The Capital One Cardlab

Posted by: Henry B. | Feb 28,2008

I was watching TV last night and I saw a commercial for the Capital One Cardlab.  I’ve got to hand it to the marketing department at Capital One.  They’ve got one of the most recognizable ad campaigns of any credit card.  I’d say their biggest rival is MasterCard, with their “priceless” campaign.  Still, the priceless campaign doesn’t make me want to jump to sign up for a MasterCard as much as Capital One’s “What’s in Your Wallet” campaign, which does a very good job of making the case that a Capital One card is safer to use than other credit cards.  Trivia fact: do you know who does the voiceover for the MasterCard commercials?  The actor Billy Crudup:

 

The Capital One Card Lab is another good idea from the gang at Capital One.  Check out the Capital One Cardlab ads on Youtube: a James Bond-style ad, a science fiction ad and a Frankenstein ad, all Super Bowl-caliber commercials.  Somehow they make the idea of wielding plastic look fun.  Let’s look at what the Cardlab actually has to offer.  

The Capital One Cardlab is like a credit card for the Web 2.0 generation.  Here’s how you sign up for a Capital One Cardlab card:

1. Input your credit level (poor, average, good, excellent).
2. Select the features and rewards you want for the card.
3. Add your own image.
4. Apply online. 

It’s an application for a credit card that is something like setting up a Myspace page.  Even though online credit card search engines make the process of comparing and contrasting credit cards much easier, this card takes the process one step further.  In a search engine, you can search through airline-mile cards, student cards, and the like, but you’re basically boxed in by what’s available.  This do-it-yourself approach makes a lot of sense.  Instead of hunting around for a good rewards plan, you choose your own rewards.  



But the best part of the card is the ability to put any image you want on the card.  My guess is that the image has to be within the limits of good taste, but if you want a card with a picture of your kid or your favorite movie, you’ll be able to do so.  This like changing the background on your webpage or on your computer desktop.  It’s what people are more and more accustomed to do so it was smart for Capital One to adopt this technology.  

All in all this seems like a pretty big credit card breakthrough and I wouldn’t be surprised to see many other credit card issuers falling suit with their own variant on the Cardlab.  Credit card companies want credit card applications to be as user-friendly as possible, and the ability to personalize a credit card is bound to be attractive to a large number of potential cardholders.   

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