Credit score and scorecard development
First Claim
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1. A method of developing a credit score for a consumer, comprising:
- modeling, by a computer-based system for developing a credit score for a consumer comprising a processor and a tangible, non-transitory memory, consumer spending patterns using individual consumer data and aggregate consumer data for a plurality of consumers, including tradeline data, internal customer data, and consumer panel data;
estimating, by the computer-based system, credit-related data of the individual consumer based on tradeline data of the individual consumer, an amount of identified balance transfers of the individual consumer, and the model of consumer spending patterns, wherein the credit-related data comprises a spend amount associated with the individual consumer;
offsetting, by the computer-based system, the identified balance transfers from the estimated credit-related data; and
determining a credit score for the individual consumer by using the estimated credit-related data.
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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:
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modeling, by a computer-based system for developing a credit score for a consumer comprising a processor and a tangible, non-transitory memory, consumer spending patterns using individual consumer data and aggregate consumer data for a plurality of consumers, including tradeline data, internal customer data, and consumer panel data; estimating, by the computer-based system, credit-related data of the individual consumer based on tradeline data of the individual consumer, an amount of identified balance transfers of the individual consumer, and the model of consumer spending patterns, wherein the credit-related data comprises a spend amount associated with the individual consumer; offsetting, by the computer-based system, the identified balance transfers from the estimated credit-related data; and determining a credit score for the individual consumer by using the estimated credit-related data. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. An apparatus for developing a credit score for a consumer, comprising:
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a processor; and a tangible, non-transitory memory in communication with the process processor, wherein the memory stores a plurality of processing instructions for directing the processor to; model consumer spending patterns using individual consumer data and aggregate consumer data for a plurality of consumers, 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, an amount of identified balance transfers of the individual consumer, and the model of consumer spending patterns, wherein the credit-related data comprises a spend amount associated with the individual consumer; offsetting the identified balance transfers from the estimated credit-related data; and calculating a credit score for the consumer by using the estimated credit-related data. - View Dependent Claims (13, 14, 15, 16)
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17. An article of manufacture including a 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 consumer data, and aggregate consumer data for a plurality of consumers, including tradeline data, internal customer data, and consumer panel data; estimating credit-related data of the individual consumer based on tradeline data of the individual consumer, an amount of identified balance transfers of the individual consumer, and the model of consumer spending patterns, wherein the credit-related data comprises a spend amount associated with the individual consumer; offsetting the identified balance transfers from the estimated credit-related data; and calculating a credit score for the consumer by using the estimated credit-related data. - View Dependent Claims (18, 19, 20, 21)
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Specification