Credit Approval Monitoring System and Method

Abstract

A credit approval monitoring system comprises a database system storing credit files for consumers. A monitoring processing system monitors credit reports of subscribing consumers and transmits messages indicative of changes in a subscribers credit report. A screening processing system screens credit reports to determine if credit applicants satisfy select criteria. A watch processing system is operatively associated with the monitoring processing system and the screening processing system for periodically requesting the screening processing system to determine if the credit report of a select consumer satisfies the select criteria and sending the determination to the monitoring processing system to notify the select consumer if the screening processing system determines that the credit report of the select consumer satisfies the select criteria.

1 . A credit approval monitoring system comprising:
 a database storing credit files for consumers;   a monitoring processing system monitoring credit files of subscribing consumers and transmitting messages indicative of changes in a subscriber consumers credit file;   a screening processing system screening credit files to determine if subscribing consumers satisfy select credit criteria; and   a watch processing system operatively associated with the monitoring processing system and the screening processing system, the watch processing system being programmed to periodically request the screening processing system to determine if the credit file of a select subscribing consumer satisfies the select credit criteria and sending the determination to the monitoring processing system to notify the select subscribing consumer if the screening processing system determines that the credit file of the select subscribing consumer satisfies the select credit criteria.   
     
     
         2 . The credit approval monitoring system of  claim 1  wherein the watch processing system periodically requests screening of credit files for the select subscribing consumer after the subscribing consumer has been denied credit and subscribed to the monitoring processing system. 
     
     
         3 . The credit approval monitoring system of  claim 1  wherein the watch processing system transmits daily screening requests to the screening processing system. 
     
     
         4 . The credit approval monitoring system of  claim 1  wherein the monitoring processing system is operative to notify the select subscribing consumer if the screening determines that the select subscribing consumer satisfies the select credit criteria comprising transmitting an email message to the select subscribing consumer including a link to a credit bureau network site providing a marketing message to the select subscribing consumer. 
     
     
         5 . The credit approval monitoring system of  claim 4  wherein the credit bureau network site directs the select subscribing consumer to a credit grantor network site if the select consumer responds to the marketing message. 
     
     
         6 . The credit approval monitoring system of  claim 1  wherein the screening processing system determines if the select subscribing consumer satisfies select credit criteria of a credit grantor by determining a credit score for the select subscribing consumer and comparing the credit score to the select credit criteria. 
     
     
         7 . A credit approval monitoring system comprising:
 a database storing credit files for consumers;   a screening processing system programmed to screen credit files to determine if consumers satisfy select credit criteria; and   a watch processing system operatively associated with the monitoring processing system and the screening processing system, the watch processing being programmed to periodically request the screening processing system to determine if the credit file of a select consumer satisfies the select credit criteria and to notify the select consumer if the screening processing system determines that the credit file of the select consumer satisfies the select credit criteria.   
     
     
         8 . The credit approval monitoring system of  claim 7  further comprising a monitoring processing system operatively associated with the database and being programmed to monitor credit files of subscribing consumers and wherein the watch processing system periodically requests screening of credit files for the select consumer after the select consumer has been denied credit and subscribed to the monitoring processing system. 
     
     
         9 . The credit approval monitoring system of  claim 7  wherein the watch processing system transmits daily screening requests to the screening processing system. 
     
     
         10 . The credit approval monitoring system of  claim 8  wherein the monitoring processing system is operative to notify the select consumer if the screening determines that the select consumer satisfies the select criteria comprising transmitting an email message to the select consumer including a link to a credit bureau network site providing a marketing message to the select consumer. 
     
     
         11 . The credit approval monitoring system of  claim 7  wherein the screening processing system determines if the select consumer satisfies select criteria of a credit grantor by determining a credit score for the select consumer and comparing the credit score to the select credit criteria. 
     
     
         12 . A credit approval monitoring system comprising:
 a database storing credit files for consumers;   monitoring processing means for notifying subscribing consumers of changes in the subscribing consumers credit file;   screening processing means for screening credit files to determine if subscribing consumers satisfy select criteria; and   watch processing means operatively associated with the monitoring processing means and the screening processing means, the watch processing means for periodically requesting the screening processing means to determine if the credit file of a select subscribing consumer satisfies the select criteria and sending the determination to the monitoring processing means to notify the select subscribing consumer if the screening processing means determines that the credit file of the select subscribing consumer satisfies the select criteria.   
     
     
         13 . The credit approval monitoring system of  claim 12  wherein the watch processing means periodically requests screening of credit files for a consumer after the consumer has been denied credit and subscribed to the monitoring processing means. 
     
     
         14 . The credit approval monitoring system of  claim 12  wherein the watch processing means transmits daily screening requests to the screening processing means. 
     
     
         15 . The credit approval monitoring system of  claim 12  wherein the monitoring processing means is operative to notify the select subscribing consumer if the screening determines that the select subscribing consumer satisfies the select criteria comprising transmitting an email message to the select subscribing consumer including a link to a credit bureau network site providing a marketing message to the select consumer. 
     
     
         16 . The credit approval monitoring system of  claim 15  wherein the credit bureau network site directs the consumer to a credit grantor network site if the select subscribing consumer responds to the marketing message. 
     
     
         17 . The credit approval monitoring system of  claim 12  wherein the screening processing means determines if the select subscribing consumer satisfies select criteria of a credit grantor by determining a credit score for the select subscribing consumer and comparing the credit score to the select criteria.