2. You Pay Your Bills Late
Your payment history has a major impact on your credit score. U.S. News & World Report estimated that a single late payment can lower a credit score by 100 points or more. However, borrowers might be able to mitigate the damage, assuming they act fast.
While missing a payment by just a few days likely won’t put your scores at risk, paying bills 30 or more days late can have a serious effect on your credit.
How to avoid it: Do whatever is necessary to avoid being late on payments. If you are forgetful, set up reminders on your phone or computer. If you spend too much, tighten your belt so you’ll have the cash to make your payment.
How to fix it: If you paid a bill late, contact your lender to get its policy on reporting late payments. Unfortunately, if the lender has already reported the late payment, you probably won’t be able to get it removed from your credit report. You’ll just have to make sure all future payments are made on time.
