Fanatics is partnering with American Express on a namesake credit card that generates FanCash — the company’s “loyalty currency” that’s redeemable for apparel, collectibles and sports wagers.
The sports apparel and gaming giant today unveiled the Fanatics American Express Card, for which prospective domestic cardholders can join the waitlist. Nearly five years ago, Fanatics announced its $500 million acquisition of Topps Sports & Entertainment and the company is leveraging its dominant perch in the world of trading cards with the new Amex card. Cardholders can “personalize” their Amex card (if approved) with one of more than 500 NBA, NFL, UFC and WWE athletes.
“The credit card earns FanCash — Fanatics’ loyalty currency — on fandom purchases and everyday spending, which can be redeemed across the Fanatics platform for authentic apparel, trading cards, collectibles, tickets, access to events like Fanatics Fest and more,” according to a statement.
Fanatics said more athletes and leagues will be added to the stable down the road.
Card FanCash Details
Fanatics rolled out FanCash several years ago and in that time, it’s become one of the sports wagering industry’s sturdier loyalty programs. However, FanCash’s ties to Fanatics’ iGaming and sports betting platforms isn’t a focal point of the Amex news.
Still, the card could prove useful for frequent Fanatics shoppers and bettors because it offers 5% FanCash on purchases made on the company’s various consumer-facing platforms and 8% FanCash when those purchases are made on the Fanatics app. Users also earn 5% FanCash on tickets to sports events and streaming services and 2% on all other purchases. There are some other perks.
Cardholders will “receive $100 FanCash after spending $1,000 in the first 90 days and an additional $100 FanCash for spending $500 a month for 12 consecutive months,” according to the press release.
There’s a predictive/gaming element as cardholders will have an opportunity to correctly select the MLB, NBA, NFL, and NHL champions for a shot at claiming up to $100,000 in yearly card spending. Users of the Fanatics American Express Card, which doesn’t have an annual fee, also gain presale access to “select” Topps releases.
Fanatics Joining Amex Membership Rewards
Fanatics’ relationship with American Express doesn’t end with the branded credit card. Fanatics, which operates one of the fastest-growing U.S. sportsbooks, is also joining the Amex Membership Rewards platform, meaning holders of various Amex cards can redeem those points into FanCash.
Those redemptions can occur “at a rate of 1,000 points for $10 in FanCash. This establishes Fanatics as the program’s first sports transfer partner,” according to the press release.
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