After teasing a new rewards credit card earlier this year, details about the Fanatics American Express Card have been revealed.
About the Fanatics American Express Card:
Today, Fanatics shares a closer look at its new rewards credit card. The Fanatics American Express Card is a first-of-its-kind product that will earn FanCash.
One of the most unique elements of this card is that customers will be able to choose from more than 500 card designs. Options include athletes from across the NBA, NFL, UFC, and WWE, with designs inspired by Topps trading cards. Fanatics also says that more leagues and players will join the roster in time.
As for rewards, the card will earn 5% FanCash on purchases made within the Fanatics ecosystem. This not only includes Fanatics.com but also Mitchell & Ness, Lids, Fanatics Collect, Fanatics Live, Topps.com, and more. Additionally, the card will earn 8% or more in FanCash for purchases made using the Fanatics App. Elsewhere, cardholders can earn 5% FanCash on ticket purchases, 5% on select streaming service purchases, and 2% on everything else.
Fanatics cardholders will also enjoy some exclusive perks. For example, cardmembers will have early floor access and additional perks at Fanatics Fest — including a cardmember gift.
At launch, the Fanatics American Express Card will also offer a welcome bonus. New cardholders can earn $100 in bonus FanCash after spending $1,000 on the card within the first 90 days. Plus, those who spend at least $500 per month on the card for 12 consecutive months can earn an extra $100 FanCash bonus,
Those interested in the Fanatics American Express Card can now join the waitlist. Invitations to apply are expected to go out starting later this year. The card will not have an annual fee.
While this new card operates on the American Express Network, its issued by First Electronic Bank and powered by Imprint.
About Fanatics-Membership Rewards Transfers:
In addition to unveiling the new Fanatics card, American Express has rolled out its point transfer partnership with the retailer. Now, cardholders with Membership Rewards-earning cards can transfer points to Fanatics, with 1,000 MR points converting to 10 FanCash. That amounts to a value of 1¢ per point. For context, cardholders can redeem points for a statement credit at a rate of 0.6¢ per point (while those with an Amex Rewards Checking account can redeem points toward a deposit at a value of 0.8¢ each).
What They’re Saying:
Announcing the new card, Fanatics Financial Services President Greg Lisiewski stated, “Sports fans are not ordinary consumers, and this is not just another credit card. We built this credit card alongside American Express and Imprint to be the true badge of fandom and to reward fans in more ways than ever before.”
Lisiewski continued, “This card unleashes the power of the Fanatics platform — from the gear fans wear to the tickets they buy or the collectibles they seek out — and creates yet another touchpoint to reward our fans through a robust payments solution that has not been seen in this space.”
My Thoughts:
As far as retailer credit cards go, this Fanatics card isn’t terrible. For one, I like that it earns a base of 2% back on everything while also boasting some 5% (or apparently 8%+ categories). The other benefits, such as Fanatics Fest perks, could also be of interest to certain cardholders. I also need to give Fanatics props for the level of customization they’re offering, allowing customers to choose from literally hundreds of card designs. In my view, that’s a nice touch that is sure to go a long way toward gaining new cardholders. That said, I’m not exactly the market for this card, so I don’t plan on applying.
Lastly, while the 1¢ per point FanCash transfer option isn’t terrible, now that I have the Schwab Platinum Card, which offers 1.1¢ per point in value when redeeming for Schwab deposits, I don’t have a use for this feature. But, for those looking to buy something on Fanatics for a loved one this holiday season, this transfer opportunity may not be a bad option.
