Method and system for processing customized reward offers
DCFirst Claim
1. A method for providing and managing a customized reward offer to a holder of a financial account, said method comprising:
- accessing historical account data associated with said financial account;
determining a first performance target associated with said financial account;
selecting a reward offer having an associated reward description;
transmitting said first performance target and said reward description to said account holder;
collecting transaction data associated with said financial account; and
evaluating said collected transaction data to determine a second performance target associated with said financial account.
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Abstract
The present invention is a method is for providing and managing a customized reward offer to a holder of a financial account. The method includes the step of accessing historical account data associated with the financial account. The method further includes the step of determining a first performance target associated with the financial account. The method also includes the steps of selecting a reward offer having an associated reward description and transmitting the first performance target and the reward description to the account holder. The method continues with the steps of collecting transaction data associated with the financial account and evaluating the collected transaction data to determine a second performance target associated with the financial account. The collected transaction data is then compared to said first performance target. If the collected transaction data exceeds the first performance target, the financial account is updated to reflect the reward. A system is also provided to implement the steps of the method.
304 Citations
47 Claims
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1. A method for providing and managing a customized reward offer to a holder of a financial account, said method comprising:
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accessing historical account data associated with said financial account;
determining a first performance target associated with said financial account;
selecting a reward offer having an associated reward description;
transmitting said first performance target and said reward description to said account holder;
collecting transaction data associated with said financial account; and
evaluating said collected transaction data to determine a second performance target associated with said financial account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A method for providing a customized reward offer with a credit card account, said method comprising:
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accessing historical account data associated with said credit card account;
determining a first performance target associated with said credit card account;
collecting transaction data associated with said credit card account; and
evaluating said collected transaction data to determine a second performance target associated with said credit card account. - View Dependent Claims (25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47)
comparing said collected transaction data to said first performance target; and
updating said financial account to reflect said reward based on said comparing.
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43. The method of claim 42 wherein updating includes modifying an interest rate.
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44. The method of claim 42 wherein updating includes modifying reward program point data.
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45. The method of claim 44 wherein said point data represents frequent flyer miles accumulated by said account holder.
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46. The method of claim 42 wherein updating includes modifying a minimum periodic payment parameter.
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47. The method of claim 42 wherein updating includes processing a rebate.
Specification