Will being late three days on my car loan payment affect my credit score?

I had to take a few unpaid days off from my bartending job for a family emergency. As a result, I'm going to be three days late in paying my car loan. Will this affect my credit score?

Answer
“No, making a payment three days late will not affect your credit. In most cases, you have to be 30 to 60 days late for it to affect your credit score.
You should be able to look at your contract to see the grace period for payments so you don’t incur a penalty. In addition, you can see how late your payments have to be before they actually start to affect your credit.
Call your lender and tell them of the situation. It’s a great relationship builder, and they’ll probably tell you not to worry about it.”
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Eric Schad
Answered on May 05, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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