Default proof credit card method system

Details Default proof credit card method system Default proof credit card method system

1985-05-31

1988-01-05

Smith, Jerry

Boots, shoes, and leggings

364900, G06F 1521

Patent

active

047180099

ABSTRACT:
A method and system for credit card issuers with cardholders that own insurance policies with surrender cash values in them. The method and system include the use of computerized and information storage systems for obtaining information storage systems for obtaining information from each participating cardholder. The system uses this information to compute a line of credit that is transmitted to the participating bank that issue the conventional cards. Since the system has an assignment of the equity of each policy, it can extend the line of credit with virtually no risk of default.

REFERENCES:
patent: 3949191 (1976-04-01), Crowther
patent: 4194242 (1980-03-01), Robbins
patent: 4346442 (1982-08-01), Musmanno
patent: 4376978 (1983-03-01), Musmanno
patent: 4454414 (1984-06-01), Benton
patent: 4590365 (1986-05-01), Okada

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