The biggest influence is personal credit reporting. Take the car loan credit card as an example. Credit card repayment of financial institutions generally has a grace period of 1 to 3 days. The cardholder can repay within the grace period after the monthly repayment date, and the credit record may not be submitted to the credit information system.
After objectively matching and integrating the data submitted by lending institutions, the credit information system will update it into a personal credit report without making any evaluation. If there are bad records, the records shall be kept for 5 years from the date of paying off the debts, and deleted after 5 years. As for the frequency of updating personal credit data, it does not have much impact on individual users, because once the credit stain becomes a fact, it will only be 1 day or a month later.
For the bank's loan operation cycle, generally more than one month, you can safely see the credit record of the loan applicant and reduce the misjudgment of the risk.
Extended data:
After the loan expires, the bank will give the applicant a two-day grace period. Repayment within a few days after maturity is generally not regarded as overdue repayment and will not affect personal credit. After the specified time, the bank will handle the account and the head of the household. For example, banks will upload too many overdue records to the credit information system.
In order to prevent the borrower from being unable to repay the loan in time due to forgetfulness or rest days, the general bank will give a grace period after the loan expires. If the loan can be repaid after maturity, it will not be regarded as overdue repayment in general, nor will it affect personal credit. Lenders need to repay bank loans on time.
However, if it is overdue for two consecutive months, personal credit will eventually be recorded, which will affect personal credit and it will be difficult to eliminate the credit stain. Therefore, lenders must pay attention to their credit records.
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