Late payments appear as negative information on your credit report and are one of the most important factors in determining your credit score.
Creditors view your payment history as an important indicator of how you manage credit. Payments that are made a few days late rarely appear on credit reports. Payments that are made 30 or more days late, or not paid at all, raise red flags to creditors that you may be a credit risk.
If you have a late payment on your credit report, the best thing you can do is to bring the account current. A late payment will remain on your credit report for seven years, and then will be deleted automatically