Method for establishing control over credit card transactions

• US 20050131808A1
• Filed: 12/10/2003
• Published: 06/16/2005
• Est. Priority Date: 12/10/2003
• Status: Abandoned Application

• Current Assignee: Edgar Villa
• Original Assignee: Edgar Villa
• Inventors: Villa, Edgar
• Application Number:
  US10/733,433
• Publication Number:
  US 20050131808A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method for controlling credit card transactions includes establishing a transaction supporting banking account, a credit limit, and an active account portion of the banking account. Credit card transactions are limited to the active account through valid requests. Each transaction includes, validating a user credit card prior to the transaction and then presenting, audibly or on screen; activity options including: Card Balance Inquiry, Credit Line Limit Inquiry, Transfer Amount, Transaction History, Account History, and Set Zero Balance. By selecting one of the options the user may display a balance in the active account; a credit limit and a balance in the active account; possible transfer amount choices, a list of card transaction amounts or a list of credit transfers into the active account with corresponding dates and times of execution, and may set the active account balance to zero.

Claims

1. A method for establishing control over credit card transactions, the method comprising the steps of:

establishing a transaction supporting banking account, a credit limit, and an active account portion of the banking account wherein, credit card transactions are limited to the active account portion through valid requests, wherein each transaction includes, validating a user credit card prior to the transaction;

presenting screen options to the user including;

Card Balance Inquiry, Credit Line Limit Inquiry, Transfer Amount, Transaction History, Account History, and Set Zero Balance; and

selecting one of the options through at least one of a touch sense screen and a keypad;

wherein,

a) for Card Balance Inquiry, displaying a balance in the active account;

b) for Credit Line Limit Inquiry, displaying a credit limit and a balance in the active account;

c) for Transfer Amount, displaying possible amount choices;

d) for Transaction History, displaying a list of card transaction amounts with corresponding dates and times of execution;

e) for Account History, displaying a list of credit transfers into the active account with corresponding dates and times of execution, and

f) for Set Zero Balance, setting the active account balance to zero and displaying that the active account balance is zero.

2. The method of claim 1 further comprising the steps of:

comparing the requested amount with the credit limit when Transfer Amount is selected;

displaying “

Credit line insufficient”

when the Transfer Amount exceeds the credit limit; and

displaying “

Requested amount transferred” and

a new active account balance when the credit limit exceeds the Transfer Amount.

3. The method of claim 2 further comprising the step of:

verification by the user prior to transfer of an accepted amount.

4. A method for establishing control over credit card transactions, the method comprising the steps of:

establishing a transaction supporting banking account, a credit limit, and an active account portion of the banking account wherein, credit card transactions are limited to the active account portion through valid requests, wherein each transaction includes, validating a user credit card prior to the transaction;

presenting audible options to the user including;

Card Balance Inquiry, Credit Line Limit Inquiry, Transfer Amount, Transaction History, Account History, and Set Zero Balance; and

selecting one of the options through a keypad;

wherein,

a) for Card Balance Inquiry, enunciating a balance in the active account;

b) for Credit Line Limit Inquiry, enunciating a credit limit and a balance in the active account;

c) for Transfer Amount, enunciating possible amount choices;

d) for Transaction History, enunciating a list of card transaction amounts with corresponding dates and times of execution;

e) for Account History, enunciating a list of credit transfers into the active account with corresponding dates and times of execution, and

f) for Set Zero Balance, setting the active account balance to zero and enunciating that the active account has been set to zero.

5. The method of claim 4 further comprising the steps of:

comparing the requested amount with the credit limit when Transfer Amount is selected;

enunciating “

Credit line insufficient”

when the Transfer Amount exceeds the credit limit; and

enunciating “

Requested amount transferred” and

a new active account balance when the credit limit exceeds the Transfer Amount.

6. The method of claim 5 further comprising the step of:

verification by the user prior to transfer of an accepted amount.

7. The method of claim 4 further comprising the step of placing an insignia on a credit card used with the method to indicate the that the card has a controlled credit limit under use.