Method and system for using multi-function cards for storing, managing and aggregating reward points

Abstract

A system and method for operating a reward points accumulation and redemption program wherein a user earns reward points from a plurality of independent reward points issuing entities, with each tracking the user's earned reward points in a user reward point account stored on a multi-function card (such as a frequent flyer account or a credit card loyalty account). The multi-function card is adapted to aggregate some or all of the user's earned reward points from the reward accounts and credit the aggregated points into a single reward exchange account on the multi-function card. The user may then select an item for purchase with the accumulated reward points from the multi-function card. The item is provided to the user in exchange for a subset or all of the reward points from the multi-function card.

1 - 34 . (canceled) 
     
     
         35 . A portable multi-function device comprising processing circuitry, program storage, and data memory; wherein
 a transaction application and a reward account associated with the transaction application are stored in the data memory, and   the processing circuitry is programmed via instructions in the program storage to:
 store in the reward account a set of rewards issued as a result of a first purchase transaction executed using the transaction application, 
 execute a second purchase transaction with a merchant using rewards from the reward account in combination with the transaction application as payment for an item from the merchant. 
   
     
     
         36 . The device of  claim 35  wherein the transaction application is a credit card application. 
     
     
         37 . The device of  claim 35  wherein the transaction application is a debit card application. 
     
     
         38 . The device of  claim 35 , wherein the rewards stored in the reward account comprise reward points. 
     
     
         39 . The device of  claim 35 , wherein the rewards stored in the reward account comprise frequent flyer miles. 
     
     
         40 . The device of  claim 35 , wherein the rewards stored in the reward account comprise a rebate. 
     
     
         41 . The device of  claim 35 , wherein the rewards stored in the reward account comprise a coupon. 
     
     
         42 . The device of  claim 35  wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and wherein the processing circuitry selects the transaction account for use as a default transaction account in the second purchase transaction by referencing a user profile. 
     
     
         43 . The device of  claim 42  wherein the user profile is stored in the data memory. 
     
     
         44 . The device of  claim 42  wherein the default transaction account is associated with the item in the second purchase transaction. 
     
     
         45 . The device of  claim 42  wherein the default transaction account is associated with the merchant in the second purchase transaction. 
     
     
         46 . The device of  claim 35  further comprising user input circuitry, wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and wherein the processing circuitry selects the transaction account for use in the second purchase transaction by referencing a user selection made via the user input circuitry. 
     
     
         47 . The device of  claim 46  wherein the user input circuitry comprises a button. 
     
     
         48 . The device of  claim 35  wherein the device is a smart card. 
     
     
         49 . The device of  claim 35  wherein the device is a peripheral device. 
     
     
         50 . A method of using a portable multi-function device comprising
 the portable multi-function device storing in a data memory a transaction application and a reward account associated with the transaction application,   the portable multi-function device storing in the reward account a set of rewards issued as a result of a first purchase transaction executed using the transaction application, and   the portable multi-function device executing a second purchase transaction with a merchant using rewards from the reward account in combination with the transaction application as payment for an item from the merchant.   
     
     
         51 . The method of  claim 50  wherein the transaction application is a credit card application. 
     
     
         52 . The method of  claim 50  wherein the transaction application is a debit card application. 
     
     
         53 . The method of  claim 50 , wherein the rewards stored in the reward account comprise reward points. 
     
     
         54 . The method of  claim 50 , wherein the rewards stored in the reward account comprise frequent flyer miles. 
     
     
         55 . The method of  claim 50 , wherein the rewards stored in the reward account comprise a rebate. 
     
     
         56 . The method of  claim 50 , wherein the rewards stored in the reward account comprise a coupon. 
     
     
         57 . The method of  claim 50  wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and further comprising the step of the processing circuitry selecting the transaction account for use as a default transaction account in the second purchase transaction by referencing a user profile. 
     
     
         58 . The method of  claim 57  wherein the user profile is stored in the data memory. 
     
     
         59 . The method of  claim 57  wherein the default transaction account is associated with the item in the second purchase transaction. 
     
     
         60 . The method of  claim 57  wherein the default transaction account is associated with the merchant in the second purchase transaction. 
     
     
         61 . The method of  claim 50  wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and wherein the processing circuitry selects the transaction account for use in the second purchase transaction by referencing a user selection made via user input circuitry on the device. 
     
     
         62 . The method of  claim 61  wherein the user input circuitry comprises a button. 
     
     
         63 . The method of  claim 50  wherein the device is a smart card. 
     
     
         64 . The method of  claim 50  wherein the device is a peripheral device.