Have you ever been slack on a credit card payments? After the initial pain of throwing away $15 for the late payment fee - you can end up suffering a lot more pain down the track. One late payment on its own is not enough to ruin your chance of getting a loan – if you repay it and make your repayments on time from that point on. But a number of late payments on your credit report is a sign of significant financial stress or just plain bad money management skills, so it may make lenders reluctant to approve you for a home loan in the future. It’s not just late payments on your credit card that matter, either. Dishonours for direct debits can also be viewed as a sign of poor money management.