Over the past decade, more and more credit card companies and providers have been trying to lure new customers by providing airline miles, cash back, and other rewards. While these credit card programs have been popular, a new credit card program developed by a recent college graduate is becoming increasingly popular.
According to Business Insider, A young entrepreneur named Billy McFarland developed the new credit card program a few years ago. The credit card program, Magnises, is much different than other credit card programs in that it focuses on marketing to younger professionals.
While the credit card program focuses on anyone under the age of 35, the majority of its clients are young professionals still in there 20s.
One of the main differences between Magnises and other credit card programs is that it doesn’t focus on attracting customer through cash rewards or other financial benefits. Instead, it focuses on providing customers with access to social networks.
Those that end up signing up for the program will be able to take advantage of the Magnises social network, which includes an online network and community, but also hosts many free parties and networking events every year.
The founder of Magnises, Billy McFarland, is a recent graduate of Bucknell University. He came up with the idea for the program while he was still in school and started marketing it while finishing his education.
The program today is continuing to attract new members and could have over 10,000 in the next year. Future growth is expected to be high as the company will look to expand into more and more cities.