Source: http://www.google.com/patents/US7597255?dq=5987118
Timestamp: 2014-07-29 05:15:20
Document Index: 585250192

Matched Legal Cases: ['arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405', 'arty 405']

Patent US7597255 - System and method for redeeming rewards and incentives - Google PatentsSearch Images Maps Play YouTube News Gmail Drive More »Sign in<nobr>Advanced Patent Search</nobr>PatentsA transaction card, including a substrate having a front face and a back face, a first magnetic stripe for storing data associated with a credit account, the first magnetic stripe being located along an edge of the back face, a second magnetic stripe for storing data associated with a rewards account,...http://www.google.com/patents/US7597255?utm_source=gb-gplus-sharePatent US7597255 - System and method for redeeming rewards and incentivesAdvanced Patent SearchPublication numberUS7597255 B2Publication typeGrantApplication numberUS 11/239,724Publication dateOct 6, 2009Filing dateSep 29, 2005Priority dateDec 18, 2003Fee statusPaidAlso published asUS7090138, US7370811, US20050133590, US20060027647, US20060249575, WO2005062239A1Publication number11239724, 239724, US 7597255 B2, US 7597255B2, US-B2-7597255, US7597255 B2, US7597255B2InventorsMichele Shiber Deane, Clyde Samuel Edmonds, Jr., Charles Aaron RosenblattOriginal AssigneeCapital One Financial CorporationExport CitationBiBTeX, EndNote, RefManPatent Citations (100), Non-Patent Citations (7), Referenced by (4), Classifications (27), Legal Events (2) External Links: USPTO, USPTO Assignment, EspacenetSystem and method for redeeming rewards and incentivesUS 7597255 B2Abstract A transaction card, including a substrate having a front face and a back face, a first magnetic stripe for storing data associated with a credit account, the first magnetic stripe being located along an edge of the back face, a second magnetic stripe for storing data associated with a rewards account, the second magnetic stripe being located along another edge of the back face, and account information located on the front face, the account information being associated with the credit account and the rewards account.
1. A method for processing a transaction initiated by an individual with a merchant using a transaction card having at least two magnetic stripes, the method comprising:
receiving information associated with the transaction, the information including account information and transaction information including a purchase amount;
determining according to the received information whether a first magnetic stripe or a second magnetic stripe was read at the merchant, the first magnetic stripe being associated with a financial account and the second magnetic stripe being associated with a rewards account;
converting the purchase amount to an amount of reward units, when it is determined that the second magnetic stripe was read at the merchant;
determining whether the rewards account has a balance of reward units at least equal to the amount of converted reward units;
2. The method of claim 1, wherein the financial account is one of a credit account, a savings account, a checking account, a mortgage account, a brokerage account, a stored value account, a medical account, a transportation account, an academic account, or a home equity line of credit account.
3. The method of claim 1, wherein the account information includes personal identification number information.
4. The method of claim 3, further comprising: comparing the received personal identification number information with stored personal identification information; and preventing the authorizing of the transaction when the received personal identification number information does not match the stored personal identification information.
5. The method of claim 1, wherein the rewards account is a first rewards account and the financial account is a first financial account, and further comprising: increasing the balance of the first rewards account when the balance of the first rewards account is less than a predetermined quantity.
6. The method of claim 5, wherein a balance of the first financial account is reduced by a quantity corresponding to a value of the increase in the balance of the first rewards account.
7. The method of claim 5, wherein a balance of a second financial account is reduced by a quantity corresponding to a value of the increase in the balance of the first rewards account.
8. The method of claim 5, wherein a balance of a second rewards account is reduced by a quantity corresponding to a value of the increase in the balance of the first rewards account.
9. The method of claim 5, wherein the balance of the first rewards account is increased by a predetermined amount.
10. The method of claim 5, wherein the balance of the first rewards account is increased by a predetermined percentage of the balance of the first rewards account.
11. The method of claim 5, wherein the balance of the first rewards account is increased by a predetermined percentage of the balance of the first financial account.
12. The method of claim 1, wherein at least one of the transaction information or the account information is received via an automated clearing house network.
13. The method of claim 1, wherein the rewards account is a first rewards account, and further comprising: associating the second magnetic stripe with a second rewards account.
14. The method of claim 13, further comprising disassociating the second magnetic stripe from the first rewards account.
15. The method of claim 1, wherein the second magnetic stripe may be one of activated or deactivated.
16. The method of claim 15, wherein the activation or deactivation is performed in association with a request from the individual; and the request from the individual includes one of a telephonic communication, a postal mail communication, an email communication, a communication performed through an interface to an electronic communication network, or a communication via a credit/debit network.
17. The method of claim 15, wherein activation of the second magnetic stripe includes activation of the first magnetic stripe; and deactivation of the second magnetic stripe includes deactivation of the first magnetic stripe.
18. The method of claim 16, wherein the transaction card is a first transaction card; activation of the second magnetic stripe of the first transaction card includes activation of a second magnetic stripe of a second transaction card associated with the rewards account; and deactivation of the second magnetic stripe of the first transaction card includes deactivation of the second magnetic stripe of the second transaction card associated with the rewards account.
19. The method of claim 1, further comprising: providing a transaction statement to the individual, wherein the transaction statement includes at least the received transaction information, the received account information, information associated with a balance of the financial account, and information associated with the balance of the rewards account.
20. The method of claim 1, wherein the rewards account is associated with an overdraft account, and further comprising: decreasing a balance of the overdraft account by deducting a quantity associated with an overdraft percentage when it is determined that the rewards account does not have a balance of reward units at least equal to the amount of converted reward units.
21. The method of claim 20, wherein the overdraft percentage is determined by the individual.
22. The method of claim 20, wherein the quantity associated with the overdraft percentage deducted from the overdraft account is used to fund the transaction.
23. The method of claim 20, wherein the quantity associated with the overdraft percentage deducted from the overdraft account is used to purchase additional reward units; and the additional purchased reward units are deposited into the rewards account.
REFERENCE TO CROSS-RELATED APPLICATIONS This is a continuation-in-part application of U.S. patent application Ser. No. 10/740,707, filed Dec. 18, 2003 now U.S. Pat. No. 7,090,138.
BACKGROUND Numerous financial institutions, such as credit card companies and banks, and other entities, such as airline carriers, hotels and retailers, offer membership reward programs. These programs often reward participants with reward units, such as reward points or the like, when purchasing merchandise or services from merchants using a qualified account, such as a debit or credit account. A participant may use a transaction card associated with the qualified account to conduct the respective transaction. Reward units typically accrue at a rate of one unit for every dollar spent using the credit or debit account and the accrued units operate as currency. Some entities restrict purchasing to particular merchants to earn reward units, whereas other financial institutions have no such restrictions. Additionally, reward units usually do not accumulate on cash advances, convenience checks, balance transfers, fees or adjustments. When merchandise purchased with the respective account is returned, the account credit will result in a reduction of reward units.
SUMMARY An aspect of the present application provides for a method for processing a transaction initiated by an individual with a merchant using a transaction card having at least two magnetic stripes, the method comprising receiving information associated with the transaction, the information including account information and transaction information including a purchase amount, determining according to the received information whether a first magnetic stripe or a second magnetic stripe was read at the merchant, the first magnetic stripe being associated with a financial account and the second magnetic stripe being associated with a rewards account, converting the purchase amount to an amount of reward units, when it is determined that the second magnetic stripe was read at the merchant, determining whether the rewards account has a balance of reward units at least equal to the amount of converted reward units, authorizing the transaction if the balance of the rewards account is at least equal to the amount of converted reward units, and decreasing the balance of the rewards account by at least the amount of converted reward units.
BRIEF DESCRIPTION OF THE DRAWINGS The present application can be more fully understood by reading the following detailed description of the presently preferred embodiments together with the accompanying drawings, in which like reference indicators are used to designate like elements, and in which:
The present application is applicable to any institution or company having a membership reward program associated therewith, including financial institutions, airlines, supermarkets, hotels, car rental companies, retail stores, Internet loyalty programs, loyalty providers, such as Carlson Companies, Inc. and Cendant Corporation, and Visa� and MasterCard� that offer rewards, incentives or the like. In an exemplary embodiment of the present application, the membership reward program is managed directly by the institution or company, for instance, financial institution 315, as seen in FIG. 3. Alternatively, the membership reward program is managed by a third party, for instance, third party 405 associated with financial institution 315, as depicted in FIG. 4. Financial institution 315 may or may not in a partnership with third party 405 and/or other party. For instance, in the event financial institution 315 has a partnership relationship with third party 405 and/or other party, the relationship may involve a co-branding.
Commencement of participation and/or maintenance of an active status in the membership reward program of the present application may require an initialization and/or activation procedure to be performed by the cardholder 145. Additionally, participation in the reward program may be terminated through utilization of a deactivation procedure by the cardholder 145. The activation and/or deactivation of the reward program may relate, for example, to the membership reward program managed by the financial institution 315 or to the membership reward program managed by the third party 405.
In an exemplary embodiment, for example, the activation and/or deactivation procedure may be performed by telephonic communication with a representative, by electronic email, by utilization of an interface located on an electronic communication network such as the Internet, via postal mail, and the like. Additionally, the activation and/or deactivation procedure may be performed via the credit/debit network 135. The activation and/or deactivation procedure may relate to accounts associated with one or both of the conventional magnetic stripe 215 and the reward magnetic stripe 220, described in greater detail below. Additionally, the activation and/or deactivation procedure may relate to accounts associated with financial institution 315 and/or third party 405.
The activation and/or deactivation procedures may be applicable to one or more of financial account 305, rewards account 310, and rewards account 410. In an exemplary embodiment, an activation or deactivation procedure performed with respect to financial account 305 may automatically be performed for corresponding rewards accounts, for instance, rewards account 310 or rewards account 410. Likewise, an activation or deactivation procedure performed with respect to rewards account 310 or rewards account 410 may automatically be performed for financial account 305. The activation and/or deactivation procedures may be performed any number of times, allowing the cardholder 145 to effectively activate and/or deactivate one or more of financial account 305, rewards account 310, and rewards account 410 when desired.
In an exemplary embodiment, multiple transaction cards 150 may be associated with a single set of financial and/or reward accounts, for example, financial account 305, reward account 310, and/or reward account 410. Accordingly, the activation and/or deactivation procedure may be performed with respect to one or more of the plurality of transaction cards 150. For instance, a number of individuals may have transaction cards 150 associated with a common set of accounts, and any of the transaction cards 150 and/or either of the conventional magnetic stripe 215 and the reward magnetic stripe 220 may be activated or deactivated individually. As with respect to the financial account 305, rewards account 310, and rewards account 410, the activation and/or deactivation procedures relating to the any of the transaction cards 150 and/or either of the conventional magnetic stripe 215 and the reward magnetic stripe 220 may be performed any number of times, allowing the cardholder 145 to activate and/or deactivate any of the transaction cards and/or the magnetic stripes when desired.
The processing of transactions and prospective transactions may be performed using an electronic funds transfer system such as the Automated Clearing House Network (�ACH�), and ACH transfers may be used to transfer funds to or from accounts and may be incorporated within the credit/debit network 135 or may be independent of credit/debit network 135. The present application is not limited to using an ACH network and/or a credit/debit network to transfer funds to or from accounts. Rather, funds can be transferred to or from accounts in any manner. Exemplary communication links for transferring funds to or from accounts include wiring, electronic funds transfer, ATM networks, Visa�, MasterCard�, Plus, Novus, Diner's Club�, American Express�, and the like.
Exemplary transaction card 150 is depicted in more detail in FIG. 2. Transaction card 150 includes front face 205 and back face 210. Transaction card 150 is a conventional transaction card except transaction card 150 includes conventional magnetic stripe 215 and an additional magnetic stripe�reward magnetic stripe 220 on back face 210. Reward magnetic stripe 220 is located along the bottom, horizontal side edge of transaction card 150, as can be seen in FIG. 2. Alternatively, the location of conventional magnetic stripe 215 and reward magnetic stripe 220 can be reversed from what is illustrated in FIG. 2. Reward magnetic stripe 220 may also be located along either a vertical or horizontal edge of front face 205 or along a vertical edge of back face 210. The present application is not limited to any particular orientation and location of conventional magnetic stripe 215 and reward magnetic stripe 220.
Transaction card 150 also includes indicia 230 on front face 205, indicia 230 being, for example, an account number, an expiration date and the name of cardholder 145. Besides conventional magnetic stripe 215 and reward magnetic stripe 220, back face 210 includes signature box 225. Front face 205 and rear face 210 can include various other information in addition to or in place of indicia 230 and signature box 225. In an alternative embodiment of the present application, front face 205 includes another set of indicia such that indicia 230 corresponds to financial account 305 and the other set of indicia corresponds to rewards account 310,410, or vice versa. The present application is not limited to any particular orientation or location of indicia associated with either conventional magnetic stripe 215 or reward magnetic stripe 220.
FIG. 3 illustrates exemplary accounts accessible when using conventional magnetic stripe 215 and reward magnetic stripe 220. For instance, conventional magnetic stripe 215 is operable for accessing financial account 305 managed by financial institution 315. As described herein, financial account 305 can be a credit account, a debit account such as a checking account, savings account, a money market account or the like, a college fund account, a stored value account, or the like. For instance, financial account 305 may include one of a mortgage account, a brokerage account, a medical account, a transportation account, or a home equity line of credit account.
Reward magnetic stripe 220 is operable for accessing rewards account 310 also managed by financial institution 315. In an exemplary embodiment, rewards account 310 has a balance equal to a number of accumulated reward units, for example, points.
The one or more accounts associated with the respective magnetic stripes may be changed at any time. In an exemplary embodiment, for instance, the financial account 305 associated with conventional magnetic stripe 215 may be substituted for another financial account managed by financial institution 315 or by another entity. Likewise, rewards account 310 and/or rewards account 410 associated with reward magnetic stripe 220 may be substituted for another rewards account managed by financial institution 315, third party 405, or another entity. The substitution of the financial account 305, rewards account 310, and/or rewards account 410 may be performed via the credit/debit network 135, or via an ACH network, an electronic funds transfer network, an ATM network, a Visa� network, a MasterCard� network, a Plus network, a Novus network, a Diner's Club� network, an American Express� network, and the like. The substitution of the financial account 305, rewards account 310, and/or rewards account 410 may additionally be performed via telephonic communication with a representative, via electronic mail, via an electronic interface located on a communications network such as the Internet, by postal mail, and the like. The substitution may be temporary or may be for an indefinite period of time, and may be performed prior to or subsequent to performance of the transaction.
Additionally, performance of the processing may include entry of at least one personal identification number (�PIN�). The at least one PIN may include any quantity and/or combination of numeric or alphanumeric characters, and may be selected by the individual at a time prior to the transaction. The PIN may be associated with one or both of reward magnetic stripe 220 or conventional magnetic stripe 215. In an exemplary embodiment, the cardholder 145 may be prompted to enter a PIN at the time of presentation of the transaction card 150, and entry of the PIN may be performed via the POS. Prompting the cardholder 145 for entry of the at least one PIN may occur before or after reading of the transaction card 150 by the POS. The at least one PIN entered may be processed by the POS to compare it with, for example, information contained in the data fields of the tracks stored in the reward magnetic stripe 220 and/or the conventional magnetic stripe 215. Alternatively, the at least one PIN entered may be transmitted to and processed by financial institution 315 and/or third party 405, and compared to stored PIN information. Entry of the at least one PIN may be required to allow performance of the transaction, and the PIN may be required for utilization of one or both of the reward magnetic stripe 220 or the conventional magnetic stripe 215. For example, requesting cardholder 145 to enter a PIN when reward magnetic stripe 220 may prevent the associated account from being accessed fraudulently or inadvertently.
Next, processing unit 125 retrieves data stored in memory unit 130 indicating the balance of rewards account 310, 410. Processing unit 125 then determines whether the balance of rewards account 310, 410 is equal to or greater than the amount of points representing the converted purchase amount, in 530. If it is determined that the balance is equal to or greater than the converted purchase amount, then processing unit 125 transmits data to processing unit 115 indicating transaction authorization and processing unit 115 in turn transmits data indicating transaction authorization to the respective one of the plurality of merchants 140 a . . . 140 n, in 535. Processing unit 115 and/or processing unit 125 then adjusts the balance of reward account 310, 410 to reflect the converted amount which data is stored in memory unit 130, in 540. For example, the balance of reward account 310, 410 is decreased by an amount equal to the amount of points representing the purchase amount.
Overdraft protection may also be included in the reward system of the present application. For example, in an exemplary embodiment, processing unit 115 and/or processing unit 125 may subtract the converted purchase amount from the balance of the reward account 310 or the reward account 410. When processing unit 115 and/or processing unit 125 determines that the balance of reward account 310 and/or reward account 410 is less than the converted purchase amount, then processing unit 115 and/or processing unit 125 determines whether one or more associated accounts are eligible for overdraft at 545. The one or more other associated accounts may include financial account 305, and may be associated with reward account 310 and/or reward account 410. The one or more associated accounts may be selected by the cardholder 145, and may be accessed in accordance with a set of predetermined logic to fund transactions and/or to adjust account balances.
In an exemplary embodiment, for example, the determination of overdraft eligibility may include determining whether the financial account 305 and/or reward account 310 or reward account 410 have been designated as overdraft funding source accounts by the cardholder 145, the financial institution 315, or the third party 405, at 545. When it is determined that financial account 305 and/or reward account 310 or reward account 410 have been designated as overdraft funding source accounts, an overdraft percentage may be determined at 550.
The overdraft percentage may be defined and/or adjusted at any time by the cardholder 145, the financial institution 315, or the third party 405, and may be a percentage of a balance of the respective account that may be accessed to fund the transaction. Alternatively, the financial institution 315 or the third party 405 may adjust the overdraft percentage, for example based upon transaction activity of the cardholder, a date of the transaction, a credit rating and/or FICO score associated with the cardholder 145, quantities of account balances associated with the cardholder 145, and the like. The overdraft percentage may be defined, for example, as a portion of the respective account expressed as a percentage of the account balance, and may include reward units or a cash value associated with reward units. Alternatively, the overdraft percentage may be defined as a predetermined quantity of cash and/or credit, a predetermined quantity of reward points, and/or a quantity of reward points equivalent to a predetermined cash value.
In an exemplary embodiment, for instance, the cardholder 145 may define the overdraft percentage as 20% of the balance of the financial account 305, to enable 20% of the funds held in the financial account 305 to be available as overdraft funds to fund transactions. The overdraft percentage may be defined as any percentage of the one or more associated accounts, and the overdraft percentage may be modified at any time, for example by the cardholder 145 or by the financial institution 315. The modification may be performed through, for example, telephonic communication with a representative of the financial institution 315 and/or third party 405, by accessing a software application via a communication network such as the Internet, by facsimile communication, by email communication, by SMS communication, by postal mail communication, and the like.
The overdraft percentage may be used to determine an available overdraft quantity, for example by multiplying the overdraft percentage by a balance of the respective associated account. The available overdraft quantity may be compared with the quantity by which the converted purchase amount is greater than the balance of the reward account 310 or reward account 410, at 555. When the associated account contains at least an amount equal to the quantity by which the converted purchase amount is greater than the balance of the reward account 310 or reward account 410, the transaction may be authorized, at 560. When the one or more associated accounts have a sufficient open credit line and/or balance, then processing unit 115 or processing unit 125 may transmit data indicating transaction authorization to the respective one of the plurality of merchants 140 a . . . 140 n, in 560. Processing unit 115 and/or processing unit 125 may then adjust the balance of the one or more associated accounts in 565, for example by increasing a credit balance and/or decreasing a debit balance, depending upon the type of associated account the overdraft is associated with. When the associated account has both a credit line and cash, then both the credit line and the cash may be used to fund the purchase amount when necessary. The processing unit 115 and/or processing unit 125 may then adjust the balance of the reward account 310 and/or reward account 410 to reflect the purchase amount, in 570. For example, the balance of reward account 310 or reward account 410 may be decreased to zero or negative reward units predetermined by one or more business rules.
When it is determined at 545 that the one or more associated accounts, for instance financial account 305 and/or reward account 310 or reward account 410, have not been designated as overdraft funding source accounts, the processing may proceed to determine whether an other payment method is available at 575. That is, since a determination was made that the associated account does not contain at least an amount equal to the quantity by which the converted purchase amount is greater than the balance of the reward account 310 or reward account 410, the processing may proceed to determine whether an other payment method is available at 575. For example, if processing unit 125 determines that the balance of reward account 310, 410 is less than the converted purchase amount, then processing unit 125 and/or processing unit 115 determines whether at least one other payment method is available to cover at least a portion of the transaction amount, for instance, whether cardholder 145 has an associated credit account and/or an associated debit account that has a sufficient credit line and/or cash, respectively, in 575. In an exemplary embodiment, the associated credit account and/or the associated debit account is financial account 305. As will be appreciated by a person having ordinary skill in the art, data regarding accounts other than or in addition to financial account 305 can be retrieved and evaluated by processing unit 115 and/or processing unit 125 for determining whether a sufficient credit line and/or cash is available.
In an exemplary embodiment, in order to determine whether at least one other payment method is available, processing unit 115 and/or processing unit 125 determines the difference between the balance of reward account 310, 410 and the converted purchase amount (referred to hereinafter as the �difference amount�). After determining the difference amount, processing unit 115 and/or processing unit 125 determines whether financial account 305 has an open credit line and/or cash that is greater than or equal to the difference amount, for example, upon retrieving data stored in memory unit 120. If financial account 305 has a sufficient open credit line and/or balance, then processing unit 115 transmits data indicating transaction authorization to the respective one of the plurality of merchants 140 a . . . 140 n, in 585. Processing unit 115 and/or processing unit 125 then adjusts the balance of reward account 310 to reflect the purchase amount, in 590. For example, the balance of reward account 310, 410 is decreased to zero or negative reward units predetermined by one or more business rules. The difference amount is credited or debited from financial account 305 depending on whether a credit line or cash, respectively, was used to fund part or all of the purchase amount, in 595. If financial account 305 has both a credit line and cash, then both can be used if need be in order to fund the purchase amount.
If financial account 305 does not have a sufficient open credit line and/or cash, processing unit 115 searches for other accounts associated with cardholder 145 and if one or more such accounts are located, data regarding the account(s) is retrieved from memory unit 120 for locating another potential source for funding the difference amount. If no such account is located by processing unit 115 or if one or more accounts are located but do not have a sufficient credit line or cash, alone or in combination, processing unit 115 transmits data indicating that the transaction has been denied to the respective one of the plurality of merchants 140 a . . . 140 n, in 580.
On the other hand, if one or more other accounts are located by processing unit 115, processing unit 115 transmits data to the respective one of the plurality of merchants 140 a . . . 140 n indicating approval of the transaction, in 585. Depending on the purchase amount, the balance of the reward account balance is decreased, for example, to zero or negative reward units, in 590. Further, the credit line and/or cash of the one or more other accounts, for instance, financial account 305, is increased and/or decreased, respectively, to fund the difference amount, 595.
Additionally, one or more associated accounts may serve as funding sources for replenishment of the reward account 310 or the reward account 410 when the balance of reward account 310 or the reward account 410 falls below a predetermined quantity. In an exemplary embodiment, for example, the associated credit account and/or associated debit account having a credit line and/or cash balance, utilized as an alternative payment source as described above, may be used to replenish the balance of the reward account 310 or the reward account 410. The account associated with the reward account 310 or the reward account 410 may be a credit account, a debit account, or a rewards account, and may be managed by financial institution 315, third party 405, or by another entity. For instance, the one or more associated accounts may be automatically debited, and a number of reward points corresponding to the debited value may be credited to the reward account 310 or the reward account 410. The replenishing may be performed by the cardholder 145 at any time, or may be performed automatically upon the decrease of the balance of the reward account 310 or the reward account 410 to a predetermined level. The automatic replenishing may involve a predetermined number of currency and/or reward units, or may be defined in terms of a percentage of a total balance of one or more of the associated accounts, the reward account 310, or the reward account 410.
In an exemplary embodiment, for example, reward points may be credited to either the reward account 310 or the reward account 410 when a balance of the respective reward account falls below a predetermined quantity. The number of reward points credited may correspond to a predetermined quantity of points, or may correspond to a predetermined currency value. Alternatively, the number of reward points credited may correspond to a predetermined percentage of a balance of either the reward account 310, the reward account 410, or one or more of the associated accounts. For instance, either the reward account 310 or the reward account 410 may be credited with a quantity of reward points corresponding to 10% of a value of a balance of one or more of the associated accounts. The crediting to the reward account 310 or the reward account 410 may be associated with a debit of a balance of the one or more associated accounts corresponding to the amount of reward points credited when the associated account is a debit account, or may be associated with an increased balance of credit when the associated account is a credit account.
Alternatively, a replenishing of reward account 310 or reward account 410 may be performed via a purchase transaction, whereby replenishment reward units, such as points, may be purchased from an entity and deposited into reward account 310 or reward account 410 at a time of transaction, for example, in a quantity corresponding to the difference amount. The entity may include the financial institution and/or the third party 405. The purchase of the replenishment reward units may be funded, for example, by utilization of the financial account 305, or by another associated account. Additional fees associated with the purchase of the replenishment reward units may be imposed, and the additional fees may be based upon the quantity of replenishment units purchased, upon a value of the transaction, upon balances of the accounts of the cardholder 145, upon a transaction history of the cardholder 145, and the like.
In an alternative exemplary embodiment, either the reward account 310 or the reward account 410 may be credited with a quantity of reward points corresponding to a predetermined percentage of a deposit and/or credit of one or more of the associated accounts. For instance, a number of reward points corresponding to a value of 10% of a quantity deposited into one or more of the associated accounts may be credited to either the reward account 310 or the reward account 410.
In an alternative exemplary embodiment, a number of reward points corresponding to a predetermined currency value deposited into one or more of the associated accounts may be credited to either the reward account 310 or the reward account 410. For instance, 20 currency units may be debited from an amount deposited into the one or more associated accounts, and a number of reward units corresponding to a value of the 20 currency units may be credited to the reward account 310 or the reward account 410.
As will be understood by one skilled in the art, the predetermined percentages described with respect to the exemplary embodiments above are merely illustrative, and any suitable percentages and/or values may be utilized. Furthermore, the cardholder 145 may adjust the respective predetermined percentages and/or values at any time, and may adjust the frequency of the crediting of the reward account 310 or the reward account 410.
Statements may be provided to cardholder 145, and the statements may include information associated with, for example, transactions performed and balances of financial account 305 and reward accounts 310, 410. The statements may be provided periodically, and the frequency of provision of the statements may be associated with a billing cycle or may be unrelated to a billing cycle. The statements may include, for example, transaction information, account information, information associated with balances, and the like. In an exemplary embodiment, for instance, the periodic statements may include transaction-level information associated with transactions performed utilizing funds and/or rewards held in any one or all of financial account 305, rewards account 310, or rewards account 410. The transaction-level detail may include, for example, account identification numbers, financial account balance information, reward account balance information, cardholder identification information, merchant identification information, transaction location, transaction item identification information, transaction price, and the like.
Patent CitationsCited PatentFiling datePublication dateApplicantTitleUS2616612Sep 7, 1951Nov 4, 1952Joseph M GuttmanMailing cardUS3505954Nov 8, 1967Apr 14, 1970Henry ProjanskyCredit card and the likeUS3583317Jun 12, 1967Jun 8, 1971George W GibsonTwo-piece credit identification cardsUS3637994Oct 19, 1970Jan 25, 1972Trw IncActive electrical card deviceUS3876864Dec 11, 1973Apr 8, 1975Diebold IncTeller-assisted currency dispenser systemUS4360728Feb 27, 1981Nov 23, 1982Drexler Technology CorporationBanking card for automatic teller machines and the likeUS4443027Jul 29, 1981Apr 17, 1984Mcneely Maurice GMultiple company credit card systemUS4507550May 13, 1983Mar 26, 1985Umc Industries, Inc.High security credit card, system and methodUS4562342Sep 15, 1983Dec 31, 1985Solo Alan JCredit card provided with coded security meansUS4609812Sep 10, 1985Sep 2, 1986Drexler Technology CorporationPrerecorded dual strip data storage cardUS4620727May 28, 1985Nov 4, 1986Stockburger HCredit cardUS4634848Feb 14, 1984Jan 6, 1987Omron Tateisi Electronics Co.Card information selecting systemUS4645916Sep 9, 1983Feb 24, 1987Eltrax Systems, Inc.Encoding method and related system and productUS4656346Apr 9, 1985Apr 7, 1987Drexler Technology CorporationSystem for optically reading and annotating text on a data cardUS4659914Jul 16, 1985Apr 21, 1987I. M. Electronics Co., Ltd.Magnetic card discriminatorUS4683371Aug 6, 1985Jul 28, 1987Drexler Technology CorporationDual stripe optical data cardUS4752676Dec 12, 1985Jun 21, 1988Common Bond AssociatesReliable secure, updatable "cash" card systemUS4806740Sep 19, 1986Feb 21, 1989Light Signatures, Inc.Magnetic characteristic identification systemUS4855583Aug 17, 1987Aug 8, 1989Figgie International, Inc.Structure and method of making combination proximity/insertion identification cardsUS5128524Nov 23, 1990Jul 7, 1992Verifone, Inc.Data carrier reader apparatus for selective data track readingUS5171039Aug 27, 1990Dec 15, 1992Micro Innovations, IncorporatedMedical information cardUS5308121Jul 30, 1992May 3, 1994Gunn Robert TCredit/service card with expanded surface areaUS5326964Mar 10, 1993Jul 5, 1994Risser J MarlinSeparable multi-account safety credit cardUS5424523Nov 15, 1993Jun 13, 1995Kabushiki Kaisha ToshibaRecord medium and record medium processing apparatusUS5440108Aug 11, 1993Aug 8, 1995Verifone, Inc.System and method for dispensing and revalung cash cardsUS5550709Mar 4, 1994Aug 27, 1996Kabushiki Kaisha ToshibaExternal storage deviceUS5559885Feb 22, 1994Sep 24, 1996Drexler Technology CorporationTwo stage read-write method for transaction cardsUS5700037Jan 16, 1996Dec 23, 1997Keller; John A.Security improved cardUS5760381Dec 16, 1996Jun 2, 1998Moore Business Forms, Inc.Packaged debit card assemblyUS5818030Jan 23, 1997Oct 6, 1998Reyes; Rene A.For preventing unauthorized utilization of proprietary dataUS5844230Apr 14, 1995Dec 1, 1998Lalonde; Michael G.Information cardUS5883377Nov 20, 1995Mar 16, 1999International Card Technologies, Inc.Multiple magnetic stripe transaction cards and systems for the utilization thereofUS5918909Jul 16, 1997Jul 6, 1999Barry Fiala, Inc.Package for card with data-encoded strip and method of using sameUS5975302Dec 8, 1997Nov 2, 1999Young; Steven R.Data card display package and method for displaying a data cardUS5984191Aug 6, 1997Nov 16, 1999International Card TechnologyMultiple magnetic stripe transaction cards and systems for the utilization thereofUS6107221Dec 29, 1998Aug 22, 2000Nakajima; NorioCard for cleaning a card processorUS6138917May 20, 1998Oct 31, 2000International Card TechnologyMultiple magnetic stripe transaction cards and systems for the utilization thereofUS6222914Sep 2, 1998Apr 24, 2001Mcmullin John L.System and method for administration of an incentive award system having a delayed award payment using a credit instrumentUS6290137Oct 1, 1999Sep 18, 2001Perfect Plastic Printing CorporationTransparent/translucent financial transaction card including an infrared light filterUS6296188Nov 24, 1999Oct 2, 2001Perfect Plastic Printing CorporationTransparent/translucent financial transaction card including an infrared light filterUS6315206Nov 24, 1999Nov 13, 2001Barry Fiala, Inc.Wallet card packageUS6386591Nov 1, 2000May 14, 2002Eric BlankCard with removable, reusable elementUS6402029Sep 18, 2000Jun 11, 2002E-Micro CorporationMethod and apparatus for combining data for multiple magnetic stripe cards or other sourcesUS6402039Oct 18, 1999Jun 11, 2002Viztec Inc.Flexible chip card with displayUS6439613Aug 9, 2001Aug 27, 2002Western Graphics And Data, Inc.Multiple-component data packageUS6471127Nov 19, 2001Oct 29, 2002Bank Of America CorporationData cardUS6484940Sep 5, 2000Nov 26, 2002Digital CastlesData storage card having both linear and annular data regionsUS6543809Feb 21, 2002Apr 8, 2003Western Graphics And Data Inc.Simplified data package assemblyUS6561432Jan 18, 2000May 13, 2003Giesecke & Devrient GmbhPortable data support with a break-off mini-chip cardUS6588658Jun 23, 2000Jul 8, 2003Eric BlankTransaction card with attached auxiliary memberUS6594640Jun 23, 2000Jul 15, 2003Richard PostrelSystem for electronic barter, trading and redeeming points accumulated in frequent use reward programsUS6601769Feb 21, 2001Aug 5, 2003Scott BarnhillOn-site multiple media application device for credit type cardsUS6631849Dec 6, 2000Oct 14, 2003Bank One, Delaware, National AssociationSelectable multi-purpose cardUS7090138 *Dec 18, 2003Aug 15, 2006Capital One Financial CorporationSystem and method for redeeming rewards and incentivesUSD264853Dec 3, 1979Jun 8, 1982Sgs-Ates Componenti Elettronici S.P.A.Electronic memory credit card with frangible portionUSD270546Mar 10, 1981Sep 13, 1983Ab Id-KortTransaction identification cardUSD280214Apr 7, 1983Aug 20, 1985 Credit cardUSD290136Jun 11, 1984Jun 2, 1987Visa International Service AssociationTransaction cardUSD305887Mar 24, 1988Feb 6, 1990Canon Kabushiki KaishaOptically stored data cardUSD310386Aug 7, 1987Sep 4, 1990Visa International Service AssociationTransaction cardUSD358419Mar 29, 1993May 16, 1995 Credit card with magnifying glass insertUSD359305Apr 29, 1994Jun 13, 1995Alan FinkelsteinCredit card with magnifying lens designUSD367273Dec 15, 1993Feb 20, 1996Nippon I.M.I. Co., Ltd.Information bearing cardUSD374870May 30, 1995Oct 22, 1996Solaic (Societe Anonyme)Smart card with two external contact regionsUSD375303May 30, 1995Nov 5, 1996Solaic (Societe Anonyme)Smart card with plural external contact regionsUSD379006May 30, 1995Apr 29, 1997Solaic (Societe Anonyme)Smart card with m-shaped isolation regionUSD387802Jan 29, 1997Dec 16, 1997 Credit card with magnifying lensUSD406861Jun 25, 1998Mar 16, 1999Retail Royalty CompanyPartially transparent card with opaque machine-readable and signature-receiving stripesUSD427167Jul 12, 1999Jun 27, 2000Kabushiki Kaisha ToshibaAdapter for an IC cardUSD434041Mar 12, 1999Nov 21, 2000First Usa BankTransaction cardUSD436620Sep 1, 1999Jan 23, 2001American Express Travel Related Services Company, Inc.Transparent card with a machine readable stripe, IC chip and ornamental rectangleUSD436991Sep 8, 1999Jan 30, 2001Morgan Feetham & Associates Pty LtdCredit cardUSD437882Sep 10, 1999Feb 20, 2001FCC National BankTransaction cardUSD438562Sep 1, 1999Mar 6, 2001American Express Travel Related Services Company, Inc.Card with an ornamental rectangle and a machine readable stripeUSD438563Sep 1, 1999Mar 6, 2001American Express Travel Related Services Company, Inc.Transparent card with an opacity gradientUSD442222Sep 1, 1999May 15, 2001American Express Travel Related Services Company, Inc.Card with an ornamental rectangle and IC chipUSD442627Sep 1, 1999May 22, 2001American Express Travel Related Services Company, Inc.Transparent card with an opacity gradient ornamental rectangle, machine readable stripe and IC chipUSD442628Sep 1, 1999May 22, 2001American Express Travel Related Services Company, Inc.Card with an ornamental rectangle and exhibiting an opacity gradientUSD442629Sep 1, 1999May 22, 2001American Express Travel Related Services Company, Inc.Card with an ornamental rectangleUSD443298Sep 1, 1999Jun 5, 2001American Express Travel Related Services Company, Inc.Card with an ornamental rectangle, machine readable stripe and IC chipUSD447515Feb 24, 2000Sep 4, 2001American Express Travel Related Services Company, Inc.Card with an ornamental rectangleUSD449336Sep 1, 1999Oct 16, 2001American Express Travel Related Services Company, Inc.Card with a blue ornamental rectangleUSD453160May 11, 2001Jan 29, 2002Bank Of America CorporationData cardUSD453161May 11, 2001Jan 29, 2002Bank Of America CorporationData cardUSD453336May 11, 2001Feb 5, 2002Bank Of America CorporationData cardUSD453338May 11, 2001Feb 5, 2002Bank Of America CorporationData cardUSD453339May 11, 2001Feb 5, 2002Bank Of America CorporationData cardUSD453516May 11, 2001Feb 12, 2002Bank Of America CorporationData cardUSD453517May 11, 2001Feb 12, 2002Bank Of America CorporationData cardUSD454910Jul 6, 2000Mar 26, 2002Mci Worldcom, Inc.Card with keytagUSD456814May 11, 2001May 7, 2002Bank Of America CorporationData cardUSD457556Dec 8, 2000May 21, 2002Discover Financial Services, Inc.Credit cardUSD460455May 11, 2001Jul 16, 2002Bank Of America CorporationData cardUSD461477May 11, 2001Aug 13, 2002Bank Of America CorporationData cardUSD462965May 11, 2001Sep 17, 2002Bank Of America CorporationData cardUSD462966May 22, 2001Sep 17, 2002Bank Of America CorporationData cardUSD464355Aug 18, 2000Oct 15, 2002First Usa Bank, N.A.Transaction cardUSD467247May 11, 2001Dec 17, 2002Bank Of America CorporationData cardUSD468313Aug 18, 2000Jan 7, 2003First Usa Bank, N.A.Transaction cardUSD469777Aug 18, 2000Feb 4, 2003First Usa Bank, N.A.Transaction card* Cited by examinerNon-Patent CitationsReference1"Dual Stripe Magnetic Card"; IBM Technical Disclosure Bulletin; May 1980; pg. 5928.2Discover 2Go Card; http://www.discover2go.com; Jan. 15, 2003; 5 pages.3Ellen Leander, "Collegian: captive audience for smart cards?"; American Banker; Sep. 12, 1995; Copyright 2003 Gale Group.4Legon, Jeordan; "Companies aim to make paying faster, easier"; http://www.cnn.com/2002/TECH/ptech/11/26/mini.credit; Jan. 15, 2003; 3 pages.5Mini Card; http://www.bankofamerica.com/creditcards/index.cfm?template=cc-features-minicard&adlin; Jan. 15, 2003; 1 page.6Multimedia Available: Mini Credit Card on KeyChain; http://money.cnn.com/services/tickerheadlines/bw/223380293.htm; Jan. 15, 2003; 2 pages.7USA: Bank of America is launching a mini bank card; http://qualisteam.com/news; Jan. 15, 2003; 1 page.Referenced byCiting PatentFiling datePublication dateApplicantTitleUS8332313 *Jul 22, 2008Dec 11, 2012Coinstar, Inc.Methods and systems for exchanging and/or transferring various forms of valueUS20090018959 *Jul 22, 2008Jan 15, 2009Coinstar, Inc.Methods and systems for exchanging and/or transferring various forms of valueUS20100057553 *Sep 4, 2009Mar 4, 2010Michael AmeissSystem and Method for Performing a Real Time Redemption Transaction by Leveraging a Payment NetworkUS20130254074 *Mar 22, 2012Sep 26, 2013Bank Of America CorporationGift card exchange marketplace* Cited by examinerClassifications U.S. Classification235/383, 235/380International ClassificationG06K5/00, G07F7/02, G06Q20/00, G06Q30/00, G06K19/08Cooperative ClassificationG06Q30/0216, G06Q30/02, G06Q20/02, G06Q20/342, G07F7/025, G06Q30/0238, G06K19/08, G06Q30/0236, G06Q30/0215, G06Q30/0226European ClassificationG06Q30/02, G06Q20/02, G06Q20/342, G06Q30/0226, G06Q30/0216, G06Q30/0215, G06Q30/0238, G06Q30/0236, G06K19/08, G07F7/02ELegal EventsDateCodeEventDescriptionFeb 21, 2013FPAYFee paymentYear of fee payment: 4Sep 29, 2005ASAssignmentOwner name: CAPITAL ONE FINANCIAL CORPORATION, VIRGINIAFree format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNORS:DEANE, MICHELE SHIBER;EDMONDS, JR., CLYDE SAMUEL;ROSENBLATT, CHARLES AARON;REEL/FRAME:017066/0827;SIGNING DATES FROM 20050927 TO 20050928RotateOriginal ImageGoogle Home - Sitemap - USPTO Bulk Downloads - Privacy Policy - Terms of Service - About Google Patents - Send FeedbackData provided by IFI CLAIMS Patent Services©2012 Google