Have you seen ads for FoundersCard and are wondering about the offering and its benefits?
Well in this video, we’re going to be taking a closer look at the card, including what’s
been available to me during a free trial.
Hey everyone this is Kyle from Money@30 and on this channel we look at personal finance
from a millennial perspective including premium card reviews like this one.
For the longest time, I’d get Instagram and Facebook ads served to me for something
called FoundersCard.
Curious, I eventually went to their site but was surprised to discover that, in order to
see a list of actual benefits, you needed to provide an email address.
I soon learned why that was as I began to receive regular solicitations from FoundersClub
before eventually receiving a free trial.
So, now that I’ve had a bit of a better look at FoundersCard, what does it have to
offer?
Let’s take a look at a few things to know.
The first things to know about FoundersCard is that it’s not a credit card and you don’t
actually have to be a Founder to apply for it
Given FoundersCard's resemblance to the likes of the American Express Platinum card or Chase
Sapphire Preferred, you might assume that it too is a credit card.
However, that’s not the case.
Instead, it’s simply a membership that includes a number of discounts and other perks.
Also, despite the name, the card is open to a greater swath of people than just quote-unquote
founders.
While it’s not exactly clear from their website who qualifies, it doesn’t seem as
though they’re too picky.
That said, as you’ll see, the benefits are most likely to appeal to those who are self-employed,
have small businesses, and the like.
Next, let’s discuss the two levels of FoundersCard and the stated price points for each
Just as it’s difficult to see a list of perks the FoundersCard offers before providing
an email, it’s also not exactly easy to find current pricing for the card.
On that note, in the time since I initially provided my email to the company, I’ve received
offers to become a member at a number of different promotional price points.
However, to give you an idea of the going rate, I’ll share what it currently shows
as full price for me, which is $595 per year for FoundersCard and $995 a year for FounderCard
Elite.
As for the differences between the two, Elite ups the amount of Stripe fee-free payment
processing members get, takes status at Avis and Hertz up a level, includes a Complimentary
Companion Standard Membership, and more.
That last perk may be among the best from what I’ve seen, but it’s a pretty steep
upgrade overall.
But, depending on your business needs, perhaps it will make sense.
As I mentioned, after months of getting emails and offers from FoundersCard, I eventually
signed up for a free trial - although several of the key benefits are disabled during this
intro period.
While the free trial that was issued to me lets me get a better look at some of the FoudersCard
perks, it also excludes some of the most appealing offers.
For example, several of the status benefits such as Caesars, Virgin Atlantic, and others
are blocked out as are discounts for the likes of John Varvatos, AT&T, and others.
Although I understand why this is necessary, it does make it harder to determine whether
the card is actually worth it.
On a related note, while the list of member offers looks endlessly long, you may notice
that the site begins listing individual hotel properties that are already covered by the
top line benefits.
In any case, if you do want to unlock the full suite of perks during your trial, you
may be able to upgrade at a special rate.
Another potential way of gaining value from the FoundersCard is with their FCPoints program
As a FoundersCard member, you can accrue points that can be redeemed for additional rewards.
For example, you can earn FCPoints for successfully referring others, writing reviews of certain
benefits, adding a companion membership, and more.
Then, points can be used for Amazon gift cards, lounge memberships, or even your Founderscard
membership fee.
With redemptions starting at 50,000 points, you’ll likely need to refer at least two
people in order to earn a reward, but it could be valuable if you do.
Finally, another aspect of FoundersCard that I thought was interesting was their Chrome
browser extension that helps alert you when some of your member perks could come be of
use
When you install the FoundersCard browser extension and land on a website with a supported
benefit, a pop up will inform you of your applicable perk.
This is quite similar to Rakuten or other services and works pretty well for what it
is.
Therefore, if you do end up becoming a member, I’d recommend giving this added tool a try.
Personally, while it’s hard to say for sure how much value I’d get from the FoundersCard,
I don’t see the math really working out for me in terms of covering the annual fee
with the value I get.
Still, I have to believe that it might make more sense for others.
To be sure, there are some attractive benefits to be found with FoundersCard, but - true
to its name - they are more business focused than some individuals might expect.
As a result, I wouldn’t recommend this as an alternative to premium cards like the Amex
Platinum or Chase Sapphire Reserve.
That said, if you are an entrepreneur, freelancer, or otherwise self employed person, perhaps
you’ll find more value in some of FounderCards perks than I did.
Hopefully this gives you a better idea about what FoundersCard is all about but for more
on the offering, I’ll have a link to my full overview in the description box down
below.
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