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Method and apparatus for minimizing credit card fraud

  • US 6,188,309 B1
  • Filed: 01/07/1998
  • Issued: 02/13/2001
  • Est. Priority Date: 01/07/1998
  • Status: Expired due to Term
First Claim
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1. An intelligent credit card comprising:

  • a keypad;

    a power source;

    a magnetic strip encoded with a predetermined credit card number, wherein said credit card number is readable from said magnetic strip only when said magnetic strip is excited by said power source; and

    a processor coupled to the keypad, the magnetic strip and the power source, wherein said processor causes said magnetic strip to be excited by said power source for a predetermined period of time when the processor determines that a correct Personal Identification Number has been entered at the keypad.

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