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April 2004 Credit Score: TransUnion/710, Eloan/675

Contributed by mm | April 25, 2004 3:43 AM PST

Now that I have two sources of credit score, TransUnion thru Providian and Eloan Credit Monitoring Service, I am becoming confused when the two numbers differ. This month, TransUnion put me to 710, a 13 point increase from last month's reading, while Eloan thinks my credit score is 16 points worse, now at 675.

Below table shows whateach service reported in the last 8 periods:

  TransUnion Eloan Difference
September-03 686 636 50
October-03 686 663 23
November-03 686 650 36
December-03 673 649 24
January-04 689 673 16
February-04 695 684 11
March-04 697 691 6
April-04 710 675 35

As you can see, TransUnion consistently reported a higher credit score than Eloan, and Eloan's score tends to be more volatile, lagging TransUnion score by a large margin in both September 2003 and April 2004. This makes me believe that Eloan weights credit inquiries much more than TransUnion, because I just closed my house in August 2003, and now I am in the midst of refinancing and just got a new card recently, causing a number of credit inquiries in both periods.

Back to the score itself, both services mentioned that high revolving debt as a factor that drags my score, and this is resulted from my taking advantage of the 12-month 0% APR offer in ShareBuilder Visa Platinum Card. I plan to bring my usage of this card to less than 50% by May and I am interested to see how it will affect my credit score.

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