Systems and methods for extending consumer credit and processing transactions
First Claim
1. A method for extending consumer credit, the method comprising:
- identifying a consumer having a first line of credit associated with a consumer account; and
extending a second line of credit restricted for use with a designated merchant under the consumer account.
3 Assignments
0 Petitions
Accused Products
Abstract
A method for extending consumer credit comprises identifying a consumer having a first line of credit and extending a second line of credit restricted for use with a designated merchant or merchant association under a consumer'"'"'s account. In some embodiments, a risk abatement account is funded to pay uncollectible receivables of the credit provider created by the second line of credit. Other embodiments include incentives for one or both of use and timely payment(s) against the second line of credit. A system comprises a network, a management engine and an interface. The management engine associates a first line of credit and a second line of credit with a consumer account. The second line of credit is restricted to use with a designated merchant or association. When a consumer makes a purchase from the designated merchant(s), the management engine records the purchase transaction on the consumer'"'"'s second line of credit.
13 Citations
40 Claims
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1. A method for extending consumer credit, the method comprising:
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identifying a consumer having a first line of credit associated with a consumer account; and
extending a second line of credit restricted for use with a designated merchant under the consumer account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 13, 14, 15, 16, 17)
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11. A method for extending consumer credit, the method comprising:
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selecting a set of consumers each having a respective first line of credit associated with a consumer account;
presenting an offer to extend a second line of credit to one or more of the set of consumers, wherein the second line of credit is restricted to use with a designated merchant;
receiving an affirmative response to the offer; and
issuing the second line of credit to the consumer under the consumer account. - View Dependent Claims (12, 18, 19, 20)
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21. A system, comprising:
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a network;
a management engine coupled to the network and configured to associate a first line of credit and a second line of credit with a consumer account, wherein the second line of credit is restricted to use with a designated merchant; and
an interface coupled to the network and the management engine, the interface configured to receive consumer account and purchase transaction information, wherein when a consumer makes a purchase from the designated merchant, the purchase transaction information is recorded by the management engine on the consumer'"'"'s second line of credit. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29)
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30. A method, comprising:
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recording a purchase transaction from a merchant wherein the consumer uses a consumer account having a single identifier associated with a first line of credit and a second line of credit; and
logging the purchase transaction into one of the first line of credit and the second line of credit depending on the identity of the merchant. - View Dependent Claims (31, 32)
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33. A method, comprising:
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receiving, by a merchant, consumer account information associated with a first line of credit and a second line of credit, wherein the second line of credit is restricted to transactions between the consumer and the merchant; and
forwarding, based on said consumer account information, a portion of the amount of a purchase transaction to a risk abatement account. - View Dependent Claims (34)
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35. A method for extending consumer credit, the method comprising:
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identifying a consumer having a first line of credit associated with a consumer account, wherein the first line of credit is accepted at one or more locations to make a purchase; and
extending a second line of credit restricted for use with an online gift mall under the consumer account. - View Dependent Claims (36, 37, 38, 39, 40)
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Specification