If you’ve noticed that your credit score has taken a dip recently, there are different reasons why this may have happened. One of those reasons could be your payment history. If you’re late on a payment, skip a payment or default on a loan all together, those are all reasons that your score can be adversely affected.

Creditors want consumers who pay their bills regularly and on time each month. If your payment is late, new creditors may be concerned if you will be late on their payments.

If you skip a payment, they may be concerned if you will take their loan payments seriously. And of course, if you default on a loan all together, they will wonder if you will default on theirs too.