  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.
