Credit score and scorecard development
First Claim
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1. A method of developing a credit score for a consumer, comprising:
- (a) modeling consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
(b) estimating credit-related data of the individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
(c) using the estimated credit-related data and credit bureau data about the consumer as attributes in determining a credit score for the individual consumer.
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Abstract
Share of Wallet (“SOW”) is a modeling approach that utilizes various data sources to provide outputs that describe a consumers spending capability, tradeline history including balance transfers, and balance information. These outputs can be appended to data profiles of customers and prospects and can be utilized to support decisions involving prospecting, new applicant evaluation, and customer management across the lifecycle. The outputs can be used as attributes to consider in developing a credit bureau scorecard.
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Citations
21 Claims
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1. A method of developing a credit score for a consumer, comprising:
- (a) modeling consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
(b) estimating credit-related data of the individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
(c) using the estimated credit-related data and credit bureau data about the consumer as attributes in determining a credit score for the individual consumer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
- (a) modeling consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
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12. An apparatus for developing a credit score for a consumer, comprising:
- a processor; and
a memory in communication with the processor, wherein the memory stores a plurality of processing instructions for directing the processor to;
model consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
estimate credit-related data of the individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
use the estimated credit-related data and credit bureau data about the consumer as attributes in calculating a credit score for the consumer. - View Dependent Claims (13, 14, 15, 16)
- a processor; and
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17. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to develop a credit score for a consumer, the control logic comprising:
- first computer readable program code means for causing the computer to model consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
second computer readable program code means for causing the computer to estimate credit-related data of the individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
third computer readable program code means for causing the computer to use the estimated credit-related data and credit bureau data about the consumer as attributes in calculating a credit score for the consumer. - View Dependent Claims (18, 19, 20, 21)
- first computer readable program code means for causing the computer to model consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
Specification