FICO scores evaluate late payment information in a variety of ways - in terms of the frequency of missed payments, the recency of the missed payments, and the level of delinquency (how late the payment is).

The impact on the score due to missing a payment will depend on the current status of the credit report and the level of delinquency. For example, the impact will probably be more substantial if a payment is missed this month and the credit report is otherwise spotless or relatively clean. There will be less impact on the score if the credit report currently has multiple negative items.

Bottom Line: Paying bills on time every month can positively affect a FICO score over time.