System and method for offering and providing secured credit card

Details System and method for offering and providing secured credit card System and method for offering and providing secured credit card

1999-09-03

2000-12-12

Pitts, Harold I.

Registers

Systems controlled by data bearing records

Credit or identification card systems

235379, G06K 500

Patent

active

061586579

ABSTRACT:
A system and method is provided for offering and providing secured credit card products. The disclosed systems and method provide a secured credit card product that is offered to a select group of potential customers. The offer may indicate both the required security deposit and the maximum credit limit that the customer may qualify for in exchange for the security deposit. When each customer response to the offer is received, the actual credit limit for the secured credit card is determined based on the individual's credit history and other credit-related factors. After determining the credit limit, a customer account is established and the customer is notified of his/her new account. This notification may include providing the new account number, credit limit and other pertinent account information, as well as issuing one or more secured credit cards represented with plastic card-like members.

REFERENCES:
patent: 6085976 (2000-07-01), Sehr

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