It is understood that after buyers apply for mortgages, banks will check the personal "credit records" of buyers and their spouses in the People's Bank of China system. Major banks have slightly different standards for "bad" personal credit records, but generally customers with bad credit records are divided into "concern" and "prohibition" according to different overdue times and times.
Under normal circumstances, for "concerned" customers, the mortgage bank will judge whether the customer has "non-malicious arrears" in the past through investigation and decide whether to give the customer a loan, ranging from reducing the loan amount or raising the loan interest rate to not handling it. For "forbidden area" customers, most mortgage banks will choose to refuse loans.
Once the bad credit record is recorded, it cannot be deleted within the validity period, but it will not be accompanied by life. Generally speaking, bad credit records are kept for 5 years from the date of termination of bad behaviors or events. At the expiration of 5 years, the credit information system will automatically eliminate bad records.
There are different standards for commercial banks to influence bad credit records. If loans overdue reaches a certain number of times, it will refuse the loan or raise the loan interest rate. But the specific standard depends on the degree of risk judgment of the bank.
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Maintenance of good credit information
Develop good credit habits every day. First of all, we must remember the repayment time of various credit cards and online loan products. You can take a notebook and write it down, or you can use the regular reminder software on your mobile phone or computer. At the same time, it is suggested to open the repayment reminder function such as credit card, and repay the money to the relevant account at least one day in advance to avoid the failure of deduction due to various special circumstances, which leads to overdue.
Secondly, whether you use these online loan products or credit cards, you need to "do what you can" and control the loan amount within your repayment ability. Otherwise, once overdue penalty interest is generated, it will also bring "stain" to personal credit.
Finally, if you accidentally forget to repay, the first thing to do is to repay directly, instead of transferring to the associated bank account. At the same time, call customer service quickly. If the overdue time is short and the amount is not particularly large, it may not be reported to the central bank's credit information center.
Once recorded in the credit information system, don't worry too much. This record is usually kept for five years. Therefore, after all the arrears are settled and good credit consumption habits are maintained in the next five years, personal bad credit records can also be repaired.
China Economic Net-Pay attention to personal credit when personal credit is "stained" or affects "borrowing money" consumption.