2022 New Credit Report Regulations:
1. After the new version of credit report goes online, the credit report update frequency will be reported in accordance with T 1, that is, it will be updated once every other day, and the old version will be reported once a month. Compared with one time, the update speed is faster and the user's credit situation can be better recorded.
2. The husband and wife are the same borrowers. For example, if the husband and wife take out a loan to buy a house, it will be reflected in the credit reports of both parties, and the main lender will no longer bear the liability.
3. Bad information in personal credit reports, such as overdue, bad debts, etc., will be retained for 5 years from the date of termination, and the records will be more detailed. Even if the account is closed, there will still be relevant records.
4. The installment time and installment amount recorded in the new version of the personal credit report are all included in liabilities, and the records are more detailed.
5. Completely display academic information, employment status, email information, correspondence address, household registration address, and all personal mobile phone numbers. And the spouse's information is relatively complete, such as name, ID type, ID number, work unit and contact number, and the individual's detailed residence information in recent years is recorded in the book.
6. Added information query for valid documents such as passports and military ID cards, including the mobile phone number and information update date reported by the system for the last 5 business transactions under my name.
7. In addition to loan information, information such as telecommunications and water service payments, tax arrears, civil rulings, enforcement, administrative sanctions, subsistence allowances, professional qualifications, administrative rewards, etc. are all recorded.
8. Guaranteeing for others will also appear on your credit report and will be reflected as your own liability. At least it will affect personal loan approval, and at worst, personal assets will be frozen and consumption will be restricted.
Legal Basis
"Credit Reporting Business Management Measures"
Article 4 Who engages in personal credit reporting business shall obtain a personal credit reporting agency from the People's Bank of China in accordance with the law License; those who engage in enterprise credit reporting business must go through the corporate credit reporting agency registration process in accordance with the law; those who engage in credit rating business must go through the credit rating agency registration process in accordance with the law.
Article 8 Credit reporting agencies shall not collect credit information in the following ways:
(1) Deception, coercion, or inducement;
(2) Information subject Charges;
(3) Collecting from illegal channels;
(4) In other ways that infringe upon the legitimate rights and interests of information subjects.
Article 20: The retention period of personal bad information collected by credit reporting agencies is 5 years from the date of termination of the bad behavior or event.
When the retention period for personal adverse information expires, the credit reporting agency shall delete the adverse personal information from external services and applications; if it is used as sample data, it shall be anonymized.