Credit card account shadowing

• US 8,538,872 B1
• Filed: 03/27/2012
• Issued: 09/17/2013
• Est. Priority Date: 06/20/2008
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: Voutour, Teddy Joseph Edmond, Oakes, Charles Lee III
• Primary Examiner(s): RANKINS, WILLIAM E
• Application Number:
  US13/431,603
• Time in Patent Office: 539 Days
• Field of Search: 705/35, 705/38, 705/40
• 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 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

Account shadowing is provided such that when a charge is made on a first credit card (e.g., a high interest rate credit card) of a user, a transfer of funds is made from a second credit card (e.g., a low interest rate credit card) of the user to pay the charge made to the first credit card. This may transfer the balance from a user'"'"'s high interest rate credit card to a user'"'"'s low interest rate credit card. In this manner, the user may receive the reward incentives of a high interest rate credit card while using a low interest rate credit card to satisfy balances due.

Claims

1. An account shadowing method, wherein a non-transitory computer-readable medium comprising computer-readable instructions that, when executed, perform the method, comprising:

selecting a predetermined type of transaction data to allow a charge associated with the predetermined type to be paid by a transfer of a balance, wherein the predetermined type of transaction data is a transaction above a threshold value;

determining a charge on a first account of a user is associated with the predetermined type of transaction data via a computing device;

determining a balance on the first account of the user for the predetermined type of transaction data via the computing device; and

transferring the balance on the first account of the user for the predetermined type of transaction data to a second account.

2. The method of claim 1, wherein determining the balance on the first account comprises monitoring the first account continuously or periodically.

3. The method of claim 1, wherein the predetermined type of transaction data is associated with a particular vendor.

4. The method of claim 1, wherein the predetermined type of transaction data is associated with a particular product.

5. The method of claim 1, wherein the first account provides an incentive for making the charge on the first account.

6. The method of claim 1, wherein the method includes determining the charge on the first account of the user is associated with the predetermined type of transaction data and determining the balance on the first account of the user for the predetermined type of transaction data using an aggregator.

7. A non-transitory computer-readable medium comprising computer-readable instructions for credit account shadowing, said computer-readable instructions when executed cause a computing device to:

determine a balance on a first credit account of a user is to be paid by a transfer of the balance, wherein the first credit account provides an incentive for making a charge on the first credit account;

determine an amount of available credit on a second credit account of the user;

transfer a first portion of the balance from the first credit account to the second credit account, wherein the first portion of the balance from the first credit account is an amount that is less than or equal to the amount of available credit on the second credit account; and

pay a second portion of the balance from the first credit account using another funding source, wherein the second portion of the balance from the first credit account is an amount that is a difference between the balance from the first credit account and the first portion of the balance from the first credit account that was transferred to the second credit account.

8. The non-transitory computer-readable medium of claim 7, wherein the instructions that determine the balance on the first credit account comprise instructions that monitor the first credit account continuously or periodically.

9. The non-transitory computer-readable medium of claim 7, wherein the another funding source is a checking account.

10. The non-transitory computer-readable medium of claim 7, further comprising instructions that transfer a third portion of the balance from the first credit account to a third credit account of the user, wherein the third portion of the balance from the first credit account is an amount that is a difference between the balance from the first credit account and a sum of the first and second portions of the balance from the first credit account.

11. The non-transitory computer-readable medium of claim 7, wherein the another funding source is a savings account.

12. The non-transitory computer-readable medium of claim 7, wherein the another funding source is an equity line of credit.

13. The non-transitory computer-readable medium of claim 7, wherein the second credit account has a lower interest rate than the first credit account.

14. A non-transitory computer-readable medium comprising computer-readable instructions for credit card account shadowing, said computer-readable instructions when executed cause a computing device to:

select a predetermined type of transaction data to allow a charge associated with the predetermined type to be paid by a transfer of a balance, wherein the predetermined type of transaction data is associated with a particular vendor;

determine the charge on a first credit card of a user is associated with the predetermined type of transaction data;

determine a balance on the first credit card of the user for the predetermined type of transaction data;

determine an amount of available credit on a second credit card of the user;

transfer a first portion of the balance from the first credit card to the second credit card, wherein the first portion of the balance from the first credit card is an amount that is less than or equal to the amount of available credit on the second credit card; and

pay a second portion of the balance from the first credit card using another funding source, wherein the second portion of the balance from the first credit card is an amount that is a difference between the balance from the first credit card and the first portion of the balance from the first credit card that was transferred to the second credit card.

15. The non-transitory computer-readable medium of claim 14, further comprising instructions that transfer a third portion of the balance from the first credit card to a third credit card of the user, wherein the third portion of the balance from the first credit card is an amount that is a difference between the balance from the first credit card and a sum of the first and second portions of the balance from the first credit card.

16. The non-transitory computer-readable medium of claim 14, wherein the another funding source is a savings account.

17. The non-transitory computer-readable medium of claim 14, wherein the another funding source is an equity line of credit.