Joseph D Lilly

Title: Innovations by Joseph D Lilly

Introduction

Joseph D Lilly is an accomplished inventor based in Richmond, VA (US). He holds a total of 5 patents that showcase his innovative contributions to the field of credit systems. His work primarily focuses on enhancing credit card functionalities to better serve consumers.

Latest Patents

One of his latest patents is titled "Systems and methods for providing extra lines of credit." This invention discloses a system and method for upgrading existing credit cards with additional lines of credit. The process involves analyzing credit information associated with customers holding credit cards issued by a credit card issuer to determine a level of risk associated with each customer. Based on this risk assessment, one or more extra lines of credit may be established for selected customers. Each extra credit line can be exclusively associated with a selected set of vendors that have a partnership agreement with the credit card issuer. Customers may have the option to select vendors for their extra credit lines or have them automatically chosen. This innovation allows customers to purchase goods and services directly from vendor sites or at the credit card issuer's websites, with purchases at selected vendor sites automatically applied to the newly established extra credit line.

Career Highlights

Joseph D Lilly has had a notable career, working with prominent companies such as Capital One Financial Corporation. His experience in the financial sector has significantly influenced his inventive pursuits, particularly in credit systems.

Collaborations

Throughout his career, Joseph has collaborated with various professionals, including Colin Jeffrey Ruh and Jeff G York. These collaborations have likely contributed to the development and refinement of his innovative ideas.

Conclusion

Joseph D Lilly's contributions to the field of credit systems through his patents demonstrate his commitment to innovation. His work not only enhances the functionality of credit cards but also provides consumers with more flexible financial options.