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In general, the loan record on credit is kept for 5 years, and the application approval record is kept for 2 years. If there is a record of late repayment, it will be deleted after 5 years of repayment according to the Regulations on the Administration of the Credit Reference Industry. If it has not been repaid, then it will be retained until 5 years after it has been repaid.
Now there are a lot of small loan products, do not need to go to the bank, the loan to the account fast, so many people loan more and more, and finally can not pay the money produced overdue, the loan is to be on the credit record, many people are worried about the credit loan record will always exist, then how long the credit loan record to eliminate it?
In general, the loan record on the credit card to retain 5 years, the application approval record to retain 2 years. If there is a record of late repayment, according to the "credit industry management regulations", pay off the 5 years will be done to delete the processing. If it has not been repaid, then it will be retained until 5 years after it has been repaid.
But if the loan is not overdue and has been settled, this record has little impact on personal credit. And in the bank for business, will mainly look at the user's credit record in the past two years, if the user maintains a good consumption and repayment record, then still be able to apply for a loan.
How long does it take to eliminate credit after a small loan is paid off
Small loan credit is eliminated after 5 years. The central bank's policy on credit is to keep records for five years and then automatically remove them. However, it should be noted that if the borrower is just an ordinary use of the record, usually normal after 5 years will be eliminated.
Personal credit refers to the activities of personal credit agencies established by law to collect and process personal credit information and to provide personal credit information inquiry and evaluation services according to user requirements. A personal credit report is a record of personal credit history that a credit collection agency collects and processes information in accordance with the law, and finally provides to legitimate information inquirers in accordance with the law.
As of 2015, the database included 870 million natural persons***, of which 370 million had credit records.
In May 2019 a new version of personal credit was officially launched, the length and granularity of credit information will be further improved.
September 30, 2021, the Measures for the Administration of Credit Collection Business have been considered and passed by the 9th Banking Meeting of the Central Bank in 2021 on September 17, 2021, and are hereby released and will come into effect from January 1, 2022 onwards.
At present, it is mainly used for various consumer credit businesses of banks. With the continuous improvement of the social credit system, credit reports will be more widely used in various commercial credit sales, credit transactions and recruitment and job search. In addition, the personal credit report also provides the inquirer himself with a way to review and standardize his own credit history behavior, and forms a checking mechanism for personal credit information.
Credit information
1, personal basic information that identifies the individual and reflects the individual's family, occupation and other circumstances;
2, personal credit information formed as a result of the individual's credit relationship with a financial institution or housing provident fund management center, etc.
3, personal credit relationships with commercial organizations, public utility service providers and The individual credit purchase, payment information;
4, administrative organs, administrative affairs executive agencies, judicial organs in the exercise of their powers and functions in the process of the formation of public **** record information related to personal credit;
5, other information related to personal credit.
Influencing Factors
The main factors that may affect a person's credit risk score are: a history of late repayment in loans, or credit card overdrafts that have not been repaid in accordance with the agreed time period and repayment due, or too many loan accounts and credit cards, and so on.
Regulations on the Administration of Credit Collection
Article 25:If the subject of information believes that there are errors or omissions in the information collected, preserved, or provided by the credit collection agency, he has the right to raise objections to the credit collection agency or the provider of the information and ask for corrections.
The credit reference agency or the information provider receives the objection and shall mark the relevant information with the existence of objections in accordance with the provisions of the supervisory and management department of the State Council's credit reference industry, verify and process the objections within 20 days from the date of receipt of the objections, and reply to the objector in writing with the results.
How long does it take for a small loan inquiry credit record to be eliminated
1, if people previously applied for online loan products that are not creditworthy, then the loan application record will only exist in the online loan big data. Generally every 3-6 months or so, the online loan big data will be automatically updated, at which time everyone's previous small loan records will be cleared.
2, the central bank credit will be automatically updated every 5 years, that is to say, you apply for small loans on the credit record will be eliminated only after 5 years. Although the central bank credit update time is longer, but in fact, many financial institutions only query the credit record of everyone in the past two years. If it is only a loan application record and not a credit stain, the impact on the loan is very small as long as these records are not all current.
Will too many small loan application records have an impact
1, if people apply for online lending products that are not connected to the central bank credit, as long as they are not applying for dozens of platforms in the same day, basically it will not have an impact on them. If you are applying for too many on the same day, it is easy to let everyone's ID card and cell phone number and other information into the wind control list, resulting in the next loan application directly rejected in seconds.
2, if the application and the central bank credit line loan products, as long as the user applies once, everyone's personal credit record will be queried once, the more applications the more inquiries. If you apply frequently within a short period of time, it will lead to the creditworthiness of the flower, affecting the next loan application. But if people apply for loans at longer intervals each time, then basically there will not be any impact.
What are the conditions for a small loan
1, the age of the borrower must be in the 18-60 years old, some banks will require the age of 20-50 years old, with full capacity for civil behavior of Chinese citizens;
2, in the bank for a small loan also requires the borrower to have a stable job and a fixed income, which is in order to confirm that the borrower has the ability to repay the loan principal and interest of a bank. A requirement to have the ability to repay the loan principal and interest;
3, the borrower also needs to provide a valid certificate of household registration in the loan location or can provide a valid certificate of long-term residence;
4, secondly, the borrower's personal credit needs to be good, no bad credit record, no illegal behavior;
5, the borrower also needs to meet the bank for small loans in the other regulations and requirements.
What is the best way to apply for a small loan
1, the bank's eLoan
To apply for the bank's eLoan, the applicant has to be a customer of the bank's payroll or a customer of the stock of the home loan, and on the basis of this condition, the application for the eLoan will be much easier. Bank of Communications eLoan is a pure credit loan that can be applied for through the Internet, and can provide borrowers with a maximum of 300,000 yuan and a term of up to three years.
2, China Merchants Bank Lightning Loan
China Merchants Bank Lightning Loan is one of the faster products in the bank network loan, the fastest 1 minute can be deposited into the account, the maximum borrowing amount of 300,000 yuan, as long as the loan conditions are met you can apply for a loan on the phone.
3, CCB Rong e loan
CCB Rong e loan is a consumer loan product, can bring the borrower a starting borrowing amount of 50,000 yuan of cash loans, if the borrower can submit some cash value of the collateral, it is possible to get more borrowing amount.