Method and apparatus for development and use of a credit score based on spend capacity
First Claim
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1. A method of developing a credit score for an individual consumer comprising:
- modeling, by a computer-based system comprising a processor and a non-transitory, tangible memory, consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
estimating, by the computer-based system, credit-related information 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, wherein the credit-related information comprises a spend amount associated with the individual consumer; and
offsetting, by the computer-based system, the previous balance transfers from the estimated credit-related information;
assigning, by the computer-based system, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of the consumers'"'"' spending over a given time and wherein the indicator is a positive or negative integer.
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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. A SOW score focusing on a consumer'"'"'s spending capability can be used in the same manner as a credit bureau score.
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Citations
18 Claims
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1. A method of developing a credit score for an individual consumer comprising:
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modeling, by a computer-based system comprising a processor and a non-transitory, tangible memory, consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data; estimating, by the computer-based system, credit-related information 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, wherein the credit-related information comprises a spend amount associated with the individual consumer; and offsetting, by the computer-based system, the previous balance transfers from the estimated credit-related information; assigning, by the computer-based system, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of the consumers'"'"' spending over a given time and wherein the indicator is a positive or negative integer. - View Dependent Claims (2, 3, 4)
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5. A method of developing a consumer credit score, comprising:
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modeling, by a computer-based system comprising a processor and a non-transitory, tangible memory, consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data; estimating, by the computer-based system, a spend capacity 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, wherein the spend capacity comprises a spend amount associated with the individual consumer; and offsetting, by the computer-based system, the previous balance transfers from the estimated credit-related information; assigning, by the computer-based system, a credit score to the consumer based on the estimated spend capacity of the consumer, wherein the credit score includes an indicator indicating a trend of the consumers'"'"' spending over a given time and wherein the indicator is a positive or negative integer. - View Dependent Claims (6, 7, 8)
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9. An apparatus for developing a consumer credit score, comprising;
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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 information of an individual consumer based on tradeline data of the individual consumer, previous balance transfers of the individual consumer, and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offset the previous balance transfers from the estimated credit-related information; and assign a credit score to the consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of the consumers'"'"' spending over a given time and wherein the indicator is a positive or negative integer. - View Dependent Claims (10, 11, 12, 13)
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14. An article of manufacture including a non-transitory computer-readable medium having instructions stored thereon that, in response to execution by a computing device, cause the computing device to perform operations comprising:
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modeling consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data; estimating credit-related information of an individual consumer based on tradeline data of the individual consumer, previous balance transfers of the individual consumer, and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; and offsetting the previous balance transfers from the estimated credit-related information; assigning a credit score to the consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of the consumers'"'"' spending over a given time and wherein the indicator is a positive or negative integer. - View Dependent Claims (15, 16, 17, 18)
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Specification