Method and apparatus for development and use of a credit score based on spend capacity
First Claim
Patent Images
1. A method comprising:
- modeling, by a computer-based system for developing a credit score for an individual consumer, consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data, wherein the computer-based system comprises a processor and non-transitory tangible memory;
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 an account 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
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.
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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.
89 Citations
20 Claims
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1. A method comprising:
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modeling, by a computer-based system for developing a credit score for an individual consumer, consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data, wherein the computer-based system comprises a processor and non-transitory tangible memory; 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 an account 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 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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A system comprising:
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a non-transitory memory communicating with a processor for developing a credit score for an individual consumer; the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; modeling, by the processor, consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data; estimating, by the processor, 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 an account 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 assigning, by the processor, 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. - View Dependent Claims (10, 11, 12, 13, 14, 15)
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16. An article of manufacture including a non-transitory computer readable medium having instructions stored thereon that, in response to execution by a computing device for developing a credit score, cause the computing device to perform operations comprising:
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modeling, by the computing device, consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data; estimating, by the computing device, 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 an account 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 assigning, by the computing device, 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. - View Dependent Claims (17, 18, 19, 20)
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Specification