System and method for interactively simulating a credit-worthiness score

• US 8,335,741 B2
• Filed: 09/02/2011
• Issued: 12/18/2012
• Est. Priority Date: 05/30/2002
• Status: Expired due to Term

• Current Assignee: Consumerinfo.com Incorporated (Experian plc)
• Original Assignee: Experian Information Solutions Incorporated (Experian plc)
• Inventors: Kornegay, Adam T., Greenwald, Joseph L., Elliott, Constance A.
• Primary Examiner(s): Nguyen, Nga B.
• Application Number:
  US13/225,225
• Publication Number:
  US 20120066116A1
• Time in Patent Office: 473 Days
• Field of Search: 705/35, 705/36, 705/37, 705/38, 705/39, 705/40
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and method is provided to allow a consumer to interactively explore his credit score by submitting hypothetical values based on his actual credit data. The system uses the consumer'"'"'s real credit data and the submitted hypothetical values to calculate a simulated credit score based on a simulator scorecard. The consumer may then observe the changes in the resultant scores. The system and the scorecard may utilize fewer data elements than a complete credit-worthiness scorecard and may instead focus on the key elements affecting a consumer'"'"'s credit score. The system may be implemented in part on a web server or as a stand-alone application. The system may also update the score dynamically as the consumer adjusts the hypothetical values or may require the consumer to affirmatively submit the new hypothetical data.

Claims

1. A method of presenting a user with a simulated credit score, the method being performed on computing hardware, the method comprising:

maintaining, in computer-readable storage, a credit information data structure indicative of credit-related information associated with a consumer;

calculating a first credit score based on the credit information data structure;

transmitting, to a client computer, user interface data configured to cause the client computer to display a user interface including a graphical representation of the first credit score, the user interface further including one or more adjustable sliders configured to enable a user of the client computer to adjust one or more credit-related parameters, the user interface data further including executable code configured to transmit score simulation request data in response to the user adjusting one or more of the adjustable sliders;

receiving, from the client computer, score simulation request data including indications of one or more credit-related parameter adjustments indicated by the adjusting of the one or more of the adjustable sliders;

calculating a second credit score based on the credit-related information and the one or more credit-related parameter adjustments indicated by the adjusting of the one or more of the adjustable sliders; and

transmitting, to the client computer, updated user interface data reflecting the second credit score, the updated user interface data being transmitted in real time in response to receiving the score simulation request data.

2. The method of claim 1, wherein the graphical representation of the first credit score comprises an indication of a risk level associated with the first credit score.

3. The method of claim 1, wherein the graphical representation of the first credit score comprises an indicator of a real credit score and an indicator of a simulated score, and wherein the updated user interface data reflecting the second credit score is configured to cause the indicator of the simulated score to be repositioned according to the second credit score, while the indicator of the real credit score remains positioned according to the first credit score.

4. The method of claim 1, wherein both the first credit score and the second credit score are calculated based on the same credit scoring model.

5. The method of claim 1, wherein the credit-related information is based upon credit information received from a credit bureau.

6. The method of claim 1, wherein the credit-related information is based upon information received from the consumer.

7. The method of claim 1, wherein the one or more adjustable sliders are configured to enable a user of the client computer to adjust one or more credit-related parameters by dragging a portion respective of the one or more adjustable slider with a cursor.

10. The method of claim 1, wherein the graphical representation of the first credit score comprises an indication of a risk level associated with the first credit score.

11. The method of claim 1, wherein the graphical representation of the first credit score comprises an indicator of a real credit score and an indicator of a simulated score, and wherein the updated user interface data reflecting the second credit score is configured to cause the indicator of the simulated score to be repositioned according to the second credit score, while the indicator of the real credit score remains positioned according to the first credit score.

8. A credit score simulation computer system, comprising:

a computer-readable storage medium configured to maintain a credit information data structure indicative of credit-related information associated with a consumer;

a network communications interface configured to communicate with a client computer via a network; and

a computer processor configured to transmit, via the network communications interface, user interface data configured to cause the client computer to display a user interface including a graphical representation of a first credit score calculated based on the credit-related information, the user interface further including one or more adjustable sliders configured to enable a user of the client computer to adjust one or more credit-related parameters;

the computer processor further configured to transmit updated user interface data reflecting a second credit score calculated based on adjusted credit-related parameters received from the client computer.

9. The credit score simulation computer system of claim 8, wherein the computer processor is configured to transmit the updated user interface data in real time subsequent to receiving the adjusted credit-related parameters from the client computer.

12. The credit score simulation computer system of claim 8, wherein the first credit score and the second credit score are calculated based on the same credit scorecard.

13. The credit score simulation computer system of claim 8, wherein the user interface data further includes executable code configured to transmit a score simulation request in response to the user adjusting one or more of the adjustable sliders.

14. The credit score simulation computer system of claim 8, wherein the credit information data structure is based upon credit information received from a credit bureau.

15. The credit score simulation computer system of claim 8, wherein the credit-related information is based upon credit information received from the consumer.

16. The credit score simulation computer system of claim 8, wherein the one or more adjustable sliders are configured to enable a user of the client computer to adjust one or more credit-related parameters by dragging a portion of a slider with a mouse cursor.

17. A computing system comprising:

one or more computer processors configured to execute instructions;

a computer-readable medium storing executable instructions that, in response to execution by the one or more computer processors, cause the computing system to;

display a user interface including a graphical representation of a first credit score calculated based on credit-related information provided by a user of the user interface, the user interface further including one or more adjustable sliders configured to enable the user to adjust one or more credit-related parameters; and

update the user interface to display a second credit score calculated based on receiving adjustments made by the user to at least one of the one or more adjustable sliders.

18. The computing system of claim 17, wherein the executable instructions are further configured to cause the computing system to update the user interface to display the second credit score in real time subsequent to receiving the adjustments made by the user to the at least one of the one or more adjustable sliders.

19. The computing system of claim 17, wherein the graphical representation of the first credit score comprises an indicator of a real credit score and an indicator of a simulated score, and wherein the updated user interface displaying the second credit score is configured to cause the indicator of the simulated score to be repositioned according to the second credit score, while the indicator of the real credit score remains positioned according to the first credit score.

20. The computing system of claim 17, wherein the first credit score is calculated based on a credit scorecard and the second credit score is calculated based on the same credit scorecard.