OCBC makes pitch for crowded card market

The Titanium Card appears to mirror key aspects of the Platinum Card, including having a similar salary requirement of S$50,000 (US$30, 000). Robin Nayak, managing partner of TBWA\Singapore, said the Titanium, Platinum and DBS' Black cards were similar in both brand image and benefits. "Cards must have clear value and a specific focus. At the moment, all cards are offering benefits for spas and restaurants, and the consumer would struggle to choose between these cards," he said. However, for differentiation from its rectangular-shaped rival, the Titanium Card -- developed together with MasterCard -- has gone for curved edges. According to Fiona Bartholomeusz, managing director of local shop Formul8, the agency behind the card's design and creative campaign, "it was a real challenge to create a card design that is first in the world, absolutely beautiful and, more importantly, fully functioning. Globally, there are very few credit cards that can boast a unique shape that can work in existing ATM and similar machines." As with its Platinum Card rival, the Titanium offer rolls in lifestyle and leisure benefits for cardholders with access to spas and golf clubs, as well as fashion previews and priority entry at popular clubs. However, OCBC has upped the ante, offering tie-ups with cosmetic surgeons. To drive take-up, the bank is offering a customised Titanium-coloured Mercedes-Benz SLK200 Kompressor in a lucky draw. According to Andy Chan, OCBC Bank's group head of unsecured lending and credit cards, the card is targeted at individuals who are "hip, trendy and have a quiet elegance about them". The marketing campaign for the card involves television, print, radio and outdoors. Said Chan: "The objective of the campaign is to create and reinforce the 'Titanium' personality and attitude that would ultimately propel these target consumers into signing up for the card or finding out more about its offers. "The design of the campaign creatives utilises the concept of 'a new metal in town' to showcase the power and strength of the brand. The campaign aims to make 'Titanium' a key topic of conversation in Singapore." When it launched in October, Amex's Platinum offer was marketed as a 'heavyweight' card, with ads depicting the card weighing down a jacket pocket to underline the inducements aligned with it. OCBC is targeting to push 100,000 cards in the next 18 months. The launch of the card comes amidst heavy spending among banks to promote their up-market card products, with Amex and DBS spending more than $7 million, followed by Citibank's $6.2 million and OCBC's $2.8 million. DBS is promoting its Black Card, while, Citibank is marketing a card that offers cash rebates on purchases.