Chasing rewards associated with accounts

Abstract

The present invention is directed to a method for linking accounts corresponding to different products together to create a group so that group processing can be performed at the group level while independent processing of the accounts is performed at the account level. The method links the accounts into a group by linking a financial record for each account to group master data for the group. The group master data includes information about the group, including group control settings, aggregate data, and a group identifier. A group typically includes a key account and one or more dependent accounts. The relationship between a dependent account and the group is specified by a dependent strategy. A dependent strategy specifies group level processing options for the account. The relationships between the accounts and the group are flexible to accommodate changes in the status of the group cardholders. Alternative embodiments will be apparent to those skilled in the art to which the present invention pertains without departing from its spirit and scope. Accordingly, the scope of the present invention is described by the appended claims and is supported by the foregoing description.

1 - 42 . (canceled) 
     
     
         43 . A method for redeeming rewards, comprising:
 maintaining a first financial account, wherein the first financial account is associated with a first party and a first reward, wherein the first financial account is further associated with a first account number and a first presentation instrument having the first account number, and wherein the first reward is at least partially accrued based on use of the first presentation instrument;   receiving at a computer a redemption request, wherein the redemption request is initiated by a second party having a second account, wherein the second account is associated with a second account number, a second presentation instrument and a second reward, wherein the second reward is at least partially accrued based on use of the second presentation instrument, and wherein the first and second presentation instruments comprise different presentation instrument products;   in response to the redemption request, determining that the redemption request exceeds the second reward and then identifying by the computer the first account and a relationship between the first account and the second party; and   satisfying the redemption request, wherein the redemption request is satisfied from at least a portion of the first reward in the first account and the second reward in the second account.   
     
     
         44 . The method of  claim 43 , wherein the first and second presentation instruments are credit cards, and wherein the different presentation instrument products are different credit card products. 
     
     
         45 . The method of  claim 44 , wherein the different credit card products are differently branded credit cards. 
     
     
         46 . The method of  claim 44 , wherein the differently branded credit cards products are each chosen from a group comprising VISA, MasterCard, American Express, Diners Club, Discover and private label. 
     
     
         47 . The method of  claim 43 , wherein the first and second presentation instruments are issued by a single credit card issuer. 
     
     
         48 . The method of  claim 43 , further comprising:
 displaying at least the first account to permit an operator to select how the first and second rewards are to be applied from the first and second accounts.   
     
     
         49 . The method of  claim 48 , further comprising:
 receiving from the operator a selection as to how the accrued awards are to be withdrawn from the first and second accounts.   
     
     
         50 . The method of  claim 49 , further comprising:
 receiving a selection of the accrued rewards to be withdrawn from the first account.   
     
     
         51 . The method of  claim 49 , further comprising:
 receiving a selection of the accrued rewards to be withdrawn from the second account.   
     
     
         52 . The method of  claim 43 , wherein the first and second rewards are each reward program awards points based upon purchases made at multiple different merchants. 
     
     
         53 . A computer system for processing the redemption of rewards, comprising:
 at least one processor;   at least one memory storage device for storing instructions executable by the processor that configure the computer system to:   maintain a first financial account, wherein the first financial account is associated with a first party and a first reward, wherein the first financial account is further associated with a first account number and a first presentation instrument having the first account number, and wherein the first reward is at least partially accrued based on use of the first presentation instrument;   receive at a computer a redemption request, wherein the redemption request is initiated by a second party having a second account, wherein the second account is associated with a second account number, a second presentation instrument and a second reward, wherein the second reward is at least partially accrued based on use of the second presentation instrument, and wherein the first and second presentation instruments comprise different presentation instrument products;   in response to the redemption request, determine that the redemption request exceeds the second reward and then identifying by the computer the first account and a relationship between the first account and the second party; and   satisfy the redemption request, wherein the redemption request is satisfied from at least a portion of the first reward in the first account and the second reward in the second account.   
     
     
         54 . The computer system of  claim 53 , wherein the first and second presentation instruments are credit cards, and wherein the different presentation instrument products are different credit card products. 
     
     
         55 . The computer system of  claim 54 , wherein the different credit card products are differently branded credit cards. 
     
     
         56 . The computer system of  claim 54 , wherein the differently branded credit cards products are each chosen from a group comprising, VISA, MasterCard, American Express, Diners Club, and Discover. 
     
     
         57 . The computer system of  claim 53 , wherein the first and second presentation instruments are issued by a single credit card issuer. 
     
     
         58 . The computer system of  claim 53 , wherein the computer system is further configured to:
 display at least the first account to permit an operator to select how the first and second rewards are to be applied from the first and second accounts.   
     
     
         59 . The computer system of  claim 58 , wherein the computer system is further configured to:
 receive from the operator a selection that the accrued awards are to be withdrawn from the first and second accounts.   
     
     
         60 . The computer system of  claim 59 , further comprising:
 receive a selection of the accrued rewards to be withdrawn from the first account.   
     
     
         61 . The method of  claim 59 , further comprising:
 receive a selection of the accrued rewards to be withdrawn from the second account.   
     
     
         62 . The computer system of  claim 53 , wherein the first and second rewards are each reward program awards points based upon purchases made at multiple different merchants.