Billy McFarland is an entrepreneur that believes in making things happen. I can appreciate that about him. As a young man that was fresh out of college Billy wanted to have access to a black card, but he quickly realized that many millennials like himself would not have the ability to get a traditional black card because they had not established themselves. Most people probably would have just taken this as the lost that it was. Billy McFarland, by contrast, has created his own club, Magnises, and this gives millennials the chance to obtain a black card.
I think that this is amazing when one considers the fact that Billy is not even 30 years old yet. This shows leadership and innovation. He has already done something amazing with this company, but I expect him to do even greater things.
This is early work where he joined forces with previous executives that have worked with MasterCard and American Express. He has gotten the right people in place to help him do what he needed to do.
The Magnises club focuses on exclusive perks. There are people that are going to want to sign up for this club because they get the chance to get into late night parties or obtain discounts on products. I think that Billy McFarland has done a great job of getting people perks that people will benefit from with the Magnises card.
There are so many people that are getting cards because they hear about travel miles or reward programs. They may get the cards, but then they realize that they do not have the ability to use any of the features. This is the downside to getting many credit cards.
Billy McFarland created Magnises, and this company has a membership fee of $250 annually. Billy McFarland knew that he needed to create a card that would be beneficial to people if he was planning to charge this much for using this card. When he originally started the company it was invitation only. The demand grew in a great way and prompted McFarland to give more people access.