One late payment can kill your credit score. Therefore, it is very important for you to be diligent and pay all your bills one time.
FICO gave a small peek behind the curtain at how their scoring model works and showed just how much mortgage delinquencies affect your credit score.
The example they gave drew attention to three different FICO scores on the higher end of the spectrum (680, 720, and 780) and how one late payment of 30 days affected each score.
According to FICO, the impact of a 30-day late payment on a consumer’s mortgage varies greatly depending on how high the consumer’s credit score already was.