What is an Adverse Credit History?

Introduction

Bad bank records

Right!

Introduction

Bad credit record When a citizen borrows money from a bank, the bank repays the relevant information to the People's Bank of China when the loan is overdue or fails to pay as agreed, and the People's Bank of China writes the above behavior into the citizen's personal credit record. Records are called bad credit records.

If one of the following situations exists, it will be recorded in the bank's bad record: ^[1]

1. The customer's current status in the bank's personal credit information system or in bank and interbank accounts (including housing loans, car consumer loans, personal consumer loans, credit cards, etc.) is overdue, or a bad record that is overdue for more than 90 days (ie overdue) The status flag is "4").

2. Learned that the customer had one of the following situations through other credit reporting channels: ^[1]

(1) It was included in the bad customer information database of banks, banks, or credit agencies due to illegal use of cards; ^[1]

(2) There are major lawsuits or arbitrations and other legal disputes as defendants; ^[1]

(3) Malicious deception of bank funds; ^[1]

(4) Have a criminal record while serving a sentence or within the past 7 years. ^[1]

3. Other bad credit behaviors identified by the card issuer. ^[1]

4. Customers have had bad records that are overdue for more than 60 days in the bank credit system within 12 months (that is, the overdue status flag is "3"). ^[1]

If you can guarantee the minimum repayment amount, you only need to add interest on the loan. Then it will not be overdue, and there will be no bad records. Bad records are that you have not fulfilled your repayment obligations after malicious overdrafts. ^[1]