Debit purchasing of stored value card for use by and/or delivery to others

A method for issuing a purchase card as a rebate award comprising:

• issuing a credit card to a cardholder, said credit card being associated with a sponsor;
• calculating a rebate amount based upon cardholder purchases made with said credit card;
• creating a purchase card account for a recipient designated by the cardholder, the purchase card having a purchase value determined by said rebate amount;
• and
• issuing the purchase card.

A method of issuing a credit card comprising:

• creating a purchase card account for a recipient designated by a purchaser;
• issuing the purchase card;
• receiving a request from the recipient to convert the purchase card into a credit card;
• determining whether the recipient meets predetermined credit criteria to convert the purchase card into a credit card;
• creating a credit card account;
• and
• converting the purchase card into a credit card.