The major credit card companies and have been attracting new users by providing attractive reward structures and initial sign up bonuses for decades. Traditionally, these bonuses have included either cashback or travel reward perks and have been marketed to older professionals with stable paychecks.
While these types of credit card offers are still popular with consumers, a new and growing credit card reward program is going after a different customer base by providing a unique set of benefits.
The newest credit card program that is gaining popularity in the New York City area is Magnises. This credit card program is different from other credit card program offers because it does not offer the typical cashback or travel reward offers.
Instead, it focuses on providing its users with social opportunities. Members who signed up for the credit card program will be able to go to dozens of different parties and social gatherings each year, which are exclusive to the credit card owners.
Those who sign up for the credit card program and take advantage of the benefits that come with it have stated that it is well worth the $400 annual membership fee. Because most of the benefits of the credit card program are social, it attracts a much younger user base. The company typically markets towards young professionals that are under 30 years of age.
Magnises was initially started just a few years ago by a young entrepreneur named McFarland. He was able to develop the idea and start the company while he was just a college student at Bucknell University. According to Crunchbase, While McFarland started the company at a very young age, the company is already looking to expand into other markets and surpass 10,000 active users.