I Made a Late Payment - Will it Affect My Credit Score?

Suppose that you mistake for one of the big no-no credit. She went out of town on vacation for a week came home and realized you totally forgot to pay your credit card. It happens all the time.

Chances are you are okay. The worst that can happen, has to pay you too late, but more than likely the creditors do not report a single late payment to the credit agencies. Not bad, most lenders and creditors Repayment of the story until 90 days in arrears, and if they do not report it, it's not end on your credit report. Since your credit score from the information on your credit report is calculated, you're in the clear.

But what if they do, and that late payment ends on your credit report. Unfortunately, if you have an otherwise good credit score, this will to you most. It was 100 points behind your credit score Knock - ouch! Late> Payments by people who already have a lousy credit score will not get dinged, almost as bad.

This may actually not quite true, however. The manner of calculating FICO credit scores is to us now spends some people, the forgiveness that a time error, but to punish other people who have a history of not paying their bills.

The best solution to ensure that this is not the case, automated pay bills. In this way, no matter what,Your bills paid for it.

However, if you make a story about late payments, you can in a little more effort. You wan to get a copy of your credit report, and take some steps to increase your credit score, you can not completely on your own.