Patent ID: 7991689

Claim:
A computer implemented method of developing a data model for automatically identifying bust out fraud records comprising: accessing computer-executable instructions from at least one computer-readable storage medium; and executing the computer-executable instructions, thereby causing computer hardware comprising at least one computer processor to perform operations comprising: receiving a set of only credit bureau data; analyzing the set of only credit bureau data to develop a credit bureau bust out model that predicts the propensity of a consumer to be engaged in bust out fraud; receiving a selected consumer record related to the consumer; applying the credit bureau bust out filter in real time to the selected consumer record; and generating a credit bureau bust out score for the selected consumer record, the credit bureau bust out score indicating whether the consumer is engaged in bust out fraud, wherein bust out fraud involves 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.