Robinhood Markets Inc on Wednesday launched a new credit card aimed at high-income customers, its latest move to diversify beyond trading. The company will charge $695 annually for the Platinum card, which will be issued through Visa Inc. The card features 99.9% pure platinum plating and offers enhanced dining and travel benefits. It's invite-only, though users can request access via Robinhood's website.

This follows the company's 2024 Gold card launch, with the Platinum card offering up to five times the credit limits of its predecessor. The card debuted at Robinhood's 'Take Flight' event alongside new trading accounts and tax insights platforms.