Clad in jet black and made of stainless steel, it’s called the VALT Card. Think of it as a credit card on steroids.
It’s a swanky new status symbol for the Dallas elite that grants priority reservations at high-end steakhouses, discounts for on-demand black car rides and high-end retailers.
Members can skip the line at posh night clubs and enter VIP-only events.
And Ryan Hoopes, CEO of VALT, said they are very selective about who gets one.
“We want people who will actually use the benefits and services we’re providing,” Ryan Hoopes said.
“We obtain an entire social, professional and cultural demographic on an applicant,” Hoopes said. “We don’t accept everybody. We want people who will actually use the benefits and services we’re providing.”
So far, it’s only available in Dallas-Fort Worth, Hoopes said.
“There’s plenty of opportunities to do it right here in Dallas,” he said.
The card launched in May and is currently adding about two members a week, Hoopes said. He declined to say exactly how many members they’ve got. The growth has occurred organically with no promotions or advertising, he added.
So far, they are the only ones doing this locally.
Membership is $150 a year and includes access to VALT Card parties, including a recent event with Dallas Mavericks owner and Cyberdust creator Mark Cuban.
The card is custom-made for each member.
About 60 percent of their members make more than $100,000 a year and 50 percent are between the ages of 30 and 40.
“It’s an affluent demographic that are actually using the high-end services and amenities we’re partnering with.”
“It’s an affluent demographic that are actually using the high-end services and amenities we’re partnering with,” Hoopes said. “Whenever somebody is accepted as a member, we extend the information from their original credit or debit card and transfer the information from their original card to the VALT card.”
Hoopes also works for Colliers International as a real estate adviser and broker in the corporate services division. Prior to that, he worked for the Dallas Stars as director of ticket sales and a senior account executive for ticket sales at the Texas Rangers.
This all started when a friend told him about exclusive black cards in New York City and Chicago.
“We knew we could do it better,” he said. “That’s what we set out to do. I think we take a more personal approach to our partnerships in town.”
“I think we take a more personal approach to our partnerships in town.”
At Nick & Sam’s, for example, cardholders can go to the VALT’s website and make a reservation. VALT Card handles the rest. When they arrive, they get priority reservations in the bar and other VIP accommodations.
For One Ride, they can get 30 percent discounts on black car rides.
VALT is in talks with about 30 other area businesses that could soon provide additional benefits to members.
“We want to make sure that if we partner with someone that it’s something that provides a true benefit to our members,” said Hoopes.
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