Billy McFarland Grows Magnises
High-end credit card programs used to attract consumers with deeper pocket books is nothing new. While many of these credit cards used to target seasoned professionals with big salaries, a new credit card provider is actually targeting a much younger consumer base.
The new credit card program, Magnises, targets professionals that are between 21 and 35 years of age. The credit card program has some income and credit score requirements, but they are not as strict as other credit card programs. While most credit card programs work by offering access to airport lounges or high levels of cash back, these programs Magnises offers other benefits to its users.
The primary benefit that Magnises offers to its users is social interaction. Those that sign up for the credit card program will have the ability to take advantage of dozens of social activities over the course of any given year.
Those that have the card will also be able to hang out at the Magnises corporate headquarters, which is a townhouse in Manhattan, late into the night. The company often hosts late-night parties that include free alcohol and food. The company also is busy on social mediate, which allows users to connect through Facebook, Snap Chat, and other social networks.
While the annual fee for the card can seem expensive at $250, the benefits of the car are considered to easily outweigh the cost. In many cases, the amount of free alcohol that one can receive can exceed the annual membership fee alone. The company was started just a few years ago, but already has attracted over 10,000 users.
The Magnises credit card program was started by young professional Billy McFarland, who today is just 25 years old. He previously was a student at Bucknell University where he was able develop the idea for his credit card program. While the card is very popular in the New York City area, Billy McFarland is looking for ways to expand its presence in other cities across the country.