How to cancel the bad records in personal credit information
Once the loan or credit card repayment is overdue, this information will be reflected in the credit report, and after the user pays off the debt, the record of paying off will be clearly recorded in the personal credit report, but these objective facts will be retained, thus reflecting the personal credit status most truly.
According to the Regulations on the Administration of Credit Information Industry, the retention period of personal bad information by credit information agencies should be deleted after more than five years from the date of the end of the incident, that is, the date of payment of arrears. In other words, after paying off the arrears, the bad records will be kept for five years before being deleted.
Therefore, it is suggested that during this period, it is best to keep personal credit information "clean and tidy". The so-called cleanliness means that after bad records appear, there should not be too many records in personal credit information. Whether you apply for a bank loan or an online loan, whether you finally lend or not, these loan records will be recorded in your personal credit report, which will make your personal credit report "blossom" and a large number of records will appear.
Too many credit records will make banks think that users are financially nervous and there are great risks in the safety of funds, so they will be extra cautious when reviewing loans and may not approve them. Therefore, after bad records appear in the credit report, the correct way is not to apply for any loans or credit cards for at least half a year, so that the credit report will remain blank during this period.
How is personal credit reporting bad?
1. High-risk affiliated enterprises
If there are many affiliated enterprises or high-risk affiliated enterprises, it may attract special attention of banks, such as the design affiliated enterprises in KTV entertainment industry.
2. Overdue behavior.
"Three times a week, six times a week" is a serious breach of contract. Even if the repayment is made in time, the impact is still great. The most direct consequence is that it will affect the approval and loan amount, and 99% of banks will not approve it.
3. Loan records
If multiple loans are found recently and there are outstanding credit records, you can confirm the repayment source, loan renewal preparation and credit policy changes of the issuing institution with the customer, and reject those with high debt ratio.
4. Query records
Frequent application for loans and credit cards in the near future will affect the vigilance of the approving personnel, and they will think whether you are short of money recently. Besides lending to banks and other institutions that have not received credit information, they will also consider whether you may refuse your application in combination with your income.
5. Repayment situation
General banks will review the credit records of the last two years. If there is overdue, but the amount is relatively small and the overdue time is relatively short, it will not have much impact, and strive to ensure that there is no overdue behavior in the last six months to one year.