3 ms·

Might be some companies really wanting to know what high rollers on Robinhood are buying. Could be a bit of both.

• GuiA 8y ago
  This seems very likely. Robin Hood users seem to tend towards young and educated, so I imagine the transaction data would be a goldmine.
  • spyspy 8y ago
    Is it? I'd expect anyone educated enough to actively trade with robinhood is not using a debit card for ordinary spending.
    • GuiA 8y ago
      This is purely anecdotal from e.g. the finance subreddits/websites I read, but Robin Hood seems to be the first trading experience for a lot of its users (likely because the mobile experience is so seamless compared to something like ETrade). I meant educated as in "holds a higher education degree", not necessarily in the way of trading.
    • brewdad 8y ago
      True. I use a credit card for almost every purchase I make in order to rack up the rewards points/dollars. My debit card only gets used at the ATM for times I need cash. In the past year, I think I've used my debit card for one purchase at a local small business where my purchase amount was under $10 but I didn't have any cash on me. I wanted to ensure the business didn't lose money after the swipe fees, so I used my debit card and PIN.
    • dragonwriter 8y ago
      > I'd expect anyone educated enough to actively trade with robinhood You don't have to be educated to actively trade, with RH or otherwise. You just need cash and confidence. (Note, I'm not saying that is enough to be successful or make active trading worthwhile, but the customer pool isn't limited to people who should be actively trading.)