Bank of America Corporation

James K Macklin

Erik Stephen Ross

David Neil Joffe

Hans Dirk Schumacher

According to one or more aspects, financial transactions may be conducted using a financial card product, such as a charge card secured through a security interest in an asset. The asset may be the available balance in an interest-bearing checking account (e.g., a DDA account), a brokerage account, or other type of account that may hold funds/assets. The available balance may be monitored in real-time (or near real-time) such that the available spending limit on the secured charge card may be floating (e.g., dynamic). In one example, backend systems may be configured to monitor in real-time an available balance in security accounts in order to prevent spending over the amount of secured funds. In addition, in some examples, more than one account may be associated with a secured charge card such that the total spending limit on the card is greater. The total spending limit may be calculated through arithmetic (e.g., sum) of the available balance of each of the associated accounts.

Secured charge card

According to one or more aspects, financial transactions may be conducted using a financial card product, such as a hybrid secured credit card that permits transactions up to a predetermined total credit limit, and then allows transactions in excess using a security interest in assets. The asset may be the available balance in an interest-bearing checking account (e.g., a DDA account), a brokerage account, or other type of account that may hold funds/assets. The available balance of the asset(s) may be monitored in real-time (or near real-time) such that the available spending limit on the hybrid secured credit card may be floating (e.g., dynamic). In one example, backend systems may be configured to monitor in real-time an available balance in security accounts in order to prevent spending over the amount of secured funds. In addition, in some examples, more than one account may be associated with the card such that the total spending limit on the card is greater. The total spending limit may be calculated through arithmetic (e.g., sum) of the available balance of each of the associated accounts.

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Skillman, NJ, United States of America

James K Macklin