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October 20th, 2007 at 06:49 am

I know that I have mentioned in the past that I have my free checking and savings with WAMU. The savings account is great! I get 5% interest with no minimum balance. The other thing that I like about WAMU is that I have their credit card and some of the features of that card is when you go online you are able to get your credit score free of charge. The credit score is updated once a month. You only get the score and it alternates between the credit agencies. This month my score was generated by Transunion. If you want a detailed explanation of the score, they give you the option to purchase it, right on the same page.

What I find hard to understand...is that my score goes up and down. From 730-760. Without me doing a thing. For instance I have not carried a balance on a single credit card for over a year. Or for that matter have taken out any type of loan. I haven't been late on any payments. So why should my score change at all? For example the begining of last year my score was the highest it had ever been 765 then it droped to the 740's. Meanwhile my savings account had increased and my mortgage was going down???
I just can't understand how they arrive at their numbers.

I would like to get my score even higher by the end of the year b/c I will be taking out a builders loan for the cabin I intend on building. I would love to qualify for a great interset rate at that time.

3 Responses to “754”

  1. Ima saver Says:

    You need to be above 750 to get the best interest rate.

  2. littlemama Says:

    I was wondering the same thing. Mine flucuates also.

  3. Caoineag Says:

    Well, you did say they alternate credit reporting agencies, I am betting the fluctuation comes from that. One of my credit scores is low simply because no one talks to that agency (can't remember which one at the moment, its been a year since I checked). Also, paying bills and credit checks by companies can influence the outcome. I take a 20 point hit anytime I apply for a credit card but thats the only thing I know the exact result of and that comes off after a couple of months.

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