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 for developing the credit score comprising a processor and 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, a previous balance transfer of the individual consumer, a paydown amount on at least one of the individual consumer'"'"'s accounts, 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 consumer'"'"'s 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.
247 Citations
17 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 for developing the credit score comprising a processor and 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, a previous balance transfer of the individual consumer, a paydown amount on at least one of the individual consumer'"'"'s accounts, 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 consumer'"'"'s spending over a given time and wherein the indicator is a positive or negative integer. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for developing a credit score for an individual consumer, the system comprising:
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a non-transitory memory; a processor; the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; 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 the individual consumer based on tradeline data of the individual consumer, a previous balance transfer of the individual consumer, a paydown amount on at least one of the individual consumer'"'"'s accounts, and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offsetting the previous balance transfers from the estimated credit-related information; and assigning 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 consumer'"'"'s spending over a given time and wherein the indicator is a positive or negative integer. - View Dependent Claims (9, 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, a previous balance transfer of the individual consumer, a paydown amount on at least one of the individual consumer'"'"'s account, and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offsetting the previous balance transfers from the estimated credit-related information; and 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 consumer'"'"'s spending over a given time and wherein the indicator is a positive or negative integer. - View Dependent Claims (15, 16, 17)
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Specification