ON-LINE METHOD AND SYSTEM FOR MONITORING AND REPORTING UNUSED AVAILABLE CREDIT
First Claim
1. A method for on-line monitoring, reporting and summarizing unused available credit, the method comprising:
- providing an on-line system that allows an end user to access the system by means of a computer;
the system requesting and retrieving credit information of the end user from a credit bureau;
the system storing the credit information that includes information relating to the total amount of unused available credit for a debt category in a storage database;
the system presenting the total amount of unused available credit for the debt category to the end user in a graphical or tabular format.
2 Assignments
0 Petitions
Accused Products
Abstract
The present invention generally relates to monitoring and advising consumers of their outstanding credit balance by category of debt (i.e. including, but not limited to, the category of all credit cards, all real estate loans, all automotive loans, all revolving credit loans, etc.) and all minimum payments due by category of debt, and more particularly to an on-line method and system for monitoring and reporting total credit used by category of debt, total minimum payments due by category of debt and total unused available credit by category of debt, and alerting the consumer on a periodic basis via email. Since the credit report is the basis of most credit scores this invention is meant to provide the consumer with debt categories that are used in calculating their credit score, which is critical to future borrowing especially when the borrowing is approved or disapproved based only on the user'"'"'s credit score.
109 Citations
18 Claims
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1. A method for on-line monitoring, reporting and summarizing unused available credit, the method comprising:
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providing an on-line system that allows an end user to access the system by means of a computer; the system requesting and retrieving credit information of the end user from a credit bureau; the system storing the credit information that includes information relating to the total amount of unused available credit for a debt category in a storage database; the system presenting the total amount of unused available credit for the debt category to the end user in a graphical or tabular format. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for monitoring, reporting and summarizing unused available credit on-line, the system comprising:
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a non-membership portion that includes; an enrollment component that allows an end user to access the system by means of a computer; a membership portion that includes; a data request component that requests and retrieves credit information of the end user from a credit bureau; and a data presentation component that presents the total amount of unused credit available for a debt category to the end user in a graphical or tabular format; an alert and monitoring component that periodically provides the end user with an updated total amount of unused credit available for the debt category and alerts the end user of a migration of credit balance. - View Dependent Claims (12, 13, 14, 15, 16, 17)
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18. A method for on-line monitoring, reporting and summarizing unused available credit, the method comprising:
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providing an on-line system that allows an end user to access the system by means of a computer; the system requesting and retrieving credit information of the end user from a credit bureau; the system storing the credit information of the end user in a storage database; the system reconfiguring the credit information, reconfiguring the credit information includes; grouping particular credit information for each credit line into one or more respective debt categories; determining the total amount of debts owed for each debt category; determining the total credit limit allowed for each debt category; determining the total minimum payments due for a given time period for each debt category; determining the total amount of unused available credit for each debt category based on the total amount of debts owed for each debt category and the total credit limit allowed for each debt category; the system presenting the total amount of unused available credit for each debt category, the total debts owed for each debt category and the total minimum payments due for a given time period for each debt category to the end user in a graphical or tabular format.
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Specification