Real-time credit rating using a single financial account
First Claim
1. A method for determining a credit rating based upon a single financial account, the method comprising:
- establishing, for an account holder, a single financial account having one or more assets and liability components;
entering transactions corresponding to one or more of the components;
creating an account history based upon the transactions; and
assigning a credit rating to the account holder based upon the account history.
1 Assignment
0 Petitions
Accused Products
Abstract
Provided is a real-time method for calculating a credit report based upon information associated with a single, integrated financial account. The account has an associated balance based upon deposits and withdrawals, regardless of the type of transaction that generated a particular deposit or withdrawal. An account history is maintained and employed to calculate a credit rating. The rating is determined by an inspection of the integrated account. Information associated with the account is transferable. As deposits and withdrawals are made to an account, the credit rating can be adjusted in real-time. Metric information such as the frequency of deposits and withdrawals can be used as a factor in the calculation of a credit rating. Payment made by another customer on a co-signed loan, can also be a factor. Collateral deemed appropriate may be placed in the account and the customer'"'"'s credit rating adjusted to reflect the value of the collateral.
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Citations
20 Claims
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1. A method for determining a credit rating based upon a single financial account, the method comprising:
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establishing, for an account holder, a single financial account having one or more assets and liability components;
entering transactions corresponding to one or more of the components;
creating an account history based upon the transactions; and
assigning a credit rating to the account holder based upon the account history. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for determining a credit rating based upon a single financial account, the system comprising:
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a single financial account, corresponding to an accountholder, having one or more assets and liability components;
transactions corresponding to one or more of the components;
an account history based upon the transactions; and
logic for assigning a credit rating to the account holder based upon the account history. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A computer programming product for determining a credit rating based upon a single financial account, comprising:
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a memory;
a single financial account corresponding to an account holder having one or more assets and liability components;
logic, stored on the memory, for entering transactions corresponding to one or more of the components;
an account history, stored on the memory, based upon the transactions; and
logic, stored on the memory, for assigning a credit rating to the account holder based upon the account history. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification