If you have problems with your credit report, you cannot apply for a loan from the bank. When you apply for a loan from a bank to buy a house, the bank will review whether the borrower has the qualifications and ability to lend, and the credit issue is precisely the most stringent part of the review process. As long as the banking system has a record of your personal bad credit, the bank can refuse your application for a loan to buy a house based on this reason.

What are the situations where the credit report is not good?

1. There is overdue credit but it is not serious.

If the overdue amount is 1, it means it is within 30 days. In this case, just return it in time. The impact is not particularly large. Your credit score can be improved, and you can improve it slowly over time.

2. Some are overdue and some are serious.

This situation may be overdue for several months, but there is a situation that may not be caused by you. For example, if you buy a car or take out a mortgage, but it is overdue due to failure in time, that is a problem with the guarantee company. In fact, this situation can be explained by asking the guarantee company to prove that the overdue payment was not caused by you, and then repay the loan in full in a timely manner. You can still slowly improve your credit later, and a small loan company that is more flexible will not mind.

3. Consistently overdue, resulting in a credit blacklist.

You should pay attention to this situation. The credit blacklist will have some impact on your life for at least 5 years. You cannot get a loan to buy a house or a car. In severe cases, it may affect your ability to buy air tickets, high-speed rail tickets, and stay in five-star hotels. We are now in the Internet age, and many things are based on big data. In such an era, you should pay attention to your own credit information. So as not to cause inconvenience to your life.

What are the consequences of poor personal credit reporting?

1. my country will increase loan interest rates and property insurance premiums for seriously dishonest entities, or restrict the provision of loans, sponsorships, and underwriting to them , insurance and other services. This is mainly reflected in the strict review of licensing and approval projects, strict control of the issuance of production licenses, and restrictions on the approval and approval of new projects.

2. my country implements market and industry bans on seriously untrustworthy enterprises, their legal representatives, principal persons in charge, and registered practitioners who are directly responsible for untrustworthy behavior.

3. For seriously untrustworthy entities who have the ability to perform but refuse to perform, impose restrictions on leaving the country and restricting the purchase of real estate, taking planes, taking high-class trains and seats, traveling and vacationing, staying in hotels with star ratings or above, and other high-end consumption Behavioral measures. This will seriously affect daily life.

How to repair credit reporting

According to Article 25 of Chapter 4 of the "Credit Reporting Industry Management Regulations", information subjects have the right to lodge complaints with information agencies regarding their overdue bad records. After the appeal is successful, it is expected that the bad records can be permanently deleted. According to this regulation, the rights given to every citizen by the state when objections to credit reporting are also established. This means that no matter who has objections to their bad credit record, they can file a complaint. However, the vast majority of people do not understand these relevant regulations, nor do they know the appeal procedures of banks and financial institutions, so it is difficult for them to successfully appeal, and the success rate is less than 3.