Capital One has launched a new online service that allows you build your own credit card with features fine-tuned to your spending habits and rewards preferences.
The new “Capital One Card Lab” offers six different categories to make your credit card unique, including Basic Rewards, Additional Rewards, Introductory APR on Purchases, APR on Transfers, Annual Percentage Rate (APR) and Annual Fee.
First, you tell Capital One your credit score and it displays the six categories mentioned above.
Once you select a certain card attribute that appeals to you, other options will disappear, representing the tradeoff certain benefits afford.
For example, if you choose the longest 0% APR credit card offer, additional rewards are no longer available and you can’t choose a fixed APR for purchases. They don’t seem to offer a fixed rate credit card though.
There are a ton of combinations depending on what you choose, and it’s kind of interesting to play around with it just to get a better understanding of what credit card issuers will and won’t offer you.
You can also see what the most valuable combos are, which may be available with other credit card issuers apart from Capital One.
When everything is said and done, the tool likely just matches up certain criteria to existing Capital One credit cards, but it could lead to more innovative approaches with other card issuers.
This could be extremely valuable in the future if you’re looking for one particular benefit such as increased miles or unlimited cash back rewards.
Related: What credit card should I get?
Free Credit Scores: 
No Fee Balance Transfers: 
$200 Cash Back: 
$500 Cash Back: 
Comments are closed.