What happens if there is an overdue credit record?

If there is an overdue record on the credit report, it may cause the following adverse effects:

Impaired personal credit:

Personal credit is closely related to the credit situation, and if there is a bad record on the credit report, that person's credit will also be damaged.

Affect card application and loans:

Whether you go to a bank to apply for a credit card, a loan, or go to other formal and large lending institutions and platforms to apply for a loan, you generally need to check the applicant's credit information. If there is a recent overdue record in the applicant's credit report, it may lead to the failure of the bank, lending institution and platform to approve the card, and thus be rejected for approval of the card and loan. Even if you are successful in obtaining a credit card and a loan, the approved amount will usually be lower.

And not only the individual is affected, if it is a joint loan between husband and wife, the credit of the husband and wife will generally be checked. If one of them has a bad credit report, it will affect the smooth approval of the loan.

Affect travel and normal life:

If there are a lot of overdue records on the credit report, and the circumstances are very serious, it is likely to be blacklisted. Once on the blacklist, travel may be hindered, such as taking planes, high-speed rail, trains, etc., which may have a great impact on the normal life of individuals.

At this time, you have to find a way to stop the loss in time. Regarding the issue of personal credit, in fact, everyone's personal credit will affect the person's future credit life, which is why we have been emphasizing the important reason for protecting our personal credit. If your personal credit report has an overdue record, don't have other vicious records at this time.

You need to reduce your own mistakes. You need to get rid of your bad debts as soon as possible. You have to learn to protect your credit.

Modern society is a credit society, and everyone's personal credit will directly affect a person's economic activities, and I think you must pay attention to this issue.

If you have an overdue record, there is no other way to get rid of it, you can only wait for the credit record to be updated, and then your overdue record will be overwritten. Generally, credit cards are renewed once every 2 years, and loans are renewed once every 5 years. At present, most banks have the following criteria for mastering the overdue credit investigation

Repayment is not more than 6 times overdue.

You have to repay the money in a timely manner, and you must negotiate with the corresponding platform to repay all the money you owe. Then wait about 5 years for those records to disappear.