First things first — the FoundersCard is not for everyone. It wasn't meant to be in the first place. Why do we say that? Because a lot of the benefits aren't aligned with developing nations like India and the card primarily focuses on the United States and European countries. For those of you who don't have an idea about the FoundersCard and why is it relevant, read along!
What Is the FoundersCard and How Is It Different?
The FoundersCard is a unique offering in itself. In a world that is dominated by credit cards aligning a plethora of perks like miles, discounts and credit points, the FoundersCard offering may seem underwhelming to a layman. But then, this wasn't meant to extend credit, or behave like a credit card whatsoever. This can't pay your bills, but rather help you save money on your bills! Yes, you heard it right. The card can come in handy, especially for frugal entrepreneurs and founders.
Touted as the 'lifestyle' card, FoundersCard compiles exclusively curated benefits for an annual membership fee. The membership card gives you a plethora of benefits including special discounts, elite badges and statuses, and even some freebies. For those, who don't own or do not wish to own a credit card, the FoundersCard turns out to be an able medium to enjoy the same set of perks anyway. From hotels to vouchers to priority access, FoundersCard combines a variety of benefits into one single offering— an investment that's worth the amount spent.
How Much Does the FoundersCard Cost?
The general price for the FoundersCard stands at $595 per year, with a $95 initiation fee (or a discounted membership worth $495 via a member referral), which makes the card pretty expensive and 'not-so-value for money' if we consider the Indian market. However, the FoundersCard can be of great use in western countries with a plethora of connected features revolving around the offerings.
Alternatives to FoundersCard (Globally)
If you don't think that the FoundersCard is the right choice for you, and you're desperately searching for other alternatives, we have some good news for you! There are various cards available in the market that can extend similar benefits and even extend you a line of credit along the way. Let's jump right into it to find out more about compelling FoundersCard alternatives:
Amex Platinum Card
Often touted as the epitome of luxury credit cards, you can't simply go wrong with Amex's platinum range of credit cards. The card provides luxury privileges, mind-boggling travel benefits, the best lounge access, and complimentary elite statuses, truly a beauty you can't resist! Truly there are very few cards available in the market that can match the ultra-luxury benefits of the Amex Platinum Card.
- Access to a whopping 1400 airport lounges across the globe which also includes the ultra-luxurious Amex Centurion Lounges, Plaza Platinum Lounges and Priority Pass Lounges, and more.
- 5x points on every $1 spent directly with the airlines or American Express Travel (Up to $500,000 a year).
- 5x points on prepaid hotel bookings at American Express Travel.
- Annual and Monthly Statement Credits (Subjected to Enrollment) — right from flight credits, and streaming credits to uber credits.
- No transaction fee on international payments (t&c applied).
- High Annual Fee of $695, a hefty amount when compared to other credit cards operating at the same level.
- Airline credit can't be redeemed against the airfare.
Regus Businessworld Membership
Being a founder demands flexibility whether it be taking early flights or staying up late to fine-tune that business plan, a founder dons many hats to get things right. You may possess the superpower to work from anywhere but when you're travelling and finally arrive at your destination, you would want to stay focused. This is where the Regus Businessworld Membership comes in! This curated program gives small business owners access to over 3000 business lounges globally.
- Access to 3000+ worldwide business lounges
- Complimentary Tea & Coffee
- Meeting Rooms
- No airline benefits.
- A $59 monthly fee may not be everyone's cup of tea.
- Extra charges for meeting rooms and conference rooms.
Similar to the FoundersCard, Select offers a variety of membership benefits to its users in exchange for an annual membership fee. One cannot use the card for transactions but can only redeem the card's benefits across the partner network. Much like the FoundersCard, Select helps business owners, founders, and users enjoy perks on travel, restaurants, retailers, and nightlife. Moreover, much like the FoundersCard, it gives the cardholder access to private events, cocktail hours, happy hour deals, and galas.
- 600,000+ partner locations.
- Hotel partners like Hyatt hotels, Four Seasons, St. Regis and Hilton.
- Retail partners like Audi, Lexus, Tommy Bahama, Capital Grille and Bliss Spa.
- Happy hours, cocktail hours.
- Exclusive and Private Networking Events.
- Limited Availability
- Premium Price Tag
FoundersCard Alternatives in India
The select card or the Amex Platinum card though has a global consumer base, but the needs of an Indian founder is different. Indian business owners need flexibility and ecosystem support, and things that help them save upon upfront business costs. Indian businesses and startups are about sustaining for the long run and keeping the same in mind, we have compiled a couple of worthy alternatives to FoundersCard in India. They are as follows:
The Karbon Card is an attractive business card designed to keep business owners on the left, right, and centre. The card provides high credit limits, the ability to get cashbacks on the partner network, and exclusive rewards to the cardholder. The card can help business owners save up to 50 lakh in expenses across various providers.
- 12% discount on monthly AWS billing.
- $5,000 in AWS credits for a whole year.
- $50000 in Segment credits.
- 50% discount on Mailmodo.
- $4,000 Freshworks credit and more.
- Fast approval rates.
- New product, still to go global.
- Limited Awareness among users.
Volopay Business Credit Cards
Similar to the Karbon Card, Volopay is another global player that is quickly becoming popular among founders and small business owners owing to fast approval rates, robust teams, and higher credit limits. Although the card doesn't provide huge membership benefits, founders can get access to 45-50 days of credit and track their expenses, keep a check on leakages, and optimize business operations on the go.
- High credit limit.
- 45-50 day credit-free period.
- Track business expenses.
- Dashboard and App Access.
- Keep a check on financial leakages.
- No considerable travel or membership perks whatsoever.
- Limited awareness
Overall, FoundersCard is an interesting concept if one looks at it from the layman point of view. The card and the alternatives may be of great use globally, and are highly recommended for seasoned travellers and founders who are always on the move. However, for an average Indian founder, the need of the hour is frugality and sustainability, something that would matter in the long run.
What is FoundersCard?
FoundersCard compiles exclusively curated benefits for an annual membership fee. The membership card gives you a plethora of benefits including special discounts, elite badges and statuses, and even some freebies.
How much does the FoundersCard cost?
The general price for the FoundersCard stands at $595 per year, with a $95 initiation fee (or a discounted membership worth $495 via a member referral).
What are the alternatives to FoundersCard?
Some of the popular alternatives for FoundersCard are:
- Amex Platinum Card
- Regus Businessworld Membership
- Select Card
- Karbon Card
- Volopay Business Credit Cards