Patents Assigned to Discover Financial Services
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Publication number: 20130226784Abstract: A computer based method for selecting a balance transfer pricing offer for an individual financial account. The method includes selecting a plurality of balance transfer offers, each balance transfer offer comprising balance transfer pricing and duration criteria, executing computer executable instructions comprising one or more predictive models that estimate for the individual financial account and each of the balance transfer offers a plurality of parameters such as a probability of a response as well as a plurality of financial parameters, scoring the estimate of the one or more predictive models to determine an expected financial benefit for each of the balance transfer offers, determining, for the individual financial account, an optimal balance transfer offer among the plurality of the balance transfer offers by way of maximizing the expected financial benefit based on a plurality of constraints, and assigning to the individual financial account the optimal balance transfer offer.Type: ApplicationFiled: February 28, 2012Publication date: August 29, 2013Applicant: Discover Financial ServicesInventors: Vincent He, Jun Yang, Yanqing Jiang, Dong Yan, Yanguo Wang
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Publication number: 20130103570Abstract: Electronic modeling of long-term historical financial credit performance of a consumer is described. A plurality of historical time periods originating from an observation point in time occurring in the past are established and a plurality of past credit performance snapshots for a sample consumer population are obtained. A credit risk management computer system computes a credit quality index for each of the past credit performance snapshots of the sample population and for a recent credit performance snapshot of the consumer. An overall credit quality index for the sample population spanning the plurality of historical time periods is likewise computed and a prediction of an overall credit quality index for the consumer spanning the plurality of historical time periods is made.Type: ApplicationFiled: October 21, 2011Publication date: April 25, 2013Applicant: Discover Financial ServicesInventors: HongQi Shi, Shrikant Dash, Vaibhav Bhatt
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Patent number: 7890421Abstract: Ways are provided to allow a credit card issuing financial institution and the card member to customize a credit card account by defining an unlimited number of special-purpose lines of credit, while maintaining the overall risk at or below the overall line of credit. The individual specialized lines of credit share the overall line of credit, where the total amount of credit actually extended to the card member based on one or more of the specialized lines of credit is limited by the overall line of credit. To provide flexibility in allocating credit toward a plurality of different expenses, the sum of all of the individual lines of credit is preferably greater than the overall line of credit. Therefore, numerous special-purpose lines of credit are created for promotional, budgetary, fraud prevention, or other purposes, without negatively affecting the consumer's credit profile and/or credit score.Type: GrantFiled: November 7, 2007Date of Patent: February 15, 2011Assignee: Discover Financial Services LLCInventors: Nicholas Peter Dumas-Brown, Jeffrey Thomas Bielski
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Publication number: 20100082418Abstract: A cash rebate award system with increased payout options is presented, wherein a consumer using a financial alternative to currency is rewarded based on the purchases made by the consumer within a given time frame, and is allowed to electronically transfer the award into any number of banking or investment accounts. A standard electronic currency transfer system, such as the ABA routing number system, or the ACH routing system, can be used so as not to limit the accounts into which the consumer can transfer their award. Consumers can also choose to transfer their award to multiple accounts, or accounts belonging to others, such as family or charities. Account information can also be saved for more efficient subsequent transfers, and automated transfers can also be set up by the consumer.Type: ApplicationFiled: December 7, 2009Publication date: April 1, 2010Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Julie Anne Loeger, Vicki Ann Smith-Doyle
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Patent number: 7630935Abstract: A cash rebate award system with increased payout options is presented, wherein a consumer using a financial alternative to currency is rewarded based on the purchases made by the consumer within a given time frame, and is allowed to electronically transfer the award into any number of banking or investment accounts. A standard electronic currency transfer system, such as the ABA routing number system, or the ACH routing system, can be used so as not to limit the accounts into which the consumer can transfer their award. Consumers can also choose to transfer their award to multiple accounts, or accounts belonging to others, such as family or charities. Account information can also be saved for more efficient subsequent transfers, and automated transfers can also be set up by the consumer.Type: GrantFiled: November 3, 2003Date of Patent: December 8, 2009Assignee: Discover Financial Services LLCInventors: Julie Anne Loeger, Vicky Ann Smith-Doyle
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Publication number: 20090177488Abstract: Systems and methods are disclosed for settling health care claims as part of a claim adjudication process. A standard financial transaction network is used to settle the portion of the claim not covered by insurance. Eligibility checks are also disclosed that make use of the financial transaction network to determine whether a patient has sufficient funds in a financial account to cover his portion of health care related expenses. The eligibility checks can be combined with the settlement process.Type: ApplicationFiled: January 9, 2008Publication date: July 9, 2009Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Judith UNLAND, Mike KNAUFF
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Patent number: 7549244Abstract: A non-rectangular or asymmetrically shaped credit card or phone card with an associated case or holder. The card has a configuration that complements the configuration of the case so that the card is easily removed from the holder for access, yet is maintained inside the case in a covered position and is protected from abuse. The case is designed to be light-weight and easily carried and to serve as a device to carry the card in a safe and convenient manner outside of a wallet or purse. Alternatively, the card may be in an I-shape or square shape configuration.Type: GrantFiled: November 5, 2007Date of Patent: June 23, 2009Assignee: Discover Financial Services LLCInventors: David W. Nelms, Betty M. Schick, Kimberly S. Wilson, Roger C. Hochschild
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Publication number: 20090119202Abstract: Ways are provided to allow a credit card issuing financial institution and the card member to customize a credit card account by defining an unlimited number of special-purpose lines of credit, while maintaining the overall risk at or below the overall line of credit. The individual specialized lines of credit share the overall line of credit, where the total amount of credit actually extended to the card member based on one or more of the specialized lines of credit is limited by the overall line of credit. To provide flexibility in allocating credit toward a plurality of different expenses, the sum of all of the individual lines of credit is preferably greater than the overall line of credit. Therefore, numerous special-purpose lines of credit are created for promotional, budgetary, fraud prevention, or other purposes, without negatively affecting the consumer's credit profile and/or credit score.Type: ApplicationFiled: November 7, 2007Publication date: May 7, 2009Applicant: Discover Financial Services LLCInventors: Nicholas Peter Dumas-Brown, Jeffrey Thomas Bielski
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Publication number: 20090083065Abstract: Transaction network operators can facilitate transactions of healthcare related goods via customers' tax-advantaged accounts, but without subjecting themselves to privacy regulations. Authorization for healthcare related purchases, including both price information and product information, is passed over PBM networks or other networks that already are regulation-compliant, while other purchase requests pass over existing payment card transaction networks. The PBM network divorces product information from the payment information, confirms eligibility, and passes the payment information to the general transaction network operator, indicating those funds are to come from the customer's tax-advantaged account. The network operator marries the payment information from the PBM with the other transaction information from the payment card network, withdraws appropriate funds from the tax-advantaged account, and notifies the merchant the amount that has been withdrawn from the tax-advantaged account.Type: ApplicationFiled: September 24, 2007Publication date: March 26, 2009Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Judith UNLAND, Mike KNAUFF
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Publication number: 20080255986Abstract: Techniques are described for targeting customers with offers for pre-approved credit. The techniques can be employed while the customer is engaged in a business transaction at a merchant's point-of-sale by pre-screening for creditworthiness using basic customer information known to the merchant. The pre-screening can be performed on behalf of a single lender or in a cascading fashion on behalf of multiple lenders should the customer fail initial pre-screens. Additionally, techniques are described for using a cascading approach on customer-initiated credit applications, such that an applicant declined credit from one lender is automatically considered for credit from another lender via an arrangement between the lenders.Type: ApplicationFiled: April 12, 2007Publication date: October 16, 2008Applicant: Discover Financial Services LLCInventors: Mark Scarborough, Hoan Wagner, Jerry Young, Jonas Ng
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Publication number: 20080103968Abstract: Systems and methods are described for redeeming rewards at a merchant's point-of-sale. The reward redemption takes place in real time and can be accomplished without the active participation of the merchant. A single credit card with no additional information may be used with a single swipe from the consumer to access both credit and rewards accounts, such that a single authorization request is made to encompass both rewards and credit. Merchants can be fully compensated for transactions by the issuer despite the customer's choice to redeem rewards.Type: ApplicationFiled: October 31, 2006Publication date: May 1, 2008Applicant: Discover Financial Services LLCInventors: Maureen J. Bies, Bradford P. Hawley
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Publication number: 20080082407Abstract: Systems and methods are described whereby credit card customers can receive predictable rewards that serve as incentives to manage their credit card debt payments wisely. In particular, credit card holders receive rewards when making several consecutive timely payments. Cardholders also receive rewards when, in a given timeframe, they make some predetermined number of payments above the amount of the minimum payment due. The rewards may be processed in any of several ways chosen by the customer. The rewards' value may be arbitrary (dynamic or static), or based on account variables, such as the amount of interest due on the credit card account.Type: ApplicationFiled: September 15, 2006Publication date: April 3, 2008Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Margaret H. Georgiadis, Anas Osman, Kelly J. Tufts
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Publication number: 20080059369Abstract: A non-rectangular or asymmetrically shaped credit card or phone card with an associated case or holder. The card has a configuration that complements the configuration of the case so that the card is easily removed from the holder for access, yet is maintained inside the case in a covered position and is protected from abuse. The case is designed to be light-weight and easily carried and to serve as a device to carry the card in a safe and convenient manner outside of a wallet or purse. Alternatively, the card may be in an I-shape or square shape configuration.Type: ApplicationFiled: November 5, 2007Publication date: March 6, 2008Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: David Nelms, Betty Schick, Kimberly Wilson, Roger Hochschild
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Patent number: 7290364Abstract: A non-rectangular or asymmetrically shaped credit card or phone card with an associated case or holder. The card has a configuration that complements the configuration of the case so that the card is easily removed from the holder for access, yet is maintained inside the case in a covered position and is protected from abuse. The case is designed to be light-weight and easily carried and to serve as a device to carry the card in a safe and convenient manner outside of a wallet or purse. Alternatively, the card may be in an I-shape or square shape configuration.Type: GrantFiled: February 27, 2002Date of Patent: November 6, 2007Assignee: Discover Financial Services LLCInventors: David W. Nelms, Betty M. Schick, Kimberly S. Wilson, Roger C. Hochschild
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Patent number: D545361Type: GrantFiled: October 6, 2005Date of Patent: June 26, 2007Assignee: Discover Financial Services LLCInventors: Lien D. Boland, Keith Alsberg
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Patent number: D680168Type: GrantFiled: July 8, 2011Date of Patent: April 16, 2013Assignee: Discover Financial ServicesInventors: Farhan Ahmad, Troy Bernard, Ed O'Sullivan, Ryan Julian
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Patent number: D680169Type: GrantFiled: July 8, 2011Date of Patent: April 16, 2013Assignee: Discover Financial ServicesInventors: Farhan Ahmad, Troy Bernard, Ed O'Sullivan, Ryan Julian
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Patent number: D680585Type: GrantFiled: July 8, 2011Date of Patent: April 23, 2013Assignee: Discover Financial ServicesInventors: Farhan Ahmad, Troy Bernard, Ed O'Sullivan, Ryan Julian
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Patent number: D685419Type: GrantFiled: July 8, 2011Date of Patent: July 2, 2013Assignee: Discover Financial ServicesInventors: Farhan Ahmad, Troy Bernard, Ed O'Sullivan, Ryan Julian
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Patent number: D691159Type: GrantFiled: January 27, 2011Date of Patent: October 8, 2013Assignee: Discover Financial ServicesInventors: Michael A. Boush, Steve A. Furman, Catherine R. Sproul, Toby D. Roberts, Jacob Andsager, Joseph M. D'Amico, Prianka Advani