In the user's credit report, if there is no bad credit record, then the credit report is good. If there are overdue records, compensation records, administrative penalty records, etc. in the credit report, the user's personal credit report will be in a bad state. In fact, bad credit records can be deleted, but users must first solve the corresponding problems. If the problems are not solved, the bad credit records will remain.

Overdue records and compensation records will be retained in the credit report for 5 years as long as the overdue debt is paid off. After 5 years, the records will be automatically deleted. As for administrative penalty records, such records will not be deleted. However, this kind of record is not a criminal record and will not affect the user's daily life. Only when the user commits a crime again will the public relations agency retrieve the previous records.

In short, if there is no bad credit record in the user’s credit report, then the user’s credit report is good. If you have a good credit report and apply for credit business, your probability of passing the loan review will increase.

The development of my country's credit reporting industry has a history of more than 80 years since the birth of the first credit reporting agency, the "China Credit Reporting Institute" in 1932. But its real development began with reform and opening up. Since the reform and opening up, with the development and expansion of domestic credit transactions, the deepening of financial system reform, the increase in foreign economic exchanges, and the in-depth advancement of the construction of the social credit system, my country's credit reporting industry has developed rapidly.

The new version of the credit report of the central bank's personal credit reporting system has been launched online, and the "validity period" of overdue records has been officially set to five years. The new version of the credit report sets the starting point for overdue information as October 2009, and previous bad repayment records have been deleted.

Since the relevant departments have not clearly stipulated the time limit for negative records, in the old version of the central bank’s personal credit report, overdue records will be displayed no matter how many years ago they were. The new version of the credit report only displays consumers’ overdue records within the last five years.

In the past, citizens always complained that they could not understand personal credit reports because they were all tables and numerical codes. You had to refer to the notes to understand what each number meant. The new version of the report has changed the presentation method, which is mainly tables, and uses more text descriptions. Citizens can know at a glance which cards have been overdue and which repayments are normal. At the same time, the new version of the report also reserves a display area for information such as asset disposal and guarantor compensation.

In the early days of the establishment of China’s credit system, many people did not pay enough attention to personal credit and therefore overdue credit cards or loans. Since banks and workplaces will refer to these credit records, the long-term retention of negative information has a serious impact on the lives and work of these people. The launch of the new version of the central bank's credit report is equivalent to giving individual consumers who have been overdue and have paid off their debts an opportunity to make corrections and re-establish and accumulate their personal credit records. It is reported that if there is negative information on a personal credit report, residents may be affected when applying for credit cards and mortgage loans.