What Is the Difference Between a Credit History and a Credit Score?

Credit scoring system refers to a statistical and evaluation system used to decide whether to approve a loan or a credit line based on the borrower's borrowing and repayment history, credit status and other information.

Credit scoring system

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Credit scoring system (credit scoring system ), which refers to different points based on the borrower's borrowing and debt repayment history, credit status and other information to determine whether to approve

At the press conference of the Virtual Economy and Data Science Center of the Chinese Academy of Sciences, Zhu Min, deputy governor of the People's Bank of China, said that after more than 3 years of hard work, personal

The personal universal credit scoring system is based on the data of the national unified personal credit information base database. It uses data mining and statistical analysis methods to comprehensively examine the individual's credit behavior characteristics and evaluate its repayment willingness and ability to obtain personal universal credit. Points.

According to Professor Shi Yong, executive deputy director of the Virtual Economy and Data Science Research Center of the Chinese Academy of Sciences, the scoring system's score ranges from 0 to 1,000. The higher the score, the lower the credit risk of the assessee; the lower the score , Indicating that the credit risk of the evaluator is higher. The system relies on the basic database of personal credit information of the People's Bank of China, which contains more than 650 million personal information, of which more than 100 million people have complete data information that can be used for credit analysis.

According to the Credit Center of the People's Bank of China, from the verification completed by commercial banks, the performance of personal universal credit scores is good, and it can be initially applied to all aspects of financial life, such as credit card life cycle management, car loan management, and housing loans. Management, personal loan management, and other consumer credit management areas provide a new tool for credit decision-making and post-loan management.