Motivated by the recent measurement of $D^0\to\rho^0\gamma$ improved standard model (SM) predictions for branching ratios and CP asymmetries of radiative charm decay are given.
Weak annihilation induced decays are probes of non-perturbative QCD approaches.
Rare decays probe the SM and physics beyond the SM, e.g.~leptoquark and supersymmetric models.
Opportunities with $\Lambda_c\to p\gamma$ for future polarization measurements are presented.