REWARD SYSTEM AND METHOD FOR CASH REPLACEMENT SYSTEM

• US 20060293988A1
• Filed: 06/19/2006
• Published: 12/28/2006
• Est. Priority Date: 06/24/2005
• Status: Active Grant

• Current Assignee: Monaco Fund Incorporated
• Original Assignee: Monaco Fund Incorporated
• Inventors: Duroux, Christian, Sagaspe, Patrick Pierre
• Granted Patent: US 7,735,727 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0232 Frequent usage rewards other than merchandise, cash or travel
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A reward system and method for cash replacement cards wherein a card is issue by or other financial institution to a cardholder. Such a card may be a credit or debit card and provides for a reward, not available to the general public, to the cardholder,based on his or her usage,in the form of a commodity that has a known history of increasing in value over time,such as diamonds.

Claims

1. A method for rewarding a cardholder holding a cash replacement card based on usage of the card over a period of time comprising the step of:

awarding the cardholder an interest in a commodity not available to the general public based on usage of the card wherein said commodity has a known history of increasing in value over time.

2. The method of claim 1 wherein the step of awarding the cardholder an interest in a commodity includes the step of awarding the cardholder an interest in a diamond having a value of at least about 10% over the average price per carat of a diamond based on the RAPAPORT DIAMOND REPORT (RAPAPORT) charts of reference for diamonds.

3. The method of claim 1 wherein the step of awarding the cardholder an interest in a commodity includes the step of awarding the cardholder an interest in a diamond.

4. The method of claim 2 wherein the step of awarding the cardholder an interest in a diamond includes the step of awarding the cardholder an interest in a diamond having a color between about D to H as determined by the International Color Scale relating to diamonds.

5. The method of claim 4 wherein the step of awarding the cardholder an interest in a diamond having a color between D to F.

6. The method of claim 2 wherein the step of awarding said cardholder an interest in a diamond includes the step of awarding said cardholder in an interest in a diamond having a clarity of between about 1 F to VS2 as determined by the International Clarity Scale relating to diamonds.

7. The method of claim 6 wherein the step of awarding said cardholder with an interest in a diamond having a clarity includes the step of awarding said cardholder with a diamond having a clarity between about 1 F to VVS.

8. The method of claim 2 wherein the step of awarding said cardholder an interest in a diamond includes the step of awarding said cardholder in a diamond having a round brilliant cut.

9. The method of claim 8 wherein the step of awarding said cardholder an interest in a brilliant cut diamond includes the step of awarding said cardholder in a brilliant cut diamond having between 57 and 58 facets.

10. The method of claim 2 including the step of issuing a periodic statement to the cardholder associated with said card stipulating the number of diamonds accumulated by weight per 1/100 carat and value per carat.

11. The method of claim 11 including the step of providing to the cardholder the option of claiming diamonds accumulated or maintaining them as an investment in an account when a predetermined weight in diamonds is reached.

12. The method of claim 11 wherein the step of providing said option is providing said option when a weight of ½

carat is reached.

13. A system for rewarding a cardholder holding a cash replacement card based on usage of the card over a period of time comprising:

card issuing means for issuing a cash replacement card to the cardholder; and

reward program means associated with said card for awarding the cardholder an interest in a commodity associated with said card not available to the general public based on usage of the card whereon said commodity has a known history of increasing in value over time.

14. The system of claim 13 wherein the award program means includes diamond interest means for awarding the cardholder with an interest in a diamond having a value of at least about 10% over the average price per carat of a diamond based on the RAPAPORT DIAMOND REPORT (RAPAPORT) charts of reference for diamonds.

15. The system of claim 14 wherein said award program means includes diamond interest means for providing the cardholder with an interest in a diamond.

16. The system of claim 14 wherein said diamond interest means includes means for providing an interest in a diamond having a color between about D to H as determined by the International Color Scale relating to diamonds.

17. The system of claim 16 wherein said diamond interest means includes means for providing an interest in a diamond having a color between D to F.

18. The system of claim 14 wherein said diamond interest means includes means for providing interest in a diamond having a clarity of between about 1 F to VS2 as determined by the International Clarity Scale relating to diamonds.

19. The system of claim 18 wherein said diamond interest means includes means for providing an interest in a diamond having a clarity between about 1 F to WS.

20. The system of claim 14 wherein said diamond interest means includes means for providing an interest in a diamond having a round brilliant cut.

21. The system of claim 20 wherein said diamond interest means includes means for providing an interest in a brilliant cut diamond having between 57 and 58 facets.

22. The system of claim 14 including periodic statement issuing means to the cardholder associated with said card a statement stipulating the number of diamonds accumulated by weight per 1/100 carat and value per carat during a predetermined period.

23. The system of claim 22 wherein said statement issuing means provides to the cardholder the option of claiming diamonds accumulated or maintaining them as an investment in an account when a predetermined weight in diamonds is reached.

24. The system of claim 23 wherein the statement issuing means provides to the cardholder the option of claiming the diamonds or maintaining them in an account when a weight of ½

carat is reached.

25. A method for rewarding a saver or investor who has deposited funds in a savings or investment account based on the amount of money in said account, comprising the step of:

awarding the saver or investor an interest in a commodity not available to the general public based on the amount of money in said account wherein said commodity has a known history of increasing in value over time.

26. The method of claim 25 wherein the step of awarding the saver or investor an interest in a commodity includes the step of awarding the saver or investor an interest in a diamond.

27. A system for rewarding a saver or investor who has deposited funds in a savings or investment account based on the amount of money in said account, comprising:

reward program means associated with said account card for awarding the cardholder an interest in a commodity associated with said card not available to the general public based on the amount of money in said account whereon said commodity has a known history of increasing in value over time.

28. The system of claim 27 wherein the award program means includes diamond interest means for awarding the saver or investor with an interest in a diamond.