Payments
We currently only accept payments made through the app through a connected bank account. When you download the Robinhood Credit Card app, you’ll be able to automatically link all accounts associated with your Robinhood account. This includes your spending or individual investing accounts as well. You can also choose to set up autopay or connect a bank account.
To make a payment:
It may take up to 5 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 → 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 is done fully processing on ours. If you’re still seeing a payment appear as In Progress after 5 business days, contact our Credit Card support team within the Credit Card app.
To schedule a payment to be made at 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) → Payments → Make a payment. 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.
You can set up autopay to make payments with the following options:
Note that the weekly and biweekly payment options are initiated on Fridays. Monthly payments will be initiated shortly after your statement is generated.
You can set up autopay in the app by going to Menu (3 bars) → Payments → Autopay. You can also change your preferences by selecting Edit.
Each month you’re obligated to 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 Credit Card app. For more details go to Menu (3 bars) → 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.
For billing and payments, the Robinhood Credit 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) → 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 see your interest calculation, go to Menu (3 bars) → Documents → Statements → Interest Charge Calculation.
Cash advance transactions will be subject to an additional interest charge and fee. All cash advance transactions begin accruing interest on the date of the transaction. Your most recent statement will show your balance subject to cash advance interest as well as your cash advance interest rate. In addition, these transactions will also be charged a cash advance fee of $10 if the transaction is $200 or less, or 5% of the amount if the transaction is above $200.
Yes, you can cancel scheduled payments as long as they haven’t started processing yet. If available, you’ll see the option to cancel your payment by going to Menu (3 bars) → Payments and selecting the payment you’d like to cancel.
Keep in mind, you can’t cancel payments that have already started processing.
When you first download the Robinhood Credit Card app, you’ll be prompted to connect a bank account to use for payments. You can do this at any time by going to Menu (3 bars) → Payment accounts → Connect new account.
If you’ve already connected bank accounts in your Robinhood app, you’ll be able to automatically connect those accounts in the Robinhood Credit Card app. You can also choose to connect these accounts when you make a payment in Menu (3 bars) → Payments if you haven’t connected any other accounts yet.
You’ll have the option to connect your bank account either via Plaid or manually.
You can add as many personal checking and savings bank accounts as you’d like. When you schedule a payment, you’ll be given the option to choose which bank account you’d like to make the payment from if you have multiple bank accounts connected.
Yes! When you first download the Robinhood Credit Card app or make a payment, you’ll have the option to automatically connect both your Robinhood spending and investing accounts as payment methods. These payments will be treated like any other ACH payment, which takes up to 5 business days to clear.
Yes, there are fees if your payment fails or if it’s late. If you have a failed or late payment, we’ll charge a fee of no more than $29 for the first instance and $40 for the second and following instances if they occur within the next 6 months. After the 6-month period, the fee will reset to the original fee of no more than $29.
Each payment will only be charged either a late payment fee or failed payment fee. You won’t be charged both fees on the same payment.
If your payment has failed, you’ll receive an email with the reason why the payment failed. Note that we receive these failure reasons directly from your bank and you’ll need to reach out to your bank if you have further questions regarding why the payment failed. We won’t retry the payment for you and you’ll need to submit another payment within the app.
No, we currently don’t accept balance transfers. This is a feature that we may offer in the future and you’ll be notified if and when it’s available.
Currently, we only accept payments made in the app from a connected bank account.