Robinhood Gold Credit Card FAQ
You can view all your credit information on the home tab in the Robinhood Credit Card app. Select info (circled i) to see a detailed breakdown of your current balance, credit limit, credit utilization, pending transaction amount, and available credit.
You can also find your credit limit by going to Menu → Documents → APR and limits.
There were a number of factors used to determine your credit limit when you completed your application for your Robinhood Gold Card. To determine your credit limit, we look at your income, your full credit profile, known assets, and account history. This process is completely automated and we’re unable to manually review or change this proposed limit.
However, your credit limit will be reviewed automatically over time and you may receive an increase in the future.
There are no actions required to request a credit limit increase as we currently only automatically review accounts for credit limit increases.
The way our credit limit increase process works is that your account is reviewed automatically every few months. If you’re eligible for a credit limit increase, you’ll be notified! There’s no hard credit pull completed when your account is reviewed.
Your account will be reviewed for limit increases periodically based on your use of the card and account history. Keep in mind, this process happens automatically, and our support team isn’t able to provide additional details or specific information about what could be done within your individual account in order to receive a credit limit increase. Our support team is also unable to manually review accounts for credit limit increases.
We’re unable to temporarily increase credit limits as accounts are only reviewed automatically and we can’t manually review accounts for credit limit increases.
You’ll only be able to complete purchases that are less than or equal to your available credit at the time of purchase. You can view your available credit by going to your current balance at the top of the home tab in the app and selecting info (i icon). This shows you a breakdown of your current balance, available credit, credit limit, and credit utilization.
You can contact our Credit Card support team directly in the app by going to Menu (3 bars) → Help.
Any time your transactions are declined, you’ll receive a notification (email, text, or push) titled Charge declined containing further information about why the decline occurred and if you can resolve the issue. If the transaction is eligible, the notification will contain detailed information of the steps you can take to resolve the issue and retry the transaction. Some transactions can’t be retried and will continue to decline.
Most transaction declines can be resolved without the assistance of our Credit Card support team. Common transaction decline reasons include:
These types of declines can all easily be resolved by confirming that the account details entered are correct and attempting the transaction again.
You may also see that there’s a hold on your account preventing your transaction from being completed. In that case, the hold needs to be removed in order for you to attempt the transaction again. On the home tab, select info (i icon)→ Learn more to view details about the hold on your account. You would have also received an email notification from our team with more information about the hold when it was first placed.
If your transaction was declined for suspected fraud, you may be able to retry the transaction and get it approved. You’ll receive an email, text, and push notification (if enabled) titled Charge declined. It contains details about what (if anything) you can do to resolve the issue. In some cases we’re able to offer an option for you to authorize the transaction directly in the app following a decline due to suspected fraud. If that’s the case, you’ll see this option presented in your transaction decline notification.
If you can authorize your transaction in the app, select it in your transaction history list on the home tab of the app. Select the option I Authorized this Transaction. Retry the purchase using the same card you used to make the initial transaction shortly after authorization in order for it to be successful—we won’t retry this transaction automatically.
There may be times when your transaction decline notification says it can’t be authorized in the app. This may happen for any number of reasons, including that the transaction may be too unsafe to authorize in app and attempt again. There’s no way to approve these types of suspected fraud transaction declines and the transaction will continue to decline if attempted again. Our support team also can’t override these types of transaction declines or mark the transaction as safe. If our system has determined that the transaction is unsafe, we don’t want to take a risk that could compromise your account’s security.
Note that we do understand that sometimes there will be false positives, but these security measures are in place to prevent fraudulent transactions from occurring and to keep your account safe. Rest assured that our team is always working to improve our fraud prevention measures and reduce these instances of false positives in the future.
If your account is on hold due to suspected fraud, a fraud alert was triggered on your account and action is required to remove it. Most often, fraud alerts will just require our team to review your account to ensure that it’s safe. When the hold is placed, you’ll receive an email notification titled Hold Placed on your Robinhood Account that contains instructions if there are any actions needed on your end to remove the hold.
If there are no actions listed in the email, our team will need to review your account to make sure that everything is safe and there are no fraud risks before you can continue spending. This should take no longer than a few business days and you’ll be notified via email as soon as the hold has been removed. Note that our support team won’t be able to provide any updates about the progress of our investigation for account security reasons.
Account holds not related to potential fraud are likely placed due to recent spending and a payment will be required to remove the hold.
First, review the email that you received titled Hold Placed on your Robinhood Account that contains more information about the exact reason for the hold and what is required to remove it. Common payment-related holds are:
When an account goes overlimit, this means that your current balance is higher than the credit limit that you were given. We have account protection measures in place to decrease the likelihood of an account going overlimit, but sometimes these instances can still occur. If you go over your credit limit, your account will remain on hold until you make a payment and that payment clears. Any payments that you make while you’re considered overlimit won’t be applied to your available credit until they fully clear. Payments can take up to 4 business days to clear and you can monitor the status of your payments by going to Menu (3 bars) → Payments → Payment history. Learn more about how to make a payment.
You’ll also see a notice that your account is overlimit directly underneath your account balance on the home tab of your app. You can view detailed instructions on how to remove the hold if you select Learn More.
An account is considered delinquent if your payment due date passes and a payment for the minimum amount due hasn’t yet been received. If you’re more than 4 days late on a payment, spending will be disabled on your account until the late amount is paid. This updates once the late payment has fully cleared, which can take up to 4 business days. You’ll need to make your minimum payment by your due date every month to avoid delinquency. Note that in addition to interest charges, late payments may incur up to a $29 late payment fee for the first instance and up to $40 for second instance in subsequent 6 months. After 6 months, this will reset and the late payment fee will return to up to $29.
In rare situations, spending activity on an account can trigger a hold if our system flags that your account is overleveraged. When an account is overleveraged, this means that based on a combination of factors our system has determined that if you continue with this type of behavior, your account may become delinquent. These factors may include, but aren’t limited to, transaction frequency, transaction amounts, account age, and credit utilization. To protect your account, we place a hold on spending privileges and payments to reduce your account balance will be required to remove that hold.
If your account is placed on hold for this reason, you’ll receive an email from us titled Hold Placed on your Robinhood Account that contains the details on the payment amount required to remove this hold. Our Credit Card support team can’t remove the hold for you, but are happy to assist in setting up a payment in the app or answering any further questions.
Learn more information about how to make payments.
Virtual cards are credit cards that you can make in addition to your primary Robinhood Gold Card that will only exist virtually or online in your app. They all have unique card numbers but are still associated with your Robinhood Credit Card account. You won’t receive a physical card in the mail when you create virtual cards.
Virtual cards offer many great benefits:
Since you can set transaction and monthly limits on virtual cards, they’re also a great way to budget and track your spending. You can add virtual cards to your mobile wallet to be used for in-person purchases where mobile wallets are accepted.
We offer 3 different types of virtual cards: Free trial, Single use, and Standard virtual cards.
Free trial: Free trial virtual cards are intended to be used for exactly what their name suggests—signing up for free trials! Free trial cards take the stress out of trying new products as you don’t need to remember to cancel your subscription in the future.These cards automatically cancel 24 hours after creation. This ensures that you’re not charged in the future if you sign up for a free trial of a product because most free trials offered require that you agree to be automatically charged after a certain period of time.
Single use: Single use virtual cards are cards that automatically cancel after one transaction is completed with a merchant. Once the card is canceled, all future transaction attempts will be declined. These types of cards are useful when completing online transactions with new merchants that you’re trying out for the first time and are unsure if you fully trust with your card details. As the card is canceled after your intended transaction, you don’t need to worry about the risk of fraud in the future.
Standard: Standard virtual cards are intended for daily use and can be customized as you see fit. These types of cards can be used for individual subscriptions and expense or budget tracking. If you use this type of virtual card for 1 set merchant or subscription per card, canceling the card will effectively allow you to cancel the subscription. You’ll also be given the option to choose from advanced settings that include setting single transaction and monthly spending limits, making the card anonymous, and automatic card cancellation at a future set date and time.
Note that by choosing the anonymous feature, this only changes the name associated with your card to J. Doe and doesn’t completely remove it from being associated with your account. The card will still be related to your billing address. This feature is mainly intended to be used in situations where you don’t want your actual name to be associated with a particular merchant.
To create a virtual card in the Robinhood Credit app, go to the home tab, select Cards → Add a virtual card to create your first virtual card.
You can choose from 3 types of virtual cards:
The main Cards tab shows all of your virtual cards and the amount charged on each card so far. You can view all transactions and also the card number, billing address, if there’s a monthly limit, and the date of auto-cancelation if enabled. You can also rename, edit the monthly limit, add to your mobile wallet and cancel the card.
To view your canceled virtual cards, Go to Cards → select All canceled cards. You can view all of your virtual cards that have been canceled and the amount previously charged to the card by selecting a specific card in this section.
When you initially create a virtual card, depending on the card type and if you enable advanced settings, you may be able to set a cancellation date automatically. If you don’t use this option, you can manually cancel your virtual card at any time.
To cancel a card:
Once confirmed, the details will update to show that the card was canceled and the date the action was taken. When you refresh your app, the card will appear as canceled. The details of your canceled card will only be viewable in All canceled cards.
Refunds on virtual cards will be processed the same as refunds on your primary card, even if the card is canceled. Once the merchant issues a refund, it will appear within your transaction list and be applied to your account balance. This happens automatically and no additional actions are required by you or the merchant issuing the refund.
Note that it can take up to 15 days from the date when the merchant issued the refund for the refund to appear within your app. If you don’t see your refund within this timeframe, contact our Credit Card support team for assistance.