[Infographic]Credit Card Approval Rate

[bitheerani90]

The credit card approval rate is the percentage of applications accepted by financial institutions. This metric is crucial to understanding a business’s financial health and consumer confidence. Tracking this rate helps optimize credit strategies and increase sales.
Online sales are a dynamic environment with many unique features and high growth rates. Because of this, it is important to understand which metrics are most important for the success of your digital business: ROI, CTR and CPA are just a few examples of what we find in this environment.

But we have a metric that stands out from the others. Mainly because it is treated as a financial metric: the credit card approval rate. Its main objective is to understand how much of the sale latvia mobile database actually completed and what percentage of purchases were lost. For example, if you received 10 orders for product 'X' and 8 of them were approved and paid, your approval rate is 80%.

Now that you know what the approval rate is and what it is for, it is time to understand what this rate can mean for your digital business. To do this, we need to know how much credit card purchases impact your total revenue.