The major credit card companies have historically attracted new users to expensive credit card programs by providing lucrative initial bonuses. These bonuses, and subsequent rewards programs, have focused on providing users with hotel and air travel points, cash back, access to airport lounges, and other perks.
While these cards have been popular with older professionals, a new credit card program has been focusing on providing its service to a different group of clients.
The newest credit card program, Magnises, was introduced just a few years ago. This program does not focus as much on the older professional, but instead is looking to attract a much younger clientele.
The average customer of Magnises is under 30 years of age and many are under 25. The youth of the average consumer of the card is somewhat surprising given the high cost, which is up to $450 per year.
What attracts Magnises’s customers to the card is the unique benefits that it providers. While other cards have focused on providing points and cash back, this credit card program offers users with access to a variety of social and professional networks.
Users of the card are able to attend a variety of social and professional gatherings each year, which are available only to members of the credit card program. Users can also utilize the company’s services, which can help to provide access to the top sports, entertainment, and nightclubs in the city.
Those that are looking to enhance their professional careers will find that Magnises program also has a lot of job benefits. The company organizes dozens of networking events and career enhancement seminars, which are attended by hundreds of experienced professionals each year.
The newest credit card rewards program has been introduced and grown by a young entrepreneur, Billy McFarland. McFarland, who is still under 25 years of age, came up with the concept for Magnises while he was still in college at Bucknell University. Today, McFarland is focusing on the continued growth of Magnises, which could expand into other major cities across the country in the next 12 months.