Patent ID: 8001042

Claim:
A method of detecting bust out accounts, wherein bust out accounts exhibit a consumer opening one or more credit accounts across one or more credit issuers and initially exhibiting normal consumer behavior followed by a large number of purchases, cash advances, or other uses of credit before abandonment of the one or more accounts, the method comprising: accessing, by a computing system, consumer data associated with a consumer; accessing a bust out scoring model from a storage repository, the bust out scoring model created using credit bureau data and at least one consumer characteristic statistically correlated with predicting bust out accounts; and periodically applying, using the computing system, the bust out scoring model to the consumer data of the consumer to generate a bust out score for the consumer, wherein the periodically applying the bust out scoring model comprises performing the following method on a periodic basis: accessing, by the computer system, updated consumer data associated with the consumer; applying, by the computer system, the bust out scoring model to the updated consumer data to generate the bust out score for the consumer; determining, by the computer system, whether the updated consumer data exhibits characteristics of bust out accounts by comparing the bust out score to a threshold level; and in response to the determining that the bust out score associated with the consumer is below the threshold level, providing, by the computing system, an indication to a user indicating that no bust out account has been detected; in response to the determining that the bust out score associated with the consumer is at or above the threshold level, providing, by the computing system, an indication to the user indicating that a potential bust out account has been detected.