TLDR
- Amex Membership Rewards points can now convert to Fanatics FanCash at 1,000 points for $10.
- Fanatics is the first sports transfer partner in the Amex rewards program.
- The new Fanatics American Express Card earns up to 8% FanCash with no annual fee.
- FanCash can be used for apparel, collectibles, tickets and sports bets.
- Cardholders can win up to $100,000 in yearly card spending by picking league champions.
American Express card members can now turn their Membership Rewards points into Fanatics FanCash, a loyalty currency that can be used for sports bets. The move makes Fanatics the first sports transfer partner in the Amex rewards program.
Points convert at a rate of 1,000 points for $10 in FanCash, according to a press release. The currency works across Fanatics’ apparel, collectibles and gaming businesses.
Holders of various Amex cards that earn Membership Rewards points will be able to move those points into FanCash. This option is separate from a new card the two companies also announced.
The transfer deal came alongside the Fanatics American Express Card. Fanatics announced the card on November 9, and U.S. consumers can now join a waitlist to apply.
Fanatics said the card earns FanCash on both fandom purchases and everyday spending. Those rewards can then be redeemed across the company’s platform.
How FanCash Can Be Used
FanCash can be redeemed for authentic apparel, trading cards, collectibles and tickets. It can also be used for access to events like Fanatics Fest.
The currency is also tied to Fanatics’ sportsbook and iGaming platforms. That means FanCash earned through the card or moved over from Amex points can go toward sports bets.
The betting link was not a main focus of the announcement. Still, Fanatics rolled out FanCash several years ago, and it has become one of the sturdier loyalty programs in the sports betting industry.
Fanatics runs one of the fastest-growing sportsbooks in the U.S. Its betting business sits next to its retail and collectibles units.
Card Rewards and Perks
The new card earns 5% FanCash on purchases across Fanatics’ consumer platforms. That rises to 8% when purchases are made through the Fanatics app.
Cardholders also earn 5% FanCash on sports event tickets and streaming services. All other purchases earn 2% FanCash.
New users can receive $100 in FanCash after spending $1,000 in the first 90 days. Another $100 in FanCash is available for those who spend $500 a month for 12 months in a row.
The card has no annual fee. Holders also get presale access to select Topps releases.
Fanatics bought Topps Sports & Entertainment for $500 million nearly five years ago. That deal gave the company a leading position in trading cards, which the new card draws on.
Approved users can personalize their card with one of more than 500 athletes. The list includes stars from the NBA, NFL, UFC and WWE.
Fanatics said more athletes and leagues will be added later. The company did not give a timeline.
The card also includes a prediction game. Cardholders who correctly pick the champions of the MLB, NBA, NFL and NHL can win up to $100,000 in yearly card spending.
