Patent ID: 7398246

Claim:
A method of managing a mortgage rebate transaction card account, comprising: providing a mortgage rebate transaction card account for a cardholder by a transaction card provider; allowing the cardholder to incur charges against the mortgage rebate transaction card account; computing a mortgage rebate amount by the transaction card provider based on an amount of charges incurred against the mortgage rebate transaction card account; and periodically arranging for application of the mortgage rebate amount against a mortgage loan balance for the cardholder by the transaction card provider; wherein providing the mortgage rebate transaction card account further comprises: determining, according to pre-defined mortgage and credit card application score parameters, that an applicant qualifies for the mortgage rebate transaction card account when the applicant applies for a mortgage loan; offering the mortgage rebate transaction card account to the qualified applicant; applying mortgage loan application-related costs to a temporary transaction card account with a generic account number upon acceptance of the offer by the qualified applicant; issuing the mortgage rebate transaction card for the qualified applicant with a mortgage rebate transaction card account number to which mortgage loan application-related costs are ported; and including the mortgage loan application-related costs on a first mortgage rebate transaction card statement to the cardholder.