Method and apparatus for a no pre-set spending limit transaction card

Method and apparatus for a no pre-set spending limit transaction card

A method and apparatus are provided for a no pre-set spending limit transaction card with features and attributes of both a credit card and a charge card, including an overlimit spend feature and an associated communicated line of credit. The transaction card may carry a balance like a credit card a...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: KHATRI SUBHASH C, AZIMI-POUR CAROLINE M, JIN KEYE G, WONG KAREN L, MERLI LUIGI E, JUBITZ FRED, NDONG JEAN-PAUL D, MUKHERJEE JOYA A, PARIKH LEENA H, CHATTERJEE PRIYO B, POLYCARPE LUCKNER B
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
CHECKING-DEVICES
COIN-FREED OR LIKE APPARATUS
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:A method and apparatus are provided for a no pre-set spending limit transaction card with features and attributes of both a credit card and a charge card, including an overlimit spend feature and an associated communicated line of credit. The transaction card may carry a balance like a credit card and may require that a card user pay down the balance carried forward to the line of credit subsequent to the end of each billing cycle. When the user has reached or exceeded the communicated line of credit, each subsequent transaction request for a new transaction by the user is evaluated on a case-by-case basis by a process that includes execution an overlimit spend authorization logic or process.