Via Colloquey, news that Amex has launched a rewards card aimed at New York City.
- AmEx this week launched the IN:NYC Card, a fee free credit card targeted at Gotham’s young, urban sophisticates who want to eat at the trendy restaurants, receive special invites to parties with the glitterati and attend special musical events.
The IN:NYC Card gives cardholders access to a loyalty program, INSIDE Rewards, which Amex claims is built exclusively for New Yorkers who want to eat, drink and play at many of the most fashionable spots in town.
I haven’t seen the award chart yet, so I’ll withhold judgment on the value proposition, but it’s certainly a fascinating marketing move to target rewards to a demographic group based on their geography.
The rewards seem of potential interest to twenty and thirty-something New Yorkers:
- INSIDE Rewards points can be redeemed for certificates at more than 70 New York City establishments, including restaurants such as TAO; lounges like the legendary Lotus; and arts and entertainment venues and events through partners such as Gen Art.
- One-of-a-kind experiential rewards with select partners including an hour-long spin as guest DJ at a New York City lounge.
- Access to exclusive tasting menus not available to the general public.
- VIP access to concert venues such as Irving Plaza.
- Advance tickets to other select entertainment events around the city.
- Weekly savings with a variety of retail and spa partners.
INSIDE Rewards offers the following additional perks:
My own hunch is that this won’t provide the same kind of value that traditional airline and hotel cards do — but the unique mix of benefits will appeal to some New Yorkers.
Most importantly, it reveals a trend that I expect to see repeated in San Franciso and Los Angeles.