Patent ID: 8341021
Filing Date: 2012-12-25
Classification: G06Q

Abstract:
1. A computer-implemented method of accessing a line of credit, the method comprising: prequalifying a consumer for a line of credit associated with a checking account by a lending institution computer responsive to consumer underwriting data and predetermined qualification parameters to thereby convert consumer underwriting data into line of credit data, the line of credit data including a total loan value, a preselected loan increment, a preselected loan advance fee associated with each preselected loan increment, an available loan value and a line of credit balance available; making available draws to the line of credit in an authorization stream for a proposed payment when the proposed payment is greater than an amount of funds in the checking account; crediting the checking account with one or more preselected loan increments so that the funds in the checking account totals a previous amount of funds in the checking account plus one or more preselected loan increments and so that the new amount of funds in the checking account at least equals the proposed payment; and updating the line of credit data to reflect the addition of the funds to the checking account to fund the proposed payment, the updating including the steps of: