Billy McFarland is the founder and CEO of Magnises. He founded the card in August 2013 and officially released it to the public in March 2014. The aim of the card was to come up with a black card which was going to be exclusive. It meant that there were perks and offers based on the black card technology. The card doesn’t function like a real credit card. However, it can be used to replace a credit card. One has to pay an annual fee of $250 to start using the card. By the year 2015, the Magnises card was able to raise close to $3 million as its venture capital. The card has increased its membership and is currently made of more than 10,000 members.
There are few facts about the Magnises Black Card. One feature of the card is that it works as a payment tool. The card is not a real credit card but can function as a debit card. The card is swiped with one’s original card and gets the information. One can then use the card for general payment purposes. Using it this way gives one a chance to get discounts at clubs, hotels, and bars.
Billy McFarland was only twenty-three years old when he started the black card. However, he has gained the attention of millennials across different ages. He has created the Magnises card as a stylish means for payment. Once you link the card to make payments and purchases, you will receive several perks and offers. The card has the advantage of coming up with a stylish penthouse. The penthouse has shown that the Magnises card is less about the perks and more about improving the community. Through the penthouse, members can hold meetings or come together to have fun.
The card has many deals and offers. Since it was introduced, it has made the lives of young professionals fun and favorable.
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