System and method for granting promotional rewards to credit account holders

• US 9,990,642 B2
• Filed: 09/01/2010
• Issued: 06/05/2018
• Est. Priority Date: 10/11/2002
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Strock, Bradley R., Hooper, Lynn, Glavin, Eugene M., Bressler, Beth L.
• Primary Examiner(s): Stoltenberg, David J
• Application Number:
  US12/873,411
• Publication Number:
  US 20110022448A1
• Time in Patent Office: 2,834 Days
• Field of Search: 705 141
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0213 Consumer transaction fees
• CPC Class Codes: G06Q 30/0216 Investment accounts
• CPC Class Codes: G06Q 30/0231 Awarding of a frequent usage incentive independent of the monetary value of a good or service purchased, or distance travelled
• CPC Class Codes: G06Q 30/0232 Frequent usage rewards other than merchandise, cash or travel
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0236 Incentive or reward received by requiring registration or ID from user
• CPC Class Codes: G06Q 30/0241 Advertisements

Abstract

A system and method for providing promotional rewards is provided. First, a promotional reward is communicated to a customer. The promotional reward offer comprises a promotional reward associated with one or more promotional reward-earning behaviors and a promotional time frame. The offer may specify a customer population, and the customer may be enrolled in the promotional reward program if the customer is determined to be in the population. The customer is credited a promotional reward if the customer accomplishes the promotional reward-earning behavior(s) within the promotional time frame. The customer may also be enrolled in a base reward program. The promotional rewards and base rewards may be accumulated in a customer account. A system for implementing a promotional rewards program is also provided.

Claims

1. A method for identifying and offering reward programs, comprising:

at least one computer processor identifying a first reward program that a customer is enrolled in, the first reward program having a first account and associated with a first reward offer;

receiving, from the customer, authorization to product switch from the first reward program to a second reward program, the second reward program having a second account;

the at least one computer processor establishing one or more conversion rules for transferring the customer'"'"'s rewards in the first account to rewards in the second account, wherein the one or more currency conversion rules comprises one or more specified reward program transfer pairs indicating an allowable conversion of rewards from the first reward program to the second reward program;

the at least one computer processor converting rewards in the first account rewards in the second account based on a conversion rate and in real-time, wherein the conversion rate comprises a universal unit to facilitate conversion of the rewards from the first account to the second account;

the at least one computer processor depositing the converted rewards to the second account;

the at least one computer processor automatically terminating the customer enrollment in the first reward program once the converted rewards are deposited the second account; and

the at least one computer processor transferring the first reward offer to the second reward program.

2. The method of claim 1 wherein the rewards comprise redeemable points.

3. The method of claim 1 wherein the rewards comprise cash value.

4. The method of claim 1 wherein the rewards are issuer-specific or sponsor-specific.

5. The method of claim 1 wherein identifying a first reward program that the customer is enrolled in comprises receiving account information associated with the first reward program from the customer.

6. The method of claim 1 wherein the first reward program is associated with a financial account.

7. The method of claim 1 wherein the first account is associated with a financial institution.

8. The method of claim 1, wherein the second reward program comprises a plurality of reward programs.

18. The method of claim 1, wherein the first reward program is associated with a first credit card association, and the second reward program is associated with a second credit card association.

9. A system for identifying and offering reward programs, comprising:

at least one server, comprising at least one computer processor, communicatively coupled to a network;

the at least one server configured to;

identify a first reward program that a customer is enrolled in, the first reward program having a first account and associated with a first reward offer;

receive authorization to product switch from the first reward program to a second reward program, the second reward program having a second account;

establish one or more conversion rules for transferring the customer'"'"'s rewards in the first account to the second account, wherein the one or more currency conversion rules comprises one or more specified reward program transfer pairs indicating an allowable conversion of rewards from the reward program to the second reward program;

convert rewards in the first account to rewards in the second account based on a conversion rate and in real-time, wherein the conversion rate comprises a universal unit to facilitate conversion of the rewards associated with the first reward program to rewards from the first account to the second account;

deposit the converted rewards to the second account;

automatically terminate the customer enrollment in the first reward program once the converted rewards are deposited the second account; and

transfer the first reward offer to the second reward program.

10. The system of claim 9 wherein the rewards comprise redeemable points.

11. The system of claim 9 wherein the rewards comprise cash value.

12. The system of claim 9 wherein the rewards are issuer-specific or sponsor-specific.

13. The system of claim 12 wherein the issuer-specific or sponsor-specific exchange entity comprises any redeemable value.

14. The system of claim 9 wherein the identification of the first reward program is provided by the customer.

15. The system of claim 9 wherein the first reward program is associated with a financial account.

16. The system of claim 9 wherein the first account is associated with a financial institution.

17. The system of claim 9, wherein the second reward program comprises a plurality of reward programs.

19. The system of claim 9, wherein the first reward program is associated with a first credit card association, and the second reward program is associated with a second credit card association.