AMC Entertainment Announces Co-Branded Credit Card Offering
During the pandemic, the struggling AMC Theatres got a boost when the company became a hit “meme stock” alongside the likes of GameStop. Since then, the theatre chain has embraced this side of its business, including offering perks to shareholders. Now, the company is prepping for another way to build upon this loyalty, announcing the impending debut of the AMC Entertainment Visa Card. According to AMC, it’s set to be the only co-branded movie theatre credit card in the United States upon launch.
While all the card won’t launch until next year and some details have yet to be fully revealed, it’s been disclosed that the AMC Entertainment Visa Card will earn AMC Stubs points on purchases made anywhere Visa is accepted. Furthermore, the card will feature “accelerated earning on dining, groceries, and gas” as well as AMC Theatre purchases. Stubs customers will then be able to redeem their rewards for concession items or AMC Dine-In & Feature Fare menu items, while AMC Stubs A-List and Premiere members use their rewards toward free or discounted movie tickets. On that note, customers must be AMC Stubs members in order to apply for the card.
Currently, those interested in the card can join a waitlist for the product. When it does debut, the AMC Entertainment Visa will also include a welcome bonus. New cardholders who spend at least $50 on the card during their first three months will earn an extra $50 in AMC Stubs Bonus Bucks. However, this reward must be redeemed within 90 days of receiving it.
Powering the AMC Entertainment Visa Card is the FinTech Deserve. Previous Deserve card partnerships include offerings from M1 Finance, KrowdFi, and others. Utah-based Celtic Bank will issue the card.
Commenting on the upcoming card, AMC Chairman and CEO Adam Aron stated, “The AMC Entertainment Visa Card is another example of AMC’s continued dedication to providing real value to moviegoers and strengthening the relationship we have with our loyal moviegoing guests. Until now, the theatrical exhibition industry is one of the few untapped major retail sectors that hasn’t offered consumers the opportunity to amplify their purchase power, accelerate their rewards, and demonstrate their loyalty through the use of a co-branded credit card.”
Aron added, “With a built-in customer base of tens of millions of existing AMC Stubs members, we know there are avid moviegoers who will benefit greatly from using their AMC Entertainment Visa Card at the movies and for their everyday purchases.”
Although it is interesting to see a brand like AMC launching a co-branded credit card, chances are the finished product likely won’t make sense for most consumers. Although the inclusion of “everyday” spending categories, such as dining, groceries, and gas could make the card seem more practical, it seems as though these earned rewards will only be redeemable at AMC Theatres. Thus, it’s likely that a more flexible cash-back option would be a better fit for most. Still, those who are big fans of AMC and don’t mind using their rewards for visits to the cinema may find value in the AMC Entertainment Visa when it launches next year.