While “friends with benefits” usually
suggests a casual sexual arrangement, Shaquille O’Neal and Credit One Bank are giving it a much more practical twist, in a campaign that promotes the credit card’s 5% cash-back deal on Credit One Bank
X5 Visa Signature.
Created by Deutsch, the campaign positions the card as “credit that pays you back.” The company says the offer is its strongest cashback card yet, aimed at an audience it
calls “credit climbers,” those aspiring to more perks and better credit scores. And it launches at a charged moment when Americans are wrestling with new levels of credit card debt. The Wall Street
Journal reports that in the first quarter, the percentage of credit-card balances that were at least 90 days delinquent rose to 13.12%, citing the Federal Reserve Bank of New York. The WSJ
notes that this marks the highest level in 15 years.
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The ads, part of a new two-year deal, are running on TV, streaming on Amazon, Roku, Peacock, Paramount and YouTube, as well as earned and
social media, including TikTok and Instagram. Credit One chose O’Neal, who pitches many products, specifically for his commitment to credit access and financial education.
Amber Greenwalt,
senior vice president of brand and advertising, tells Marketing Daily via email that the goal of the new work is to blast through the competitive clutter surrounding credit card rewards. “We
needed to bring awareness, levity and a sense of ownability to a topic that is wildly saturated,” she says. The campaign is rooted in the insight that the brand’s audience is focused on making
financial gains via card use, but often finds them hard to come by.
And while Shaq is well known for being super-rich, Greenwalt says he’s also recognized for being down to earth, with a
long history of helping individuals, nonprofits and scholarship programs, as well as candor about money mistakes he made early in his career. “He’s a man of the people, and he’s passionate about
credit education and financial literacy.”
The “friends with benefits” concept comes with a wink. “At the end of the day, all friends come with benefits. But this is the credit card kind
— the kind that gives you tips on how to get rewards for your everyday spending.”
