According to Forbes, Billy McFarland is the founder of Magnises. Billy McFarland founded it in August 2013 and launched it officially on March 1, 2014. His aim was to come up with a black card that was exclusive. It was meant to offer perks and built on technology-based architecture.
The card is not a real credit card but can be used to replace original debit cards as well as credit cards. It has an annual fee of $250. It doesn’t have an initiation fee. By 2015, Magnises was able to raise $3 million as venture capital. It had over 10,000 members.
Facts about the Magnises Card:
Here are some facts about a Magnises black card:
It is a tool for payment. This card is not a real credit card. It actually activates the debit or credit card that the owner uses, onto the black card. It has been linked to the user’s bank for payment purposes. With it, they can be able to get discounts at bars, hotels, and even clubs.
It has an annual fee of only $250, and anyone can apply for it. The application process is quite easy since all one has to do, is fill out the application form online, and the interview is done on the phone.
Members have a clubhouse. It is located on Greenwich Avenue. It serves as a base for all the members, and they can meet there to hang out, interact and have fun.
Most of the members are aged between 21 -29, though there are interests from are older people who have become members. Magnises does not discriminate against members concerning age, occupation, or income. It’s all about how these members make use of their perks. The value they add to the society and to fellow members is critical.
McFarland’s goal is to improve all the aspects of the members’ life. He precisely wanted to add value to their way of life. Members don’t necessarily need a credit or debit card. A Magnises black card is exactly what they need to make their lives easier and better.