Systems and methods of credit information reporting

Abstract

The present invention generally relates to monitoring and advising consumers of their outstanding credit balance by category of debt (i.e. including, but not limited to, the category of all credit cards, all real estate loans, all automotive loans, all revolving credit loans, etc.) and all minimum payments due by category of debt, and more particularly to an on-line method and system for monitoring and reporting total credit used by category of debt, total minimum payments due by category of debt and total unused available credit by category of debt, and alerting the consumer on a periodic basis via email. Since the credit report is the basis of most credit scores this invention is meant to provide the consumer with debt categories that are used in calculating their credit score, which is critical to future borrowing especially when the borrowing is approved or disapproved based only on the user's credit score.

1 . (canceled) 
     
     
         2 . A computer-implemented method comprising:
 receiving one or more custom settings of an individual indicating conditions of credit balance changes relating to at least one of: an outstanding balance, an available credit limit, or percentage of available credit used, wherein the conditions are used to trigger alerts to the individual;   continuously monitoring credit information of the individual to determine whether the conditions are met, the credit information indicating a plurality of credit card accounts associated with the individual; and   in response to determining that at least one condition of the conditions in the one or more custom settings is met, automatically:
 identifying one or more credit card accounts that are associated with a credit card category of a plurality of categories; 
 determining amounts of unused available credit for the one or more credit card accounts associated with the credit card category; and 
 transmitting a notification including the determined amounts of unused available credit for the one or more credit card accounts. 
   
     
     
         3 . The computer-implemented method of  claim 2 , wherein the notification comprises a warning for at least one of the determined amounts of unused available credit for the one or more credit card accounts, wherein the warning is generated based at least in part on a determined percentage of available credit used by the individual. 
     
     
         4 . The computer-implemented method of  claim 2 , wherein the monitored credit information does not include the amount of unused available credit for the corresponding credit card account. 
     
     
         5 . The computer-implemented method of  claim 2 , wherein the method further comprises: in association with the continuously monitoring the credit information of the individual, transmitting personal identifiable information of the individual to a credit bureau to retrieve the credit information as stored in a database maintained by the credit bureau. 
     
     
         6 . The computer-implemented method of  claim 2 , wherein the method further comprises: accessing the credit information from an internal database. 
     
     
         7 . The computer-implemented method of  claim 2 , wherein the method further comprises: transmitting, to the individual, the available unused credit for the credit card category upon request by the individual. 
     
     
         8 . The computer-implemented method of  claim 2 , wherein the method further comprises: determining a total amount of unused available credit for the one or more credit card accounts associated with the credit card category, wherein the condition comprises the total amount of unused available credit meeting a threshold, and the notification further includes the total amount of unused available credit. 
     
     
         9 . The computer-implemented method of  claim 2 , wherein the method further comprises: determining a total outstanding balance for the one or more credit card accounts associated with the credit card category, wherein the condition comprises the total outstanding balance meeting a threshold, and the notification further includes the total outstanding balance. 
     
     
         10 . A system comprising:
 memory; and   one or more physical processors configured with processor-executable instructions that cause the one or more physical processors to:
 receive one or more custom settings of an individual indicating conditions of credit balance changes relating to at least one of: an outstanding balance, an available credit limit, or percentage of available credit used, wherein the conditions are used to trigger alerts to the individual; 
 continuously monitor credit information of the individual to determine whether the conditions are met, the credit information indicating a plurality of credit card accounts associated with the individual; and 
 in response to determining that at least one condition of the conditions in the one or more custom settings is met, automatically:
 identify one or more credit card accounts that are associated with a credit card category of a plurality of categories; 
 determine amounts of unused available credit for the one or more credit card accounts associated with the credit card category; and 
 transmit a notification including the determined amounts of unused available credit for the one or more credit card accounts. 
 
   
     
     
         11 . The system of  claim 10 , wherein the credit information includes an outstanding balance, an available credit limit, or percentage of available credit used for a corresponding credit card account. 
     
     
         12 . The system of  claim 10 , wherein the notification includes a graphical or tabular format including the determined amounts of unused available credit for the one or more credit card accounts. 
     
     
         13 . The system of  claim 10 , wherein the notification includes a hyperlink that when selected by the individual, routes the individual to a user interface that requests additional information from the individual. 
     
     
         14 . The system of  claim 13 , wherein the additional information includes the individual's income. 
     
     
         15 . A non-transitory computer storage medium storing computer-executable instructions that, when executed by one or more processors, cause the one or more processors to at least:
 receive one or more custom settings of an individual indicating conditions of credit balance changes relating to at least one of: an outstanding balance, an available credit limit, or percentage of available credit used, wherein the conditions are used to trigger alerts to the individual;   continuously monitor credit information of the individual to determine whether the conditions are met, the credit information indicating a plurality of credit card accounts associated with the individual; and   in response to determining that a first condition of the conditions in the one or more custom settings is met, automatically:
 identify one or more credit card accounts that are associated with a credit card category of a plurality of categories; 
 determine amounts of unused available credit for the one or more credit card accounts associated with the credit card category; and 
 transmit a first notification including the determined amounts of unused available credit for the one or more credit card accounts. 
   
     
     
         16 . The non-transitory computer storage medium of  claim 15 , wherein the custom settings include setting periodic updates to the individual for the monitoring of credit information. 
     
     
         17 . The non-transitory computer storage medium of  claim 15 , wherein the instructions further cause the one or more processors to at least:
 continuously monitor trade line information of the individual as stored in a credit bureau database to determine whether the conditions are met;   in response to determining that a second condition of the conditions in the one or more custom settings is met, automatically:
 identify trade lines associated with respective debt categories of a plurality of debt categories; 
 determining amounts of unused available credit for individual debt categories; and 
 transmitting a second notification including the determined amounts of unused available credit for the individual debt categories. 
   
     
     
         18 . The non-transitory computer storage medium of  claim 17 , wherein at least one of the debt category categories includes at least one of: an auto loan debt category, a home mortgage debt category, or a term loan debt category. 
     
     
         19 . The non-transitory computer storage medium of  claim 17 , wherein the credit information includes at least one of: a total amount of debt; a revolving credit balance, limit or minimum monthly payment for the revolving credit balance; credit card balance, limit and minimum monthly payment for a credit card; mortgage and bank line of credit balance, limit and minimum monthly payment for a mortgage or bank line; or other line of credit balance, limit and minimum monthly payment for the other line of credit. 
     
     
         20 . The non-transitory computer storage medium of  claim 17 , wherein the second notification includes a graphical or tabular format including the determined amounts of unused available credit for the one or more credit card accounts. 
     
     
         21 . The non-transitory computer storage medium of  claim 17 , wherein the second notification includes a hyperlink that when selected by the individual, routes the individual to a user interface that requests additional information from the individual.