Patent ID: 8001040
Filing Date: 2011-08-16
Classification: G06Q

Abstract:
1. A method of rating a consumer in connection with a transaction initiated by the consumer with a merchant and requesting credit from a credit issuer not associated with the merchant, comprising the steps of: providing at least one digital computer, and using the at least one digital computer: (a) providing a merchant-based consumer/transaction data set including a plurality of data fields to a central credit issuer database; (b) providing a third party credit history data set including a plurality of data fields to a central credit issuer database; (c) providing a credit issuer credit history data set including a plurality of data fields to a central credit issuer database; (d) determining a consumer rating index variable based upon a scoring formula utilizing at least one data field value from at least one of the provided merchant-based consumer/transaction data set, the third party credit history data set and the credit issuer credit history data set; and, (e) presenting the consumer rating index variable to the credit issuer, wherein the method is initiated substantially at the time the credit transaction is initiated.