Children's credit or debit card system

• US 5,953,710 A
• Filed: 10/09/1996
• Issued: 09/14/1999
• Est. Priority Date: 10/09/1996
• Status: Expired due to Fees

• Current Assignee: Stephen S. Fleming
• Original Assignee: Stephen S. Fleming
• Inventors: Fleming, Stephen S.
• Primary Examiner(s): MacDonald, Allen R.
• Assistant Examiner(s): CAUDLE, PENNY L
• Application Number:
  US08/727,979
• Time in Patent Office: 1,070 Days
• Field of Search: 705/38, 705/35, 705/39, 235/380, 902/26
• US Class Current: 705/38
• 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 20/2295 Parent-child type, e.g. where parent has control on child rights
• CPC Class Codes: G06Q 20/3555 Personalisation of two or more cards
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

Methods and credit or debit card systems are disclosed that allow the available credit to be determined by someone other than the card issuer and that allow a limit to be set on the number of expenditures that can be made. The methods and systems can be used to provide a mechanism for supervising credit or debit card usage. Methods and systems are disclosed which include a child'"'"'s credit card account linked to a parent'"'"'s credit or debit card account. The parent may change the child'"'"'s available credit without changing the total combined available credit for the child'"'"'s and the parent'"'"'s accounts. In addition, an expenditure counter figure associated with the child'"'"'s account is disclosed which can be used by the parent to enable the child to make an unlimited number of purchases, a limited number of purchases, or no purchases. The parent may make a single payment for both the child'"'"'s and the parent'"'"'s credit card accounts. The methods and systems disclosed may be used outside of the parent/child context whenever supervision is required. They may also be used by a single individual to provide limited credit card usage in less secure environments.

Claims

1. A computer-implemented method of supervising credit or debit card account usage by selectively altering available credit, comprising the steps of:

a) providing at least one first credit card account remotely disposed from at least one first credit card, wherein the first credit card account is issued by an account issuer to a first account holder and has an associated available credit figure;

b) providing at least one second credit or debit card account, remotely disposed from at least one second credit card, wherein the second credit or debit card account is issued to a second account holder and has an associated available credit figure, the at least one first credit card account and the at least one second credit or debit card account being concurrently usable;

c) receiving a request from a requestor to increase the available credit figure associated with the first account;

d) determining whether the request to change the available credit figure associated with the first account will be approved by comparing the amount of the request with a figure established by the account issuer, wherein the figure established by the account issuer is the available credit figure associated with the second account; and

e) if the amount of the request is less than or equal to the available credit figure associated with the second account, approving the request, wherein approving the request comprises;

e.1) increasing the available credit figure associated with the first account by the amount of the request, and

e.2) decreasing the available credit figure associated with the second account by the amount of the request.

4. The method of claim 1, further comprising the step of supplying an approval message if the available credit figure associated with the second account is greater than or equal to the amount of the request and supplying a rejection message if the available credit figure associated with the second account is less than the amount of the request.

5. The method of claim 1, further comprising the step of providing an account balance figure associated with the first account and wherein the account balance figure does not change as a result of the change in the available credit figures.

6. The method of claim 1, further comprising the step of providing an account balance figure associated with the second account and wherein the account balance figure does not change as a result of the change in the available credit figures.

7. The method of claim 1, wherein the requester is the second account holder.

8. The method of claim 7, further comprising the step of requiring the requester to provide identifying datum.

9. The method of claim 8, wherein the identifying datum is a second account number and a PIN code.

10. The method of claim 7, wherein the first account holder is the second account holder.

11. The method of claim 7, wherein the first account holder is a different entity from the second account holder.

12. The method of claim 11, wherein the first account holder is a child and the second account holder is a parent.

13. The method of claim 7, further comprising the step of creating an association linking the first account and the second account wherein the second account has authority to request an increase in the available credit figure associated with the first account.

14. The method of claim 7, further comprising the step of providing an expenditure counter associated with the first account.

15. The method of claim 14, further comprising the steps of:

a) receiving a request from the second account holder to enable the first account; and

b) setting the expenditure counter associated with the first account not equal to zero.

16. The method of claim 15, further comprising, the steps of:

a) determining whether the expenditure counter associated with the first account is equal to zero;

b) providing a saved available credit figure associated with the first account; and

c) if the expenditure counter associated with the first account is equal to zero, setting the available credit figure associated with the first account equal to the saved available credit figure associated with the first account.

17. The method of claim 14, further comprising the steps of:

a) receiving a request from the second account holder to disable the first account;

b) setting the expenditure counter associated with the first account to zero;

c) providing a saved available credit figure associated with the first account;

d) setting the saved available credit figure associated with the first account equal to the available credit figure associated with the first account; and

e) setting the available credit figure associated with first account equal to zero.

18. The method of claim 14, further comprising the steps of:

a) receiving a request from the second account holder to limit the number of expenditures enabled for the first account to an expenditure number; and

b) setting the expenditure counter associated with the first account to the expenditure number.

19. The method of claim 18, further comprising the steps of:

a) determining whether the expenditure counter associated with the first account is equal to zero;

b) providing a saved available credit figure associated with the first account; and

c) if the expenditure counter associated with the first account is equal to zero, setting the available credit figure associated with the first account equal to the saved available credit figure associated with the first account.

2. A computer-implemented method of allowing supervised credit or debit card usage by selectively altering available credit, comprising the steps of:

a) providing at least one first credit card account, wherein the first credit card account is issued by an account issuer to a first account holder and has an associated available credit figure;

b) providing at least one second credit or debit card account, remotely disposed from the at least one second credit card, wherein the second credit or debit card account is issued to second account holder and has an associated available credit figure, the at least one first credit card account and the at least one second credit or debit card account being concurrently usable;

c) receiving a request from a requestor to change the available credit figure associated with the first account, wherein the request to change the available credit figure is a request to increase the available credit figure associated with the first account;

d) providing a total available credit figure associated with the first and second accounts;

e) determining whether the request to change the available credit figure associated with the first account will be approved by comparing the amount of the request with a figure established by the account issuer, wherein the figure established by the account issuer is the total available credit figure; and

f) if the amount of the request is less than or equal to the figure established by the account issuer, approving the request, wherein approving the request comprises;

f.1) increasing the available credit figure associated with the first account by the amount of the request, and

f.2) decreasing the available credit figure associated with the second account by the amount of the request.

3. A computer-implemented method of allowing supervised credit or debit card usage by selectively altering available credit, comprising the steps of:

a) providing at least one first credit card account, wherein the first credit card account is issued by an account issuer to a first account holder and has an associated available credit figure;

b) providing at least one second credit or debit card account, remotely disposed from the at least one second credit card, wherein the second credit or debit card account is issued to a second account holder and has an associated available credit figure, the at least one first credit card account and the at least one second credit or debit card account being concurrently usable;

c) receiving a request from a requestor to change the available credit figure associated with the first account, wherein the request to change the available credit figure is a request to decrease the available credit figure associated with the first account;

d) determining whether the request to change the available credit figure associated with the first account will be approved by comparing the amount of the request with a figure established by the account issuer, wherein the figure established by the account issuer is the available credit figure associated with the first account; and

e) if the amount of the request is less than or equal to the available credit figure associated with the first account, approving the request, wherein approving the request comprises;

e.1) decreasing the available credit figure associated with the first account by the amount of the request, and

e.2) increasing the available credit figure associated with the second account by the amount of the request.

20. A method of supervising credit or debit card account usage by selectively disabling in account, comprising the steps of:

a) providing at least one first credit card account remotely disposed from at least one first credit card, wherein the first credit card account is issued by an account issuer to a first account holder

b) providing at least one second credit or debit card account, remotely disposed from the at least one second credit card, wherein the second credit or debit card account is issued to a second account holder and has an associated available credit figure, the at least one first credit card account and the at least one second credit or debit card account being concurrently usable;

c) creating an association linking the first account and the second account wherein the second account holder has authority to disable the first account;

d) receiving a request from the second account holder to temporarily disable the first account; and

e) temporarily disabling the first account.

21. A system for maintaining credit or debit card account records, comprising:

a) a computer including at least one processor operatively connected to a storage device, the storage device being configured for storing credit or debit card account records wherein each account record is assigned to an account holder, the storage device remotely disposed from credit or debit card associated with the credit or debit account records;

b) at least one first credit or debit card account record, each first account record assigned to a first account holder;

c) means for a requestor to remotely enable and disable the first account;

d) at least one second credit or debit card account record linked to the first account record, each second account record assigned to a second account holder, the at least one first first credit card account and the at least one second credit or debit card account being concurrently usable; and

e) wherein the requestor is the second account holder.

22. The system of claim 21, wherein the first account holder is the second account holder.

23. The system of claim 21, wherein the first account holder is a different entity from the second account holder.

24. The system of claim 21, further comprising means for the requester to set the value of an expenditure counter associated with the first account record.

25. A system for maintaining credit or debit card account records, comprising;

a) a computer including at least one processor operatively connected to a storage device, the storage device being configured for storing credit or debit card account records wherein each account record is assigned to an account holder, the storage device remotely disposed from credit or debit cards associated with the credit or debit account records;

b) at least one first credit card account record, each first account record assigned to a first account holder;

c) at least one second credit or debit card account record linked to the first account record, each second account record assigned to a second account holder, the at least one first credit card account and the at least one second credit or debit card account being concurrently usable;

d) means for a requestor to change the value of the available credit figure associated with the first account, wherein the available credit figure remains denominated in a sinele unit of denomination, and wherein the requestor is the second holder.

26. The system of claim 25, wherein the first account holder is the second account holder.

27. The system of claim 25, wherein the first account holder is a different entity from the second account holder.

28. A computer-based method for processing a request to approve an expenditure using a credit or debit card, wherein the credit card is issued by an account issuer to a first account holder and is associated with a first credit card account, comprising the steps of:

a) receiving a request to approve the expenditure;

b) accessing an available credit figure associated with the first account wherein the available credit figure is determined by an entity other than the account issuer;

c) comparing the available credit figure with the amount of the expenditure wherein the available credit figure is determined by a second account holder, and wherein a second account and the first account are concurrently usable by the second account holder and the first account holder, respectively; and

d) supplying an approval or rejection of the expenditure.

29. The method of claim 28, wherein the approval is supplied if the available credit figure is greater than or equal to the amount of the expenditure, and the rejection is supplied if the available credit figure is less than the amount of the expenditure.

30. The method of claim 28, further comprising the step of accessing an expenditure counter, associated with the first account, which limits the number of expenditures allowed for the first account holder.

31. The method of claim 30, wherein the expenditure counter is determined by an entity other than the account issuer.

32. The method of claim 30, wherein the expenditure counter is determined by a second account holder.

33. The method of claim 31, further comprising the step of, if an approval of the expenditure is supplied, updating the expenditure counter to reflect the approval of the expenditure.

34. A computer-based method for processing a request to approve an expenditure using a credit or debit card, wherein the credit or debit card is issued by an account issuer to a first account holder and is associated with a first credit or debit card account, comprising the steps of:

a) receiving a request to approve the expenditure;

b) accessing an expenditure counter associated with the first account which limits the number of expenditures allowed for the account holder wherein the expenditure counter figure is determined by a second account holder, and wherein a second account and the first account are concurrently usable by the second account holder and the first account holder, respectively;

c) supplying an approval or rejection of the expenditure.

35. The method of claim 34, further comprising the step of, if an approval of the expenditure is supplied, updating the expenditure counter to reflect the approval of the expenditure.

36. A system for receiving requests to approve a credit or debit card expenditure by a first account holder, assessing whether the expenditure will be approved or rejected, and providing an approval or rejection indication, comprising:

a) a computer including at least one processor configured to access a first credit or debit card account assigned to a first account holder, the computer remotely disposed from the first credit or debit card, the processor further configured to access a second credit or debit card account assigned to a second account holder; and

b) a communications device configured for communicating a request to approve the expenditure to the computer;

wherein the processor is configured to assess whether the expenditure will be approved or rejected by accessing an available credit figure associated with the first account and determined by an entity other than the account issuer, the processor further configured to approve or reject the expenditure responsive to the assessment, wherein the value of the available credit figure assigned to the first account is determined by the second account holder.

37. The system of claim 36, wherein the processor is configured to approve the expenditure if the available credit figure is greater than or equal to the amount of the expenditure and to reject the expenditure if the available credit figure is less than the amount of the expenditure.

38. A system for receiving requests to approve a credit or debit card expenditure by a first account holder, assessing whether the expenditure will be approved or rejected, and providing an approval or rejection indication, comprising:

a) at least one first credit or debit card account, each first account assigned to a first account holder;

b) at least one second credit or debit card account, each second account assigned to a second account holder;

c) a computer including at least one processor configured to access the first and second accounts, the computer remotely disposed from the credit or debit card of the first account holder, the computer further configured to provide concurrent use of the first and second credit or debit card accounts; and

d) a communications device configured for communicating a request to approve the expenditure to the computer;

wherein the processor is configured to assess whether the expenditure will be approved or rejected by accessing an expenditure counter associated with the first account, the processor further configured to approve or reject the expenditure responsive to the assessment, and wherein the expenditure counter is determined by the second account holder.