Patent ID: 6353811
Filing Date: 2002-03-05
Classification: G06Q

Abstract:
A data processing system for managing and producing statements for a credit card account of a cardholder comprising:first means operable by the cardholder for electronically entering one or more sub-accounts, designated by the cardholder, to which expenditures charged to the credit card account are to be allocated, and said first means further including means for electronically transmitting said entered sub-accounts to a processing location at the time of each expenditure; second means for processing data for said credit card account including each of said designated sub-accounts; third means for storing said data on a storage medium; fourth means for processing said data, said processing including: (i) allocating said expenditure transactions to said one or more designated sub-accounts; and (ii) allocating finance charges among said one or more designated sub-accounts to which said finance charges are attributable; fifth means for processing said data, said processing including allocating payments made by the cardholder to said one or more designated sub-accounts; and sixth means for processing periodic statements, said processing including: (i) calculating said expenditure transactions, said finance charges, and said payments made by the cardholder; (ii) allocating said calculated expenditure transactions, said calculated finance charges and said calculated payments to said one or more designated sub-accounts; and (iii) generating the periodic statements including a report showing said calculated expenditure transactions, said calculated finance charges, and said calculated payments on both a sub-account basis and a cumulative basis for the credit card account.