The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 13, 2010
Filed:
Feb. 16, 2006
Stephen Todd Drummond, Atlanta, GA (US);
Mark R. Pendleton, Atlanta, GA (US);
Stephen Todd Drummond, Atlanta, GA (US);
Mark R. Pendleton, Atlanta, GA (US);
Compucredit Intellectual Property Holdings Corp. II, Las Vegas, NV (US);
Abstract
A system and method for extending a balance reduction offer to a set of borrowers selected from a pool is provided. A lender, for instance a financial institution issuing credit cards to a pool of borrowers, selects a subset of borrowers based upon a criterion. The balance reduction offer includes a financial incentive to encourage the borrower to accept the offer. When the borrower accepts the offer, the lender credits the account for a payment received. In one embodiment, an issuer of credit cards may employ the invention to facilitate selected borrowers transferring outstanding balances to another credit card. In such an embodiment, the borrower may complete the transaction with the assistance of a cash wire transfer company.