Using a transaction card account to make recurring loan payments

Abstract

Recurring loan payments (e.g., mortgage payments) through a transaction card account is disclosed. Information is received at a transaction account system from a loan company system corresponding to an application received at the loan company system from a requester for a loan involving automatic debits to a transaction card account. A determination is made as to whether the requestor is eligible for the loan to be associated with a transaction card account. If not, the customer receives a communication of rejection. If eligible, a determination is made whether the transaction account system has stored therein a transaction card account of the requestor. If no, a transaction card account is opened for the requestor and associated with the loan. If yes, the loan payment is associated with the transaction card account bill.

What is claimed is: 
     
         1 . A method comprising:
 receiving, by a computer-based transaction account system comprising a processor and a non-transitory, tangible memory, a decline of an automatic, periodic charge to a transaction account of a requestor for a loan from a loan company;   notifying, by the computer-based transaction account system, the loan company responsive to the decline of the automatic, periodic charge;   receiving, by the computer-based system, prepayment information indicating that the requester has prepaid at least a partial amount of the automatic, periodic charge; and   notifying, by the computer-based system, the loan company responsive to the prepayment information relating to the automatic, periodic charge.   
     
     
         2 . The method of  claim 1 , further comprising periodically storing at least one of a reward value or a loyalty point value associated with the automatic, periodic charge in the transaction account. 
     
     
         3 . The method of  claim 1 , wherein the automatic, periodic charge is associated with a mortgage payment. 
     
     
         4 . The method of  claim 1 , wherein the charge is based on a previously submitted application from the requestor to the loan company. 
     
     
         5 . The method of  claim 1 , further comprising applying, by the computer-based transaction account system, the automatic, periodic charge to the transaction account of the requestor for the loan from the loan company. 
     
     
         6 . The method of  claim 1 , wherein the transaction account is a credit based account. 
     
     
         7 . The method of  claim 1 , wherein the loan is associated with the transaction account of the requestor. 
     
     
         8 . The method of  claim 1 , further comprising determining that the requestor is eligible to use the transaction account for the automatic, periodic charge. 
     
     
         9 . The method of  claim 1 , further comprising offering incentives to the loan company to transmit the information of the requestor to the transaction account system. 
     
     
         10 . The method of  claim 1 , wherein the loan comprises a subset of available loans. 
     
     
         11 . The method of  claim 1 , further comprising performing a pre-authorization process for the transaction account. 
     
     
         12 . The method of  claim 1 , further comprising performing a pre-authorization process for the transaction account, in response to the transaction account of the requestor being stored in the transaction account system. 
     
     
         13 . The method of  claim 1 , further comprising requiring, by the computer-based system, that a payment be made to reduce a balance of the transaction account. 
     
     
         14 . The method of  claim 1 , further comprising receiving notification information, by the computer-based system, indicating that the requestor is reducing a rate of spend on the transaction account. 
     
     
         15 . The method of  claim 1 , further comprising notifying, by the computer-based system, the loan company, responsive to an indication of a reduced rate of spend relating to the automatic, periodic charge. 
     
     
         16 . A system comprising:
 a processor configured for managing a transaction account,   a tangible, non-transitory memory configured to communicate with the processor,   the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:   receiving, by the processor, a decline of an automatic, periodic charge to a transaction account of a requestor for a loan from a loan company;   notifying, by the processor, the loan company responsive to the decline of the automatic, periodic charge;   receiving, by the processor, prepayment information indicating that the requestor has prepaid at least a partial amount of the automatic, periodic charge; and   notifying, by the processor, the loan company responsive to the prepayment information relating to the automatic, periodic charge.   
     
     
         17 . The system of  claim 16 , further comprising notifying, by the computer-based system, the loan company, responsive to an indication of a reduced rate of spend relating to the automatic, periodic charge. 
     
     
         18 . The system of  claim 16 , wherein the charge is based on a previously submitted application from the requestor to the loan company. 
     
     
         19 . The system of  claim 16 , further comprising applying, by the computer-based transaction account system, the automatic, periodic charge to the transaction account of the requestor for the loan from the loan company. 
     
     
         20 . An article of manufacture including a non-transitory, tangible computer readable medium having instructions stored thereon that, in response to execution by a computer-based transaction account system, cause the computer-based system to perform operations comprising:
 receiving, by the computer-based transaction account system, a decline of an automatic, periodic charge to a transaction account of a requestor for a loan from a loan company;   notifying, by the computer-based transaction account system, the loan company responsive to the decline of the automatic, periodic charge;   receiving, by the computer-based system, prepayment information indicating that the requestor has prepaid at least a partial amount of the automatic, periodic charge; and   notifying, by the computer-based system, the loan company responsive to the prepayment information relating to the automatic, periodic charge.