Abstract:
A program vendor teams up with a credit card issuer who gives the program vendor a certain percentage of the sales made by a member card holder. The program vendor than appropriates a certain percentage of this amount and forwards it to the card holder for participating in the tuition incentive awards program.

Description:
BACKGROUND OF THE INVENTION  
         [0001]    1. Field of the Invention  
           [0002]    The present invention relates to a method of providing a tuition incentive awards program. More particularly, the present invention relates to a method of providing a credit card driven tuition incentive awards program.  
           [0003]    2. Description of the Prior Art  
           [0004]    Numerous innovations for incentive award systems have been provided in the prior art that will be described. Even though these innovations may be suitable for the specific individual purposes to which they address, however, they differ from the present invention.  
           [0005]    A FIRST EXAMPLE, U.S. Pat. No. 5,025,372 to Burton et al. teaches computer data processing, programming and printing for an improved incentive award program which allocates monetary amounts available for expenditure through credit instruments issued to program participants when the participants perform to a designated level of achievement. Participants identifying information and credit instrument account numbers are stored in memory. The incentive program can be divided into multiple time periods. Levels of performance are calculated and assigned for each participant in order for a monetary amount to be available for expenditure through the participant&#39;s credit instrument. Monetary amounts can be withheld from the amounts allocated to the instrument accounts. Adjustments can be made in the withheld amounts and in the achievement levels. Calculations, adjustment and reporting concerning amounts allocated for instrument use, withheld amounts, instrument transactions and account balances are made. Calculations and printed invoices for payment by a financial institution to an incentive company based on the credit instruments issued under the incentive program are made and are dependent upon the monetary volume of expenditures through the credit instruments, the total interest income on the credit instruments, and the number of instruments issued. The tradename or trademark of the company sponsoring the program can appear on the physical credit instruments and on statements provided to participants. Travel and merchandise awards are integrated with the credit instrument program.  
           [0006]    A SECOND EXAMPLE, U.S. Pat. No. 5,056,019 to Schultz et al. teaches a marketing method for providing manufacturer purchase reward offers by automatically tracking the purchases of member consumers through the use of bar coded membership cards and using the purchase records in a data processing system to determine if the required purchases have been made to earn a reward. Each member consumer receives a reward booklet disclosing the available reward offers, a periodic status report indicating the member consumer&#39;s progress toward earning rewards, and a reward certificate for those rewards earned.  
           [0007]    A THIRD EXAMPLE, U.S. Pat. No. 5,297,026 to Hoffman teaches a system and data processing arrangement for promoting purchases and account activity in a credit card account or other consumer transaction involving sales of goods or services rewards a customer for purchases by providing a high rate of return for funds invested by the customer. A financial institution, general purpose credit card agency, department store, automobile manufacturer, or various other marketers of goods or services agrees to grant the customer a high rate of interest on funds invested with the firm by the customer, provided the customer makes purchases. For purchases made by the customer in a given period (such as one month or six months), the firm gives the customer the right to invest a certain percentage (such as 10%) of the amount of purchases made by the customer in that period. Using automated data processing, the firm calculates the sum of the total purchases made by the customer during the preselected period. Then, funds are accepted from the customer up to the pre-agreed percentage of purchases, and provides a deposit account for the customer, crediting the investment funds in the deposit account. The firm may limit the term during which interest is paid on accepted funds invested for a particular such period, such as a term of six months or one year, or it may simply lower the interest rate at the end of that term.  
           [0008]    A FOURTH EXAMPLE, U.S. Pat. No. 5,983,196 to Wendkos teaches a computer implemented system awards promotional incentives. A participant in the awards system calls or connects to an interactive platform for registering and/or redeeming credits preferably described in uniquely identified certificates. In a telephone environment, the interactive platform is connected to a toll free telephone number where a participant&#39;s call is handled by a computer controlled voice response unit. In a computer network environment, a computer user connects to the interactive platform over the network. The participant receives awards credits based on the unique identification of certificates. Award credits for a participant are accumulated in a stored record associated with the participant until redeemed. Award credits can also be acquired as an instant winner based on a random or algorithmic selection of callers to receive such credits. Awards include electronic prizes such as free long distance telephone time, electronic cash and/or service credits. Connection to the interactive platform may occur during execution of an application program such as an electronic game or electronic shopping.  
           [0009]    A FIFTH EXAMPLE, U.S. Pat. No. 5,991,736 to Ferguson et al. teaches a patronage incentive system in which a monetary award is made to a customer&#39;s retirement account as incentive for the customer to participate in a transaction with the sponsor for the sponsor&#39;s goods or services. The system includes a means for identifying the customer, a means for inputing the identification information and other information about the transaction into a computer data storage, a computer data processing device which uses a software program along with the transactional information to calculate an incentive award amount a means for transferring the monetary funds equal to the incentive award amount from an incentive award pool to the customer&#39;s retirement account, and a means of reporting the incentive award amount to the customer and to the sponsor. Embodiments of a method of conducting a patronage incentive system of the present invention are also disclosed comprising the steps of inputing transactional information into a computer data storage device, calculating the incentive award amount through the use of a computer data processing device, transferring monetary funds equal to the incentive award amount from an incentive award pool to the customer&#39;s retirement account, and reporting the incentive award amount to the customer and to the sponsor.  
           [0010]    It is apparent that numerous innovations for incentive award systems have been provided in the prior art that are adapted to be used. Furthermore, even though these innovations may be suitable for the specific individual purposes to which they address, however, they would not be suitable for the purposes of the present invention as heretofore described.  
         SUMMARY OF THE INVENTION  
         [0011]    ACCORDINGLY, AN OBJECT of the present invention is to provide a method of providing a credit card driven tuition incentive awards program that avoids the disadvantages of the prior art.  
           [0012]    ANOTHER OBJECT of the present invention is to provide a method of providing a credit card driven tuition incentive awards program that is simple and inexpensive to manufacture.  
           [0013]    STILL ANOTHER OBJECT of the present invention is to provide a method of providing a credit card driven tuition incentive awards program that is simple to use.  
           [0014]    BRIEFLY STATED, YET ANOTHER OBJECT of the present invention is to provide a method of providing a credit card driven tuition incentive awards program wherein a program vendor teams up with a credit card issuer who gives the program vendor a certain percentage of the sales made by a member card holder. The program vendor than appropriates a certain percentage of this amount and forwards it to the card holder for participating in the tuition incentive awards program.  
           [0015]    The novel features which are considered characteristic of the present invention are set forth in the appended claims. The invention itself, however, both as to its construction and its method of operation, together with additional objects and advantages thereof, will be best understood from the following description of the specific embodiments when read and understood in connection with the accompanying drawing.  
       
    
    
     BRIEF DESCRIPTION OF THE DRAWING  
       [0016]    The figures of the drawing are briefly described as follows:  
         [0017]    FIGS.  1 A- 1 UU are a flow chart of the present invention.  
     
    
       [0018]    [0018]                                         LIST OF REFERENCE NUMERALS UTILIZED IN THE DRAWING                                10   credit card driven tuition incentive awards program of present           invention       12   agreement between credit card issuer 14 and program vendor 16       14   credit card issuer       16   program vendor       18   percentage of credit card sales       20   predetermined period       22   FDIC insured bank accounts       24   set interest collecting on FDIC insured bank accounts 22       26   cost of operations of program vendor 16       28   potential credit card holder       30   credit card       32   credit card holder       34   annual fee for credit card holder to participate in credit card           driven tuition incentive awards program 10       36   account of credit card holder 32       38   balance of account 36 of credit card holder 32       40   account balance of account 36 of credit card holder 32       42   amount       43   amount charged on credit card 30       44   certain percentage 44 of amount charged 42 on credit card 30       46   points       48   points accumulated       50   telephone       52   Internet       54   predetermined amount of points accumulated 48       56   dollars       58   dollar amount       60   check in dollar amount 58       62   student       64   name of student 62       66   school attended by student 62       68   tuition of school 66 attended by student 62       70   problem getting check 60 to school 66       72   distinct code number of each school 62       74   confirmation       76   mail confirmation       78   e-mail confirmation       80   call       82   automated telephone call       84   Internet call                    
       DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENT  
       [0019]    Referring now to FIGS.  1 A- 1 UU, the method of providing a credit card driven tuition incentive awards program of the present invention is shown generally at  10  and comprises the following steps.  
         [0020]    STEP  1 : Pay out, by a credit card issuer  14 , as per an agreement  12  between the credit card issuer  14  and a program vendor  16 , a percentage of credit card sales  18  at a predetermined period  20 , to the program vender  16 , wherein the predetermined period  20  is one of monthly and quarterly.  
         [0021]    STEP  2 : Place, by at least one of the credit card issuer  14  and the program vendor  16 , the percentage of credit card sales  18  in insured bank accounts  22  collecting set interest  24 .  
         [0022]    STEP  3 : Keep optionally, by the at least one of the program vendor  16  and the credit card issuer  14 , the set interest  24  for cost of operations  26 .  
         [0023]    STEP  4 : Apply, by a potential credit card holder  28 , for a credit card  30 , to the credit card issuer  14 .  
         [0024]    STEP  5 : Determine, by the credit card issuer  14 , if the potential credit card holder  28  qualifies for the credit card  30 .  
         [0025]    STEP  6 : Abort, if answer to STEP  5  is no.  
         [0026]    STEP  7 : Issue, by the credit card issuer  14 , the credit card  30 , to the potential credit card holder  28  so as to form a credit card holder  32 , if answer to STEP  5  is yes, and as a result thereof, the credit card holder  32  automatically is approved for the credit card driven tuition incentive award program  10 , by virtue of affiliation of the credit card driven tuition incentive award program  10  and the credit card issuer  14  with each other.  
         [0027]    STEP  8 : Pay, by the credit card holder  32 , an annual fee  34 , to at least one of the credit card issuer  14  and the program vendor  16  so as to form an account  36  with a balance  38  so as to form an account balance  40 , if STEP  7  is carried out, wherein the annual fee  34  is predetermined.  
         [0028]    STEP  9 : Charge, by the credit card holder  32 , an amount  42  on the credit card  30  so as to form an amount charged  43 , if STEP  8  is carried out.  
         [0029]    STEP  10 : Accumulate, by the at least one of the program vendor  16  and the credit card issuer  14 , a certain percentage  44  of the amount charged  42  on the credit card  30 , by the credit card holder  32 , if STEP  9  is carried out.  
         [0030]    STEP  11 : Convert, by the at least one of the program vendor  16  and the credit card issuer  14 , the certain percentage  44  to points  46  so as to form points accumulated  48 , if STEP  10  is carried out.  
         [0031]    STEP  12 : Check, by the credit card holder  32 , the account balance  40 , by one of telephone  50  and Internet  52 , if STEP  11  is carried out.  
         [0032]    STEP  13 : Determine, by the credit card holder  32 , if the points accumulated  48  are to be redeemed when the points accumulated  48  reach a predetermined amount  54 .  
         [0033]    STEP  14 : Determine if the points accumulated  48  has reached the predetermined amount  54 , if answer to STEP  13  is yes.  
         [0034]    STEP  15 : Return to STEP 9, if answer to STEP  14  is no.  
         [0035]    STEP  16 : Convert, by the at least one of the program vendor  16  and the credit card issuer  14 , the points accumulated  48  to dollars  56  so as to form a dollar amount  58 , if answer to STEP  14  is yes.  
         [0036]    STEP  17 : Issue, by the at least one of the program vendor  16  and the credit card issuer  14 , a check  60  in the dollar amount  58 , if STEP  16  is carried out.  
         [0037]    STEP  18 : Determine if the credit card holder  32  is not a student  62  who has a name  64  and who attends a school  66  with a tuition  68 , if STEP  17  is carried out.  
         [0038]    STEP  19 : Proceed to STEP  21 , if answer to STEP  18  is no.  
         [0039]    STEP  20 : Put, by the at least one of the program vendor  16  and the credit card issuer  14 , the name  64  of the student  62  on the check  60 , if answer to STEP  18  is yes.  
         [0040]    STEP  21 : Determine if there is a problem  70  getting the check  60  to the school  66 .  
         [0041]    STEP  22 : Send, by the at least one of the program vendor  16  and the credit card issuer  14 , the check  60  directly to the credit card holder  32 , if answer to STEP  21  is yes.  
         [0042]    STEP  23 : Forward, by the credit card holder  32 , the check  60  to the school  66 , if STEP  22  is carried out.  
         [0043]    STEP  24 : Send, by the at least one of the program vendor  16  and the credit card issuer  14 , the check  60  directly to the school  66 , wherein each school  66  receives a distinct code number  72 , if the answer to STEP  21  is no.  
         [0044]    STEP  25 : Confirm, by the at least one of the program vendor  16  and the credit card issuer  14 , to the credit card holder  32 , that the check  60  has been sent out so as to form a confirmation  74 , wherein the confirmation  74  is by one of mail  76 , e-mail  78 , and the telephone  50 , if STEP  24  is carried out.  
         [0045]    STEP  26 : Credit, by the school  66 , the check  60  towards the tuition  68  of the student  62 .  
         [0046]    STEP  27 : Call, by the credit card holder  32 , the at least one of the program vendor  16  and the credit card issuer  14  so as to form a call  80 , wherein the call  80  is by one of automated telephone  82  and the Internet  84 , if answer to STEP  13  is no.  
         [0047]    STEP  28 : Determine if the call  80  is made within a predetermined time, if STEP  27  is carried out.  
         [0048]    STEP  29 : Request, by the credit card holder  32 , redemption of the points accumulated  48 , from the at least one of the program vendor  16  and the credit card issuer  14 , if answer to STEP  28  is yes.  
         [0049]    STEP  30 : Return to STEP  24 , if STEP  29  is carried out.  
         [0050]    STEP  31 : Forfeit automatically, the points accumulated  48 , to the at least one of the program vendor  16  and the credit card issuer  14 , if answer to STEP  28  is no.  
         [0051]    It will be understood that each of the elements described above, or two or more together, may also find a useful application in other types of constructions differing from the types described above.  
         [0052]    While the invention has been illustrated and described as embodied in a method of providing a credit card driven tuition incentive awards program, however, it is not limited to the details shown, since it will be understood that various omissions, modifications, substitutions and changes in the forms and details of the device illustrated and its operation can be made by those skilled in the art without departing in any way from the spirit of the present invention.  
         [0053]    Without further analysis, the foregoing will so fully reveal the gist of the present invention that others can, by applying current knowledge, readily adapt it for various applications without omitting features that, from the standpoint of prior art, fairly constitute characteristics of the generic or specific aspects of this invention.