Would one late payment to a credit card spoil my credit history and rating? if so how badly?
2007-11-08 02:27:36 · 5 answers · asked by Layixter 2 in Business & Finance ➔ Personal Finance
How late?
They generally don't report you until you are more than 30 days late. They'll just charge you a $39 late fee if it's only a few days or even weeks.
Recent payment history is one of the strongest contributors to credit score and a new late pay could drop you substantially (50 or more points) if your credit was really good before.
good luck!
2007-11-08 02:42:14 · answer #1 · answered by Rush is a band 7 · 1⤊ 0⤋
Yes it does affect your credit score specially when you are using a major bank credit card. Paying bills on time is generally the single most important contributor to a good credit score. Being late on any bill, for any length of time, is a possible indication of future non-payment of debt and is almost always viewed negatively by lenders. Any late payments will remain on your credit report for up to seven years.
2007-11-08 02:57:06 · answer #2 · answered by Christopher P 1 · 0⤊ 0⤋
One late payment probably wouldn't be the end of the world as far as credit rating goes, don't make a habit of it though.
2007-11-08 02:33:12 · answer #3 · answered by Greg S 5 · 1⤊ 0⤋
One late payment will have minimal effect on your FICO credit score.
2007-11-08 02:42:25 · answer #4 · answered by Anonymous · 1⤊ 0⤋
One late payment can jack up your interest on all of your cards. don't do it.
2007-11-09 09:26:18 · answer #5 · answered by Steve R 6 · 0⤊ 0⤋