does late payments affect your credit score
If you have a payment that is more than 30 days late, your creditor may report it to the credit reporting agencies (CRAs). In this case, the late payment can show up on your credit report and be factored into your credit score.Late payments will be listed on your credit report depending on how late they are: 30 days late, 60 days late, 90 days late, 120 days late, 150 days late, or charged off.n addition to lowering your credit score, a late payment could also cost you in the form of late fees and higher interest rates. If you pay your credit card bill even one day late, for example, you could be charged a late fee.