Application for more than a dozen online loans a day was rejected, which affected credit reporting?
Influence.
At present, most online lending platforms in China have been connected to the credit information system of the People's Bank of China. When applying for loans, these platforms often use loan approval as an excuse to query users' personal credit information to understand the applicant's credit status.
If the applicant borrows frequently in a short period of time, more loan approval records will be left in the credit report. There are too many hard query records, which will make the platform think that users are short of funds, have insufficient repayment ability and have high loan risk, which will easily lead to loan rejection.
Each lending institution has certain requirements for the number of hard inquiries, which cannot exceed ×× times per month. The number of specific requirements of each institution is different. Generally speaking, no more than 5 times a month, and no more than 10 times in the last three months.
In addition, the application for online lending platform above 10 failed for one day in a row. It is estimated that there is something wrong with the applicant's personal credit status, and it should be difficult to get a loan in the short term. Applicants are advised to stop lending and check the reasons for rejection before applying for a loan, otherwise it will only make the credit information more and more expensive.
What is the impact of applying for more than a dozen online loans a day?
Applying for more than a dozen online loans a day will have a certain impact. Because customers will leave corresponding records every time they apply for online loans, especially licensed consumer financial institutions will conduct credit investigation. If there are too many inquiry records in the name of "loan approval", it will engage in "flower garden" credit investigation. If customers have long-term loans, it is not conducive to the subsequent credit business.
Therefore, customers are advised not to apply for many online loans a day, and then apply according to the actual loan demand. If your application is rejected, don't rush to apply on other platforms. You can check the reasons for rejection first, then solve the problem and reapply.
Otherwise, if the problem is not solved, you will be easily rejected for the same reason if you are eager to apply for a loan again. For example, if the credit is not good, it is best to maintain good credit for a period of time, and then apply for personal credit after improvement. If the debt is too high, you can try to pay off part of the debt first and reduce the personal debt ratio before applying.
Can I borrow a lot of online loans?
Whether you can borrow a lot of online loans depends on the situation:
1. If many of the borrowed online loans have not been repaid, and many of them are recorded in the credit report, it may not be good to borrow again. Because the situation of multiple loans will inevitably lead to a high personal debt ratio, the subsequent loan approval will inevitably be suspected of unstable economic life and insufficient repayment ability, and may be rejected.
2. If all online loans only submit big data, you can still borrow from banks or other licensed financial institutions. Because the approval is mainly about credit reporting, it has nothing to do with big data. In this way, as long as personal credit remains good, there is a chance to borrow money.
3. If the online loan is overdue at the time of repayment, it won't be long before you can basically borrow money. Once the credit report/big data is submitted overdue, it will leave a bad record and cause personal credit damage. In this way, the subsequent loan approval is estimated to be rejected for fear of loan risk.