How does a late payment affect my credit?

If you pay the bill ASAP, then your credit will not be effected. The credit card companies do not report the late payment to the credit bureaus unless you are 30 days late.

You will be charged a late fee by the credit card company of about $40, and it is possible that they will default the account to the highest interest rate, by your being late on first payment.

If it was under 30 days, it shouldn't effect your credit. If your credit card is where you have your checking account, you can set it up for auto-pay with a minimum payment. If you want to pay more, then you can just mail it in.

Usually there is a grace period where it will not be reported. You should be fine if you pay on or nearby that particular time. Also - make sure to pay just a little over the minimum required amount.