System and method for providing property-secured credit card products
First Claim
1. A method of providing a secured credit card product from a card issuer to a customer, said method comprising:
- identifying customer property to be utilized as collateral in exchange for the secured credit card product; and
providing the customer with the secured credit card product, said secured credit card product having a credit limit based on an assessed market value of the customer'"'"'s collateral property.
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Accused Products
Abstract
A system, method, and computer program product provides credit card products secured with personal property, real property, or intellectual property to minimize risk to credit card issuers while making secured credit card products available to customers who currently cannot obtain such a card. The customer identifies customer property to be utilized as collateral in exchange for the secured credit card product. A market value of the collateral property is assessed, and the card issuer determines a credit limit based on the assessed market value. The card issuer offers the secured credit card product with the determined credit limit, and receives in response, an assignment of ownership of the customer'"'"'s collateral property. The card issuer provides the secured credit card product in response to receiving the assignment of ownership. The assignment and the property may be held by an escrow agent.
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Citations
21 Claims
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1. A method of providing a secured credit card product from a card issuer to a customer, said method comprising:
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identifying customer property to be utilized as collateral in exchange for the secured credit card product; and providing the customer with the secured credit card product, said secured credit card product having a credit limit based on an assessed market value of the customer'"'"'s collateral property. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A method of providing a secured credit card product from a card issuer to a customer, said method comprising:
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receiving from the customer, an identification of customer property to be utilized as collateral in exchange for the secured credit card product; assessing a market value of the customer'"'"'s collateral property; determining by the card issuer, a credit limit based on the assessed market value of the customer'"'"'s collateral property; offering by the card issuer, the secured credit card product with the determined credit limit; receiving from the customer, an assignment to the card issuer of ownership of the customer'"'"'s collateral property; and issuing by the card issuer, the secured credit card product in response to receiving the assignment of ownership. - View Dependent Claims (9)
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10. A computer program product for providing a secured credit card product from a card issuer to a customer, the computer program product comprising computer-readable media having computer-readable code, the computer program product comprising the following computer-readable program code for effecting actions in a computing platform:
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program code for determining-by-the card issuer, a credit limit for the secured credit card product based on an assessed market value of collateral property assigned to the card issuer by the customer; and program code for providing to the customer, the secured credit card product with the determined credit limit. - View Dependent Claims (11, 12, 13, 14, 15, 16)
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17. A system for providing a secured credit card product from a card issuer to a customer, said system comprising:
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means for receiving from the customer, an identification of customer property to be utilized as collateral in exchange for the secured credit card product; and means for providing the customer with the secured credit card product, said secured credit card product having a credit limit based on an assessed market value of the customer'"'"'s collateral property. - View Dependent Claims (18, 19, 20, 21)
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Specification