1. Establish a credit record: timely repayment helps to establish a good credit record, which is very important for obtaining more credit and low-interest loans in the future.
2. Credit score improvement: timely repayment can improve personal credit score, which will make borrowers more competitive when applying for other loans.
3. Improvement of loan conditions: Maintaining a good credit record will enable borrowers to obtain more favorable loan conditions in the future, such as higher credit lines and lower interest rates.
4. Trust and cooperation: timely repayment shows that the borrower has a sense of responsibility and a spirit of keeping promises, which is conducive to establishing a good relationship of trust and cooperation with lending institutions.
5. Reduce the risk of default: timely repayment can reduce the extra expenses such as fines and late fees incurred by borrowers due to overdue or default, and avoid possible legal disputes.
Summary:
Repayment on time has a positive impact on the credit record, credit score and loan conditions of online loan borrowers, and also helps to build trust and cooperation and reduce the risk of default. Pre-loan risk testing, 1 minute to understand the reasons for rejection, and quickly go to Qingquan to check.
Extended data:
Timely repayment is not only good for personal credit, but also very important for the whole society and financial system. Good repayment habits can promote financial institutions to better assess the credit risk of borrowers and improve the healthy development of the entire online lending industry. In addition, the China Municipal Government has also strengthened the supervision of the online loan industry, encouraged borrowers to repay loans on time, and cracked down on violations, so as to maintain the financial market order and protect consumers' rights and interests.