Lorin A Tarr

US Patent:

20020128921, Sep 12, 2002

Filed:

Mar 16, 2001

Appl. No.:

09/810968

Inventors:

Lorin Tarr - Atlanta GA, US

International Classification:

G06F017/60

US Classification:

705/026000

Abstract:

A system and method facilitate electronic purchasing of an item selected for purchase. An available credit limit for the user is determined based upon a user account into which finds are periodically automatically deposited. The user account may be a payroll. The price of the selected item is determined and compared with the available credit limit. If the price is less than or equal to the available credit limit, the price is deducted from the available credit limit. Funds are automatically deducted from the user account at prescribed periods, until the amount of the price has been deducted. As funds are deducted from the user account, the amount of the deducted funds is added to the available credit limit. The available credit limit may also be determined based upon a charge account, and the user may designate whether to purchase the item using periodic deductions from the user account or by charging the price to the charge account. If the user designates to purchase the item by charging the price to the charge account, the price is deducted from the available credit limit. Upon payment by the user to the charge account, the amount of the payment is added to the available credit limit.