Method and apparatus for monetizing personal consumer profiles by aggregating a plurality of consumer credit card accounts into one card

• US 20050125343A1
• Filed: 12/03/2004
• Published: 06/09/2005
• Est. Priority Date: 12/03/2003
• Status: Abandoned Application

• Current Assignee: Isaac F. Mendelovich
• Original Assignee: Isaac F. Mendelovich
• Inventors: Mendelovich, Isaac F.
• Application Number:
  US11/004,552
• Publication Number:
  US 20050125343A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/321 using wearable devices
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/357 Cards having a plurality of specified features
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A computer-implemented method of using one of a plurality of existing credit card accounts belonging to a consumer includes providing account data to a single service provider for a plurality of existing credit card accounts belonging to the consumer and providing the consumer with a compilation credit card associated with the plurality of existing credit card accounts of the consumer. the method also includes storing predefined preferences of the consumer regarding credit card selectivity, the consumer performing a credit card transaction and selecting one existing credit card account among the plurality of existing credit card accounts to which to charge the credit card transaction based on the stored predefined preferences of the consumer.

Claims

1. A computer-implemented method of using one of a plurality of existing credit card accounts belonging to a consumer, the method comprising:

providing account data to a single service provider for a plurality of existing credit card accounts belonging to the consumer;

providing the consumer with a compilation credit card associated with the plurality of existing credit card accounts of the consumer;

storing predefined preferences of the consumer regarding credit card selectivity;

the consumer performing a credit card transaction; and

selecting one existing credit card account among the plurality of existing credit card accounts to which to charge the credit card transaction based on the stored predefined preferences of the consumer.

2. The computer-implemented method according to claim 1, wherein the selection is performed using artificial intelligence to automatically determine which one existing credit card account to use based on the stored predefined preferences of the consumer.

3. The computer-implemented method according to claim 2, wherein the selection is also based on rewards currently being made available by the providers of the existing credit card accounts.

4. The computer-implemented method according to claim 1, wherein the compilation credit card is a portable electronic device having the plurality of existing credit card accounts of the consumer associated therewith, and

wherein the transaction step includes using the portable electronic device to perform the credit card transaction.

5. The computer-implemented method according to claim 4, wherein the portable electronic device is one of a cellular telephone, a wireless personal digital assistant (PDA) and a wireless watch.

6. The computer-implemented method according to claim 1, the predefined preferences of the consumer include one or more of a type of transaction, a vendor, a type of vendor, a time of the year when the compilation card is being used, a reward preference and a credit limit.

7. The computer-implemented method according to claim 1, wherein the compilation card includes a smart chip.

8. An apparatus that permits a consumer to access one of a plurality of existing credit card accounts belonging to the consumer, the apparatus comprising:

at least one credit card transaction network configured to route credit card transactions;

a compilation credit card being associated with the plurality of existing credit card accounts of the consumer, the compilation credit card having a compilation credit card number associated therewith; and

a compilation card service provider having a compilation card database that stores information for the plurality of existing credit card accounts belonging to the consumer and a consumer preferences database that stores predefined consumer preferences of the consumer, the compilation card service provider having access to the plurality of existing credit card accounts of the consumer, the compilation card service provider being accessible by the at least one credit card transaction network to receive credit card transaction requests based on the compilation credit card number and being configured to send credit card transaction approvals/denials,

one of the compilation credit card and the compilation card service provider being configured to select one existing credit card account among the plurality of existing credit card accounts to which to charge a particular credit card transaction based on the predefined preferences of the consumer.

9. The apparatus according to claim 8, wherein the compilation credit card is a portable electronic device being associated having the plurality of existing credit card accounts of the consumer associated therewith.

10. The apparatus according to claim 9, wherein the portable electronic device is one of a cellular telephone, a wireless personal digital assistant (PDA) and a wireless watch.

11. The apparatus according to claim 8, wherein the selection of the one existing credit card account is performed using artificial intelligence to automatically determine which one existing credit card account to use based on the predefined preferences of the consumer.

12. The apparatus according to claim 8, wherein the selection is also based on rewards currently being made available by providers of the existing credit card accounts.

13. The apparatus according to claim 8, wherein the predefined preferences of the consumer include one or more of a type of transaction, a vendor, a type of vendor, a time of the year when the compilation card is being used, a reward preference and a credit limit.

14. The apparatus according to claim 8, wherein the compilation card includes a smart chip.