I’ve had several people ask me, why do late payments hurt so much. Imagine never seeing an individual, who’s also promising to always pay, and one time they don’t, maybe three times they don’t.
See my point!
Trustworthiness is a very important attribute in credit. Sometimes we often think this is all about financial literacy terminology. When it is merely about human nature.
With lenders they could care less how big a bank is, they really want to see how dependable you are, as it pertains to payment history.
Not to mention how late payments fees and interest can play an integral role in your payment history.
Lastly, remember and understand the difference between a late payment, or a payment that Is a few days late, rather than a 30 day late or later missed payment.
A payment that is a couple of days late does not reflect on your credit report, but a payment at least 30 days late will!
