Robinhood just unveiled a $695 “platinum-plated” credit card aimed at premium spenders, but the headline benefit is the metal, not the earning. Outside of portal rebates and limited categories, it’s just 1% back, and the real value is locked behind a long list of monthly credits with restrictions, minimums, and timing rules. In other words: it’s an expensive coupon book that only works if you want to manage it like one.