Credit Management Method and System

A system, comprising:

• a network;
• a merchant device, coupled to the network, configured to perform one or more purchase transactions for a consumer using a card account;
• a secondary account, coupled to the network;
• an employer server, coupled to the network, configured to:
• transfer consumer wage earnings to a primary account on a payday, the consumer wage earnings corresponding to a pay period worked by the consumer;
• a banking server, coupled to the network, configured to:
• approve the one or more purchase transactions not greater than an available spending limit, the available spending limit equal to a spending limit minus a purchase balance, the spending limit comprising a sum of a credit limit, total accrued fractional earnings greater than the credit limit, and a balance of the secondary account, total accrued fractional earnings comprising a sum of fractional earnings, fractional earnings comprising a predetermined fraction of consumer wage earnings;
• and
• in response to the employer server transferring the consumer wage earnings:
• transfer an amount comprising a portion of the purchase balance of the card account from the primary account to the secondary account on or after the payday, the primary and secondary accounts comprising one of separate accounts or a common account;
• and
• transfer up to a card account statement balance from the secondary account to the card account on or before a card statement due date.

A non-transitory computer readable storage medium configured to store instructions that when executed cause a processor to:

• receive an application for a card account from a consumer;
• authorize transfers from a primary account to a secondary account, the primary account storing wage earnings for the consumer, the secondary account comprising a secondary account balance for storing funds to pay a card account statement balance, the primary and secondary accounts comprising one of separate accounts or a common account;
• determine an available spending limit for the card account equal to a spending limit minus a purchase balance, the spending limit comprising a sum of a credit limit, total accrued fractional earnings greater than the credit limit, and the secondary account balance, total accrued fractional earnings comprising a sum of fractional earnings, fractional earnings comprising a predetermined fraction of consumer wage earnings;
• approve one or more purchase transactions for the card account not greater than the available spending limit;
• and
• in response to the primary account credited with consumer wage earnings on a payday:
• adjust the available spending limit based on total accrued fractional earnings, a purchase balance for the card account, and the secondary account balance.