Credit score simulation
First Claim
1. A computer-implemented method for simulating a financial risk score, the method comprising:
- using a computer processor to generate a first simulated financial risk score that is based at least in part on a plurality of consumer financial data that is stored in a tangible computer-readable medium and that comprises at least first account-specific data regarding a first account associated with a consumer and second account-specific data regarding a second account associated with the consumer;
presenting a user with at least one recommended account-specific hypothetical modification to the plurality of consumer financial data and presenting to the user an option to choose the recommended account-specific hypothetical modification to the plurality of consumer financial data, wherein the account-specific hypothetical modification relates to one of the first account-specific data or the second account-specific data;
receiving from the user information indicative of at least one hypothetical modification to the plurality of consumer financial data and storing the information in a tangible computer-readable medium;
using a computer processor to generate a second simulated financial risk score that is based at least in part on the plurality of consumer financial data and the at least one hypothetical modification;
outputting for display the second simulated financial risk score; and
presenting to the user a user interface element that helps the user perform an action to change the consumer financial data to reflect the selected hypothetical modification, wherein the action comprises applying for new credit;
wherein the method is performed via processor execution of instructions stored on a tangible computer-readable medium.
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Accused Products
Abstract
Systems and methods are described that simulate a credit score. The system enables a user to modify a credit data element in order to determine its effect on a credit score. The user can modify the element directly or simulate an action that, if performed, would modify the element. Since the number of possible modifications and actions can be overwhelming, in one embodiment, the system suggests modifications and actions to be simulated. These suggestions can be tailored to a user'"'"'s goal, such as increasing a credit score by a particular number of points or allocating a particular sum of money in order to maximize a credit score. In one embodiment, the system obtains credit data from multiple credit bureaus and can determine credit scores using different algorithms, such as the different algorithms used by the different credit bureaus.
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Citations
24 Claims
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1. A computer-implemented method for simulating a financial risk score, the method comprising:
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using a computer processor to generate a first simulated financial risk score that is based at least in part on a plurality of consumer financial data that is stored in a tangible computer-readable medium and that comprises at least first account-specific data regarding a first account associated with a consumer and second account-specific data regarding a second account associated with the consumer; presenting a user with at least one recommended account-specific hypothetical modification to the plurality of consumer financial data and presenting to the user an option to choose the recommended account-specific hypothetical modification to the plurality of consumer financial data, wherein the account-specific hypothetical modification relates to one of the first account-specific data or the second account-specific data; receiving from the user information indicative of at least one hypothetical modification to the plurality of consumer financial data and storing the information in a tangible computer-readable medium; using a computer processor to generate a second simulated financial risk score that is based at least in part on the plurality of consumer financial data and the at least one hypothetical modification; outputting for display the second simulated financial risk score; and presenting to the user a user interface element that helps the user perform an action to change the consumer financial data to reflect the selected hypothetical modification, wherein the action comprises applying for new credit; wherein the method is performed via processor execution of instructions stored on a tangible computer-readable medium. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A tangible computer-readable medium that stores computer-executable instructions that are executable by a computer processor, said instructions when executed embodying a method that comprises:
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generating a first simulated financial risk score that is based at least in part on a plurality of consumer financial data that comprises at least first account-specific data regarding a first account associated with a consumer and second account-specific data regarding a second account associated with the consumer; presenting a user with at least one recommended account-specific hypothetical modification to the plurality of consumer financial data and presenting to the user an option to choose the recommended account-specific hypothetical modification to the plurality of consumer financial data, wherein the account-specific hypothetical modification relates to one of the first account-specific data or the second account-specific data; receiving from the user information indicative of at least one hypothetical modification to the plurality of consumer financial data; generating a second simulated financial risk score that is based at least in part on the plurality of consumer financial data and the at least one hypothetical modification; outputting for display the second simulated financial risk score; and presenting to the user a user interface element that helps the user perform an action to change the consumer financial data to reflect the selected hypothetical modification, wherein the action comprises applying for new credit. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification