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US 8,078,529 B1Granted
Evaluating customers' ability to manage revolving credit
AssigneeBank of America Corporation
InventorsNancy T. Carrier, David Joffe
Life of this patent
Estimating the term…
Abstract
Embodiments of the present invention relate to systems, methods and computer program products for evaluating customers' ability to manage revolving credit. To do so, for example, embodiments of the present invention review aggregated transaction data taken from a large number of revolving-credit accounts, and detect credit-usage patterns at an account level. The detected credit-usage patterns are then applied in risk models to evaluate individual customers' ability to manage revolving credit.
Claims26
A system comprising:
- a database for storing transaction data taken from a plurality of revolving-credit accounts, wherein, for each revolving credit-account, the transaction data comprises:
- a credit-limit amount;
- a spend amount for each month;
- and
- a balance amount for each month;
- a processor associated with the database and configured to execute a credit-usage application for evaluating a customer's ability to manage revolving credit;
- wherein the credit-usage application executed by the processor is configured to:
- review the transaction data of each revolving credit-account to determine whether a trigger spend occurred;
- for each of the revolving credit-accounts in which a trigger spend occurred, review the spend amount for each month subsequent to the trigger spend;
- for each of the revolving credit-accounts in which a trigger spend occurred, review the balance amount for each month subsequent to the trigger spend;
- identify those revolving credit-accounts in which the balance amount increases and the spend amount decreases in the months subsequent to the trigger spend;
- and
- determine that a revolving-credit account's balance amount increased in the months subsequent to the trigger spend, if the balance amount seven months after the trigger spend is greater than the balance amount one month after the trigger spend.
10 more elements
A method comprising:
- receiving transaction data taken from a plurality of revolving-credit accounts, wherein, for each revolving credit-account, the transaction data comprises:
- a credit-limit amount;
- a spend amount for each month;
- and
- a balance amount for each month;
- using a processor to evaluate a customer's ability to manage revolving credit by:
- reviewing the transaction data of each revolving credit-account to determine whether a trigger spend occurred;
- for each of the revolving credit-accounts in which a trigger spend occurred, reviewing the spend amount for each month subsequent to the trigger spend;
- for each of the revolving credit-accounts in which a trigger spend occurred, reviewing the balance amount for each month subsequent to the trigger spend;
- and
- identifying those revolving credit-accounts in which the balance amount increases and the spend amount decreases in the months subsequent to the trigger spend;
- and
- determine that a revolving-credit account's balance amount increased in the months subsequent to the trigger spend, if the balance amount seven months after the trigger spend is greater than the balance amount one month after the trigger spend.
10 more elements
A computer program product configured to evaluate a consumer's ability to manage revolving credit, the computer program product comprising a non-transitory computer-readable medium having computer-readable program instructions stored therein, wherein the computer-readable program instructions comprise:
- first instructions configured to receive transaction data taken from a plurality of revolving-credit accounts, wherein, for each revolving credit-account, the transaction data comprises:
- a credit-limit amount;
- a spend amount for each month;
- and
- a balance amount for each month;
- second instructions configured to review the transaction data of each revolving credit-account to determine whether a trigger spend occurred;
- third instructions configured to review the spend amount for each month subsequent to the trigger spend, wherein the third instructions are configured to execute this review for each of the revolving credit-accounts in which a trigger spend occurred;
- fourth instructions configured to review the balance amount for each month subsequent to the trigger spend, wherein the fourth instructions are configured to execute this review for each of the revolving credit-accounts in which a trigger spend occurred;
- and
- fifth instructions configured to identify those revolving credit-accounts in which the balance amount increases and the spend amount decreases in the months subsequent to the trigger spend
- sixth instructions configured to determine that a revolving-credit account's balance amount increased in the months subsequent to the trigger spend, if the balance amount seven months after the trigger spend is greater than the balance amount one month after the trigger spend.
8 more elements
Dependencies are inferred from the claim text.