System and method for providing borrowing schemes

A system for processing account transactions, comprising:

• an account transactions processor for processing transactions conducted with an account;
• a borrowing scheme processor for:
• (1) receiving a time-based spending alert threshold designation from a user, via an online portal or a customer service representative, that is valid for a specified period of time,
• (2) receiving a designation of at least one category of transactions from the user that is associated with a designated portion of the time-based spending alert threshold designation, and the at least one category of transactions comprises at least one category of purchase transactions, a merchant category code (MCC), a merchant or vendor identity, an amount spent, a transaction level, or products or goods purchased,
• (3) notifying the user of a status of the time-based spending alert threshold designation for each category that is being approached or surpassed when the allocated transaction amount for the particular category is a certain percentage or more of the portion of the time-based spending alert threshold designated for the particular category, and
• (4) modifying the portion of the time-based spending alert threshold designation for the particular category for an upcoming period of time when the designated portion of the time-based spending alert threshold designation for the particular category is surpassed, and
• a statement processor for:
• (1) determining at least one borrowing scheme the user is enrolled in,
• (2) receiving transaction and account particulars associated with the at least one borrowing scheme from the borrowing scheme processor,
• (3) automatically generating statement details associated with the at least one borrowing scheme, and
• (4) providing the statement details to the user via an online statement or a physical hard copy statement.