What does bad credit mean? What is a bad credit record

Bad credit refers to the user's bad credit record in the personal credit reporting system of the People's Bank of China. Bad credit records refer to records of defaults (overdue records), records of tax arrears, records of courts, and administrative penalties. Individual users can go to the People's Bank of China or People's Bank of China branches to print personal credit reports and view them.

The personal credit report records basic information, credit information, non-financial liability information, public information, and inquiry information. Bad credit history appears in credit information and public information, and users can carefully review personal credit reports.

If the user does not know how to view the personal credit report, they can see the relevant explanation on the last page or back of the personal credit report, and the personal credit report can be understood with the help of the relevant explanation. If there is a bad credit record in the personal credit report, the individual user needs to solve the problem in a targeted manner.

Extended information: 1. What is bad credit?

A credit stain, also known as a bad credit record. It belongs to the limitation period of personal credit history, and after bank customers apply for loans, due to some reasons, the repayment record is overdue, that is, credit stain. Different banks have different standards for approving personal credit records, and with the change of time, consumers' economic conditions and repayment conditions will also change, and banks will not pay attention to consumers' early bad credit records invariably.

2. What should I do if the credit investigation is overdue?

China's credit record shows the monthly repayment information of the nearest 24 months from the query date, and the bad records within 24 months can be seen from which year and month are overdue, and the records before 24 months will no longer be reflected on a monthly basis, but will be retained for 5 years and will no longer be displayed. If you have a bad credit card record, do not cancel the card, and if the card is terminated, the corresponding record will no longer be rolled, but will be saved for a long time. Therefore, after the overdue repayment of the credit card, do not cancel the credit card immediately after paying off the arrears, but insist on using the card for more than two years, and maintain good credit during the period, so that the bad record can be removed from the credit reporting system by rolling records.

III. Classification of credit reporting.

1. According to the business model, it can be divided into two categories: enterprise credit and personal credit.

Enterprise credit reporting is mainly an institution that collects enterprise credit information and production enterprise credit products; Personal credit reporting is mainly an institution that collects personal credit information and produces personal credit products. In some countries, these two types of business are completed by one institution, while in some countries two or more institutions are completed separately, or in a country there are both institutions engaged in individual credit reporting alone, as well as institutions engaged in two types of credit reporting business, individuals and enterprises, and there are generally no restrictions, and the credit reporting agencies make their own decisions based on the actual situation.

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 professional credit institutions to share credit information.

Credit information records an individual's past credit behaviors, which will affect an individual's future economic activities, and these behaviors are reflected in the personal credit report, which is often referred to as "credit history".

Until 2012, there was not a single law or regulation in China's current legal system that provided a direct basis for credit reporting activities. In October 2009, the Legislative Affairs Office published the full text of the Regulations on the Administration of Credit Reporting (Draft for Solicitation of Comments) to solicit opinions from all sectors of society on the Regulations on the Administration of Credit Reporting.

The emergence of credit reporting activities stems from the emergence and development of credit transactions. Credit is a special form of value movement conditional on repayment, including forms such as money lending and commodity credit sales, such as bank credit, commercial credit, etc.

Overdue records and bad credit are not the same thing.

Overdue records refer to the records generated after the credit business is overdue, and bad credit records are the general term for various bad records such as overdue records, stop payment records, and bad debt records.

We can refer to overdue records as bad credit records, but bad credit records are not necessarily overdue records, and bad credit records are a general term for a variety of records.

The bad credit record in the credit report can be deleted, but basically the user is required to solve the corresponding problem first.

For example, if you have a bad credit history due to overdue, you must return the overdue debt.

If there is a stop payment record in the credit report, you must contact the bank to cancel the status of the bank card stop payment, so that the stop payment record will be deleted from the credit report.

As long as it is a bad credit record, it will lead to poor credit reporting of users.

If the user does not have any bad credit record in the credit report, then the user belongs to the user with good credit, and the probability of passing the loan review will increase when the user with good credit applies for credit.

If the online loan itself is non-compliant, then the overdue online loan will not have much impact on the personal credit status. However, your online loan records will be retained in the online loan big data. You can check your online loan history through "Songguo Check", including details of overdue online loans, debt arrears, information on dishonesty, and whether you have been blacklisted for online loans.

Extended Information: Will I get my personal credit report after applying for deferred repayment for an online business loan?

Online business loan is a loan product on credit information, and users will repay on time, overdue or even deferred repayment, and the repayment record will be uploaded to the credit information.

Among them, overdue records will affect personal credit, and normal repayment information is conducive to maintaining personal credit.

Deferred repayment will not be considered overdue by the user, so there will be no overdue record.

Of course, the user only applies for a deferment of repayment after the deadline, so that the overdue record has been uploaded to the credit report, and even the deferment of repayment cannot remedy the negative impact of the overdue.

Bad credit records refer to the individual's credit report in the credit system has a bad credit record, usually bad records include overdue loans, overdue credit cards, court and administrative punishment records, etc., in the personal credit report when the user will be rejected by the bank for a loan, and after the bad credit report to be corrected in a timely manner, because it will be kept for 5 years after the correction, and it will automatically disappear after 5 years.

Bad credit records are divided into the following three situations:

1.No credit record. Although we say that there are many overdue records on the credit report, which is a devastating blow to credit, but if the loan applicant has not handled a loan from a bank or other lending institution before, and it is a pure white household, it is actually difficult to get a loan, after all, there is no reference material for bank approval, and it is easy to reject you when you encounter a bank with strict risk control, in this case, the lending institution will either refuse to lend, or only approve a smaller amount of loan.

2. Three times in a row. "Repeating six in a row" is a jargon in the lending industry, which refers to the credit history of a loan applicant who has been overdue for three consecutive months or six times in total. Once there is such a situation on the credit report, it is a serious breach of contract, which exposes that the loan applicant may be lacking in repayment ability, or have poor credit awareness, which is equivalent to bad credit.

3. Query records. If a number of lending institutions have made inquiries in the same period of time, and have not succeeded in making payments, it means that the borrower's qualifications and credit have problems, of course, the credit report is frequently queried and affects the loan application, which is only established in the case of frequent inquiries by the lending institutions, and if it is their own frequent inquiry of their own credit report, there is no problem.

1. Overdue records. There are two main parts of overdue records, one is the overdue record of bank loans or credit cards, and the other is the overdue record of online loans. Therefore, whether you apply for a bank loan or an online loan, you must repay the loan on time, and you must not be overdue, otherwise it is easy to affect the future loan application, although not all online loan overdue records will be recorded on the personal credit report, but it will also be recorded on other third-party credit bureaus, such as Sesame Credit and Tencent Credit Score, which will also affect your loan application.

Second, there are too many inquiries by lending institutions. There are two kinds of inquiry records of personal credit report, one is the self-inspection record, and the other is the inquiry record of the lending institution, the self-inspection record does not have any negative impact, but if your personal credit report is frequently queried by the lending institution, this is also a bad record, which is likely to affect the future loan application.

3. Failure to pay water, electricity, gas and other living expenses on time In addition to the loan record, some living expenses payment records will also be recorded on the credit report.

4. Penalty Records Penalty records are also bad records, including tax evasion, administrative detention, civil judgment records, etc. If these are documented, then applying for a loan can easily be rejected.

There are many situations that can cause bad credit, mainly in loans, credit cards, leases and other projects that are not performed in accordance with the agreement and cause negative impacts.

1. The credit card is overdue.

Most of the credit cards have bad credit records because they are overdue, and some credit card holders have bad credit because of such a small amount of money. In addition to not repaying on time, there are several situations that can also cause bad credit on credit cards: the first is that even if you don't activate your credit card, you will incur an annual fee, if you don't repay your coffee on time, or if the bank interest rate adjustment causes the repayment amount to change, and you don't repay in full, you will also have bad credit.

The second is that the supplementary cardholder fails to repay the loan in time, and also has to bear the credit problem.

2. Student loans are overdue.

Of course, there are also a small number of people who have bad credit because of overdue employment loans. One situation is that students do not have the awareness of maintaining credit reporting, and the other is that there is high employment pressure and has not been employed.

3. Guarantee for others.

Some people are embarrassed and ask others to guarantee, if the borrower does not repay the loan in time, the guarantor's credit will also be implicated. Therefore, if there is no trust in the borrower, do not guarantee for others in the face of the borrower.

1. The credit card has been overdue for three consecutive times (or six times in two years).

2. Housing loans and car loans are overdue or not repaid for 2-3 months.

3. The interest rate of overdue loans is raised, and the original amount is still repaid, resulting in interest arrears.

4. Credit card overdraft consumption and mortgage loan are not repaid on time.

5. Cash out of personal credit card.

6. The annual credit card fee is overdue.

7. Provide guarantee for a third party, and the third party fails to repay the loan on time.

Credit is our own "economic identity card", which is a record of debt repayment, contract performance, and law-abiding information. The ** of general credit information is the lending institution, such as the bank. Public utilities, ** departments, etc.

Nowadays, there are many users who apply for online loans, and online loans are convenient and fast, which has helped you solve a lot of problems. At present, formal online loans, such as borrowing, money to spend, and micro loans, are all connected to the central bank's credit information, and everyone must pay attention to repayment on time.