Systems and methods for processing credit card transactions that exceed a credit limit

US7953658B2 · kind B2 · utility

Assignee

• Capital One Financial Corporation · US

Inventors

• Kevin Huennekens · Arlington, US
• Haicheng Li · Stanford, US
• Martin Poteralski · Glen Allen, US
• Jeffrey Marshall · Austin, US
• Marc Solomon · Washington, US

Key dates

• Filing date: Apr 15, 2008
• Grant date: May 31, 2011
• Expiry date: Feb 18, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method, system, and computer are disclosed for managing a financial transaction associated with a financial account, wherein the transaction would cause an outstanding balance of the financial account to exceed a credit limit. The method comprises determining a merchant type for a merchant which is a party to the transaction. A merchant credit risk associated with the determined merchant type is determined. The merchant credit risk is compared to a threshold value defining an acceptable credit risk. The transaction is approved based on the comparison of the merchant credit risk with the threshold value.