Patent ID: 8452707

Claim:
A credit card payment system comprising: a. a zero-LOC card account having an associated zero-LOC card with a unique identification number and a zero line of credit wherein an issuer of said zero-LOC card assumes no credit risk thereon, said line of credit having a value of zero dollars ($0.00); b. said zero-LOC card account being independent of any underlying financial liability of a funding card account issued by a funding card account issuer, wherein said funding card account, if creditworthy, independently underwrites and transfers funds to said zero-LOC card account without administrative approval from said funding card account issuer, wherein said zero-LOC card account is funded by at least one funds transfer from said funding card account to provide a credit balance in said zero-LOC card account; c. a storage means appointed to store said identification number for said zero-LOC card; d. a computing means appointed to calculate said credit balance remaining and for approving or declining a payment to a merchant or a debit transaction performed using the said zero-LOC card; e. a communication means appointed to transmit and receive between said computing means and said sale or debit transaction said identification number, or a proxy, and a charge cost comprised of a price for said goods or services or debit transaction amount wherein said issuer assumes no credit risk when issuing said zero-LOC card to an individual or a small business with low or no creditworthiness.