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:
Apr. 26, 2011
Filed:
Aug. 31, 2006
Stephen Hotz, Marietta, GA (US);
Jennifer Kelly, Atlanta, GA (US);
Krishnamoorthy Srinivasan, Marietta, GA (US);
Ajay Kumar Jindia, Smyrna, GA (US);
Stephen Hotz, Marietta, GA (US);
Jennifer Kelly, Atlanta, GA (US);
Krishnamoorthy Srinivasan, Marietta, GA (US);
Ajay Kumar Jindia, Smyrna, GA (US);
Compucredit Intellectual Property Holdings Corp. II, Las Vegas, NV (US);
Abstract
A method and apparatus for rapidly and remotely providing temporary credit to a borrower is provided. In one embodiment, a lender uses as one criterion in approving the temporary credit a minimum number of deposits within a predetermined deposit verification time. Upon receipt of a request for credit, which may come either from a prospective borrower or from a merchant upon denial of credit to the prospective borrower, a lender queries a deposit account to determine whether a predetermined minimum number of deposits has been made within a predetermined deposit verification time. The lender may also determine whether each of the deposits exceeds a minimum deposit amount. Where approved, the lender is able to rapidly dispense funds for use by the borrower. In one embodiment, the lender makes these funds available via a pre-paid credit card. The lender is then able to collect principal and interest through electronic withdrawals.