Late payments are never good — and the longer you wait to make your payment, the more it will hurt you. Your credit report classifies late payments in different tiers. There are 30-day late payments, 60-day late payments, and 90-or-more-days late payments. All of them will hurt your credit score. A 60- or 90-day late payment will hurt more than a 30-day late payment — but missing a full billing cycle can still sink your credit score by as many as 100 points. Your late payment will live on your credit report for seven years. The older it gets, the less impact it has on your credit score — as long as you replace it with new and positive data. In short, a late payment is very bad for your credit report and definitely not the best way to start your credit-building journey. If you miss your payment by just a few days (or less than 30), it will not be reported to a credit bureau. Still, you could be subject to late fees and a possible penalty APR that can increase your interest rate to as much as 30%. If you are near your payment due date and feel that you will not have the money needed to make a full payment, you should contact your credit card issuer to come up with a plan. Although it may feel a bit embarrassing, the issuer can often help you avoid some of the penalties associated with a late payment.