Systems and methods for managing balance transfer accounts
First Claim
1. A method for managing a balance transfer account associated with a pre-existing debt account of a customer, the method comprising:
- creating a balance transfer account for the customer;
determining whether a payment to the balance transfer account received from the customer meets a payment threshold criteria;
if the received payment meets the payment threshold criteria, then notifying a credit bureau of the balance transfer account; and
if the received payment does not meet the payment threshold criteria, then closing the created balance transfer account without notification to the credit bureau.
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Accused Products
Abstract
Systems and methods consistent with the present invention manage balance transfer accounts associated with customer pre-existing debt accounts. The system first creates a balance transfer account for the customer, which may include opening the balance transfer account to allow the customer to activate it. The method then determines whether a payment to the balance transfer account received from the customer meets a payment threshold criteria. If the received payment meets the payment threshold criteria, then a credit bureau is notified of the balance transfer account and the balance transfer account remains open. If the received payment does not meet the payment threshold criteria, then the balance transfer account is closed without notification to the credit bureau.
158 Citations
30 Claims
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1. A method for managing a balance transfer account associated with a pre-existing debt account of a customer, the method comprising:
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creating a balance transfer account for the customer;
determining whether a payment to the balance transfer account received from the customer meets a payment threshold criteria;
if the received payment meets the payment threshold criteria, then notifying a credit bureau of the balance transfer account; and
if the received payment does not meet the payment threshold criteria, then closing the created balance transfer account without notification to the credit bureau. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for providing a balance transfer account associated with a pre-existing debt account of a customer, the system comprising:
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means for creating a balance transfer account for the customer;
means for determining whether a payment to the balance transfer account received from the customer meets a payment threshold criteria;
means for notifying a credit bureau of the balance transfer account if the received payment meets the payment threshold criteria; and
means for closing the created balance transfer account without notification to the credit bureau if the received payment does not meet the payment threshold criteria. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A method for managing a balance transfer account associated with a pre-existing debt account of a customer, the method comprising:
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opening a balance transfer account for the customer;
determining whether a payment to the balance transfer account received from the customer meets a payment threshold criteria;
if the received payment meets the payment threshold criteria, then keeping the balance transfer account open; and
if the received payment does not meet the payment threshold criteria, then closing the balance transfer account.
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22. A method for managing a balance transfer account associated with a pre-existing debt account of a customer, the method comprising:
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creating a balance transfer account for the customer;
determining whether a payment to the balance transfer account received from the customer meets a payment threshold criteria;
if the received payment meets the payment threshold criteria, then opening the balance transfer account; and
if the received payment does not meet the payment threshold criteria, then not opening the balance transfer account. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29)
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30. A method for managing a balance transfer account associated with a pre-existing debt account of a customer, the method comprising:
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creating a balance transfer account for the customer;
determining whether the customer satisfies predetermined qualification criteria;
if the customer satisfies predetermined qualification criteria, then notifying a credit bureau of the balance transfer account; and
if the customer satisfies predetermined qualification criteria, then closing the created balance transfer account without notification to the credit bureau.
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Specification