US 12,346,931 B2
System and method for redeeming a reward
Gregory Willard Lambert, Midlothian, VA (US); and Philip John Spiegel, Midlothian, VA (US)
Assigned to CAPITAL ONE SERVICES, LLC, McLean, VA (US)
Filed by Capital One Services, LLC, McLean, VA (US)
Filed on Nov. 20, 2023, as Appl. No. 18/515,064.
Application 18/515,064 is a continuation of application No. 17/462,876, filed on Aug. 31, 2021, granted, now 11,861,658.
Application 17/462,876 is a continuation of application No. 16/363,459, filed on Mar. 25, 2019, granted, now 11,132,708, issued on Sep. 28, 2021.
Application 16/363,459 is a continuation of application No. 11/232,257, filed on Sep. 20, 2005, granted, now 10,242,382, issued on Mar. 26, 2019.
Prior Publication US 2024/0086965 A1, Mar. 14, 2024
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 30/0251 (2023.01); G06Q 30/02 (2023.01)
CPC G06Q 30/0251 (2013.01) [G06Q 30/02 (2013.01); G06Q 30/0255 (2013.01); G06Q 30/0254 (2013.01)] 20 Claims
OG exemplary drawing
 
19. A computer-implemented method for improved timing of a personalized targeted reward redemption offer to an individual based on rewards held by the individual, comprising:
receiving account holder information associated with a plurality of individuals transmitted by external systems via a network, the account holder information including transaction history data;
determining, using a processor, dynamic threshold criteria, wherein the dynamic threshold criteria includes a threshold quantity of rewards held by one or more individuals within a predetermined period of time that entitle the one or more individuals to participate in a targeted reward redemption program, wherein a reward is associated with a reward account;
parsing the account holder information, using the processor, to identify the one or more individuals that meet the dynamic threshold criteria based on the account holder information for each respective individual, each dynamic threshold criteria being determined based on one or more individualized details wherein the processor identifies the one or more individuals by:
searching at least one database containing information associated with the one or more individuals using the dynamic threshold criteria, the at least one database also containing transaction history archive information comprising one or more patterns of transaction activity; and
determining whether respective rewards associated with the one or more individuals where held for a length of time by each individual;
determining, using the processor, a targeted reward redemption offer based on at least the dynamic threshold criteria;
determining, using the processor, a probability of acceptance of the targeted reward redemption offer for each of the one or more individuals based on at least the one or more patterns of transaction activity;
determining a first individual of the one or more individuals by ranking the one or more individuals based on at least a score for each of the one or more individuals based on each respective probability of acceptance;
adjusting, using the processor, the targeted reward redemption offer based on a respective probability of acceptance of the first individual;
transmitting, using the processor via a network, an electronic communication to a device, wherein the electronic communication comprises the targeted reward redemption offer;
receiving, at the processor via the network, a response from the device, wherein the response indicates an acceptance of the targeted reward redemption offer confirming that the first individual has redeemed the targeted reward redemption offer;
determining, via the processor, a reward account of the identified individual associated with a transaction account; and
adjusting, via the processor, the reward account of the identified individual in accordance with the targeted reward redemption offer and the received response.