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Fanatics Enters Financial Services With American Express Credit Card Launch

Fanatics is launching its first credit card on the American Express network later this year, expanding beyond its core sports retail operations. Cardholders will earn FanCash, the company's digital rewards currency, redeemable for apparel, tickets, trading cards, collectibles and experiences. The company projects over $1 billion in FanCash issuance this year. The card will integrate with Fanatics ONE, the loyalty program launched last year that now boasts more than 30 million users. Members will receive elevated tier status and additional benefits. American Express cardholders, 80 percent of whom are sports fans, can convert their rewards points to FanCash. The move represents Fanatics' growing platform maturity as the company seeks additional touchpoints with its customer base.