According to the Regulations on the Administration of Credit Information Industry, the retention period of bad information records is 5 years. If it has been more than 5 years since the termination of the bad behavior or event, the credit reporting agency shall delete it.
However, some lending institutions only check the borrower's credit history in the past two years before lending. Therefore, as long as the debt is paid off from the day when the bad credit is generated, the borrower will be reborn and get the loan opportunity two years later.
However, please note that the 5-year retention period begins after repayment. Don't think that bad records will disappear automatically after 5 years, so you don't need to pay back the money you owe. Don't think that canceling the card after repayment can eliminate bad records. At present, the public can check their credit reports for free twice a year through the branches of the central bank at all levels and the personal credit service network platform of the credit center.