System and method for granting promotional rewards to credit account holders

Patent metadata

Field	Value
Publication number	US-9990642-B2
Application number	US-87341110-A
Country	US
Kind code	B2
Filing date	Sep 1, 2010
Priority date	Oct 11, 2002
Publication date	Jun 5, 2018
Grant date	Jun 5, 2018

Abstract

A system and method for providing promotional rewards is provided. First, a promotional reward is communicated to a customer. The promotional reward offer comprises a promotional reward associated with one or more promotional reward-earning behaviors and a promotional time frame. The offer may specify a customer population, and the customer may be enrolled in the promotional reward program if the customer is determined to be in the population. The customer is credited a promotional reward if the customer accomplishes the promotional reward-earning behavior(s) within the promotional time frame. The customer may also be enrolled in a base reward program. The promotional rewards and base rewards may be accumulated in a customer account. A system for implementing a promotional rewards program is also provided.

First claim

What is claimed is:

1. A method for identifying and offering reward programs, comprising:
at least one computer processor identifying a first reward program that a customer is enrolled in, the first reward program having a first account and associated with a first reward offer;
receiving, from the customer, authorization to product switch from the first reward program to a second reward program, the second reward program having a second account;
the at least one computer processor establishing one or more conversion rules for transferring the customer's rewards in the first account to rewards in the second account, wherein the one or more currency conversion rules comprises one or more specified reward program transfer pairs indicating an allowable conversion of rewards from the first reward program to the second reward program;
the at least one computer processor converting rewards in the first account rewards in the second account based on a conversion rate and in real-time, wherein the conversion rate comprises a universal unit to facilitate conversion of the rewards from the first account to the second account;
the at least one computer processor depositing the converted rewards to the second account;
the at least one computer processor automatically terminating the customer enrollment in the first reward program once the converted rewards are deposited the second account; and
the at least one computer processor transferring the first reward offer to the second reward program.

2. The method of claim 1 wherein the rewards comprise redeemable points.

3. The method of claim 1 wherein the rewards comprise cash value.

4. The method of claim 1 wherein the rewards are issuer-specific or sponsor-specific.

5. The method of claim 1 wherein identifying a first reward program that the customer is enrolled in comprises receiving account information associated with the first reward program from the customer.

6. The method of claim 1 wherein the first reward program is associated with a financial account.

7. The method of claim 1 wherein the first account is associated with a financial institution.

8. The method of claim 1 , wherein the second reward program comprises a plurality of reward programs.

9. A system for identifying and offering reward programs, comprising:
at least one server, comprising at least one computer processor, communicatively coupled to a network;
the at least one server configured to:
identify a first reward program that a customer is enrolled in, the first reward program having a first account and associated with a first reward offer;
receive authorization to product switch from the first reward program to a second reward program, the second reward program having a second account;
establish one or more conversion rules for transferring the customer's rewards in the first account to the second account, wherein the one or more currency conversion rules comprises one or more specified reward program transfer pairs indicating an allowable conversion of rewards from the reward program to the second reward program;
convert rewards in the first account to rewards in the second account based on a conversion rate and in real-time, wherein the conversion rate comprises a universal unit to facilitate conversion of the rewards associated with the first reward program to rewards from the first account to the second account;
deposit the converted rewards to the second account;
automatically terminate the customer enrollment in the first reward program once the converted rewards are deposited the second account; and
transfer the first reward offer to the second reward program.

10. The system of claim 9 wherein the rewards comprise redeemable points.

11. The system of claim 9 wherein the rewards comprise cash value.

12. The system of claim 9 wherein the rewards are issuer-specific or sponsor-specific.

13. The system of claim 12 wherein the issuer-specific or sponsor-specific exchange entity comprises any redeemable value.

14. The system of claim 9 wherein the identification of the first reward program is provided by the customer.

15. The system of claim 9 wherein the first reward program is associated with a financial account.

16. The system of claim 9 wherein the first account is associated with a financial institution.

17. The system of claim 9 , wherein the second reward program comprises a plurality of reward programs.

18. The method of claim 1 , wherein the first reward program is associated with a first credit card association, and the second reward program is associated with a second credit card association.

19. The system of claim 9 , wherein the first reward program is associated with a first credit card association, and the second reward program is associated with a second credit card association.

Assignees

• Strock Bradley R
• Hooper Lynn
• Glavin Eugene M
• Bressler Beth L
• Jpmorgan Chase Bank Na

Inventors

• Strock Bradley R
• Hooper Lynn
• Glavin Eugene M
• Bressler Beth L

Classifications

• G06Q30/0232 Primary

  Frequent usage rewards other than merchandise, cash or travel · CPC title

• G06Q30/0213

  Consumer transaction fees · CPC title

• G06Q30/0216

  Investment accounts · CPC title

• G06Q30/0231

  Awarding of a frequent usage incentive independent of the monetary value of a good or service purchased, or distance travelled · CPC title

• G06Q30/0235

  constrained by time limit or expiration date · CPC title