Robinhood's new credit card, which requires a Robinhood Gold membership ($6.99/month or $75/year), initially looked pretty sweet with its unlimited 3x points on all purchases (and 5x through their travel portal). But hold your horses, folks, because some important changes have been made. Word on the street is that you can no longer earn rewards on bill-pay transactions like rent or taxes. Plus, some users are reporting getting flagged for using the card on gift cards or purchases that look like business transactions.

Why should you care? Well, if you were planning on racking up points by paying your rent or stocking up on gift cards, those strategies are now off the table. You'll need to spend $6,999 on the card to offset the cost of the monthly fee, even without these restrictions, so factor that into your calculations. While the card offers no foreign transaction fees, points worth 1 cent each, and the Robinhood Gold membership comes with other perks like a 3% IRA match, you really need to analyze your spending habits to see if it's actually worth it. The gold card reward for referring 10 people sounds cool, but might be difficult to achieve.