 TITLE: 7 Common Credit Mistakes and How to Avoid Them CONTENT: Not Paying Bills on Time\n------------------------\nYour payment history has a big impact on your credit scores, so missing even one payment could wreak havoc on your credit.\nThe good news is that late payments on loans and credit cards are reported only if you're late by 30 days or more. So while being just one day late may result in fees and penalties, it won't damage your credit if you get current on your account before the 30-day mark.\nIf you do get slapped with a late payment on your credit report, it'll remain on your report for seven years. While its impact on your score may diminish over time with new positive information, it can still hamper your credit growth the entire time it's on there.\nTo ensure you pay all your bills on time, request payment reminders from your lenders or, even better, set up autopay through your lender or bank account. Just make sure you have enough money in your bank account each month to cover your bills. END