US 2015/0317665 A1Published application

Credit Card Reward Program Incorporating Investing in Precious Metals

OwnerRichard Hajdukiewiczinventor

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Abstract

In a credit card reward program incorporating investment in precious metals, a credit card holder is provided with a credit card account and a precious metals account. The precious metals account contains balances of one or more precious metals. Cash is accumulated from activity on the credit card account at a reward rate, and may be increased by rounding up transactions on the credit card account and crediting the round-up funds to the total. Periodically, for example monthly, precious metals in proportion to a designated basket are purchased using the cash balance and the metals are added to the balances of metals in the precious metals account. Precious metals may be exchanged for fabricated products in fabrication transactions. Additionally, a precious metal protection program transaction may be provided whereby, for a fee, a price cap may be obtained for the duration of a program period.

Claims20

Dependent claims

A credit card reward program comprising:

(a) a credit card issuer;
(b) a credit card holder;
(c) said credit card issuer issuing a credit card account to said credit card holder;
(d) a program manager;
(e) said program manager issuing a precious metals account to said credit card holder;
(f) said precious metals account containing at least one balance of a precious metal;
(g) said credit card holder designating a basket of at least one metal;
(h) a cash balance;
(i) a periodic purchase period;
(j) a reward rate;
(k) the value of said cash balance over said periodic purchase period being equal to the value of all transactions on said credit card account in said periodic purchase period multiplied by said reward rate;
(l) at the end of said periodic purchase period, said cash balance being completely or mostly consumed by spot purchases of precious metals in proportion to said basket of at least one metal, and the resulting purchased metal being credited to said precious metals account;
and
(m) said program manager making available to said credit card holder a spot sale transaction wherein some or all of the metals in said precious metals account are sold.

11 more elements

Dependencies are inferred from the claim text.