Missed Payments On Your Credit Score
How Missed Payments Affect Your Credit Score
When you miss a payment on a credit account, such as a credit card, loan, or mortgage, the creditor may report the missed payment to the credit bureaus. This information is then added to your credit report, and it can stay on your report for up to seven years.
The more recent the missed payment, the more significant the impact on your credit score. A missed payment can drop your score by as much as 100 points, depending on your credit history and the severity of the missed payment. Multiple missed payments can have an even more significant impact and can cause your score to drop significantly.