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Fanatics to Launch Rewards Credit Card with American Express
American Express and Fanatics have announced a partnership that will not only result in a new rewards credit card but will also lead to a new option for other cardholders.
About the Fanatics American Express Card:
This week, Amex revealed that it was teaming up with the sports merchandise site Fanatics. As part of this partnership, the two will create the Fanatics American Express Card.
According to a press release, the new card will earn FanCash to be used on the Fanatics website. That means that rewards can be used toward apparel, event tickets, trading cards, collectibles, and more offered on Fanatics. Cardholders will also enjoy “Fan-First Benefits,” including increased tier status in the Fanatics ONE loyalty program. While the card will operate on the American Express payment network, it will be issued by First Electronic Bank and will be powered by Imprint.
The Fanatics American Express Card is expected to be available later this year. More details about the card will be revealed “in the coming months.”
FanCash Transfer Partnership and More:
In addition to the launch of the new card, existing Amex cardmembers will soon see a unique feature. Fanatics will join the list of Membership Rewards transfer partners, allowing customers to turn their points into FanCash, which can then be used for Fanatics purchases. Details such as transfer rates have yet to be revealed. Other American Express Membership Rewards transfer partners currently include various airlines and hotel brands. However, members can also redeem points directly on sites such as Amazon.
Beyond that, American Express will also become the Official Payments Partner of Fanatics, both online and in retail locations. Additionally, Amex will be a presenting sponsor of the annual Fanatics Fest in New York City.
What They’re Saying:
Discussing the partnership, Fanatics’ Chief Strategy and Growth Officer Tucker Kain said, “We’re constantly looking for new ways to celebrate and support fans for their passions and enhance the everyday fan experience. Partnering with American Express allows us to scale these ambitions in a meaningful way, expanding our payments, loyalty and advertising capabilities, while creating truly differentiated products – including the Fanatics American Express Card – which we believe will become the Card that sports fans reach for.”
My Thoughts:
As someone who’s shopped on Fanatics a few times but wouldn’t call myself a sports superfan, I can all but assure you that the new Fanatics American Express Card won’t be very attractive to me. However, having Fanatics as a transfer partner for Membership Rewards points is much more interesting for a couple of reasons.
For one, assuming that this is truly a transfer partner and not a retail integration like with Amazon, it will set a new precedent. Plus, if the transfer rate is good, I could see myself taking advantage of this offer. On that note, if I had to guess, I would assume the rate will be 1¢ per point — or at least I’d hope so. Anything short of that will be truly disappointing and not worth doing.
So, will Amex and Fantatics hit this partnership out of the park or fumble the ball? We’ll have to wait and see what they serve up (yes, that’s another sports reference) later this year.
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