Credit Scores & Credit Reports

Why do you care?

Credit Scores and Credit Reports are the primary source your lenders will use to determine your creditworthiness! Correcting any errors is key to provider lenders with your true worthiness, lowering your interest, increasing your buying power, increasing your disposable income, and more! 


FIRST A quick search on the internet can reveal a massive amount of advertising and options to obtain and maintain your credit report. At $30 a month, you are paying $360, so evaluating the benefits and costs. SECOND. Beware of companies scamming your information online for free or a low fee. They get your social security, birth date, email address, and credit card information - this is not good if they are criminals. 

WHAT'S YOUR SCORE? Why do you care?

AKA "FICO score" or "Credit Rating." Basics: It is a three digit point system created and used to evaluate and analyze credit points. It compares your past and current spending, credit use, and payment along with other factors as compared with similar consumers.  The credit scoring method was changed to the VantageScore in 2006. 

Score Range: 300-850

Poor: below 650 Good: above 650  (Less of a Credit Risk)

What Matters:

Types of Credits, Recent Credit, Balance on Credit, Balance on Credit in Comparison to Available Credit, Payment History, Length of Credit Lines & Average Credit Length, Number of Credit Lines, and more

WHAT IS IT USED FOR? Creditors are able to quickly evaluate your behaviors based on this score. This method takes out factors that are irrelevant and provides a more objective process in credit lending, landlord evaluation, and insurance companies. 


At least when you are denied and once a year, you can obtain your credit report free. 

Credit Report Free:

After establishing your first overall report, you can obtain your reports at various points in the year to keep a check...  Equifax in January 1, Experian in May 1, and Transunion Sept 1. 


Rica J. Gilmore, Broker, Realtor® 

  • Virginia License VA #0225235314 
  • Rica Jo Ann Gilmore,​ ​Realtor®​ ​ ​
  • Graduate, REALTOR® Institute
  • ​​Rica Realty​​​ ​​​VA #0225235314​
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Rica Jo Ann Gilmore, Broker  Realtor®144 Shoe Lane, Newport News, VA 23606 1-757-932-7422  

North Carolina License NC 305512:  Rica J. Gilmore, Broker The Virtual Realty Group - Independent Firm Main office: 8116 Arlington Blvd, Ste 115, Falls Church, VA 22042 Telephone 1-888-407-2410 

The listings data displayed on this medium comes in part from the Central Virginia Regional MLS, (CVR MLS) and has been authorized by participating listing Broker Members of Central Virginia Regional MLS, (CVR MLS) for display. Central Virginia Regional MLS, (CVR MLS)  listings are based upon Data submitted by its Broker Members, and Central Virginia Regional MLS, (CVR MLS) therefore makes no representation or warranty regarding the accuracy of the Data. All users of Central Virginia Regional MLS, (CVR MLS) listings database should confirm the accuracy of the listing information directly with the listing agent.

CVR MLS and/or Rica J. Gilmore and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain complications of Data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.

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