Method and system for providing multiple credit lines

• US 7,455,221 B2
• Filed: 11/12/2004
• Issued: 11/25/2008
• Est. Priority Date: 11/12/2004
• Status: Expired due to Fees

• Current Assignee: Boscov's Investment Company, Inc.
• Original Assignee: Boscov's Department Store LLC (Boscov's, Inc.)
• Inventors: Sheaffer, Dean
• Primary Examiner(s): ST CYR, DANIEL
• Application Number:
  US10/986,165
• Publication Number:
  US 20060106691A1
• Time in Patent Office: 1,474 Days
• Field of Search: 235/380, 235/382, 235/383, 235/487, 235/492
• US Class Current: 235/380
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0242 Determining effectiveness of advertisements
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method and system for applying for and providing an access device, whereby an applicant completes a multipurpose access device application that is reviewed under qualification processes established by multiple access device providers acting in cooperation with each other. Upon a positive result from the review, a linked account is established for the multiple access device providers, and a common access device is issued for the linked account with a single or multiple account numbers. The access device user can take advantage of joint incentive and rewards programs for the linked account that join the incentive and rewards programs of the multiple access device providers, and that accumulate rewards separately for each provider.

Claims

1. A method of providing an access device, the method comprising:

receiving, at a qualification process center, contemporaneous approval guidelines for approving access device accounts under qualification processes established by at least two access device providers acting in cooperation with each other;

contemporaneously processing a completed multipurpose access device application under the qualification processes established by the at least two access device providers; and

upon a positive result of the processing of the completed multipurpose access device application under the qualification processes established by the at least two access device providers, establishing linked access device accounts for the at least two access device providers.

2. The method of claim 1, further comprising:

upon a positive result of the processing under the qualification process established by a first one of the at least two access device providers and a negative result of the processing under the qualification process established by a second one of the at least two access device providers, establishing an account for the first one of the at least two access device providers.

3. The method of claim 1, further comprising issuing a common access device for the linked accounts.

4. The method of claim 3, wherein the access device comprises a card.

5. The method of claim 3, further comprising:

establishing a joint incentive program for the common access device, and

linking the incentive programs of the at least two access device providers.

6. The method of claim 3, further comprising:

establishing a joint rewards program for the common access device, and

linking the rewards programs of the at least two access device providers.

7. The method of claim 5, wherein the access device is a credit card or a debit card.

8. The computer program product of claim 6, wherein the access device is a credit card or a debit card.

9. The method of claim 1, further comprising:

providing profit sharing for the at least two access device providers.

10. The method of claim 1, further comprising:

sharing data files among the at least two access device providers.

11. The method of claim 1, further comprising:

issuing a consolidated statement for the linked accounts.

12. The method of claim 1, wherein the linked accounts are established for an applicant or applicants.

13. The method of claim 1, wherein the approval guidelines include rejection guidelines.

14. The method of claim 1, wherein the qualification process center is a pull bureau.

15. The method of claim 1, wherein the contemporaneous processing is performed sequentially for each one of the qualification processes established by the at least two access device providers.

16. The method of claim 1, wherein the contemporaneous processing is performed in parallel for each one of the qualification processes established by the at least two access device providers.

17. A system for electronically facilitating issuing an access device, the system comprising:

means for receiving, at a qualification process center, contemporaneous approval guidelines for approving access device accounts under qualification processes established by at least two access device providers acting in cooperation with each other;

means for contemporaneously processing a completed multipurpose access device application under the qualification processes established by the at least two access device providers; and

means for establishing linked accounts for the at least two access device providers, upon a positive result of the processing of the completed multipurpose access device application under the qualification processes established by the at least two access device providers.

18. The system of claim 17, further comprising:

means for establishing an access device account for a first one of the at least two access device providers, upon a positive result of the processing under the qualification process established by the first one of the at least two access device providers and a negative result of the processing under the qualification process established by a second one of the at least two access device providers.

19. The system of claim 17, further comprising:

means for issuing a common access device for the linked accounts.

20. The system of claim 19, further comprising:

means for establishing a joint incentive program for the common access device; and

means for linking the incentive programs of the at least two access device providers.

21. The system of claim 20, wherein the access device is a credit card or a debit card.

22. The system of claim 19, further comprising:

means for establishing a joint rewards program for the common access device; and

means for linking the rewards programs of the at least two access device providers.

23. The computer program product of claim 22, wherein the access device is a credit card or a debit card.

24. The system of claim 17, wherein the qualification process center is a pull bureau.

25. The system of claim 17, wherein the means for contemporaneously processing perform the processing sequentially for each one of the qualification processes established by the at least two access device providers.

26. The system of claim 17, wherein the means for contemporaneously processing perform the processing in parallel for each one of the qualification processes established by the at least two access device providers.

27. A computer program product comprising a computer usable medium having control logic stored thereon for causing a computer to provide interactive assistance with performing issuing an access device, the control logic comprising:

first computer readable program code means for receiving, at a qualification process center, contemporaneous approval guidelines for approving access device accounts under qualification processes established by at least two access device providers acting in cooperation with each other;

second computer readable program code means for contemporaneously processing a completed multipurpose access device application under the qualification processes established by the at least two access device providers; and

third computer readable program code means for establishing linked accounts for the at least two access device providers, upon a positive result of the processing of the completed multipurpose access device application under the qualification processes established by the at least two access device providers.

28. The computer program product of claim 27, further comprising:

third computer readable program code means for establishing an account for a first one of the at least two access device providers, upon a positive result of the processing under the qualification process established by a first one of the at least two access device providers and a negative result of the processing under the qualification process established by a second one of the at least two access device providers.

29. The computer program product of claim 27, further comprising:

fourth computer readable program code means for issuing a common access device for the linked accounts.

30. The computer program product of claim 29, further comprising:

fifth computer readable program code means for establishing a joint incentive program for the common access device, and

sixth computer readable program code means for linking the incentive programs of the at least two access device providers.

31. The computer program product of claim 30, wherein the access device is a credit card or a debit card.

32. The computer program product of claim 29, further comprising:

fifth computer readable program code means for establishing a joint rewards program for the common access device, and

sixth computer readable program code means for linking the rewards programs of the at least two access device providers.

33. The computer program product of claim 32, wherein the access device is a credit card or a debit card.

34. A system for electronically facilitating issuing an access device, the system comprising:

a pull bureau for receiving contemporaneous approval guidelines for approving access device accounts under qualification processes established by at least two access device providers acting in cooperation with each other and for processing a completed multipurpose access device application under qualification processes established by at least two access device providers;

at least one repository for storing the completed multipurpose access device application and the qualification processes established by at least two access device providers; and

at least one processor for processing requests from a user for performing operations on the stored completed multipurpose access device application and the qualification processes established by at least two access device providers,

wherein the stored completed multipurpose access device application is contemporaneously compared against the qualification processes established by at least two access device providers.

35. The system of claim 34, wherein the processor is housed on a terminal.

36. The system of claim 35, wherein the terminal is selected from a group consisting of a personal computer, a minicomputer, a microcomputer, and a hand-held device.

37. The system of claim 34, wherein the processor is housed on a server.

38. The system of claim 37, wherein the server is selected from a group consisting of a personal computer, a minicomputer, a microcomputer, and a hand-held device.

39. The system of claim 38, wherein the server is coupled to a network.

40. The system of claim 39, wherein the requests are received via the network.

41. The system of claim 39, wherein the network is the Internet.

42. The system of claim 39, wherein the server is coupled to the network via a coupling.

43. The system of claim 42, wherein the coupling is selected from a group consisting of a wired connection, a wireless connection, and a fiberoptic connection.

44. The system of claim 34, wherein the contemporaneous comparison is performed sequentially for each one of the qualification processes established by the at least two access device providers.

45. The system of claim 34, wherein the contemporaneous comparison is performed in parallel for each one of the qualification processes established by the at least two access device providers.