David A Lowry

US Patent:

20140310168, Oct 16, 2014

Filed:

Jun 25, 2014

Appl. No.:

14/314426

Inventors:

- New York NY, US
Boudhayan Choudhuri - Phoenix AZ, US
Jessica Kaplan - New York NY, US
David Lowry - New York NY, US
Gyanesh Narayan - Scottsdale AZ, US
Eric Nielsen - New York NY, US
Christine Vega - South Orange NJ, US

Assignee:

American Express Travel Related Services Company, Inc. - New York NY

International Classification:

G06Q 20/10

US Classification:

705 40

Abstract:

A method is disclosed for offering transaction account consumers with payment term options to pay a minimum amount due early, defer payment into the following payment cycle, and pay a standard amount when due. When generating a periodic billing statement, the invention determines a consumer's eligibility to elect early payment, deferred payment, and regular payment. When a consumer is eligible for early payment, a received payment is compared to a discount rate tier, then a discount amount is calculated and credited to the consumer's account. When the consumer is eligible for deferred payment, the system calculates a new current minimum payment due by multiplying the current non-deferred balance by a predetermined percentage amount and adding the result to the deferred balance. When the consumer is not eligible for deferred payment, the system calculates a new current minimum due by summing the current non-deferred balance with the deferred balance.

Author:

David W. Lowry

ISBN #:

0669164135

Author:

David W. Lowry

ISBN #:

0669400483

Author:

David D. Lowry

ISBN #:

0669403636

Author:

David Lowry

ISBN #:

0333493648

Author:

David Lowry

ISBN #:

0819178578

Author:

David C. Lowry

ISBN #:

0724452508