPMorgan’s Chase Sapphire Reserve has a $795 annual fee. Both cards offer benefits valued at about $3,500 and $2,700, respectively.
Robinhood, which...