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#1: You Get A Little Leeway If You're Late

If you've ever missed a payment on an account that shows up on your credit report, you may have seen your credit score drop like a rock. With FICO 08, however, an isolated late payment affects your score less than it does now, provided that your other bills are paid on time.

But fall behind on several bills, and the impact to your score will likely be even worse. Keep in mind that, under any version of the FICO formula, a very recent late payment can have a significant impact on your score. If you've fallen behind, click here to get back on the right track.