Method and apparatus for development and use of a credit score based on spend capacity
First Claim
Patent Images
1. A method comprising:
- identifying, by a computer-based system, any balance transfers into at least one of a plurality of accounts, based on payment data, wherein the payment data is related to an individual consumer for a period of time that is prior to a current period of time, wherein the computer-based system is programmed to estimate a purchasing ability of a consumer;
discounting, by the computer-based system, any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified; and
determining, by the computer-based system, a purchasing ability of the individual consumer based on the payment data, said discounting and a model of consumer spending patterns derived from at least one of payment data, internal customer data and consumer panel 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. A SOW score focusing on a consumer'"'"'s spending capability can be used in the same manner as a credit bureau score.
61 Citations
20 Claims
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1. A method comprising:
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identifying, by a computer-based system, any balance transfers into at least one of a plurality of accounts, based on payment data, wherein the payment data is related to an individual consumer for a period of time that is prior to a current period of time, wherein the computer-based system is programmed to estimate a purchasing ability of a consumer; discounting, by the computer-based system, any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified; and determining, by the computer-based system, a purchasing ability of the individual consumer based on the payment data, said discounting and a model of consumer spending patterns derived from at least one of payment data, internal customer data and consumer panel data. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system comprising
a. non-transitory storage memory communicating with a processor; -
the non-transitory storage memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; identifying, by the processor, any balance transfers into at least one of a plurality of accounts, based on payment data, wherein the payment data is related to an individual consumer for a period of time that is prior to a current period of time; discounting, by the processor, any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified; and determining, by the processor, a purchasing ability of the individual consumer based on the payment data, said discounting and a model of consumer spending patterns derived from at least one of payment data, internal customer data and consumer panel data. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. An article of manufacture including a non-transitory computer readable storage 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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identifying, by the computing device, any balance transfers into at least one of a plurality of accounts, based on payment data, wherein the payment data is related to an individual consumer for a period of time that is prior to a current period of time; discounting, by the computing device, any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified; and determining, by the computing device, a purchasing ability of the individual consumer based on the payment data, said discounting and a model of consumer spending patterns derived from at least one of payment data, internal customer data and consumer panel data. - View Dependent Claims (20)
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Specification