The retention period of negative records is calculated from the date when the loan is paid off and kept for a certain period. According to American practice, general negative information is retained for seven years, and bankrupt, particularly serious and obviously malicious negative information is retained for ten years. After the retention period expires, negative information will be deleted from the personal credit report. China will also stipulate the retention period of negative records as soon as possible.

The new version of the Regulations on Credit Management stipulates that the retention period of personal bad information collected by credit reporting agencies shall not exceed 5 years, counting from the date of termination of bad behavior or events. This means that the so-called five-year automatic elimination of bad credit records begins from the date of repayment, not from the date of arrears.

Due to the different rules of annual fee exemption for credit cards, for example, some credit cards require cardholders to swipe their cards six times a year to avoid the annual fee for the following year, while others require that the accumulated amount of credit cards is enough, and the annual fee can only be reduced or exempted after the accumulated points are reached. There are still many people holding multiple cards. If you are not clear, it is easy to forget the repayment, which will lead to overdue and affect your personal credit record.