System and method for providing extra lines of credit
3 Assignments
0 Petitions
Accused Products
Abstract
A system and method for upgrading existing credit cards with additional lines of credit is disclosed. Credit information associated with customers holding credit cards issued by a credit card issuer are analyzed to determine a level of risk associated with each customer. One or more extra line of credit may be established for selected customers based on the determined level of risk associated with each customer. Each extra credit line may be exclusively associated with a selected set of vendors that have a partnership agreement with the credit card issuer. The credit card issuer may allow customers to select vendors to be associated with the extra credit line or may automatically choose vendors for selected customers. Customers with established extra credit lines may purchase goods and/or service directly from vendor sites or at the credit card issuer'"'"'s web sites. Purchases at selected vendor sites may be automatically applied to a customer'"'"'s newly established extra credit line. Additionally, a customer may choose to apply purchases to their extra credit lines or their primary line of credit
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Citations
109 Claims
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1. -84. (canceled)
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85. A method for managing a financial account, comprising:
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providing a consumer with the financial account having a first account component and a second account component, wherein the first and second account components have respective first and second account parameters associated with purchase transactions made by the consumer using the financial account; receiving a selection of a vendor from the consumer that is associated with the first account component; processing purchase transactions with the selected vendor based on the first account parameter; and processing purchase transactions with other vendors based on the second account parameter. - View Dependent Claims (86, 87, 88, 89, 90, 91, 92)
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93. A system for managing a financial account, comprising:
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means for providing a consumer with the financial account having a first account component and a second account component, wherein the first and second account components have respective first and second account parameters associated with purchase transactions made by the consumer using the financial account; means for receiving a selection of a vendor from the consumer that is associated with the first account component; means for processing purchase transactions with the selected vendor based on the first account parameter; and means for processing purchase transactions with other vendors based on the second account parameter. - View Dependent Claims (94, 95, 96, 97, 98, 99)
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100. A computer-readable medium including instructions for performing a method, when executed by a processor, for managing a financial account, the method comprising:
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providing a consumer with the financial account having a first account component and a second account component, wherein the first and second account components have respective first and second account parameters associated with purchase transactions made by the consumer using the financial account; receiving a selection of a vendor from the consumer that is associated with the first account component; processing purchase transactions with the selected vendor based on the first account parameter; and processing purchase transactions with other vendors based on the second account parameter. - View Dependent Claims (101, 102, 103, 104, 105, 106, 107)
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108. A system for managing a financial account, comprising:
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at least one memory storing data and instructions; and at least one processor configured to access the at least one memory and execute instructions to; provide a consumer with the financial account having a first account component and a second account component, wherein the first and second account components have respective first and second account parameters associated with purchase transactions made by the consumer using the financial account; receive a selection of a vendor from the consumer associated with the first account component; process purchase transactions with the selected vendor based on the first account parameter; and process purchase transactions with other vendors based on the second account parameter.
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109. A method for managing a financial account, comprising:
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providing a consumer with the financial account having a first account component and a second account component, wherein the first and second account components have respective first and second account parameters associated with purchase transactions made by the consumer using the financial account; receiving a selection of a vendor from the consumer that is associated with the first account component; processing purchase transactions with the selected vendor based on the first account parameter including applying first fees to the financial account for purchase transactions with the selected vendor based on the first account parameter; and processing purchase transactions with other vendors based on the second account parameter, including applying second fees to the financial account for purchase transactions with the other vendors based on the second account parameter.
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Specification