We currently only accept payments made through the app through a connected bank account. When you download the Robinhood Banking app, you can use any account that's already connected to your Robinhood account to make a payment. This includes your individual investing and banking accounts as well.

We don’t accept credit card payments by check or by mail. We may only accept checks for a one-time outgoing balance transfer. Review balance transfers below for details.

You can also choose to set up autopay or connect a bank account.

To make a payment:

1. Go to Menu (3 bars) → Platinum Card → Payments → Make a payment
2. Choose your preferences for how much you’d like to pay and when you’d like to make your payment
3. For the payment amount, you can choose: Full balance, Statement balance, Minimum payment, or Custom. You can also choose a different bank account to use or add a new bank account.

Payment timeline

Payments may take up to 4 business days for payments to be fully processed by both your bank and Robinhood. You can check the status of your payment in the app by going to Menu → Platinum Card → Payments. While your payment is processing, you can view the status of your payment as In Progress. Your payment will clear on your bank’s end before it finishes processing on ours. If you’re still seeing a payment appear as In Progress after 4 business days, contact our Credit support team within the Banking app. Note that sometimes In Progress payments may not update your available credit until they fully clear.

Scheduled payments

To schedule a payment for a later time, choose Pay later and the date you’d like the payment to begin processing. You can schedule payments through Menu (3 bars) → Platinum Card → Payments → Make a payment. Once a payment is scheduled, it won’t show up in your payment history until it begins to process on the scheduled date. You can cancel a scheduled payment at any time before the payment is set to begin processing.

If you’re interested in automatic payments, learn more about Autopay.

If you’d like the payment to process the same day, you can select Pay now instead.

Autopay

You can set up autopay to make payments with the following options:

• Pay full account balance weekly
• Pay full account balance biweekly
• Pay statement balance monthly
• Pay minimum payment due monthly

Note that the weekly and biweekly payment options are initiated on Fridays. Monthly payments will be initiated shortly after your statement is generated, but you can also choose a custom monthly autopay date that’s 2 days after statement close up until the due date.

You can set up autopay in the app by going to Menu (3 bars) → Platinum Card → Payments → Autopay. You can also change your preferences by selecting Edit.

Making payments

Each month you must pay off your monthly minimum payment as noted on your statement. Pay off your full statement balance each month to avoid paying interest. Alternatively, you can revolve a balance, but you’ll be charged interest.

You’ll get helpful reminders about when a payment is due in your Banking app. For more details go to Menu (3 bars) → Platinum Card → Payments. There you’ll view your monthly minimum payment amount, full statement balance, and payment due date. To review your monthly statement in the app, go to Menu (3 bars) → Documents → Statements.

Failed payments

Payments may fail for various reasons. When a payment fails, you’ll receive an email notification explaining the failure reason. Here are some common failure reasons and how to resolve them:

• Insufficient funds
  • There aren’t enough funds in the account to complete the payment. Either retry the payment once you’ve confirmed the funds are settled, or make a new payment from another account.
• Unable to locate account
  • Some accounts have extra security measures that provide a temporary account number when connecting via Plaid. This can cause a payment to fail as we don’t have the accurate account number to find your account. In these cases, you’ll need to connect your account manually and then retry.

Brokerage and spending-specific failures

• Brokerage and spending accounts are only able to pay the credit account balance with your withdrawable funds. You can’t use margin or unsettled funds, so the available funds shown in the Banking app is the accurate available amount to make a payment.
• We’re reviewing your brokerage account so no funds can be moved out of the account, even to pay the Platinum Card. The account review should be complete within 48 hours and you can then retry making your payment after this time period. If you can’t wait 48 hours, retry your payment with a different account.

Interest

For billing and payments, the Robinhood Platinum Card works like a standard credit card. To avoid being charged interest, you’ll need to pay your full statement balance by your payment due date each month. To find your statement balance and payment due date in the app, go to Menu (3 bars) → Platinum Card → Payments or Menu → Documents → Statements.

If your statement balance isn’t paid by your due date, your Average Daily Balance during your billing cycle will be subject to interest. Your Average Daily Balance is the sum of your daily balances divided by the number of days in your billing cycle. To check your interest calculation, go to Menu (3 bars) → Documents → Statements → Interest Charge Calculation.

Residual interest

Residual interest (also called trailing interest) is the interest that continues to accrue on any unpaid credit card balance after the statement closing date and until the payment posts. Because this interest is generated outside the closed billing period, it doesn’t appear on the statement you just received; instead, it is added to the following cycle’s statement even when the prior statement balance was paid in full. This interest is charged when you go from carrying a balance to paying your statement balance off in full.

Let’s go through an example of how residual interest is calculated. Imagine your June billing cycle closes on June 1 with a $1,000 balance carried over from the prior month. Your annual percentage rate (APR) is 29.99.

1. Convert the APR to a daily rate

• Interest is computed every day, not once a month.
• Daily rate = 29.99 ÷ 365 ≈ 0.0685% per day (expressed as 0.000685 in decimal form).

2. Count the days interest keeps accruing

• You schedule your payment for June 11.
• From June 2–June 11, there are 10 full days during which the $1,000 balance remains outstanding.

3. Calculate the trailing interest

• Daily interest charge = $1,000 × 0.000685 = $0.69 per day (rounded).
• Multiply by 10 days: $0.685 × 10 ≈ $6.85.

4. How it appears on your statements

• The June statement you just paid shows $1,000 but not the $6.85, because that interest accrued after the statement closed.
• When the July statement generates, you will have a separate line item for “interest charges” of $6.85. If you don’t pay that amount by the July due date, it, too, will begin to accrue additional interest and could trigger late-fee or grace-period consequences.

So, even though you paid the entire $1,000 balance listed on the June bill, the ten-day window before your payment posted produced $6.85 in residual interest that surfaces only on the following month’s statement.

Balance transfers

Outgoing balance transfers are only available in limited cases. If you or the financial institution accepting your Platinum Card balance mail a check, make sure you follow the correct steps.

We can’t receive or accept electronic balance transfers. We also don’t accept incoming balance transfers (i.e., at this time you may not transfer any other credit card balance to your Platinum Card).

We can only accept checks sent for your full Platinum Card account balance via USPS (we can’t accept FedEx deliveries) to the address below. Please be sure that your name and the last 4 digits of your account number are written on your physical check.

Robinhood Credit, Inc.

P.O. Box 735687

Chicago, IL 60673-5687

When the team receives a check, they’ll review for eligibility and reach out if we can make a one-time exception. If we can’t accept the check, the check will be shredded and disposed of securely.

Because we only accept checks on a case-by-case basis, this process may take 2+ weeks. If a check is accepted, the payment will be backdated to the date the check was received and any interest accrued during that timeframe will be waived.

Robinhood Platinum Card and Robinhood Gold Card are offered by Robinhood Credit, Inc. (“RCT”), and are issued by Coastal Community Bank, pursuant to a license from Visa U.S.A. Inc. RCT is a financial technology company, not a bank.