Importance

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Abstract

This Method and System Invention relates to credit or debit cards of all kinds issued by a bank(s) or financial institution which when issued convey an interest earning savings account opened by the same bank issuing the card. The card may be a Credit or Debit card of any kind, including but not limited to: an Affinity Credit Card; a Gift Card; a Prepaid Debit Card; a Stored Value Card; a Corporate Credit or Debit Card; a Bank Card; a Funded Card, et al. This invention will provide the user a Method and System the benefits of an attached savings account which will, by electronic (EFT) transfers, receive the funds developed by discounts, rebates or rebates offered by participating stores and or service provider entities when purchasing their merchandise or services using the card. Users of this Method and System will benefit from discounts, rewards or rebates to which they may not be entitled when using presently credit or debit cards available. The deposited funds, product of discounts, rebates, rewards or additional deposits made by the cardholder to the Savings Account, may be transferred by the cardholder to increase its debit card stored amount or to reduce an owed balance in a credit card. Withdrawal of funds in full when the card is cancelled. A previous bank relationship is unnecessary and not requested to obtain this prepaid or stored value debit card, for credit cards and bank check debit cards may be required a previous bank relationship of an existing or new checking account.

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First Claim