 TITLE: How Your Tax Refund Could Improve Your Credit Score CONTENT: Catch Up on Late Payments\n-------------------------\nIf you recently missed a credit card or loan bill, you may be able to use your tax refund to catch up and avoid a hit to your credit scores.\nCredit card issuers typically don't report late payments to the credit bureaus until a full billing cycle, or about 30 days, has elapsed. Use your tax refund to make a payment before those 30 days are up, and you may avoid a late payment appearing on your credit report. That's crucial, because payment history is the most important factor in your credit scores.\nAdditionally, your issuer can charge you up to $29 in fees the first time you pay late, and $40 if you pay late again within the next six billing cycles. But if you don't regularly miss payments and you can catch up right away, the card issuer may waive the late fee. END