Capital one services, llc (20240232895). DYNAMIC PURCHASING POWER VISUALIZATION simplified abstract

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DYNAMIC PURCHASING POWER VISUALIZATION

Organization Name

capital one services, llc

Inventor(s)

Martin Figueroa-ramirez of Silver Spring MD (US)

Jennifer Kwok of Brooklyn NY (US)

Susan Hogan Davis of Alexandria VA (US)

Tara Ann Hickey of Herndon VA (US)

DYNAMIC PURCHASING POWER VISUALIZATION - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240232895 titled 'DYNAMIC PURCHASING POWER VISUALIZATION

The disclosed embodiments involve determining and communicating purchasing power through a visualization using a trained machine learning model on a credit card without a preset limit.

  • Predict dynamic spending limit based on credit card data or credit score data
  • Compute purchasing power as the difference between dynamic spending limit and current balance
  • Determine purchasing power class based on purchasing power
  • Generate graphic representation of purchasing power class
  • Trigger presentation of graphic representation on or around the physical card
      1. Potential Applications:

This technology could be applied in the financial sector for credit card companies to provide users with real-time information on their purchasing power.

      1. Problems Solved:

This technology addresses the need for users to have a clear understanding of their spending limits and available credit at any given time.

      1. Benefits:

- Empowers users to make informed purchasing decisions - Helps prevent overspending and potential credit card debt - Enhances user experience and satisfaction with credit card services

      1. Commercial Applications:

The commercial applications of this technology could include integration into mobile banking apps, credit card statements, and online account management platforms to provide users with a visual representation of their purchasing power.

      1. Questions about Purchasing Power Visualization:
        1. 1. How does the machine learning model predict the dynamic spending limit?

The machine learning model predicts the dynamic spending limit based on credit card data or credit score data, analyzing patterns and trends to determine an appropriate limit.

        1. 2. What are the potential implications of overlaying the graphic representation on or around the physical card?

Overlaying the graphic representation on or around the physical card provides users with a convenient and visual way to understand their purchasing power while using the credit card.


Original Abstract Submitted

disclosed embodiments pertain to determining and communicating purchasing power through a visualization. a trained machine learning model can be invoked on a credit card without a preset limit to predict a dynamic spending limit based on credit card data or credit score data. purchasing power can be computed as the difference between the dynamic spending limit and a current balance, and a purchase power class can be determined based on the purchasing power. further, a graphic representation of a purchasing power class can be determined. subsequently, presentation of the graphic representation can be triggered in a manner that overlays the graphic representation on or around the physical card.

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