We know that late payments hurt your credit score, but how many points do you lose from one 30 day late payment? Or how many points will you gain by paying off a credit card balances? What would bankruptcy do to your credit score.
Not too long ago, FICO gave us some insight into how many points you stand to lose by certain credit mistakes. For example, missing a credit card payment could cause your credit score to drop anywhere from 60 to 110 points. The thing is, specific credit score changes depend on your current credit score and all the other information on your credit report. If your credit score is high, you stand to lose a lot of points from credit mistakes. On the other hand, you'll generally lose fewer points when your credit score is low. The same thing goes for actions that would increase your credit score - like a credit limit increase or paying off a balance.
A credit score simulator would give you a better idea of how your credit score would change if you made certain actions, because the simulator would pull your credit report data. CreditKarma.com has a free simulator based on your TransUnion credit report and score. MyFICO.com also has a simulator. It's $19.95, but lets you view your FICO score - the score used by most lenders - for either your TransUnion or Equifax credit report.
Learn More About Credit Scores