bad credit

[thepheebster]

ive had good credit but recently i was 3 months late with a payment. will this affect me much?

[stevie21]

At worst it will be taken into consideration for a while when you're applying for credit but if it's genuinely a one-off then you shouldn't really notice it.
As a rule of thumb your last 12 months' behaviour largely determine your credit rating.

[ewand]

I wouldn't worry about it too much.  If I remember correctly, you are about to go to uni which will mean you will have various banks fighting over you for your buisiness.  If, later in life, when you have more responsibilities e.g. mortgage etc. and you start missing payments, you credit rating will definately be adversely affected.

That doesn't mean keep on missing payments without a worry!  It's best to always pay on time, and if you can't, contact the company immediately to discuss your options. 

You will find it much easier later in life if you keep up a good credit history!

Best of luck.