Is it necessary to check your spouse’s credit for a personal credit loan?

Introduction As our demand for loans increases, financial institutions or Internet platforms provide loan applications. The threshold has been relatively reduced. For example, personal credit loans are financial information services based on personal credit reports. So, do I need to check my spouse’s credit score for a personal credit loan? Take a look below.

Credit Loans

Personal credit loans are unsecured RMB credit loans issued by banks or other financial institutions to borrowers with good credit. When applying for a personal loan from a bank, the bank requires the use of loan funds. Regarding the issue of "checking your spouse's credit for a personal credit loan", let's analyze it together.

Do you need to check your spouse’s credit report for a personal credit loan?

Personal credit loans generally do not require a spouse’s credit check, but most bank credit loans require a spouse’s signature.

At present, common loan types include credit loans, mortgage loans, secured loans, mortgage loans, car loans, etc. But in addition to mortgage loans being taken on a household basis, there are also couple credit checks that need to be checked, and credit checks influence each other. Other types of loans are personal loans and will only check the lender's own credit check, not the spouse's credit check. Whether the spouse's credit check is good or bad generally has no impact on the borrower.

What is the maximum loan limit for a personal credit loan

Generally speaking, the personal credit loan limit is about 20,000 to 150,000. In theory, the borrower can borrow 150,000 yuan. In fact, many lenders have their own regulations that will limit the amount. In addition, the lending institution will determine the loan amount based on the borrower's credit history and repayment ability.

What are the factors that affect personal credit loan limits?

1. Work unit: Relatively speaking, for office workers, employees of state-owned enterprises and institutions are more likely to have more credit than employees of private enterprises. It is easy to obtain a higher credit limit, and the interest rate will be much lower;

2. Occupational nature: sales work is highly mobile, income is unstable, and the loan amount is lower than that of stable regular employees and management;

3. Credit record: If a borrower has a bad credit record, the loan amount will naturally be lower than that of a borrower with a good credit record;

4. Income stability: For office workers, the stability of the flow of cash is It is easier to obtain approval if the turnover is large, and it is easier to obtain a higher quota than the stable turnover if the turnover increases month by month;

5. Form of income: For office workers, the difference is whether the salary is punched in or paid. It is very large, it is easier to pass the review by punching in, and the amount will be higher;

6. Personal debt: If the borrower's debt ratio is too high, the loan amount will naturally not be too high.

Can one spouse take out a loan alone?

Yes. After obtaining the marriage certificate, one of the parties can also borrow money in their own name. For example, many consumer loans only require you to provide your personal information. If our personal credit is good and we have basic ability to repay the loan, we can pass the approval. In this case, everyone can usually successfully get a loan, and it has no impact on the other party.

Warm reminder: Although your spouse’s credit will not be checked when applying for a personal credit loan, your spouse’s credit will be checked when applying for a car loan or housing loan. Therefore, everyone should maintain a good credit score to avoid affecting future loans.

Related reading:

The difference between guaranteed loans and credit loans

Is an unsecured loan a credit loan?

A credit loan can only be a loan One time

How to apply for a credit loan

Can a credit loan only be applied for at one bank? Do I need to check the couple’s credit report for a personal credit loan?

Personal credit loans do not check the credit of both spouses. Applying for a credit loan is an individual act. The bank will only check the credit report of the borrower and will not check the credit report of the spouse. Only when applying for family-based loans such as car loans and housing loans, banks or financial institutions will check the credit reports of both spouses. As long as either party has a bad credit report, it may affect the review results.

However, personal loans also need to be repaid on time, otherwise there will be overdue records on the credit report, and subsequent applications for credit loans will be affected. For a unilateral loan between a couple, do both parties need a credit report?

Yes. When applying for a loan, the loan records of both parties will be checked, and the credit reports of both parties will naturally be checked.

The property acquired during the marriage relationship belongs to both spouses jointly, so the debts incurred during this period are also borne jointly by both spouses. During the duration of the marriage, if either spouse applies for a loan, the bank will consider the credit history of both spouses.

Extended information:

Credit reporting includes two aspects: personal credit and corporate credit. Of course, there is also government credit reporting, but it can be ignored.

Enterprise credit reporting refers to the analysis and study of the credit records, operating levels, financial status, external environment and other factors of market participants such as enterprises, bond issuers, financial institutions and so on. , a comprehensive evaluation of its credit ability (mainly its solvency and its degree of repayment). Corporate credit reporting is a comprehensive analysis and measurement of contract performance capabilities and credibility. It is an indispensable intermediary service in the market economy system.

Personal credit reporting refers to the activities in which personal credit reporting agencies established in accordance with the law collect and process personal credit information and provide personal credit information inquiry and evaluation services according to user requirements. A personal credit report is a personal credit history record that the credit reporting agency collects in accordance with the law, processes and organizes it in accordance with the law, and finally provides it to legal information inquirers in accordance with the law.

Currently it is mainly used for various consumer credit businesses of banks. As the social credit system continues to improve, credit reports will be more widely used in various commercial credit sales, credit transactions, recruitment and job hunting. In addition, personal credit reports also provide the inquirer with a way to review and standardize his or her credit history behavior, and form a verification mechanism for personal credit information.

The main factors that may affect personal credit risk scores are: there have been overdue repayments on loans, or credit card overdrafts have not been repaid within the agreed time limit and repayment amount, or there are too many loan accounts and credit cards, etc. When a credit reporting agency or information provider receives an objection, it shall mark the relevant information as objectionable in accordance with the regulations of the credit reporting industry supervision and administration department of the State Council, verify and handle it within 20 days from the date of receipt of the objection, and provide a written reply with the result. Dissenter.

After verification, if it is confirmed that the relevant information contains errors or omissions, the information provider and the credit reporting agency shall make corrections; if it is confirmed that there are no errors or omissions, the objection mark shall be cancelled; if it cannot be confirmed after verification, , the verification status and objection content should be recorded. Will the loan check the spouse's credit report?

Generally, when applying for a house loan, the credit report records of both spouses will be checked. At the same time, both spouses should be present at the same time to sign a credit inquiry authorization letter. If the bank checks the credit report record and finds If one party does not meet the requirements, it will affect the loan application.

The mortgage loan will check the spouse’s credit report. If the spouse’s credit report has a bad credit record, it will affect the review of the mortgage loan, and in serious cases, the mortgage loan may be rejected.

The review of home loans is relatively strict. The bank will check the loan records of the borrower's family within 5 years and the credit card records within 2 years. Even if the loan is purchased in the name of one spouse, the spouse has an overdue bad credit record. It will also affect your mortgage application. It is best not to be overdue more than "three in a row and six in a row".

In addition, different banks have different mortgage policies. Some banks will be relatively lenient in reviewing loan conditions. Customers with poor credit reports are best to apply for mortgages from banks with lax policies.