Coutts & Co, the upmarket private bank owned by Royal Bank of Scotland, is launching Coutts World, a super-premium credit card.
The purple card has been designed by British menswear designer Ozwald Boateng. It comes with an array of luxury international “concierge” services and a high Air Miles collection rate. The card also offers holders access to hospitality packages at Wimbledon, the Monaco Grand Prix and the Cannes Film Festival, or the opportunity to take a trip around the world in a private jet.
The launch is being overseen by Coutts head of marketing and business development Perry Littleboy. The bank claims the card is offered by invitation only. The 350 annual fee will be waived if, as is likely to be the case with half of its customers, more than 50,000 is spent on the card during the year.
The card is a response to a rash of super-premium cards offered by other providers, notably American Express, which offers its black Centurion card (annual fee 650) on an invitation-only basis to its wealthiest customers.
Earlier this year, private bank Arbuthnot Latham teamed up with private members’ club Quintessentially to offer a “beyond black” credit card to celebrities such as Jemima Khan and Gwyneth Paltrow. Black cards are also offered by NatWest and HSBC to premium customers.