10 Steps to Repairing Your Credit. #7 Is Extremely Important

9. Pay On Time From Now On

After improving your credit score, don’t make the mistake of making late payments again.  If you are late, make sure you are not 30 days late or more.  Once you are 30 days late, it will go on your credit report.  If you are less than 30 days late (one billing cycle), then you are fine.  Just call your creditor and explain to them why you are late, pay the bill, and try to get the late fee waived.  Being late 30 days or more will dramatically impact your credit score.  When I was 30 days late on my payment, my score dropped from a 745 to 660.  That’s almost a 100 point drop because of one late payment.  So make sure you pay on time from now on.