Method and apparatus for explaining credit scores

US8078524B2 · kind B2 · utility

Assignee

• Fair Isaac Corporation · US

Inventors

• Stuart Crawford · Piedmont, US
• Andrew Flint · Bothell, US
• Sharon Hatcher · Larkspur, US
• Keith Owen Hillestad · White Bear Lake, US
• Thomas J. Quinn · Los Gatos, US
• Michael William Rapaport · Houston, US
• Sue Ann Simon · Sonoma, US
• Michael Steele · Michigan City, US
• Cheryl Lynne St. John · Petaluma, US

Key dates

• Filing date: Jun 25, 2002
• Grant date: Dec 13, 2011
• Expiry date: Dec 7, 2026

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The invention comprises a method and apparatus for explaining credit scores, for example in connection with a credit score explanation service, in which consumers can identify the sources of information used to establish their credit score, supply their credit report and credit score information in connection with their application for credit-related products and services, such as loans, and determine the effect on their credit score and cost for credit-related products and services based upon various hypothetical changes in their credit behavior.