Top Consumer Credit Cards

I came across an interesting article regarding the top consumer credit cards by Jennifer Waters at MarketWatch. She notes that Capital One's Card Lab was ranked No. 1 according to IndexCreditCards.com.

Capital One's Card Lab allows consumers to pick and choose their own features such as interest rates and rewards or introductory rates on new purchases or balance transfers. This seems somewhat similar to the Chase Freedom "Dynamic" rewards card. The Chase Freedom Card got a fresh rewards program this year that helped put it in the top three. The program automatically gives cardholders higher rebates for their three top monthly purchases, which tend to be gas, groceries and dining out.

Consumers like cash rewards, but not every bank can offer 5% cash back on every purchase. Personally, I feel flexible rewards cards may be the wave of the future when it comes to credit card rewards. Consumers will be able to receive higher cash back percentages from businesses and services they frequent more often versus other businesses. I see this as a win-win for both banks and consumers. Banks can still offer reasonable cash back rewards while consumers receives high cash back rewards on things they purchase most often.

Additionally, the article reviews three "green" cards for environmentally focused consumers which include the Bank of America Brighter Planet Visa, the GE Money Earth Rewards Card and the GreenPay MasterCard. The cards offer rewards points that help fund environmental projects such as tree planting.