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Did Robinhood Just Say "Checkmate" to American Express?

TheMotleyFool

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Did Robinhood Just Say "Checkmate" to American Express?Photo, wide shot, wide-angle lens, Bank, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/094456a7-d529-4ef2-b536-c031f2afd618.png

The popular online brokerage and banking platform Robinhood (NASDAQ: HOOD) is taking a page out of American Express' (NYSE: AXP) playbook and launching a platinum credit card with a high annual fee that provides numerous perks.

It's Robinhood's latest foray into banking, as the company seeks to capitalize on the momentum it's generated with its huge customer base, which first came to the platform for commission-free trading and investing.