System and method for providing a credit card with multiple credit lines
A system and method for providing a credit card with multiple lines of credit. One of the disclosed methods include, for example, analyzing credit information of a cardholder to determine a level of risk associated with the cardholder; establishing a general purpose credit line based on the determined level of risk associated with the cardholder, the general purpose credit line being set as a revolving credit line; establishing a private label credit line based on the determined level of risk associated with the cardholder, the private label credit line being set as a revolving credit line; and issuing the credit card to the cardholder with the established general purpose credit line and private label credit line.
1. A computer-implemented method for authorizing a purchase made with a merchant using a credit card, wherein the credit card includes a general purpose credit line and a private label credit line, said method comprising:
determining, by a computer processor, whether the purchase is to be applied against the private label credit line or against the general purpose credit line based on information received from a merchant;
authorizing the purchase against the private label credit line when it is determined that the purchase is a private label purchase; and
authorizing the purchase against the general purpose credit line when it is determined that the purchase is a general purpose purchase;
wherein the general purpose credit line is part of the private label credit line.
2. The method of claim 1 , wherein said step of determining further comprises utilizing a merchant identification number to determine whether the purchase is against the private label credit line.
3. The method of claim 1 , further comprising posting an amount to the private label credit line when the purchase is against the private label credit line, and posting the amount to the general purpose credit line when the purchase is against the general purpose credit line.
4. The method of claim 1 , further comprising utilizing the BIN number to retrieve an account record; and comparing the merchant identification number with a stored merchant identification number in the account record.
5. The method of claim 1 , further comprising settling, with the merchant, the purchase made using the credit card.
6. The method of claim 5 , wherein setting further comprising posting a credit to an account of the merchant.
7. The method of claim 5 , wherein setting comprises analyzing an authorization number to determine if the transaction was private or general.
8. A computer program product for authorizing a purchase made with a merchant using a credit card, wherein the credit card includes a general purpose credit line and a private label credit line, the computer program product comprising computer-readable media having computer-readable code, the computer program product comprising the following computer-readable program code for effecting actions in a computing platform:
program code for determining whether the purchase is to be applied against the private label credit line or against the general purpose credit line based on information received from a merchant;
program code for authorizing the purchase against the private label credit line when it is determined that the purchase is a private label purchase; and
program code for authorizing the purchase against the general purpose credit line when it is determined that the purchase is a general purpose purchase;
wherein the general purpose credit line is part of the private label credit line.
9. The computer program product of claim 8 , wherein the program code for determining further comprises program code for utilizing a merchant identification number to determine whether the purchase is against the private label credit line.
10. The computer program product of claim 8 , further comprising program code for posting an amount to the private label credit line when the purchase is against the private label credit line, and program code for posting the amount to the general purpose credit line when the purchase is against the general purpose credit line.
11. The computer program product of claim 8 , further comprising program code for utilizing the BIN number to retrieve an account record; and
program code for comparing the merchant identification number with a stored merchant identification number in the account record.
12. The computer program product of claim 8 , further comprising program code for settling, with the merchant, the purchase made using the credit card.
13. The computer program product of claim 12 , wherein program code for setting further comprising program code for posting a credit to an account of the merchant.
14. The computer program product of claim 12 , wherein program code for settling further comprises program code for analyzing an authorization number to determine if the transaction was private or general.
15. A system for authorizing a purchase made with a merchant using a credit card, wherein the credit card comprises a general purpose credit line and a private label credit line, said system comprising:
means for determining whether the purchase is to be applied against the private label credit line or against the general purpose credit line based on information received from a merchant;
means for authorizing the purchase against the private label credit line when it is determined that the purchase is a private label purchase; and
means for authorizing the purchase against the general purpose credit line when it is determined that the purchase is a general purpose purchase;
wherein the general purpose credit line is part of the private label credit line.