Billy McFarland was barely out of college when an idea struck him. He looked at the world of credit cards and the various perks that come with them and realized this: they don’t really offer anything of REAL strategic value to millennials. Sure racking up points is nice and who doesn’t like getting cash back on purchase? However, McFarland wanted to take things a step further and that’s what brought him to establish the Magnises Black Card. What is the Magnises Black Card? Well, let’s dig into it.
First off, McFarland wanted to create something that he could market directly to people his age who had similar career aspirations. In short, McFarland wanted to create a tool that could help progress the careers of the user. Magnises isn’t just a credit card. In fact, the Magnises Black Card isn’t a credit card at all.
You can link your credit card or other banking account to Magnises and use the card for purchases in that way. What you get from Magnises is so much more than just financial: you get membership to an exclusive club. Magnises has over 20,000 members worldwide and most of them share some form of commonality: be it youth, career aspirations, or even places of business.
What makes the Black Card special? Well, Magnises has connected with many of the top premium companies around in order to offer specific benefits to their members. Magnises members will be treated to discounts from some of the high end luxury companies that people love to shop it.
Magnises has also acquired sponsors via this route and that is how McFarland is able to throw so many ‘Magnises Members Only‘ events. These events can include private concerts, private parties, entrance to high end clubs, or even trade shows where businesses can hire other Magnises individuals.
According to Business Insider, Billy McFarland knows that Magnises needs to separate itself from the pack of tech based start ups. That is why his company has been so steadily growing, advancing out of just the New York market in order to become more than a regional player in the United States.