METHODS OF ESTABLISHING CREDIT
First Claim
1. A method for enhancing credit of a cardholder of a pre-paid card, said method comprising:
- issuing a pre-paid card to a cardholder;
charging the cardholder a fee to establish a credit instrument associated with an account and the pre-paid card;
billing the cardholder a portion of the amount owed for the credit instrument that includes the fee on a periodic basis, said billing being independent from billing for usage of the pre-paid card for purchasing goods and services;
determining whether the cardholder timely paid the bill for the portion of the credit instrument and the fee;
if the cardholder timely paid the bill for the portion of the credit instrument and the fee, then recording the payment as being timely paid;
otherwise, recording that the bill for the portion of the credit instrument and the fee was not timely paid; and
reporting the timeliness of the payment of the portion of the credit instrument and the fee, the timeliness of the payment being used to affect a credit rating of the cardholder.
1 Assignment
0 Petitions
Accused Products
Abstract
A method for enhancing credit of a cardholder of a pre-paid card may include issuing a pre-paid card to a cardholder. The cardholder may be charged a fee to establish a credit instrument associated with an account and the pre-paid card. The cardholder may be billed a portion of the credit instrument that includes the fee on a periodic basis, where the billing may be independent of billing for purchases of goods and services with the pre-paid card. A determination as to whether the cardholder timely paid the bill. If the cardholder timely paid the bill, then the payment may be recorded as being timely paid. Otherwise, a recording may be made that the bill was not timely paid. A reporting as to the timeliness of the payment may be made to affect a credit rating of the cardholder.
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Citations
15 Claims
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1. A method for enhancing credit of a cardholder of a pre-paid card, said method comprising:
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issuing a pre-paid card to a cardholder; charging the cardholder a fee to establish a credit instrument associated with an account and the pre-paid card; billing the cardholder a portion of the amount owed for the credit instrument that includes the fee on a periodic basis, said billing being independent from billing for usage of the pre-paid card for purchasing goods and services; determining whether the cardholder timely paid the bill for the portion of the credit instrument and the fee; if the cardholder timely paid the bill for the portion of the credit instrument and the fee, then recording the payment as being timely paid; otherwise, recording that the bill for the portion of the credit instrument and the fee was not timely paid; and reporting the timeliness of the payment of the portion of the credit instrument and the fee, the timeliness of the payment being used to affect a credit rating of the cardholder. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13, 14, 15)
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10. The method according to claim 10, wherein establishing the terms includes setting a minimum monthly payment for the cardholder to pay back the credit instrument and the fee.
Specification