Patent ID: 7575154
Filing Date: 2009-08-18
Classification: G06Q

Abstract:
1. A method for issuing and managing at least one credit card account, the method comprising the steps of: receiving information associated with a first credit card account of a customer in response to an initiation of a transaction for a particular institution; receiving an indication that the customer chooses to open a second credit card account associated with the particular institution wherein the second credit card account is independent of the first credit card account; verifying the first credit card account for an amount of the transaction and holding a charge for the amount of the transaction against the first credit card account as security for the transaction in response to the indication that the customer chooses to open the second credit card account; upon verification, providing the item to the customer at a first period of time; retrieving at a terminal of the particular institution a first customer record from a database of the particular institution using the information associated with the first credit card account; determining if the customer qualifies for the second credit card account based on the first customer record wherein the determining is performed in response to the indication that the customer chooses to open the second credit card account; issuing the second credit card account to the customer if the customer qualifies; and charging the amount of the transaction to the second credit card account at a later second period of time, wherein the first credit card account is not charged.