How does late payments on your credit card affect your rating and by how much in terms of calculations?

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2007-10-07 17:34:02 · 3 answers · asked by ivanmokorich 1 in Business & Finance ➔ Credit

One late payment is bad; two is horrid. The only thing worse than late payment is complete default.

2007-10-07 18:54:49 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋

they affect it big time and they do stay on for the full 7 years. i only had one of them and i was very pleased when it dropped off 5 years ago.

2007-10-08 02:15:44 · answer #2 · answered by Ida 5 · 0⤊ 0⤋

35% of your FICO score calculation is based on payment history.

2007-10-08 00:41:34 · answer #3 · answered by Laeticia 4 · 0⤊ 0⤋