My Personal Finance Journey

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August 2004 Credit Score: TransUnion/734, Eloan/666

Contributed by mm | August 25, 2004 8:07 PM PST

Once again, my credit score from both agencies are moving in opposite directions: my TransUnion FICO score improved 15 points to 734 while eLoan's CreditXpert credit score suffered a 44-point decline and now stands at 666.

Actually, this significant variance between the two scores does not surprise me much. The reason: the CreditXpert score picked up my $12,000 balance in my Fleet card after my massive balance transfer to two other cards. As a result, my total balance increased from less than $1,000 to over $14,000, and my available revolving credit deteroriated from 97% to 78%. (What makes things worse is I misread the fine prints and have to reverse the balance transfer.) The 666-point FICO score is in line with what PrivacyGuard reported at the end of July (Experian = 675, Equifax = 670, TransUnion = 669).

  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
May-04 704 679 25
June-04 730 700 30
July-04 719 710 9
August-04 734 666 68

What still bothers me is my refinanced mortgage at EverBank still hasn't show up in each of the reports. I am not sure at this moment what kind of impact it will bring to my credit score. Looking back, when my original ABN AMRO mortgage was moved out of my credit profile in June, my credit score received an immediate 20+ point gain in both services.

Anyway, as I stated recently, I will not apply for additional credit in the near future. Hopefully, I will see my score back to 700 before soon.

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