System and method for interactively simulating a credit-worthiness score
First Claim
1. A method for generating simulated credit scores, the method comprising:
- executing computer-executable instructions on at least one computer processor to cause a computer to retrieve credit data associated with a consumer and maintained by a credit bureau;
executing computer-executable instructions on at least one computer processor to cause a computer to generate a first credit score using the retrieved credit data;
executing computer-executable instructions on at least one computer processor to cause a computer to receive hypothetical credit data input by a user, wherein the hypothetical credit data represents at least one change from the credit data maintained by the credit bureau;
executing computer-executable instructions on at least one computer processor to cause a computer to generate a simulated credit score based at least in part on the received hypothetical credit data;
executing computer-executable instructions on at least one computer processor to cause a computer to output for display the first credit score and the simulated credit score; and
at the user'"'"'s option, iteratively receiving hypothetical credit data input by the user and generating a different simulated credit score each time that the user inputs hypothetical credit data;
wherein the simulated credit scores are generated using a credit scoring model that simulates but is not a commercially-available credit scoring model.
4 Assignments
0 Petitions
Accused Products
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.
173 Citations
10 Claims
-
1. A method for generating simulated credit scores, the method comprising:
-
executing computer-executable instructions on at least one computer processor to cause a computer to retrieve credit data associated with a consumer and maintained by a credit bureau; executing computer-executable instructions on at least one computer processor to cause a computer to generate a first credit score using the retrieved credit data; executing computer-executable instructions on at least one computer processor to cause a computer to receive hypothetical credit data input by a user, wherein the hypothetical credit data represents at least one change from the credit data maintained by the credit bureau; executing computer-executable instructions on at least one computer processor to cause a computer to generate a simulated credit score based at least in part on the received hypothetical credit data; executing computer-executable instructions on at least one computer processor to cause a computer to output for display the first credit score and the simulated credit score; and at the user'"'"'s option, iteratively receiving hypothetical credit data input by the user and generating a different simulated credit score each time that the user inputs hypothetical credit data; wherein the simulated credit scores are generated using a credit scoring model that simulates but is not a commercially-available credit scoring model. - View Dependent Claims (2, 3, 4, 5)
-
-
6. A simulated credit score generator comprising computer hardware comprising at least one computer processor configured to retrieve and execute computer-executable instructions stored in computer storage, wherein execution of the instructions causes the computer hardware to perform operations comprising:
-
retrieving credit data associated with a consumer and maintained by a credit bureau; generating a first credit score using the retrieved credit data; receiving hypothetical credit data input by a user, wherein the hypothetical credit data represents at least one change from the credit data maintained by the credit bureau; generating a simulated credit score based at least in part on the received hypothetical credit data; outputting for display the first credit score and the simulated credit score; and at the user'"'"'s option iteratively receiving hypothetical credit data input by the user and generating a different simulated credit score each time that the user inputs hypothetical credit data; wherein the simulated credit scores are generated using a credit scoring model that simulates but is not a commercially-available credit scoring model. - View Dependent Claims (7, 8, 9, 10)
-
Specification