NextCard Wins Patent for Online Offers System

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Online credit card issuer NextCard Inc. has received its first patent, covering its proprietary online credit underwriting and approval system.


The company's system allows it to use credit bureau data to present offers based on balance transfers from the applicant. The system can generate multiple offers based on credit bureau data, applicant income and existing balances in other credit accounts.


NextCard said its system differs from other online credit approval systems in that it automatically checks an applicant's credit history and makes decisions in real time.


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