Lucy Corr Village - Chesterfield Court House, VA Bistro Lead CookJefferson Hotel - Richmond, VA Sous ChefO'Toole's - Richmond, VA Lead CookRichmond's longest operating family restaurants - Richmond, VA Cook
Systems And Methods For Managing Balance Transfer Accounts
US Patent:
2004000, Jan 1, 2004
Filed:
Jul 1, 2002
Appl. No.:
10/186137
Inventors:
Sarah Timmerman - Richmond VA, US Aaron Fidler - Washington DC, US Kenneth Moore - Richmond VA, US
International Classification:
G06F017/60
US Classification:
705/039000
Abstract:
Systems and methods consistent with the present invention manage balance transfer accounts associated with customer pre-existing debt accounts. The system first creates a balance transfer account for the customer, which may include opening the balance transfer account to allow the customer to activate it. The method then determines whether a payment to the balance transfer account received from the customer meets a payment threshold criteria. If the received payment meets the payment threshold criteria, then a credit bureau is notified of the balance transfer account and the balance transfer account remains open. If the received payment does not meet the payment threshold criteria, then the balance transfer account is closed without notification to the credit bureau.