What impact will the credit report on the loan have on the future?

Simply the credit report on the loan record will have no impact, but if there are situations such as overdue loans that affect the credit report, it will have an impact on future credit reports. You will be rejected when applying for a loan or credit card. For example, when applying for a housing loan, it is stipulated that there must be no problem with the personal credit report.

Personal credit record is an objective record of personal credit information. If the credit record is too bad, you can get a loan from other financial institutions. Including: performance records resulting from credit relationships with financial institutions; performance records resulting from lending relationships with other institutions or individuals; performance records resulting from credit purchases with commercial institutions and public utilities; performance records arising from housing provident funds, social insurance and other institutions Performance records formed by economic relationships; records of unpaid taxes and fees due according to law; records of various commendations; and other criminal penalties, administrative penalties, administrative sanctions or civil compensation records that may affect personal credit status.

Extended information:

Article 5 of the "Personal Housing Loan Management Measures" The borrower must meet the following conditions at the same time:

1. Have a permanent urban residence or valid Residence status;

2. Have a stable career and income, good credit, and the ability to repay the principal and interest of the loan;

3. Have a contract or agreement to purchase a house;

4. If there is no housing subsidy, no less than 30% of the total price of the house purchased will be used as the down payment; if there is a housing subsidy, 30% of the personal share will be used as the down payment of the house purchase;

5. Have assets recognized by the lender as mortgage or pledge, or an entity or individual with sufficient repayment capacity as a guarantor;

6. Other conditions stipulated by the lender. What are the effects of overdue credit reporting?

1. What are the effects of overdue credit reporting?

If there are overdue records on credit reporting, it may cause the following adverse effects: (1) Personal Credit damage. (2) Impact on card application and loan application: It will cause banks, lending institutions and platforms to fail the review process, and thus be refused card or loan approval. (3) Impact on travel and normal life: Once entered into the blacklist, travel may be hindered, and there may be restrictions on flying, high-speed rail, trains, etc. (4) Prohibited consumption: High consumption is prohibited, you cannot stay in star-rated hotels, and you cannot spend in nightclubs, golf courses and other high-end places. (5) Children cannot attend private schools: If a parent is the one subject to execution for breach of trust, the children will not be able to attend high-fee private schools.

2. What to do if the personal credit report is overdue

The personal credit report is overdue. If it is more than 5 years old, the credit report agency will take the initiative to delete it. Because the credit reporting agency's retention period for personal bad information is 5 years, starting from the date when the bad behavior or incident ends. If it exceeds 5 years, it will be deleted.

3. How long does it take to delete overdue credit records?

Bad records in the Credit Information Center of the People's Bank of China are deleted after five years. They cannot be deleted manually and will not be overwritten. After paying back all overdue debts and carefully maintaining your credit, bad records will be automatically deleted after 5 years. According to the "Credit Reporting Industry Management Regulations", the credit reporting agency's retention period for personal bad information is 5 years from the date of termination of the bad behavior or event; if it exceeds 5 years, it shall be deleted. As long as you maintain good credit behavior within five years, these bad information will disappear after five years. For example, after the credit card expires and is fully paid off on August 1, then, starting from August 1, this record will be deleted after 5 years. What is the impact of credit reporting on loans?

In addition to bank loans, many online loans are now subject to credit reporting. In fact, the credit reporting on loans will have some impact. The specific impact is:

1. If If you apply for loans frequently, and the loans you apply for are all on the credit report, then your subsequent applications for bank loans or credit cards (debit cards) will be affected. The bank may think that your debt is too large and your repayment ability is insufficient;< /p>

2. If the loan is overdue after applying for a loan, and the overdue record is also uploaded to the credit report, it will affect your personal credit, and the approval rate for subsequent applications for home loans and car loans will also be lower;

3. If you have applied for a loan shortly before applying for a mortgage, it may affect the amount of the mortgage. It is best to pay off the loan first, then issue a loan settlement certificate, and then apply for a mortgage.