Methods, systems and articles of manufacture for managing penalty fees for financial accounts
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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N/A
Issued Date -
N/A
app pub date -
May 21, 2008
filing date -
Oct 17, 2001
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
Methods, systems, and articles of manufacture are disclosed for providing a payment plan to credit card customers. A customer may be offered membership into a payment plan that allows the customer to pay past due penalty fees included in a balance associated With the customer's credit card account. Once a customer is member of the plan, a new segment is created for the customer's account. The penalty fees are removed from the balance and applied to a balance associated with the new segment. Thereafter, each time payment is received for the financial account, the payment may be applied in whole or part to the new segment's balance until it reaches zero. Subsequent payments are applied to the balance of the financial account. In one configuration, the financial account may not be charged any penalty fees while the customer is a member of the plan.
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