Patent ID: 8706625

Claim:
A method, comprising: receiving a selection, from a user, of a borrowing scheme for an account through an interface via a network, wherein a bucket, that is part of the account and associated with the borrowing scheme is established and wherein further the borrowing scheme has a set of criteria that determines whether the borrowing scheme applies to a particular transaction for a purchase of goods or services from a merchant; receiving, by a programmed computer processor, over the network, a designation of a monthly payment amount for the bucket, from the user, wherein the monthly payment amount for the bucket applies to any balance associated with the bucket and is independent of any other balances associated with the account and the designation is performed without calculation of a separate fee; receiving transaction information, via the network, relating to a transaction conducted by the user, the transaction being for a purchase of goods or services from a merchant; and determining whether the transaction meets the set of criteria that determines whether the borrowing scheme applies; performing, upon a successful determination, by the programmed computer processor, an allocation of an amount associated with the transaction to the bucket; receiving, from the user, on a recurring basis, a payment comprising the monthly payment amount for the bucket; allocating the monthly payment amount for the bucket to pay down at least a portion of a balance associated with the bucket.