When you get your new black card from Magnises it will have a credit line of $0, until you link it with your bank or another card, but that’s not the real value of the Magnises card. Ask anyone who is lucky enough to have one, the real value is the prestige, that comes with having one. The Magnises card, created by entrepreneur Billy McFarland, is all about the perks. The website boasts a 24/7 concierge service that can arrange concert tickets, get reservations at the trendiest restaurants, and send you to the front of the line at clubs. It also promises to arrange you a ride in a BMW 7L with driver, a decided step up from Uber. Hop over.
Based on businessinsider.com, all this luxury doesn’t come cheap, annual dues are $250 with Selects priced at $300, and even that won’t guarantee you the black metal card. Members need to be referred by someone on the inside, then vetted by a process resembling joining a fraternity. All prospective members are invited to the Wooster Street penthouse, where they can socialize with established members, making friends or not. The vetting lasts a couple of days, after which, you are excepted into the group or rejected. The final result riding more on how cool the group perceives you are. Check this out.
Indeed, owning the Magnises black card is your ticket into the equivalent of the cool kids table. But to millennials it is the perception of wealth that matters. It’s easier to network when you give the illusion of success. If it isn’t the golden ticket to the big time, it is at least a small taste of it.