System and method for establishing or modifying an account with user selectable terms

A method of modifying an existing credit card account and associated physical credit card using a web page comprising the steps of:

• receiving an account number entered by an account holder in a web page;
• sending to the account holder, over a network, at least a portion of the existing account terms for an account identified by the account number, wherein the portion of the existing account terms are displayed to the account holder on a web page, and wherein the sending occurs at a time when the account holder may use the account to complete purchases;
• sending to the account holder, over a network, a plurality of new available account terms, wherein the plurality of new available terms are displayed to the account holder on a web page;
• receiving from the account holder a selection of at least one of the new available account terms entered by an account holder in a web page, wherein the selection comprises a selected credit card design;
• and
• providing to the account holder a physical credit card comprising the selected credit card design.