A newly launched online tool from the famous capital one credit card company called the "capital one card lab" gives consumers a range of menu options to build their own credit card.
The Capital One Card Lab offers a huge of options related to areas such as:
- Interest rates
- Annual fees
- Rewards programs
- The design of the front of the card
The program basically allows users to select the specific combination of features and benefits that are of most value to them.
How Does The Capital One Card Operate?
At the site there are a range of interactive decision choices. The consumer will select the their options and design and go on to complete an online application. Once approved, the customized credit card will be mailed to them. Here are some of the configurable variables available:
- Rewards which provide options on cash, points or miles
- Specific reward bonuses for example in categories such as travel or entertainment
- A range of interest rates
- A range of introductory offers
- Annual running fees
- A range of card designs
The Capital One Card Lab will offer a totally new level of transparency for consumers who in turn will be able to trade-off the various variables that are important in order to make the card work for individual. The clever part of the software is that it will eliminate options that are no longer relevant based on previous choices. For illustration, consumers that select to pay an annual fee, can earn various reward points at a faster rate.
This bold new step by a highly innovative company absolutely shifts power from the companies to the customer, while educating them in the impact of the choices they make. The Capital One Card Lab is certainly one to watch.
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