Patents Assigned to Default Proof Credit Card System, Inc.
  • Patent number: 4718009
    Abstract: A method and system for credit card issuers with cardholders that own insurance policies with surrender cash values in them. The method and system include the use of computerized and information storage systems for obtaining information storage systems for obtaining information from each participating cardholder. The system uses this information to compute a line of credit that is transmitted to the participating bank that issue the conventional cards. Since the system has an assignment of the equity of each policy, it can extend the line of credit with virtually no risk of default.
    Type: Grant
    Filed: May 31, 1985
    Date of Patent: January 5, 1988
    Assignee: Default Proof Credit Card System, Inc.
    Inventor: Vincent Cuervo