Computer-implemented methods, program product, and system to enhance banking terms over time

Abstract

Managing access to a line of credit, for example, can include a financial institution computer determining eligibility for a line of credit program responsive to a consumers prior enrollment in a prepaid card program and one or more of the following: the consumer's historical direct deposit data, and data associated with the consumer's historical behavior in the prepaid card program. The financial institution computer can extend an amount of available credit to the consumer through the line of credit program so that a consumer credit limit is capped through underwriting criteria to ensure that no more than a predetermined percentage of a consumer's historic direct deposit amount is required for minimum repayments. The financial institution computer can further receive loan repayments over one or more predetermined direct deposit periods and change the consumer credit limit by preselected increments responsive to a change in the consumer's direct deposit amount.

1 . A financial institution computer to access to a line of credit associated with a prepaid card account, the financial institution computer comprising:
 an input/output unit;   one or more processors; and   one or more non-transitory memories encoded with computer program, the computer program comprising a set of instructions that, when executed by the one or more processors, operates to perform the operations of:   establishing a line of credit account associated with one or more of a plurality of existing prepaid card accounts for a consumer responsive to receiving an indication that the consumers is eligible for the line of credit account, eligibility being at least partially based on the consumer's historical use of the one or more of the plurality of existing prepaid card accounts, the line of credit account adapted to be drawn in at least one of a plurality of separate predetermined loan increments each being equal in value and less than a total credit limit;   determining a number of separate predetermined loan increments to be added to the one or more of the plurality of existing prepaid card accounts from the line of credit account responsive to receiving data from one or more of a plurality of access interface devices;   loading the one or more of the plurality of existing 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 increments responsive to the loaded increments being equal to or less than an available balance of the line of credit account;   determining a plurality of loan repayment portions for a total loan amount based upon a plurality of predetermined direct deposit periods, the total loan amount defined as a total value of a loan advance fee plus the loaded increments, the total value of the loan advance fee being equal to a predetermined loan advance fee multiplied by the number of separate predetermined loan increments; and   deducting one of the plurality of loan repayment portions from a direct deposit received in the one or more of the plurality of existing prepaid card account during each of the plurality of predetermined direct deposit periods.   
     
     
         2 . A financial institution computer as defined in  claim 1 , wherein the computer program further comprises instruction that, when executed by the one or more processors, perform the operation of:
 increasing the total credit limit of the line of credit account by a second number of separate predetermined loan increments to thereby increase available credit for the consumer responsive to a change in the consumer's direct deposit to the existing prepaid card accounts, the increased available credit adapted to be drawn in at least one of the plurality of separate predetermined loan increments.   
     
     
         3 . A financial institution computer as defined in  claim 1 , wherein the computer program further comprises instruction that, when executed by the one or more processors, perform the operation of:
 reducing the total credit limit of the line of credit account by a second number of separate predetermined loan increments to thereby decrease existing available credit for the consumer responsive to a change in the consumer's direct deposit to the one or more the plurality of existing prepaid card accounts, the reduced available credit adapted to be drawn in at least one of the plurality of separate predetermined loan increments.   
     
     
         4 . A financial institution computer as defined in  claim 1 , wherein each of the one of the plurality of loan repayment portions are substantially equal in value, wherein determining eligibility for the line of credit further includes requiring a minimum age and a government screening process, and wherein the total credit limit is capped through underwriting criteria so that no more than a predetermined percentage of the consumer's historic direct deposit amount to the one or more of the plurality of existing prepaid card accounts is required for a minimum repayment amount. 
     
     
         5 . A financial institution computer as defined in  claim 1 , the computer program further comprises instruction that, when executed by the one or more processors, perform the operation of canceling a draw from the line of credit account through a call to a customer service center. 
     
     
         6 . A financial institution computer as defined in  claim 1 , wherein the financial institution is a federally chartered bank and the line of credit is a bank product, and wherein the one of the plurality of loan repayment portions are deducted from the directed deposit prior to the direct deposit funds being made available to the consumer. 
     
     
         7 . Non-transitory computer-readable medium encoded with computer program and operable on a computer associated with a financial institution to define a financial institution computer, the computer program operable to access to a line of credit associated with a prepaid card account and comprising the instructions of:
 establishing a line of credit account associated with one or more of a plurality of existing prepaid card accounts for a consumer responsive to receiving an indication that the consumers is eligible for the line of credit account, eligibility being at least partially based on the consumer's historical use of the one or more of the plurality of existing prepaid card accounts, the line of credit account adapted to be drawn in at least one of a plurality of separate predetermined loan increments each being equal in value and less than a total credit limit;   determining a number of separate predetermined loan increments to be added to the one or more of the plurality of existing prepaid card accounts from the line of credit account responsive to receiving data from one or more of a plurality of access interface devices;   loading the one or more of the plurality of existing 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 increments responsive to the loaded increments being equal to or less than an available balance of the line of credit account;   determining a plurality of loan repayment portions for a total loan amount based upon a plurality of predetermined direct deposit periods, the total loan amount defined as a total value of a loan advance fie plus the loaded increments, the total value of the loan advance fee being equal to a predetermined loan advance fee multiplied by the number of separate predetermined loan increments; and   deducting one of the plurality of loan repayment portions from a direct deposit received in the one or more of the plurality of existing prepaid card account during each of the plurality of predetermined direct deposit periods.   
     
     
         8 . Non-transitory computer-readable medium as defined in  claim 7 , the computer program further comprises the instruction of:
 increasing the total credit limit of the line of credit account by a second number of separate predetermined loan increments to thereby increase existing available credit for the consumer responsive to a change in the consumer's direct deposit to the one or more the plurality of existing prepaid card accounts, the increased available credit adapted to be drawn in at least one of the plurality of separate predetermined loan increments.   
     
     
         9 . Non-transitory computer-readable medium as defined in  claim 7 , the computer program further comprises instruction of:
 reducing the total credit limit of the line of credit account by a second number of separate predetermined loan increments to thereby decrease existing available credit for the consumer responsive to a change in the consumer's direct deposit to the one or more the plurality of existing prepaid card accounts, the reduced available credit adapted to be drawn in at least one of the plurality of separate predetermined loan increments.   
     
     
         10 . Non-transitory computer-readable medium as defined in  claim 8 , wherein each of the one of the plurality of loan repayment portions are substantially equal in value, wherein determining eligibility for the line of credit further includes requiring a minimum age and a government screening process, and wherein the total credit limit is capped through underwriting criteria so that no more than a predetermined percentage of the consumer's historic direct deposit amount to the one or more of the plurality of existing prepaid card accounts is required for a minimum repayment amount. 
     
     
         11 . Non-transitory computer-readable medium as defined in  claim 7 , the computer program further comprises instruction of canceling a draw from the line of credit account through a call to a customer service center, and
 wherein the one of the plurality of loan repayment portions are deducted from the directed deposit prior to the direct deposit funds being made available to the consumer.   
     
     
         12 . Non-transitory computer-readable medium as defined in  claim 7 , wherein the financial institution is a federally chartered bank and the line of credit is a bank product. 
     
     
         13 . A computer-implemented method of accessing a line of credit associated with a prepaid card account, the method comprising the steps of:
 establishing, by a computer associated with a financial institution to define a financial institution computer, a line of credit account associated with one or more of a plurality of existing prepaid card accounts for a consumer responsive to receiving an indication that the consumers is eligible for the line of credit account in a first process, eligibility being at least partially based on the consumer's historical use of the one or more of the plurality of existing prepaid card accounts, the line of credit account adapted to be drawn in at least one of a plurality of separate predetermined loan increments each being equal in value and less than a total credit limit;   determining, by the financial institution computer, a number of separate predetermined loan increments to be added to the one or more of the plurality of existing prepaid card accounts from the line of credit account responsive to receiving data from one or more of a plurality of access interface devices;   loading, by financial institution computer, the one or more of the plurality of existing 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 increments responsive to the loaded increments being equal to or less than an available balance of the line of credit account;   determining, by the financial institution computer, a plurality of loan repayment portions for a total loan amount based upon a plurality of predetermined direct deposit periods, the total loan amount defined as a total value of a loan advance fee plus the loaded increments, the total value of the loan advance fee being equal to a predetermined loan advance fee multiplied by the number of separate predetermined loan increments; and   deducting, by the financial institution computer, one of the plurality of loan repayment portions from a direct deposit received in the one or more of the plurality of existing prepaid card account during each of the plurality of predetermined direct deposit periods.   
     
     
         14 . A computer-implemented method as defined in  13 , further comprising:
 increasing, by the financial institution computer, the total credit limit of the line of credit account by a second number of separate predetermined loan increments to thereby increase available credit for the consumer responsive to a change in the consumer's direct deposit to the existing prepaid card accounts, the increased available credit adapted to be drawn in at least one of the plurality of separate predetermined loan increments.   
     
     
         15 . A computer-implemented method as defined in  13 , the method further comprising:
 reducing, by the financial institution computer, the total credit limit of the line of credit account by a second number of separate predetermined loan increments to thereby decrease existing available credit for the consumer responsive to a change in the consumer's direct deposit to the one or more the plurality of existing prepaid card accounts, the reduced available credit adapted to be drawn in at least one of the plurality of separate predetermined loan increments.   
     
     
         16 . A computer-implemented method as defined in  13 , wherein each of the one of the plurality of loan repayment portions are substantially equal in value, wherein determining eligibility for the line of credit further includes requiring a minimum age and a government screening process, and wherein the total credit limit is capped through underwriting criteria so that no more than a predetermined percentage of the consumer's historic direct deposit amount to the one or more of the plurality of existing prepaid card accounts is required for a minimum repayment amount. 
     
     
         17 . A computer-implemented method as defined in  13 , further comprises:
 canceling, by the financial institution computer, a draw from the line of credit account through a call to a customer service center.   
     
     
         18 . A computer-implemented method as defined in  13 , wherein each of the one of the plurality of loan repayment portions are substantially equal in value, wherein determining eligibility for the line of credit further includes requiring a minimum age and a government screening process, and wherein the total credit limit is capped through underwriting criteria, so that no more than a predetermined percentage of the consumer's historic direct deposit amount to the one or more of the plurality of existing prepaid card accounts is required for a minimum repayment amount. 
     
     
         19 . A computer-implemented method as defined in  13 , wherein the one of the plurality of loan repayment portions are deducted from the directed deposit prior to the direct deposit funds being made available to the consumer. 
     
     
         20 . A computer-implemented method as defined in  13 , wherein the total credit limit is capped through underwriting criteria so that no more than a predetermined percentage of the consumer's historic direct deposit amount to the one or more of the plurality of existing prepaid card accounts is required for a minimum repayment amount.