Credit cards become our personal identity badges. The credit card company, as well as the graphics on the card, have meaning to almost everyone. The king of the hill in the credit card industry is American Express. American Express has different colored cards, and they all stand for something. A Black American Express card is a badge of honor. But there’s a new black credit card on the scene, and thousands of Millennials has one in a wallet or purse. The new Black card is the Magnises membership card.
If Magnises doesn’t ring a bell, you’re probably older than thirty-five. Magnises is a social club, and it has been putting a smile on the faces of Millennials in New York and Washington, D.C. for the last two years. Magnises is the brainchild of tech wizard, Billy McFarland.
Billy McFarland is a New Yorker by way of Short Hills, New Jersey. Billy is only 24-years-old, but this is his third startup. He formed his first company when he was 13, and his second company, Spling, when he turned 20. Spling is a successful online ad platform, so McFarland got his feet wet in the online marketing game early in life. The idea to start a social platform based around a credit-card looking membership card came to him one night after having dinner with friends. They talked about their credit cards and how much better they would be if they could be used in more personal ways.
Billy took that idea and expanded it to include thoughts like a community-based card that offered perks and special treatment. Billy wanted the card to enhance everyday experiences. McFarland decided to rent a West Village townhouse and open it seven days a week from midday to 9 at night.
Billy’s rented townhouse was the epicenter of Magnises experience in the first year. Billy had elaborate dinners, art shows, cocktail parties, and lectures at that location. But members can also stop by anytime just to hang out.
There are other perks that go with the $250 membership fee, and those perks have attracted more than 12,000 members in just two years. Billy plans to expand the Magnises concept to London, Atlanta, LA, Boston, and Chicago because of the demand.