2007-01-31 05:34:35 · 7 answers · asked by Michael H 1 in Business & Finance ➔ Credit
YES Late payments even by ONE HOUR negatively affect your credit score! ! ! That is, some companies report you 30 days late if late at all. Like some CC co's. Seriously!!! Not permanently though, with on time payments in 6 months your score will rebound and improve.
2007-01-31 05:44:12 · answer #1 · answered by Step into the Freezer 6 · 0⤊ 0⤋
Usually they don't report until it falls to 30 days. There really isn't a way to report "5 days late" on your credit report. Also, you usually have some kind of grace period. If you are at the 30 day mark, then I would say yes, it would get reported. I'm sure you are also hit with late payment fees as well.
2007-01-31 05:45:37 · answer #2 · answered by BMW BFD 5 · 0⤊ 1⤋
Well how many days past due is it? Only 30 days or more gets reported to credit bureaus. If it is under 30 days then your certainly not late.
2007-02-03 19:17:19 · answer #3 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
No, it will only show on the credit report if you are 30 days or more late. Remember, it's the day the bank receives the payment, not the day you mail it.
2007-02-03 13:10:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Not really. Usually creditors only report payments past 30 days late. It is a good practice to always pay your bills on time though. Getting sloppy is not a good idea, even though you can be a little sloppy with payments without bad credit.
2007-01-31 05:44:07 · answer #5 · answered by PRS 6 · 0⤊ 1⤋
late payments do not reflect on your credit report unless you fall 30 days + behind, then obviously yes it has a negative impact on credit.
2007-01-31 05:38:26 · answer #6 · answered by Scott K 2 · 0⤊ 0⤋
late payments do not reflect on your credit report
2007-02-04 01:54:36 · answer #7 · answered by jerry 7 · 0⤊ 0⤋