Patent ID: 8442911
Filing Date: 2013-05-14
Classification: G06Q

Abstract:
1. A system for charging fees to a card holder of a credit card account comprising: a memory; and a number of processors configured to execute computer readable instructions stored in the memory and executed to: determine that the card holder has opted in for the credit card account; calculate the prepaid interest amount based on: charge the prepaid interest amount to the credit card account in lieu of charging interest on an actual balance of the account; determine whether the prepaid interest amount has been received; responsive to a determination that the prepaid interest amount has been received, charging the card holder only an unpaid balance of the account with no interest; responsive to a determination that the prepaid interest amount has not yet been received, charging the card holder the unpaid balance with interest; and allow the card holder an option to start charging interest on the actual balance of the account instead of the prepaid interest amount after a pre-determined term has expired.