TechCrunch Minute: Robinhood's credit card is here to take on Apple and any upcoming challengers | Tech Crunch

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Robinhood's new credit card was revealed Tuesday, and while it's only available to Robinhood Gold members, the Gold card has a headline-grabbing feature: the ability to invest cash-back bonuses in investments.

The announcement comes eight months after the startup bought X1 for $95 million, and one of X1's biggest features is the ability to invest cash-back benefits. Coincidence? Absolutely not! Other perks, including the Robinhood bonus and the ability to add family members as cardholders, even if they're minors or don't have a Social Security number, are hoped to be enough to sway customers away from Apple's pull.

But what does tech companies get out of getting into the consumer credit game? You could argue that Robinhood's choice to offer a card is just an extension of its already expanding portfolio of financial products. But Apple also has a card, Recall. And the tech giant is delving deeper into the personal finance space as time goes on.

Tech companies expanding their product over time isn't new — hell, I wrote about it back in 2014 — but it's notable to see how everyday consumer finance is becoming a tech story. Hit the clip, let's chat!



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