METHOD AND SYSTEM FOR BALANCE ACCOUNT UTILIZATION

• US 20090271313A1
• Filed: 04/24/2008
• Published: 10/29/2009
• Est. Priority Date: 04/24/2008
• Status: Abandoned Application

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Chaudhari, Hardik, Sidana, Annupreet
• Application Number:
  US12/108,808
• Publication Number:
  US 20090271313A1
• 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 30/04 Billing or invoicing

Abstract

Methods and system for balance account utilization are described. In one embodiment, a balance account may be linked to a credit card account of a user. A determination of whether there is an amount due for the credit card account may be made. A determination of whether at least a minimum payment has been received for the amount due by a due date may be made. Funds from the balance account may be accessed based on the linking and a failure to receive at least the minimum payment by the due date. A balance payment may be processed on the due date for the credit card account with the funds from the balance account.

Claims

1. A method comprising:

linking a balance account to a credit card account of a user;

determining whether there is an amount due for the credit card account;

when there is an amount due, determining whether at least a minimum payment has been received for the amount due by a due date;

accessing finds from the balance account based on the linking and a failure to receive at least the minimum payment by the due date; and

processing a balance payment on the due date for the credit card account with the funds from the balance account.

2. The method of claim 1, further comprising:

verifying that the balance account includes the funds to meet the minimum payment for the amount due,

wherein the accessing of the funds is based on the linking, the failure to receive at least the minimum payment by the due date, and the verification.

3. The method of claim 1, wherein the accessing of the funds comprises:

sending a finds request to a financial institution associated with the balance account; and

receiving the funds from the financial institution in response to the sending of the funds.

4. The method of claim 1, further comprising:

receiving a linking request from a user,

wherein the linking of the credit card to the balance account is responsive to the receiving of the linking request.

5. The method of claim 1, further comprising:

establishing the credit card account for the user.

6. The method of claim 5, further comprising:

selecting an account type for the credit card account that includes a single annual percentage rate (APR).

7. The method of claim 1, wherein the balance account includes an electronic balance account, a savings account, a checking account, a money market account, or combinations thereof.

8. The method of claim 1, further comprising:

providing a notification to the user that the minimum payment has not been received by the due date.

9. The method of claim 1, further comprising:

receiving an override request from the user;

determining whether there is an additional amount due for the credit card account;

determining whether at least the minimum payment has been received for the additional amount due by the due date; and

penalizing the user based on the override request and a failure to receive at least the minimum payment for the additional amount by the due date.

10. The method of claim 1, further comprising:

determining whether there is an additional amount due for the credit card account;

determining whether at least the minimum payment has been received for the additional amount due by the due date;

determining whether the balance account includes the funds to meet the minimum payment for the additional amount due;

determining whether a late payment has been received within a time period; and

providing a lateness forgiveness notification to the user based on the additional amount due, a failure to receive the additional amount due by the due date, the balance account not including the funds to meet the minimum payment for the additional amount due, and that the late payment has not been received within the time period.

11. The method of claim 1, further comprising:

determining whether there is an additional amount due for the credit card account;

determining whether at least the minimum payment has been received for the additional amount due by the due date;

determining whether the balance account includes the funds to meet the minimum payment for the additional amount due;

determining whether a previous late payment was received within a time period; and

freezing the credit card account of the user based on the additional amount due, a failure to receive the additional amount due by the due date, the balance account not including the finds to meet the minimum payment for the additional amount due, and that the previous late payment was received within the time period.

12. The method of claim 11, further comprising:

providing a notification to the user responsive to the freezing of the credit card account.

13. The method of claim 1, further comprising:

receiving a request for credit card account establishment;

receiving a linking request; and

establishing the credit card account for the user including a single annual percentage rate (APR) for the user based on the linking.

14. The method of claim 13, wherein the establishing comprises:

establishing the credit card account including the single annual percentage rate (APR) and no additional fees for the user based on the linking.

15. The method of claim 14, further comprising:

receiving a de-linking request from a user; and

altering the credit card account to include multiple APR for the user based on the receiving of the de-linking request.

16. A machine-readable medium comprising instructions, which when implemented by one or more processors perform the following operations:

link a balance account to a credit card account of a user;

determine whether there is an amount due for the credit card account;

determine whether at least a minimum payment has been received for the amount due by a due date;

access funds from the balance account based on the link and a failure to receive at least the minimum payment by the due date; and

process a balance payment on the due date for the credit card account with the funds from the balance account.

17. The machine-readable medium of claim 16 further comprising instructions, which when implemented by one or more processors perform the following operations:

receive an override request from the user;

determine whether there is an additional amount due for the credit card account;

determine whether at least the minimum payment has been received for the additional amount due by the due date; and

penalize the user based on the override request and a failure to receive at least the minimum payment for the additional amount by the due date.

18. The machine-readable medium of claim 16 further comprising instructions, which when implemented by one or more processors perform the following operations:

determine whether there is an additional amount due for the credit card account;

determine whether at least the minimum payment has been received for the additional amount due by the due date;

determine whether the balance account includes the funds to meet the minimum payment for the additional amount due;

determine whether a late payment has been received within a time period; and

provide a lateness forgiveness notification to the user based on the additional amount due, a failure to receive the additional amount due by the due date, the balance account not including the funds to meet the minimum payment for the additional amount due, and that the late payment has not been received within the time period.

19. The machine-readable medium of claim 16 further comprising instructions, which when implemented by one or more processors perform the following operations:

determine whether there is an additional amount due for the credit card account;

determine whether at least the minimum payment has been received for the additional amount due by the due date;

determine whether the balance account includes the funds to meet the minimum payment for the additional amount due;

determine whether a late payment has been received within a time period; and

freeze the credit card account of the user based on the additional amount due, a failure to receive the additional amount due by the due date, the balance account not including the funds to meet the minimum payment for the additional amount due, and that the late payment has been received within the time period.

20. A system comprising:

a balance account linking module to link a balance account to a credit card account of a user;

an amount due determination module to determine whether there is an amount due for the credit card account;

a payment determination module to determine whether at least a minimum payment has been received for the amount due determined by the amount due determination module by a due date;

a funds access module to access funds from the balance account linked based on the linking by the balance account linking module and a failure to receive at least the minimum payment by the due date by the payment determination module; and

a balance payment processing module to processing a balance payment on the due date for the credit card account with the funds from the balance account linked by the balance account linking module.

21. The system of claim 20, further comprising:

an account establishment module to establish the credit card account for the user.

22. The system of claim 20, further comprising:

an account type selection module to select an account type for the credit card account that includes a single annual percentage rate (APR).