According to the Regulations on the Administration of Credit Information Industry, the retention period of personal bad information by credit information agencies is 5 years from the date of termination of bad behavior or incident. All card-issuing banks are required to upload customers' consumption and repayment records on a regular basis and cannot tamper with them. The bank does not make any bad reviews, but only gives truthful feedback. Bad records will not be discovered by other banks after paying off the principal and interest and liquidated damages for more than 5 years.
Although it will be eliminated automatically in five years, many people will think that five years is too long and the day lily is cold. In fact, when approving loans, banks focus on the credit records of the past two years. Therefore, as long as you get into the habit of paying back on time, keep a good record, and don't create new bad records after paying off the debts, the chances of success are still quite high.
Secondly, the retention period of overdue bad credit records of credit cards is 2 years.
Credit card repayment information will be recorded by the central bank's credit information system for 24 months, terminated by the card, and the corresponding records will not scroll, but will be kept for a long time. Therefore, it is recommended that credit card users continue to use their cards for two years after paying off their debts. During this period, they can maintain good credit and delete bad records from the credit information system by rolling records.
Here we need to distinguish between overdue and bad debts. Credit cards have overdue bad records, so we need to continue to use them after paying off the debts. Never cancel the cards and cover the bad records with new good records. However, if there are bad debts, cancel the credit card immediately after paying off the debts, otherwise the bad debt record will always exist.
The handling of online loan credit records is very "humanized"
Compared with traditional banks, online loan credit information is much more humanized and its implementation will not be as strict as that of the People's Bank of China. It takes a certain period for the lending institution to upload the overdue records to the bank, giving the borrower more repayment time, provided that you have not caused the bad situation of malicious overdue.
In other words, there will be a certain grace period for unintentional overdue caused by temporary negligence. However, we still need to pay attention to protecting our credit records.
If loans overdue, how to eliminate bad records?
(1) Take the initiative to find a lender to explain the reasons, pay off the money and overdue fees, and prevent overdue behavior from being uploaded;
(2) Issuing a non-malicious overdue certificate and providing the borrower with written evidence of non-malicious breach of contract can eliminate the hostility of the bank and facilitate the next loan.
Both methods are based on short-term default. If the overdue information has been uploaded to the PBOC credit information system for too long, then pay off the debt and the system will automatically eliminate it after 5 years.