Magnises, the new black card is set to change the way people see credit card rewards. According to Bloomberg, Billy McFarland, the founder of Magnises card, said that when he was at dinner with his friends, he realized that people do not have any networking or community aspect.
He added by saying that it is for that reason that the Magnises card sets out change the goal. McFarland stated that the card wants to connect people through a credit card that is more relevant to their lives regardless of whether they work in the fashion, technology or finance fields.
Magnises has more than 600 members, yet it was established just the other day. That means it has gained popularity because of its convenience and the benefits its members enjoy. Here are a few facts people ought to know about the card.
- Magnises card is not a credit card. The black card functions by taking whatever credit or debit card a member uses and activates it to the metal Magnises card via the data on the magnetic strip. Essentially, it is a payment tool.
- Its annual fee is $250. Anyone can now apply for the card. The application procedure is not complicated; you just need to submit an online application on their website and a phone interview.
- Magnises card is only for people living in New York City, at least for now. Some cardholders are internationally based. However, the card focused on New York when it was launched. McFarland said that right now they are trying to help New Yorkers get the best out of their lives in New York. Billy McFarland said that they have plans to branch out to other cities shortly.
- The highest percentage of card holders is between 21 and 25 years. However, McFarland noted that the card does not limit the age, income or occupation.
- The card has more than 50 partnerships. The goal of these partners is to enhance the life of each member. The founder added that they plan to hold members-only events like parties, happy hours, educational talks and chef series dinners.