System and method for calculating expected approval rates
First Claim
1. A computer implemented method for facilitating a calculation of an expected transaction account approval rate, said method comprising the steps of:
- retrieving account data for a transaction account, wherein said account data includes transaction account approval information, transaction account decline information, and at least one of a monthly limit, transactional limit, option control, and typical usage, and wherein said transaction account is configured to purchase at least one of goods and services;
receiving a desired modification of at least one of said monthly limit, said transactional limit, said option control, and said typical usage; and
,calculating said expected transaction account approval rate based on said desired modification, said transaction account approval information, and said transaction account decline information.
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Accused Products
Abstract
The invention facilitates the computation of expected approval rates based on historic transaction data relating to transaction classes, approved transactions and declined transactions. The invention provides a system and method by which a program administrator for a company may model varying client-imposed limit scenarios in order to determine one or more optimal monthly and/or transactional spending limits. Further, the present invention provides a means for setting varying monthly and/or transaction spending limits for purchases from any number of industries. Providing card members with information regarding optimal spending limits reduces the occurrences of declined credit transactions. A program administrator may also utilize the present invention to provide any number of limit scenarios in order to persuade a card member to increase their client-imposed credit limit to an optimal level thereby reducing the card member'"'"'s inconvenience caused by declined purchase transactions while recapturing lost revenues by the card issuer.
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Citations
8 Claims
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1. A computer implemented method for facilitating a calculation of an expected transaction account approval rate, said method comprising the steps of:
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retrieving account data for a transaction account, wherein said account data includes transaction account approval information, transaction account decline information, and at least one of a monthly limit, transactional limit, option control, and typical usage, and wherein said transaction account is configured to purchase at least one of goods and services; receiving a desired modification of at least one of said monthly limit, said transactional limit, said option control, and said typical usage; and
,calculating said expected transaction account approval rate based on said desired modification, said transaction account approval information, and said transaction account decline information. - View Dependent Claims (2, 3, 4, 5)
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6. A computer implemented method for facilitating a calculation of a transactional limit based upon an expected transaction account approval rate, said method comprising the steps of:
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retrieving account data for said transaction account, wherein said account data includes transaction account approval information, transaction account decline information, and at least one of a monthly limit, transactional limit, option control, and typical usage, and wherein said transaction account is configured to purchase at least one of goods and services; receiving a desired modification of at least one of said monthly limit, said transactional limit, said option control, and said typical usage; and
,calculating said transactional limit based on said desired modification and said at least one of said transaction account approval information and said transaction account decline information. - View Dependent Claims (7)
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8. A computer-readable storage medium containing a set of instructions for a general purpose computer configured for facilitating the steps of:
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retrieving account data for a transaction account, wherein said account data includes transaction account approval information, transaction account decline information, and at least one of a monthly limit, transactional limit, option control, and typical usage, and wherein said transaction account is configured to purchase at least one of goods and services; receiving a desired modification of at least one of said monthly limit, said transactional limit, said option control, and said typical usage; and
,calculating said expected transaction account approval rate based on said desired modification, said transaction account approval information, and said transaction account decline information.
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Specification