First, as we all know, microfinance is based on the borrower's comprehensive credit score to decide whether to grant credit, and what is the credit line. Moreover, in order to prevent risks and grasp the latest situation of borrowers, the micro-loan system will also evaluate the comprehensive credit situation of borrowers from time to time in order to make the best decision. For friends who suddenly can't borrow small loans, it is the latest comprehensive credit that fails to meet the lending standards of small loans. Therefore, the sudden failure to borrow money from microfinance is not a special case, but a common phenomenon.
Second, the main reasons for this situation are these:
1, the borrower's credit becomes worse. One of the prerequisites for the continuous use of micro-credit loans is good credit. After all, it is a bank's own loan product, so it is natural to check the credit information when applying. If the borrower's recent credit report is found to have bad records such as overdue, bad debts and payment suspension. In the process of loan review, the system will naturally not easily agree to approve the loan without ensuring that the borrower can repay the loan on time.
2. The borrower's liabilities increase. In order to handle small loans, borrowers need to have certain repayment ability. In addition to relying on the income filled in, they will also infer the borrower's debt according to the loan and credit card arrears on the credit report, thus judging its repayment ability. If the borrower's debt ratio exceeds 50%, the system will refuse to approve the goods on the grounds of insufficient repayment ability.
3. Wechat payment points are reduced.
Third, whether the micro-credit line can continue to be used depends on the previous loan and repayment records. If the user has a bad record such as overdue in the process of using the loan before, not only will personal credit be affected, but the user's WeChat payment score will also be reduced, resulting in the rejection of the micro-loan application. Although the loan can't be used for a short time, with the borrower's comprehensive credit score returning to normal, the micro-loan can still be reopened. Everyone usually tries to use WeChat to pay, which can show their spending power and improve the success rate of reopening.