When it launched in 2004, the Stratus Rewards Visa–the White Card–was poised to be a competitor to the Amex Centurion Black Card. There were many similarities: both featured privileged rewards and benefits, exclusive access to restricted events, and membership by invitation only. The White card even had the upper hand in some cases–the parent company, Stratus Media Group, directly manages many live entertainment and sporting events. But the stir Stratus Visa initially gathered has silenced. (Of course this could be a representation of its success. If Stratus’ membership is truly restricted, then a quiet existence would be appropriate.) But on July 13, Stratus Media Group announced the appointment of a new VP to Stratus Rewards Visa program, indicating this exclusive credit card is very much alive.
This exclusive credit card seeks to meet the needs of an elite consumer audience, and is trying to catch their attention at all the right places, like sponsoring this year’s National Tour d’Elegance, a touring auto show of rare and expensive antique, exotic and modern cars and motorcyles from around the world.
The White Card is truly an invitation-only credit card. According to the Stratus Rewards Web site, membership is only available through an already established relationship with one of its partners, or through a referral or nomination by another member.
If you think you’re Stratus Card app got lost in the mail, or you don’t charge the requisite $250k annually, the American Express Platinum card has many worthwhile perks–and is attainable. Among the benefits are a 24-hour concierge service and complimentary worldwide Airport Club access.
While many credit cards offer points toward purchases or cash back, the White Card provides rewards that stand out from the crowd. Instead of earning frequent flier miles, for example, Stratus Rewards members can earn private jet travel or first class travel upon arrival.
The White Card also boasts opportunities for users to collaborate and combine their reward points toward something more extraordinary. The promises made from the White Card’s first press release were big: Redeem rewards for a trip on a private jet, and end the trip with a private tour of, say, the Louvre, or maybe the Pyramids of Egypt. Though the focus of the rewards appears to be on travel and travel-related perks, members can also take advantage of popular, hard-to-locate items, as well as personalized and unique services.
Upscale, high-end rewards, the status of an invitation-only credit card, and the type of market that only the National Tour d’Elegance can hope to reach–the White Card may be the next big status symbol for the wealthy business class in America today.
Kelly Herdrich and CCCG staff
Interesting investment opp to position against the Black Card, a seemingly untouchable monoplpoly in a small niche market. I definitely think the Black card is ready to have some market share stolen away. SMDI should definitely benefit from their strategic placement in the exclusive credit card market. As they learn and better cater the rewards their market, it will be easy to expand the membership of this card. I’m looking into buying some SMDI in the next few weeks.
Comment by paul — July 19, 2010 @ 7:31 pm