Does it matter if you frequently check your personal credit report?

Everyone will definitely take out a loan in real life, but if you want to take out a loan, you must ensure that your personal credit record does not contain bad information. Because the bank or the relevant institution will review the individual's credit record, if the relevant bank agency finds that the personal credit record has bad information, then the application of the party will not be approved to a large extent. In fact, often inquiring about personal credit reports will also have a certain impact on personal credit.

You can go to the relevant institutions or inquire about the personal credit report on the **, but the number of inquiries per month is limited, and it is not recommended that you often check the personal credit report, if the individual is always checking their own personal report, the bank will determine that there is a problem with your personal credit history. Therefore, individuals often check personal credit records, which will definitely have an impact on individuals, because the number of inquiries is too high, and the bank may think that the user's debt ratio is relatively high.

Don't just check your personal credit records.

Everyone will definitely check their personal credit records when they apply for credit cards, so if you are always checking the personal credit record bank, you will feel that this person is always handling relevant loans, so if you inquire too many times, it will lead to difficulties in handling relevant business in the future. And the number of inquiries will also be presented in the personal credit report, so do not casually check personal credit records, the People's Bank of China stipulates that individuals will have two free opportunities to check personal credit records, and if you make a third inquiry will be charged.

The bad records in the personal credit report will generally be kept for five years, and will automatically disappear after five years, if the party has not been dealt with during this time period, then these reports will always exist lightly, never disappear, and will always follow the party. In fact, of course, such a situation will have an impact on everyone.

Technically, individuals can frequently check their credit history. However, if you make too many hard inquiries in a short period of time, the bank will think that you are in urgent need of money and the potential risk of default is high, so they will put you on the list of undesirable customers.

Before the bank takes out a loan or approves a credit card, it will check the applicant's personal credit report, which is an indispensable step, and each inquiry record will be stored in the credit report and kept for two years. Including who checked it, when it was checked, and because of what.

Financial institutions will think that when a person wants to borrow money, they will check their credit. If you check too often, the bank will think that you urgently need a loan or credit card and can't get it, then your chances of getting a loan or credit card will be smaller.

But like a personal query, it is a soft query and has no negative effects. Friends who don't know their credit situation only need to pass: Sky Data.

You can check your personal credit score, just find this WeChat mini program. The data comes from the nationwide online loan platform and UnionPay, users can query their own big data and credit status, can obtain various index data, query their personal credit status, blacklist situation, online loan application records, application platform type, online loan credit line estimate and other important data information.

However, if you use a loan or credit card to repay on time, don't easily overdue, otherwise if you are overdue on the credit report and there is a credit stain, it will take five years to be able to "launder" after paying off the arrears, and if you don't repay all the time, the credit stain will follow you for a lifetime.

If the user inquires more times of credit information, it will have a certain impact, if it is only credit printing, then there will not be too many negative problems. In general, in daily life, users should not check personal credit too frequently, because each query of the user will be recorded in the credit information system of the central bank, and if the number of credit inquiries is too frequent, it is easy to make the credit spent. Even if an individual goes to check the credit record in person, leaving a frequent inquiry record, it will make the bank feel very suspicious.

Extended information: Credit reporting is an activity in which a professional and independent third-party institution establishes a credit file for individuals or enterprises, collects and objectively records their credit information in accordance with the law, and provides credit information services to the outside world in accordance with the law, which provides a platform for credit information sharing for professional credit institutions.

1.Inquire about records from time to time.

If the records are queried irregularly and are not overdue, it is actually helpful for users. Through the debt repayment situation, credit card repayment record, number of cards held in the credit report, etc., you can judge the user's credit qualification.

2.Apply for loans frequently.

If there is a recent record of frequent loan applications, then it is not good for the borrower. If each application is unsuccessful, it can only mean that the user's recent credit qualification is to be investigated. In addition, some banks may reject users who have recently made too many credit inquiries.

If there are too many credit inquiries in a short period of time, it means that the user is very short of money and the risk of repayment is relatively large.

3.Under normal circumstances, personal inquiries and post-loan management inquiries are generally not included in the number of inquiries, and the inquiries of banks and lending institutions are the key to affecting the number of credit inquiries.

4.In addition to the credit inquiry records, the bank will also look at the user's personal information, such as the social security payment unit and the amount of provident fund payment, to determine whether the user's income is true.

5.At present, the formal loans on the market are all connected to the central bank's credit information, such as borrowing, money to spend, micro loans, Jingdong gold bars, white bars, etc., so everyone must maintain their credit records after borrowing and repay on time.

Credit check does not affect credit, and credit is generally only related to the use of financial products such as credit cards and loans.

However, if there are too many credit inquiries, it may affect the borrower's loan application, because too many credit inquiries indicate that the borrower is likely to have applied for a loan multiple times or failed to apply for a loan many times, and the lending institution will judge that the borrower's qualifications are low.

Extended materials: Personal credit reporting refers to the activities of lawfully established personal credit reporting establishments collecting and processing personal credit information, and providing personal credit information inquiry and assessment services at the request of users. Personal credit reports are personal credit history records that credit reporting establishments have collected in accordance with law, processed and sorted out in accordance with law, and finally provided to lawful information inquirers in accordance with law.

As of 2015, the database included a total of 100 million natural persons, of which 100 million had credit histories.

In May 2019, the new version of personal credit information was officially launched, and the duration and granularity of credit information will be further improved.

On September 30, 2021, the "Measures for the Administration of Credit Reporting Business" was deliberated and adopted by the People's Bank of China at its 9th executive meeting in 2021 on September 17, 2021, and is hereby promulgated to take effect on January 1, 2022.

At present, it is mainly used for various consumer credit businesses of banks. With the continuous improvement of the social credit system, credit reports will be more widely used in various fields such as commercial credit sales, credit transactions, and recruitment and job search. In addition, the personal credit report also provides a way for the inquirer to examine and regulate his or her own credit history behavior, and forms a verification mechanism for personal credit information.

Credit information: 1. Basic personal information on which to identify individuals and reflect their families, occupations, and other circumstances;

2. Personal credit information formed by the credit relationship between an individual and a financial institution or a housing provident fund management center;

3. Personal credit purchase and payment information formed by the credit purchase relationship between individuals and commercial institutions and public utility service institutions;

4. Public record information related to personal credit formed by administrative organs, administrative affairs enforcement bodies, and judicial organs in the course of exercising their authority;

5. Other information related to personal credit.

Influencing factors. The main factors that may affect an individual's credit risk score are: there has been a late repayment in the loan, or the credit card overdraft has not been repaid within the agreed period and repayment amount, or there are too many loan accounts and credit cards, etc.

Regulations on the Management of Credit Reporting.

Article 25: Where information subjects feel that there are errors or omissions in the information collected, stored, or provided by credit reporting establishments, they have the right to raise objections to the credit reporting establishments or information providers and request corrections.

There will be no impact on personal credit checking, and everyone has 2 opportunities to check the credit report for free every year, and a fee of 25 yuan will be charged for the inquiry after two times. Although personal credit check will not have any impact, if the credit is frequently checked by other institutions in the short term, it will affect personal loans. Because the credit report includes credit card approval, guarantee qualification review, etc., which are debt records, if there are frequent inquiries in the short term, the lender will consider it as a shortage of funds, excessive debts, etc., and refuse to borrow.

Too many "hard queries" will have an impact on applying for a bank loan. The so-called "hard inquiry" refers to the inquiry records generated by the review of the customer's financing application, such as credit card approval, loan approval, etc. Some people in the industry suggest that you should not easily check the loan amount, and also try to minimize the application of credit card or Internet micro-loan.

Whether it is an individual's own inquiry or an authorized inquiry by others, the excessive number of credit inquiries indicates that the customer's potential debt pressure is greater and the customer's potential risk is higher.

If the credit report is repeatedly inquired by different banks for reasons such as loans and credit card approvals within a period of time, but the records in the credit report indicate that no new loans or credit cards have been applied for during this period, it may indicate that the information subject has applied for loans or credit cards from many banks but have not been successful, and such information may have an adverse impact on subsequent related applications. The credit report is only used as a reference for the bank to lend, and whether to lend depends on the bank's comprehensive consideration of the customer's situation.

Extended information: 1. Types of personal credit report inquiries:

1) Inquiry of lending institutions: Inquiry before lending: decide whether to issue loans; Post-loan inquiry: understand the risk and decide whether to adjust the amount;

2) Personal inquiry: Everyone has the right to know about their credit report, and if there is an overdue record, it is recommended to deal with it as soon as possible.

2. In general, don't check your credit report if you have nothing to do. Some friends are obviously in good condition, but when the bank sees the inquiry records on your credit report, 80% of the auditors will refuse to get your card. Therefore, if your friends fail to apply several times in a row, you should check a detailed credit report, then analyze it, pack yourself and then apply for a card.

The number of queries is not much, and there is no impact.

If there are too many credit inquiries, then it can reflect that the customer's potential debt pressure is greater and the customer's potential risk is higher. Secondly, for a period of time, the client authorizes other agencies to frequently inquire about personal credit reports.

However, the report does not show that the customer has obtained a loan or credit card, which proves that other institutions believe that the customer is in poor financial condition and choose not to approve it, so it is also a reminder for the subsequent inquiry agency that it is basically difficult to apply successfully.

At present, everyone has the opportunity to inquire for free twice a year, and you can choose once in the first half of the year and once in the second half of the year, so that you can find out the abnormalities, errors, and omissions in the report in time. If you apply for an online loan or credit card, it is recommended not to do more than 5 times a month, and more than this number is too frequent.

There is no impact. Personal inquiries are to maintain the public's right to know and improve personal awareness of cherishing credit, just like if you pay attention to credit after checking it yourself, you will come to Zhihu to ask questions and want to know why, so as to achieve the effect of attracting attention.

1.First of all, the reasons for the inquiry of personal credit report are divided into personal inquiry, credit card approval, loan approval, guarantee qualification review, objection inquiry, etc. It is important to know that my inquiry will not cause any adverse effects.

2.In addition, when people apply for credit cards, mortgages, car loans, etc., they will authorize banks to check their credit history, and if there are too many such inquiries, it will indeed have a negative impact. For example, if you apply for several credit cards from different banks and apply for two loans within two months, the bank or other financial institution will check your credit history when approving it, which means that you will have a lot of credit report inquiries in a short period of time.

3.If you are in good standing, have excellent conditions, and all or 90% of your applications are approved, then these inquiries will not have a negative impact on you. If you have a bad credit profile, poor personal conditions, and all or more of your applications are not approved, then these inquiries will have a negative impact on your credit.

4.Suppose that after a period of time, another bank checks your credit and finds that your credit history has been checked many times in the previous two months, but you have not successfully applied for a new credit card or loan, and you have been rejected by multiple banks to indicate that your financial situation is not good, the bank will focus on your situation. Therefore, in fact, the number of inquiries is not the key, the key is that the number of times that the bank and other institutions have not passed the review after the inquiry, will affect the loan credit card.