3. A frequent question in credit forums is whether a payment a few days late will get reported to the credit bureaus. Some have mistakenly claimed that payments must be at least 30 days late before they affect a FICO score. In truth, a creditor can report a payment that is even one day late.
http://blog.credit.com/2013/12/5-myths-about-late-payments-your-fico-scores-71720/
One of the realities of your credit score is that the higher your credit score is, the bigger hit it will take if you are late on one payment. This is true of one late mortgage payment or one late credit card payment as well, when paying 30 days late can drop your score 100 points if you have a score of 780. The drop is less if you have a lower credit score. The same is true of a late car loan payment. If you have a higher score, you have more to lose.
http://blog.readyforzero.com/one-late-car-payment-hurt-credit-score/
The 30-Day Myth. A frequent question in credit forums is whether a payment a few days late will get reported to the credit bureaus. Some have mistakenly claimed that payments must be at least 30 days late before they affect a FICO score. In truth, a creditor can report a payment that is even one day late.
http://blog.credit.com/2013/12/5-myths-about-late-payments-your-fico-scores-71720/
A few late payments will not automatically kill your credit score if you have an overall good credit picture. As long as other factors in your credit file are good, you can outweigh one or two instances of late payments. This means your credit utilization should be low.
http://rebuildcreditscores.com/how-to-recover-your-credit-score-from-late-payments/
That's why an account is reported '30 days late' on a credit report , Rod Griffin, director of public education for credit bureau Experian, says. And if that late payment doesn't show up on your credit report, it can't be factored into your credit score. But that doesn't mean you have nothing to worry about. Late payments can still trigger fees or other penalties. Luckily, you may be able to get any penalty charges removed from your account.
http://www.creditcards.com/credit-card-news/jeremy-simon-day-late-car-payment-credit-score-1508.php
In practice, however, not all do. As a generalization, late payments on revolving accounts such as credit cards tend not to get reported until they are 30 days late. In contrast, late payments on installment loans like a car loan generally get reported sooner. Keep in mind that these are generalizations, not rules.
http://blog.credit.com/2013/12/5-myths-about-late-payments-your-fico-scores-71720/
The truth is, FICO scores factor in the severity of the late payment. A 90-day late payment is more severe than a 30-day late payment. Don’t get lulled into inaction by the myth that all late payments are the same. They are not.
http://blog.credit.com/2013/12/5-myths-about-late-payments-your-fico-scores-71720/
It's important to pay your bills on time, since payment history is the biggest factor in your credit score. However, being a day late just once isn't likely to cause your score to fall.
http://www.creditcards.com/credit-card-news/jeremy-simon-day-late-car-payment-credit-score-1508.php
Payment history is the largest factor of a credit score. The first thing any lender wants to know is whether you’ve paid past credit accounts on time. Payment history is 35 percent of your credit score; and, late payments can remain on your credit report for up to 7 years. As written about previously, one recent late payment can sink a good credit score by as much as 100 points. Recover Your Credit Score. Create a good credit picture.
http://rebuildcreditscores.com/how-to-recover-your-credit-score-from-late-payments/
You can recover your credit score from a late payment prior to charge-off by immediately paying on time and staying current with your payments. In a matter of months, your credit score can be back on track as long as you get current and stay current with your payments. Alert your Creditor.
http://rebuildcreditscores.com/how-to-recover-your-credit-score-from-late-payments/
how to come back on your credit score from a few late payments
To come back on your credit score from a few late payments you have to charge-off by immediately paying on time and staying current with your payments.