Multiple credit card management system
First Claim
1. A method for coordinating the management of credit between an Internet user and a plurality of lending institutions via the Internet, comprising the steps of:
- receiving account information on at least one credit account from the plurality of lending institutions or the Internet user;
storing the account information in a database;
receiving selection criteria from the Internet user specifying conditions under which each of the at least one credit account is authorized to be used;
receiving from a merchant a request for authorization of a transaction;
processing the request including selecting one of the at least one credit account to be used for the transaction;
transmitting the account information corresponding to the selected account to the lending institution associated with the selected account;
receiving an authorization status from the lending institution;
selecting a different account to request authorization from the lending institution associated with the selected account if the authorization status is a denial; and
transmitting the authorization status to the merchant.
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Accused Products
Abstract
According to one aspect of the invention, a method for coordinating the management of credit between an Internet user and a plurality of lending institutions via the Internet, includes the steps of receiving account information on at least one credit account from the plurality of lending institutions or the Internet user, storing the account information in a database, receiving selection criteria from the Internet user specifying conditions under which each of the at least one credit account is authorized to be used, receiving from a merchant a request for authorization of a transaction, processing the request including selecting one of the at least one credit account to be used for the transaction, transmitting the account information corresponding to the selected account to the lending institution associated with the selected account, receiving an authorization status from the lending institution, selecting a different account to request authorization from the lending institution associated with the selected account if the authorization status is a denial, and transmitting the authorization status to the merchant.
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Citations
20 Claims
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1. A method for coordinating the management of credit between an Internet user and a plurality of lending institutions via the Internet, comprising the steps of:
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receiving account information on at least one credit account from the plurality of lending institutions or the Internet user;
storing the account information in a database;
receiving selection criteria from the Internet user specifying conditions under which each of the at least one credit account is authorized to be used;
receiving from a merchant a request for authorization of a transaction;
processing the request including selecting one of the at least one credit account to be used for the transaction;
transmitting the account information corresponding to the selected account to the lending institution associated with the selected account;
receiving an authorization status from the lending institution;
selecting a different account to request authorization from the lending institution associated with the selected account if the authorization status is a denial; and
transmitting the authorization status to the merchant. - View Dependent Claims (2, 3)
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4. A network system for coordinating the management of credit between an Internet user and a plurality of lending institutions via the Internet, comprising:
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a database for storing and receiving account information;
means for receiving account information on at least one credit account from the plurality of lending institutions or the Internet user;
means for storing the account information in a database;
means for receiving selection criteria from the Internet user specifying conditions under which each of the at least one credit account is authorized to be used;
means for receiving from a merchant a request for authorization of a transaction;
means for processing the request including selecting one of the at least one credit account to be used for the transaction;
means for transmitting the account information corresponding to the selected account to the lending institution associated with the selected account;
means for receiving an authorization status from the lending institution;
means for selecting a different account to request authorization from the lending institution associated with the selected account if the authorization status is a denial; and
means for transmitting the authorization status to the merchant. - View Dependent Claims (5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A network system for coordinating the management of credit between an Internet user and a plurality of lending institutions via the Internet, comprising:
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a database for storing and receiving account information;
a magstripe writing device configured to write data to a magstripe on a card corresponding to a particular account;
means for receiving account information on at least one credit account from the plurality of lending institutions or the Internet user;
means for storing the account information in a database; and
means for receiving selection criteria from the Internet user specifying which credit account information is to be written by the magstripe writing device on the card. - View Dependent Claims (17, 18, 19, 20)
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Specification