Abstract
The present disclosure relates to systems and methods for determining the dynamic interest rates on missed card bill payments based on past payment history. The system introduces a dynamic interest rate model for card bill payments, which may analyze a customer's historical payment behavior to determine the interest rate for late payment penalty. The dynamic approach of analyzing the customer's historical payment behavior, allows the card issuers to provide lower interest rates on missed card bill payments to customers with a generally good payment history, fostering customer satisfaction and financial responsibility.
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.
Recommended Citation
Roy, Alok, "Dynamic Interest Rates on Missed Bill Payments Based on Past Payment History", Technical Disclosure Commons, (May 27, 2024)
https://www.tdcommons.org/dpubs_series/7045