Does late payment affect credit score?

Does how many you miss matter? Does one late payment affect credit as much as two or three?

WalletHub, Financial Company

@WalletHub10/28/16

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Yes, late payments will affect your credit score, but only if they're more than 30 days late. That's when the credit bureaus are usually notified. It's hard to tell how severe the damage will be, but some of the factors taken into consideration are your current credit score (excellent or good credit scores are damaged more, usually), how late the payment itself is, and how frequently you’re late. For more information and some help with managing your payments on time, check out these articles:

Why On-Time Bill Payments Are Important & How To Never Miss A Due Date

Best Strategies for Paying Credit Card Bills & What Happens If You Don’t

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