Credit-card based retirement fund system and method
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United States of America Patent
Stats
-
Jul 28, 1998
Grant Date -
N/A
app pub date -
Nov 21, 1995
filing date -
Nov 21, 1995
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A method and system for providing an investment fund, such as a long term investment fund which may be suitable for retirement purposes, comprising the steps of establishing a credit based account with a credit card issuer for the benefit of a credit card holder, providing an investment account with a financial institution for the benefit of the credit card holder, funding the investment account by the credit card issuer with a predetermined amount of money on a periodic basis, and charging an amount of money so funded against the credit based account of the credit card holder. In addition, disclosed is a method and system providing an investment fund is based on purchase rebates, comprising the steps of establishing a credit based account with a credit card issuer for the benefit of a credit card holder, providing a long term investment account with a financial institution for the benefit of the credit card holder, ascertaining the total amount of money charged by the credit card holder in subscriber merchants in a particular period of time, and providing a rebate by the credit card issuer to the credit card holder by funding the investment account of the credit card holder with a predetermined percentage of said total amount so ascertained.
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