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Credit Scoring - Payment History (2 of 6)
The most important factor regarding your credit score is your payment history.  Your ability to pay your accounts on time reflects 35% of your credit scores.  The credit scoring model certainly wants to know that you are paying your accounts as agreed.  The last 6 months are the most important time frame.  As time goes on older accounts and reportings have less weight to your score.  Although many factors come into play, a very recent hit to your credit could drop a score 50+ points
A credit report will usually show at minimum these catagories; 
Past Due 30-days late 60-days late 90-days late Collections Public Records, such as Judgments, Bankruptcy, Tax liens Past due accounts are accounts that are 1 day past due.  They will negatively affect your credit score while the account shows "past due".  If the account reports as paid before hitting the 30-day mark, then the past due amount will not show past due, and you won't have a long term credit hit as you would for a 30+ day late.
Credit reports have no "memory".  It is snapshot of what appears at the time the report is requested. 
30-day lates and greater are more permanent dings to your credit score. The worse the ... more

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