March 26 (Reuters) - Online trading app Robinhood

Markets ( HOOD ) launched a new credit card on Tuesday, in an

effort to expand its foothold in the personal finance market and

boost subscriptions to its premium tier.

The credit card, available exclusively to Robinhood Gold

customers, comes two years after its launch of a debit card to

allow spare change investing, with the Menlo Park,

California-based company looking to broaden its product

offerings.

Robinhood bought Max Levchin-backed fintech startup X1 Inc

for about $95 million last year, riding on the popularity of

fintech firms due to the growth of digital banking, in its

attempt to become a one-stop shop for financial services.

Expanding beyond its mainstay trading business could also

help shield Robinhood against bouts of market turbulence, such

as when a string of interest rate hikes by the U.S. Federal

Reserve in 2022 spooked retail investors.

The Robinhood Gold Card would have no annual fee, no foreign

transaction fees and offers 3% cash back, in the form of reward

points, on spends. Bookings made via Robinhood's travel portal

would fetch 5% cash back, the company said.

Reservations for a spot on the waitlist for the card started

on Tuesday. The company expects to roll out the product broadly

later this year.

In its latest quarter, Robinhood posted a surprise profit

driven by higher interest income and a rebound in trading.

Shares in the fintech have surged roughly 50% so far this year.