How Does a Late Payment Affect My Credit Score?

It is impossible to predict the damage to the credit score due to a late payment for every consumer. The impact of a late payment will depend upon a lot of other factors such as the other information present of the credit report. FICO credit scoring models and other companies will develop credit scores to not reveal the exact details of how calculation is made to the public.

FICO did release FICO score loss information based on two hypothetical situations. In this scenario, the person with 680 credit score will be has one other late payment on their credit history would lose between 60 and 80 points for a 30 day late credit card payment while the person with 780 credit score with no other late payment would lose between 90 and 110 points.

If your credit profile similar to the ones mentioned above then the credit score might suffer a similar dent. You can predict the impact of a late payment on your credit score using the FICO score simulator. It’s available when you purchase the FICO standard product from myFICO.com. FICO standard product includes the credit report from your Equifax or TransUnion credit bureau and credit score.