credit History?

Would one late payment to a credit card spoil my credit history and rating? if so how badly?

Public Comments

1. 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.
2. 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!
3. One late payment will have minimal effect on your FICO credit score.
4. 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.
5. One late payment can jack up your interest on all of your cards. don't do it.