Robinhood is now offering an uncapped 3% cash back card. Has anyone here gotten this card yet? This is the highest all-category card that I am aware of. I’m not familiar with the issuing bank (Coastal Community Bank), does anyone here have any past experience with them? I’m wondering how tolerant they will be of manufactured spending type activities.
Also, it is rumored that you will be able to deposit the cash back directly into a Roth IRA (coded as a bonus). This gives an additional tax benefit on top of the 3%.
Well now you have. I read about it on the 4chan finance board from some guy claiming that he works for robinhood. He explained that they are trying to poach people from Schwab and Schwabb allows Amex users to deposit the credit card rewards directly into a roth ira with no limit. I googled it and found that Schwab does indeed do this.
Wish I phrased it better, but your adept answer handled it. I wondered if they truly did not allow you to contribute your bonus points to your IRA. The link that “I think” you referenced is for a Schwab Amex card, and how it relates to Roth IRAs.
I now wonder what they would do with your bonus if you did not have a cash account or Roth IRA…
I tried paying with PayUSATax, the message was “Declined: Unsupported transaction - $XXXX - US Treasury Tax Payment). Loan and tax payments aren’t supported and can’t be paid with your credit card.”
