Patent ID: 8069085
Filing Date: 2011-11-29
Classification: G06Q

Abstract:
1. A system to allow a prepaid card user to access a line of credit coupled to a prepaid card account when using a prepaid card, the system comprising: a first computer associated with a plurality of prepaid card accounts defining a prepaid card processor, the prepaid card processor configured to control access to the plurality of prepaid card accounts and communicate with a second computer associated with a lending institution defining a lending institution computer through an electronic communications network; and non-transitory computer memory encoded with computer program operable on the prepaid card processor, computer program comprising: a first computer program to facilitate extending a line of credit coupled to at least one of the plurality of prepaid card accounts defining an incremental line of credit interface module, the incremental line of credit interface module comprising the instructions of: associating a line of credit identifier with at least one of the plurality of prepaid card accounts responsive to receiving line of credit data from the lending institution computer to thereby couple the at least one of the plurality of prepaid card accounts to a line of credit adapted to be drawn in at least one of a plurality of separate predetermined loan increments and established by the lending institution computer, the line of credit data including the following: a value of one of the plurality of separate predetermined loan increments, a predetermined loan advance fee, and a total credit limit, a second computer program to allow one or more draws to the line of credit coupled to at least one of the plurality of prepaid card accounts in one or more of the plurality of separate predetermined loan increments when using a prepaid card, the second computer program defining an incremental line of credit dispensing module and comprising the instructions of: processing, by the prepaid card processor, transaction data associated with a proposed purchase to thereby determine when a prepaid card associated with the at least one of the plurality of the prepaid card accounts is being used as payment for the proposed purchase and when a value of the proposed purchase is greater than a value associated with the at least one of the plurality of the prepaid card accounts, determining, by the prepaid card processor responsive to the value of the proposed purchase being greater than the value associated with the at least one of the plurality of the prepaid card accounts, a number of separate predetermined loan increments to be added to the value associated with at least one of the plurality of the prepaid card accounts so that the number of separate predetermined loan increments multiplied by the value of one of the plurality of separate predetermined loan increments plus the value associated with the at least one of the plurality of prepaid card accounts exceeds the value of the proposed purchase by less than the value of one of the plurality of separate predetermined loan increments, loading, by the prepaid card processor, the at least one of the plurality of the prepaid card accounts with at least one of the plurality of separate predetermined loan increments that corresponds with the number of separate predetermined loan increments to thereby define loaded predetermined increments when the loaded predetermined increments and a total value of the predetermined loan advance fee corresponding thereto collectively do not exceed a line of credit balance available, the total value of the predetermined loan advance fee being equal to the predetermined loan advance fee multiplied by the number of separate predetermined loan increments and being less than a value of the loaded predetermined increments, approving, by the prepaid card processor, the proposed purchase, deducting, by the prepaid card processor, the value of the proposed purchase from the value associated with the at least one of the plurality of the prepaid card accounts, the difference between the value of the proposed purchase and the value associated with the prepaid card account being no greater than the value of one of the plurality of separate predetermined loan increments, each of the plurality of separate predetermined loan increments being equal in value, and notifying, by the prepaid card processor, the lending institution computer of the loaded predetermined increments to the at least one of the plurality of prepaid card accounts.