Method and apparatus for explaining credit scores

1. A method comprising:

initializing a score simulator tool for a consumer, the score simulator tool providing a plurality of predefined actions that represent future actions that can be taken by the consumer;

receiving, from the consumer, a selection of a future action from the plurality of predefined future actions;

performing, based on the selection and a real credit score of the consumer, a simulation to generate a simulated credit score of the consumer, the real credit score comprising credit bureau data characterizing financial transactions associated with the consumer, the simulated credit score representing an impact of the future action on the real credit score;

displaying the simulated credit score to the consumer, the simulated credit score representing a range of scores; and

displaying an explanation of the impact of the selection on the real credit score to produce the simulated credit score, the explanation based on a comparison of the simulated credit score to the real credit score.

2. The method of claim 1 , further comprising:

reinitializing, based on an input from the consumer, the score simulator tool;

receiving, from the consumer, a new selection of a future action from the plurality of predefined future actions;

performing, based on the new selection and the real credit score, a new simulation to generate a new simulated credit score; and

displaying the new simulated credit score and a corresponding new explanation to the consumer.

3. The method of claim 2 , further comprising:

cumulating the simulated credit score and the explanation with the new simulated credit score and the new explanation.

4. The method of claim 2 , wherein the simulation and the new simulation are mutually exclusive; and

wherein impacts of the first simulation and the second simulation are not additive.

5. The method of claim 1 , wherein the range of the simulated credit score is displayed graphically.

6. The method of claim 1 , wherein the explanation further comprises factors that can affect the real credit score of the person.

7. The method of claim 6 , wherein the displayed explanation is generated using a consumer credit score explanation service database.

8. The method of claim 1 , wherein the comparison of the simulated credit score to the real credit score comprises calculating the difference between the simulated credit score and the real credit score, and assessing the difference for accuracy.

9. The method of claim 1 , further comprising:

providing a table in the consumer credit score explanation service database for storing generated variables required for said credit score simulator;

forwarding a unique identifier to a score simulator query page in a uniform resource locator (URL) which allows for a query of a generated variables record that is unique to the explanation; and

providing a second unique session identifier to the consumer, the second unique identifier used to authenticate the consumer.

10. The method of claim 1 , further comprising:

providing the consumer with a link to a credit provider, the link containing an offer from the credit provider to the consumer of one or more credit products; and

passing the explanation to the credit provider upon an acceptance of the offer by the consumer.

11. A non-transitory computer program product comprising a machine-readable medium storing instructions that, when executed by at least one programmable processor, cause the at least one programmable processor to perform operations comprising:

initializing a score simulator tool for a consumer, the score simulator tool providing a plurality of predefined actions that represent future actions that can be taken by the consumer;

receiving, from the consumer, a selection of a future action from the plurality of predefined future actions;

performing, based on the selection and a real credit score of the consumer, a simulation to generate a simulated credit score of the consumer, the real credit score comprising credit bureau data characterizing financial transactions associated with the consumer, the simulated credit score representing an impact of the future action on the real credit score;

displaying the simulated credit score to the consumer, the simulated credit score representing a range of scores; and

displaying an explanation of the impact of the selection on the real credit score to produce the simulated credit score, the explanation based on a comparison of the simulated credit score to the real credit score.

12. A system comprising:

at least one programmable processor; and

a machine-readable medium storing instructions that, when executed by the at least one processor, cause the at least one programmable processor to perform operations comprising:

initializing a score simulator tool for a consumer, the score simulator tool providing a plurality of predefined actions that represent future actions that can be taken by the consumer;

receiving, from the consumer, a selection of a future action from the plurality of predefined future actions;

performing, based on the selection and a real credit score of the consumer, a simulation to generate a simulated credit score of the consumer, the real credit score comprising credit bureau data characterizing financial transactions associated with the consumer, the simulated credit score representing an impact of the future action on the real credit score;

displaying the simulated credit score to the consumer, the simulated credit score representing a range of scores; and

displaying an explanation of the impact of the selection on the real credit score to produce the simulated credit score, the explanation based on a comparison of the simulated credit score to the real credit score.