Registers – Systems controlled by data bearing records – Credit or identification card systems
Patent
1993-11-22
1995-03-14
Shepperd, John
Registers
Systems controlled by data bearing records
Credit or identification card systems
235486, G06K 1900
Patent
active
053978811
ABSTRACT:
The Third Millenium credit card according to the present invention has magnetically into it written instead of only one expiration date, multiple expiration dates and multiple shopping hour periods, which are selected daily by means of erasing magnetic marking for one of these dates and by means of erasing magnetic marking for one of the shopping periods by the legitimate card user. The erased magnetic markings are rewritten into the credit card in any point of sales scanning device during the regular shopping procedure. These rewritten markings are again erased selectively day by day by the legitime card user, during the next time cycle of the credit card (week, 2 weeks or a month) according to this invention, as shown in FIG. 16. Thus the credit card according to this invention is continuously rejuvenated. The selective erasing of magnetic markings is done by the card user by means of a business card case like device which has a movable magnet built into it for erasing one date-mark each day. The erasure is completed by closing this card case for only two secunds.
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