Fengqile is a formal loan platform with credit reporting. However, it is recommended not to borrow this loan. It is expensive to pay in installments, and if you use it too much, it will affect your credit record.

1. Fenqile is an installment loan platform established in Shenzhen in 2013. It went online after being inspected by the China Banking Regulatory Commission and authorized by the National Credit Information Center. Therefore, installment music is absolutely legal.

2. Fenqile has established long-term strategic partners with a number of JD.com’s network operation malls to provide different consumer loan models, which are favored by the public and have basic rights and interests guaranteed by national laws.

3. Precisely because of its legality, the national legal department has also issued a series of policies for overdue music installments. Regarding the non-repayment of music loans, the first is to keep bad loan records on personal credit reports, and the second is the fundamental obligation to punish malicious loan officers

4. In terms of business model, Stage Music and Jingdong Mall and Cooperation with many partners. The earliest purchase of mobile phones was in stages, and gradually expanded to the entire consumption scenarios such as 3C digital, outdoor sports, beauty and health care, education and training, eating, drinking and entertainment.

5. As of April 2016, the number of registered users of staged music exceeded 8 million, providing comprehensive support for the reasonable consumption of young people and white-collar workers. In 2015, annual music sales exceeded 10 billion yuan, and monthly sales exceeded 2 billion yuan. Stage Music has created a business model for small and micro consumer finance on the Internet. On the consumption front, Fenqiu Music has improved users’ shopping experience through cooperation with JD.com. On the back end of creditor's rights processing, Orange Financial Management was launched in stages in June 2014. All claims are exclusively represented in stages, forming a closed-loop ecosystem of "self-produced and self-sold".

6. For installment loans, the customer needs to apply first, and then the system will evaluate the customer based on the customer's comprehensive qualifications and other information. If the evaluation passes, the loan can generally be issued quickly. Lehua Loan is a product launched by Fenqile and its partners. The maximum loan amount is 50,000 yuan and the maximum loan period is 36 months. The installment loan limit is provided by partner institutions. Fenqile's current partner institutions include Industrial and Commercial Bank of China, Bank of Shanghai, Shanghai Pudong Development Bank, etc. Of course, the audit conditions of each institution are different. However, these institutions will give a comprehensive score based on the applicant's credit status and previous loan history, so the loan conditions are still relatively strict.