Implementing a counter offer for an on line credit card application

• US 20050004864A1
• Filed: 07/28/2004
• Published: 01/06/2005
• Est. Priority Date: 06/15/2000
• Status: Abandoned Application

• Current Assignee: NextCard LLC
• Original Assignee: NextCard, Inc.
• Inventors: Coltrell, Timothy, Reddi, Munnamgi S., Tracy, Christopher O., Lent, Jeremy, Huang, TaChung
• Application Number:
  US10/901,715
• Publication Number:
  US 20050004864A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A system and method are disclosed for offering credit to an applicant. A plurality of offers are determined using information about the applicant. A displayed offer is displayed and a withheld offer is withheld. An indication that the displayed offer is unacceptable is received and the withheld offer is displayed.

Claims

1. A method of offering credit to an applicant over a network comprising:

determining a plurality of offers using information about the applicant;

displaying a displayed offer and withholding a withheld offer;

receiving an indication over the network that the displayed offer is unacceptable; and

displaying the withheld offer.

2. A method of offering credit as recited in claim 1 wherein the plurality of offers each have offer attributes and wherein the indication that the displayed offer is unacceptable includes an indication that an attribute is unacceptable.

3. A method of offering credit as recited in claim 1 wherein the unacceptable attribute is an interest rate.

4. A method of offering credit as recited in claim 1 wherein the unacceptable attribute is an annual fee

5. A method of offering credit as recited in claim 1 wherein the unacceptable attribute is an introductory interest rate.

6. A method of offering credit as recited in claim 1 wherein the unacceptable attribute is the length of time that an introductory interest rate is in effect.

7. A method of offering credit as recited in claim 1 wherein the unacceptable attribute is a long term interest rate.

8. A method of offering credit as recited in claim 1 wherein the unacceptable attribute is a credit limit

9. A method of offering credit as recited in claim 1 wherein the attribute is selected by an applicant from a list of selected attributes

10. A method of offering credit as recited in claim 1 wherein the attribute is selected by a customer service agent based on line chat between the customer service agent and the applicant.

11. A method of offering credit as recited in claim 1 wherein the attribute is selected by analyzing a response from an applicant.

12. A method of offering credit as recited in claim 1 further including adding a condition to the withheld offer.

13. A method of offering credit to an applicant over a network comprising:

determining an offer using information about the applicant;

displaying the offer to the applicant;

receiving an indication over the network that the displayed offer is unacceptable;

determining an attribute of the offer that is unacceptable;

in the event that the unacceptable attribute is the amount of the credit limit;

recalculating the credit limit for the applicant.

14. A method of offering credit as recited in claim 13 further including determining whether the credit limit is too low for new purchases or too low for a balance transfer.

15. A method of offering credit as recited in claim 14 further including, in the event that the credit limit is too low for new purchases, raising the credit limit and decreasing a required balance transfer to provide more credit for new purchases.

16. A method of offering credit as recited in claim 14 further including, in the event that the credit limit is too low for a requested balance transfer, raising the credit limit to a predetermined amount above the requested balance transfer and checking whether the raised credit limit is acceptable.

17. A method of offering credit as recited in claim 14 further including determining whether the credit limit can be raised enough to meet a requested amount of credit for new purchases based on information about the applicant.

18. A method of offering credit as recited in claim 17 wherein the information about the applicant includes a FICO score.

19. An application server for providing a counter offer of credit including:

an applicant interface configured to receive applicant data from an applicant browser and to communicate an offer of credit to the applicant and the counter offer of credit to the applicant;

a processor configured to determine the offer of credit based on the applicant data and the counter offer of credit based on an unacceptable attribute of the first offer of credit; and

an agent interface configured to receive the unacceptable attribute from an agent.