Capital One Card Lab Lets You Build Your Own Credit Card
By Justin McHenry
Capital One today unveiled a new Web site called Card Lab that gives consumers the opportunity to “build their own” credit card by choosing among various options for introductory and ongoing interest rates, rewards, annual fee (or none), and card design. The choices are then packaged together to create a card customized to each cardholder’s personal preferences.
Of course, choosing a card’s features means making tradeoffs. Every time you make one choice, a certain number of other choices are closed off to you. So, if you want no-frills, no rewards, you can get a lower interest rate. Want points or air miles? The interest rate goes up. Want a 0% interest rate for a year? Expect a higher ongoing rate. Want two points per dollar charged instead of one? Prepare to pay an annual fee.
While a “build your own” credit card concept has been done in the UK, we believe this is the first time it’s been seen in the United States.
The Capital One Card Lab can be found at http://www.capitalonecardlab.com.
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1.Discover® More Card - 0% APR on balance transfers for 12 months & 6 months on purchases, 5% cashback bonus in popular categories, up to 1% cashback bonus on all other purchases
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2.Chase Freedom Card - 0% Intro APR and no Annual Fee, 5% bonus cash back in popular categories , 1% cash bank on everything else
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3.Citi® Platinum Select® MasterCard® - 0% on purchases & balance transfers for Up to 18 months, APR as low as 9.99% variable. $30 statement credit.
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4.Blue Cash® from American Express - Earn up to 5% cash back on gas, groceries and drug store purchases, and up to 1.5% back on all other purchases, no annual fee, fast approval under 60 seconds
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6.American Express® Gold Card - 10,000 American Express Membership Rewards bonus points when you use the card for at least $500 in purchases within the first 3 months.
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7.TrueEarnings® Business Card from Costco & American Express - 4% cash back for annual gas purchases up to $6,000, 3% restaurants, 2% travel, 1% everywhere else, 0% APR on purchases for first 6 months
