System and method for establishing or modifying an account with user selectable terms
First Claim
1. A method of administering an account with a financial institution for an account holder, wherein the account holder can execute purchase transactions using the account, the method comprising the steps of:
- establishing, by the financial institution, the account for the account holder;
associating a first affiliate with the account;
associating a second affiliate with the account;
calculating, using a programmed computer, rewards information associated with the first affiliate based on use of the account for monetary purchase transactions, wherein the rewards information reflects at least one reward provided to the account holder in response to the use of the account for the monetary purchase transactions; and
calculating, using a programmed computer, a monetary compensation to be provided by the financial institution to the second affiliate based on use of the account for monetary purchase transactions.
3 Assignments
0 Petitions
Accused Products
Abstract
Techniques for administering an account with a financial institution are disclosed. The financial institution may establish the account for the account holder. An account holder may execute purchase transactions using the account. A first and second affiliate may be associated with the account. Rewards information associated with the first affiliate may be calculated based on use of the account for purchase transactions. A compensation, to be provided by the financial institution to the second affiliate, may be calculated based on use of the account for purchase transactions.
564 Citations
31 Claims
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1. A method of administering an account with a financial institution for an account holder, wherein the account holder can execute purchase transactions using the account, the method comprising the steps of:
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establishing, by the financial institution, the account for the account holder; associating a first affiliate with the account; associating a second affiliate with the account; calculating, using a programmed computer, rewards information associated with the first affiliate based on use of the account for monetary purchase transactions, wherein the rewards information reflects at least one reward provided to the account holder in response to the use of the account for the monetary purchase transactions; and calculating, using a programmed computer, a monetary compensation to be provided by the financial institution to the second affiliate based on use of the account for monetary purchase transactions. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A system for administering an account with a financial institution of an account holder comprising:
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a memory that stores information relating to the account holder, a first affiliate affiliated with the account, and a second affiliate affiliated with the account; and a processor that is programmed to; calculate rewards information associated with the first affiliate based on use of the account by the cardholder for monetary purchase transactions, wherein the rewards information reflects at least one reward provided to the account holder as a result of the use of the account for the monetary purchase transactions; and calculate a monetary compensation to be provided by the financial institution to the second affiliate based on use of the account by the cardholder for monetary purchase transactions. - View Dependent Claims (10, 11, 12, 13, 14, 15)
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16. A method of administering an account for an account holder, wherein the account holder can execute purchase transactions using the account, the method comprising the steps of:
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establishing the account for the account holder; associating a first affiliate with the account; associating a second affiliate with the account; calculating, using a programmed computer, rewards information associated with the first affiliate based on use of the account for monetary purchase transactions, wherein the rewards information reflects at least one reward provided to the account holder as a result of the use of the account for the monetary purchase transactions; and sending to the account holder an itemized fee for each affiliate that the account holder pays to an administrator of the account. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24)
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25. A method comprising the steps of:
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establishing an account for an account holder; providing an account access device to the account holder; receiving data on monetary purchase transactions made by the account holder using the account access device; calculating, using a programmed computer, a number of universal points to award to the account holder based on the monetary purchase transaction data; awarding the number of universal points to the account holder; receiving a request from the account holder to convert at least a portion of the universal points to affiliate points associated with an affiliate of the account; and converting said at least a portion of the universal points to the affiliate points. - View Dependent Claims (26, 27, 28, 29, 30)
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31. A method of administering a credit card account with a financial institution for an account holder, the method comprising:
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establishing, by the financial institution, the credit card account for the account holder; affiliating a first entity with the account, wherein the first entity is an airline, a merchant or a hotel; allocating, using programmed computer, by the financial institution, and as a consequence of the account holder using the credit card for a monetary purchase transaction with a third party, rewards points to the credit card account, wherein the account holder may redeem the rewards points with the first entity for goods or services; affiliating a second entity with the account, wherein the second entity is a university, a college, a professional organization, a charitable organization, or an environmental organization; and providing, by the financial institution to the second entity, monetary compensation as a consequence of the account holder using the credit card for a monetary purchase transaction with a third party.
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Specification