Method and system for installment payment utilization
AssigneeeBay Inc.
InventorHardik Chaudhari
Life of this patent
Estimating the term…
Abstract
Methods and system for installment payment utilization are described. In one embodiment, a revolving balance of a credit instrument associated with a user may be accessed. The revolving balance may be at a revolving balance interest rate. An installment balance may be designated for the credit instrument. The installment balance may be associated with a payment schedule and a payment amount and be at a different interest rate than the revolving balance interest rate. The credit instrument may be updated responsive to the designation of the installment balance.
Claims30
A method comprising:
- accessing a credit instrument with a revolving balance, the credit instrument being associated with a user, the revolving balance at a revolving balance interest rate;
- designating an installment balance for the credit instrument, the installment balance associated with a payment schedule and a payment amount and being at a different interest rate than the revolving balance interest rate;
- and
- updating the credit instrument responsive to designation of the installment balance.
A method comprising:
- receiving a purchase offer for an item utilizing a credit card, the credit card associated with a user;
- accessing an installment payment setting for the user;
- designating a payment schedule and a payment amount for an installment payment plan based on the purchase offer and the installment payment setting;
- and
- processing the credit card with the purchase offer responsive to the designating of the payment schedule and the payment amount.
A machine-readable medium comprising instructions, which when implemented by one or more processors perform the following operations:
- access a credit instrument with a revolving balance, the credit instrument being associated with a user, the revolving balance at a revolving balance interest rate;
- designate an installment balance for the credit instrument, the installment balance associated with a payment schedule and a payment amount and being at a different interest rate than the revolving balance interest rate;
- and
- update the credit instrument responsive to designation of the installment balance.
A machine-readable medium comprising instructions, which when implemented by one or more processors perform the following operations:
- receive a purchase offer for an item utilizing a credit card, the credit card associated with a user;
- access an installment payment setting for the user;
- designate a payment schedule and a payment amount for an installment payment plan based on the purchase offer and the installment payment setting;
- and
- process the credit card with the purchase offer responsive to the designating of the payment schedule and the payment amount.
A system comprising:
- a credit instrument access module accesses a credit instrument with a revolving balance, the credit instrument being associated with a user, the revolving balance being at a revolving balance interest rate;
- an installment balance designation module designates an installment balance for the credit instrument accessed by the credit instrument access module, the installment balance associated with a payment schedule and a payment amount and being at a different interest rate than the revolving balance interest rate;
- and
- a credit instrument updating module updates the credit instrument accessed by the credit instrument access module responsive to designation of the installment balance.
Dependencies are inferred from the claim text.