Method for debit card and checking account autodraw

A system to allow a debit card user to access a line of credit associated with one or more of a plurality of checking accounts when using a debit card, the system comprising:

• a computer associated with a lending institution defining a lending institution computer, the lending institution computer having non-transitory memory, being associated with an electronic communications network, and being positioned to control access to funds from a line of credit associated with a checking account;
• and
• a computer program product associated with the lending institution computer, stored on a tangible computer memory media, and operable on a computer, the computer program product comprising a set of instructions that, when executed by the computer, cause the computer to perform the operations of:
• prequalifying, by the lending institution computer, a debit card user for a line of credit to be associated with one or more of a plurality of checking accounts responsive to consumer underwriting data and predetermined qualification parameters,
• establishing, by the lending institution computer, the line of credit associated with one or more of the plurality of the checking accounts responsive to approval of the line of credit, the line of credit having a total credit limit and adapted to be drawn in at least one of a plurality of separate predetermined loan increments each being equal in value and less than the total credit limit,
• determining, by the lending institution computer responsive to receipt of transaction data, when a debit card associated with the one or more of the plurality of the checking accounts is being used as payment for a proposed purchase and when a value of the proposed purchase is greater than a value associated with the one or more of the plurality of checking accounts,
• determining, by the lending institution computer, responsive to the value of the proposed purchase being greater than the value associated with the one or more of the plurality of the checking accounts, a number of separate predetermined loan increments to be added to the value associated with the one or more of the plurality of checking accounts so that the number of separate predetermined loan increments multiplied by the value of one of the plurality of separate predetermined loan increments and plus the value associated with the one or more of the plurality of checking 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 lending institution computer, the one or more of the plurality of checking accounts with one or more of the plurality of separate predetermined loan increments that corresponds with the number of separate predetermined loan increments to thereby define one or more loaded predetermined increments when the one or more of the loaded predetermined increments and a total value of a 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 value of one of the plurality of separate predetermined loan increments multiplied by the number of separate predetermined loan increments,
• determining, by the lending institution computer, a new value of the line of credit balance available, the new value being a previous value of the line of credit balance available minus the one or more loaded predetermined increments to the one or more of the plurality of checking accounts and minus the total value of the predetermined loan advance fee, and
• determining, by the lending institution computer, a new value of a line of credit balance, the new value being a previous value of the line of credit balance plus the one or more loaded predetermined increments loaded to the one or more of the plurality of checking accounts plus the total value of the predetermined loan advance fee, the total value of the predetermined loan advance fee being less than the loaded predetermined increments loaded to the one or more of the plurality of checking accounts.