Computer-implemented method and system for dynamic consumer rating in a transaction
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United States of America Patent
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Aug 16, 2011
Grant Date -
Aug 14, 2008
app pub date -
Jan 25, 2005
filing date -
Jan 25, 2005
priority date (Note) -
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Abstract
Disclosed is a computer-implemented method (100) of rating a consumer in connection with a transaction initiated by the consumer and requesting credit from a credit issuer (28). The method (100) includes the steps of: providing a merchant-based consumer/transaction data set (16) to a central credit issuer database (20); providing a third party credit history data set (24) to the central credit issuer database (20); providing a credit issuer credit history data set (30) to the central credit issuer database (20); determining a consumer rating index variable (12) based upon a scoring formula (34) utilizing at least one data field from the provided data sets; and presenting the consumer rating index variable (12) to the credit issuer (28). A system (10) and apparatus (50) for rating the consumer in connection with this transaction is also disclosed.
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