US5950179A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method and system for issuing a secured credit card
Assignee: NEW AMERICAN CAPITAL Inc
•
Filing: 1996-12-03
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Granted: 1999-09-07
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Expires: 2016-12-03
Abstract
Abstract A computer-implemented method for issuing a credit card to a customer who has difficulty qualifying for unsecured credit or who requests a secured credit card. A card request input is received indicating that a customer has made a request for a credit card, and, in response, a credit card account with an initial credit limit is created for the customer. The initial credit limit is stored by computer. A credit card us issued to the customer before receipt of an indication of a deposit to a savings account to secure the credit card. A balance of the savings account is periodically monitored by computer for an initial deposit, and a new credit limit is computed when the initial deposit has been made.
Inventors
- 👤 William B. Buchanan
- 👤 Dawn E. Greiner
- 👤 Charles S. Johnston
- 👤 Roger J. Van Duinen
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-04 18:54
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G06; G06Q; G06Q20/00; G06Q20/38; G06Q20/40; G06Q20/403; G06Q20/4037; G06Q40/00; G06Q40/02; G06Q40/03
Claims Analysis
Total Claims: 15
Claim 1
Independent Claim
148 words
A computer-implemented method for issuing a credit card to a customer who has difficulty qualifying for unsecured credit or who requests a secured credit card, comprising: receiving a card request input indicating that a customer has made a request for a credit card; creating a credit card account with an initial credit limit for the customer in response to the card request input; storing the initial credit limit by computer; issuing a credit card to the customer before receipt of an indication of a deposit to a savings account to secure the credit card; marking the account as unfulfilled when the credit card is issued; periodically monitoring by computer a balance of the savings account for an initial deposit; computing and storing a new credit limit when the initial deposit has been made; and marking the account as fulfilled after the savings account balance exceeds a predetermined value.
Claim 2
Dependent Claim
148 words
A computer-implemented method for issuing a credit card to a customer who has difficulty qualifying for unsecured credit or who requests a secured credit card, comprising: receiving a card request input indicating that a customer has made a request for a credit card; creating a credit card account with an initial credit limit for the customer in response to the card request input; storing the initial credit limit by computer; issuing a credit card to the customer before receipt of an indication of a deposit to a savings account to secure the credit card; marking the account as unfulfilled when the credit card is issued; periodically monitoring by computer a balance of the savings account for an initial deposit; computing and storing a new credit limit when the initial deposit has been made; and marking the account as fulfilled after the savings account balance exceeds a predetermined value.
Claim 3
Dependent Claim
32 words
The method of claim 1 wherein the card request input also indicates that the customer has made a promise to make a deposit in a savings account to secure the credit card.
Claim 4
Dependent Claim
41 words
The method of claim 1 further comprising: inhibiting reporting the issuance of the credit card to a credit bureau until the customer has either used the credit card, made a payment on the credit card, or has made the initial deposit.
Claim 5
Dependent Claim
40 words
The method of claim 1 further comprising: reporting the issuance of the credit card to a credit bureau when the customer has either used the credit card, made a payment on the credit card, or has made the initial deposit.
Claim 6
Dependent Claim
26 words
The method of claim 1 further comprising: passing the account from a tracking system to a secured credit card processing system when the account is fulfilled.
Claim 7
Dependent Claim
25 words
The method of claim 1 further comprising: closing the account if no deposit is made in the savings account within a predetermined amount of time.
Claim 8
Dependent Claim
23 words
The method of claim 1 wherein the holder of the credit card and the holder of the savings account are the same entity.
Claim 9
Dependent Claim
43 words
The method of claim 1 further comprising: entering an account number into an account number field in a database; entering the initial credit limit into a credit limit field in the database; and entering the new credit limit into the credit limit field.
Claim 10
Dependent Claim
17 words
The method of claim 1 further comprising generating a communication to the customer requesting an initial deposit.
Claim 11
Dependent Claim
19 words
The method of claim 9 wherein the step of generating a communication occurs after issuance of the credit card.
Claim 12
Dependent Claim
168 words
A computer-implemented method for issuing a credit card to a customer who has difficulty qualifying for unsecured credit or who requests a secured credit card, comprising: receiving a card request input indicating that a customer has made a request for a credit card; creating a credit card account with an initial credit limit for the customer in response to the card request input; storing the initial credit limit by computer; issuing a credit card to the customer before receipt of an indication of a deposit to a savings account to secure the credit card; marking the account as unfulfilled when the credit card is issued; periodically monitoring by computer a balance of the savings account for an initial deposit; marking the account as fulfilled after the savings account balance exceeds a predetermined value; and waiting until the customer has either used the credit card, made a payment on the credit card, or made the initial deposit to report the issuance of the credit card to a credit bureau.
Claim 13
Dependent Claim
168 words
A computer-implemented method for issuing a credit card to a customer who has difficulty qualifying for unsecured credit or who requests a secured credit card, comprising: receiving a card request input indicating that a customer has made a request for a credit card; creating a credit card account with an initial credit limit for the customer in response to the card request input; storing the initial credit limit by computer; issuing a credit card to the customer before receipt of an indication of a deposit to a savings account to secure the credit card; marking the account as unfulfilled when the credit card is issued; periodically monitoring by computer a balance of the savings account for an initial deposit; marking the account as fulfilled after the savings account balance exceeds a predetermined value; and waiting until the customer has either used the credit card, made a payment on the credit card, or made the initial deposit to report the issuance of the credit card to a credit bureau.
Claim 14
Dependent Claim
154 words
A computer-implemented method for issuing a credit card to a customer who has difficulty qualifying for unsecured credit or who requests a secured credit card, comprising: receiving a card request input indicating that a customer has made a request for a credit card; creating a credit card account with an initial credit limit for the customer in response to the card request input; storing the initial credit limit by computer; issuing a credit card to the customer before receipt of an indication of a deposit to a savings account to secure the credit card; marking the account as unfulfilled when the credit card is issued; periodically monitoring by computer a balance of the savings account for an initial deposit; marking the account as fulfilled after the savings account balance exceeds a predetermined value; and closing the credit card account if no deposit is made in the savings account within a predetermined amount of time.
Claim 15
Dependent Claim
154 words
A computer-implemented method for issuing a credit card to a customer who has difficulty qualifying for unsecured credit or who requests a secured credit card, comprising: receiving a card request input indicating that a customer has made a request for a credit card; creating a credit card account with an initial credit limit for the customer in response to the card request input; storing the initial credit limit by computer; issuing a credit card to the customer before receipt of an indication of a deposit to a savings account to secure the credit card; marking the account as unfulfilled when the credit card is issued; periodically monitoring by computer a balance of the savings account for an initial deposit; marking the account as fulfilled after the savings account balance exceeds a predetermined value; and closing the credit card account if no deposit is made in the savings account within a predetermined amount of time.
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2002-09-06 | 2003-03-08 | 2003-09-07 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2006-09-06 | 2007-03-08 | 2007-09-07 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2010-09-06 | 2011-03-08 | 2011-09-07 | $7700.00 | Window Closed / Lapsed |