| 摘要 |
In the present invention, consumers are issued a credit card that is secured by the consumer's vehicle. This new card will combine all the best features and benefits of a traditional credit card, along with the higher loan amounts of a traditional consumer loan and the ease of origination, funding, and security of a car title loan. Additional benefits include open-ended terms instead of traditional fixed installment loan terms, lower monthly payments, higher credit limits, and flexible, revolving lines of credit. No other bank or lender currently issues a credit card secured by a customer's vehicle. While there are a number of banks that offer secured credit cards, none of them are secured with a cardholder's vehicle, and while there are a number of conventional consumer, auto, and car title lenders that make loans secured by a customer's vehicle, none of them issue credit cards.
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