Billy McFarland is the founder of Magnises card. Magnises was founded in August 2013 and was officially launched on March 1, 2014. His aim was to come up with a black card that was exclusive and could offer perks.
It is not a real credit card since it lacks connection to financial institutions. It can be used to replace original debit cards as well as credit cards.
It has an annual fee of $250, but it doesn’t have an initiation fee. By 2015, Magnises was able to raise $3 million as venture capital and had over 10,000 members.
Facts about Magnises Card
Here are several facts about Magnises black card:
It is a tool for payment. This card is not a real credit card, but it actually activates the debit or credit card that the owner uses. It has been linked to the user’s bank for payment purposes. With it, you can be able to get discounts at bars, hotels, and even clubs.
It has an annual fee of only $250. Anyone can apply for it, and the application process is quite easy since all one has to do is fill out the application form online. Then the interview is done over the phone, and one doesn’t have to visit their headquarters.
The members of Magnises:
The users of the Magnises card have a clubhouse that is located on Greenwich Avenue. It serves as a base for all the members, and they normally meet there to hang out, interact and have fun.
The users are mostly aged between 21 -29, although there are still older people who use the Magnises black card since it does not discriminate against members.
The age, occupation or income of the users does not matter. It’s all about how these members make use of their perks. The value they add to the society and fellow members is also critical.
Accoridng to Dujour, Billy McFarland’s goal is to improve all the aspects of the members’ life, and he precisely wants to add value to their way of life. Members don’t necessarily need a credit or debit card since a Magnises black card will serve as both!