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System and method for rapid updating of credit information

  • US 20030018549A1
  • Filed: 06/07/2002
  • Published: 01/23/2003
  • Est. Priority Date: 06/07/2001
  • Status: Active Grant
First Claim
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1. A method for evaluating the creditworthiness of an account holder of a credit account comprising the steps of:

  • determining, at least once a day, whether a first data set relating to the creditworthiness of the account holder has been received from a credit reporting organization;

    determining, at least once a day, whether a second data set relating to transaction activity of the credit account has been received;

    periodically receiving from a credit reporting organization a third data set relating to the creditworthiness of the account holder;

    periodically receiving a fourth data set relating to the historical activity of the credit account; and

    using the first and second data sets, to the extent they have been received, and the third and fourth data sets to determine a measure of creditworthiness.

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