How long does it take for a credit report to be submitted after the due date?
A credit report will be submitted for about 1-3 days after the due date. Currently, various banks have varying degrees of grace periods for credit card repayments. As long as the repayments are made within the grace period, overdue records will not be reported to the central bank, and overdue records will not occur.
Article 37 of the "Regulations on the Administration of the Credit Reporting Industry"
If a credit reporting agency operating personal credit reporting business violates the provisions of Article 9 of these Regulations, the credit reporting industry shall be supervised by the State Council The management department orders corrections within a time limit and imposes a fine of not less than 20,000 yuan but not more than 200,000 yuan on the unit; the directly responsible person in charge and other directly responsible personnel are given a warning and fined not more than 10,000 yuan.
If a credit reporting agency that engages in corporate credit reporting business fails to register in accordance with the provisions of Article 10 of these Regulations, the agency dispatched by the credit reporting industry supervision and administration department of the State Council where it is located shall order it to make corrections within a time limit; if it fails to make corrections within the time limit, it shall Penalty shall be imposed in accordance with the provisions of the preceding paragraph.
Article 39 of the "Regulations on the Administration of the Credit Reporting Industry"
If a credit reporting agency violates the provisions of these Regulations and fails to report its credit reporting business in the previous year in accordance with the regulations, it shall be punished by The credit reporting industry supervision and administration department of the State Council or its dispatched agency shall order corrections within a time limit; if corrections are not made within the time limit, the unit shall be fined not less than 20,000 yuan but not more than 100,000 yuan; the directly responsible person in charge and other directly responsible persons shall be given a warning and fined 1 A fine of less than 10,000 yuan. How long will it take for your credit report to be overdue?
It also depends on whether your loan has a grace period. If so, it is usually 3 days, and the time does not exceed 3 days. As long as you pay back the money immediately, it will not Will affect credit reporting.
If there is no grace period, overdue credit reporting will not necessarily be affected. It depends on whether your lending institution is connected to the central bank’s credit reporting system. If it is not connected to the central bank’s credit reporting system, it will not be listed on the credit reporting system. . If the credit report is connected, the credit report will be uploaded. If you are overdue for more than 3 days, the bank will collect the loan. Depending on the specific loan situation, legal means may not be ruled out in serious cases. At the same time, being overdue will also affect your personal credit. The overdue status of the loan will be uploaded to the central bank's credit reporting system simultaneously, which will also affect future credit life such as loans.
You only need to pass: Quick Card Test. Find this small program to check your personal credit score. The data comes from online loan platforms and UnionPay across the country. Users can check their own big data and credit status, obtain various indicator data, and check their personal credit. situation, blacklist status, online loan application records, application platform types, online loan credit limit estimates and other important data information, etc.
In short, don’t overdue easily. Otherwise, if your credit report is overdue and there is a credit stain, it will take five years to “cleanse” the debt after paying off the debt. And if you never repay, The stain on your credit will follow you for a lifetime. It is recommended to repay the debt as soon as possible. If the debt is short-lived, you can issue a non-malicious debt statement to the bank.
Legal Basis
Article 4 of the "Regulations on the Administration of the Credit Reporting Industry"
The People's Bank of China (hereinafter referred to as the Credit Reporting Industry Supervision and Administration Department of the State Council) and its dispatched The agency supervises and manages the credit reporting industry in accordance with the law. Local people's governments at or above the county level and relevant departments of the State Council should promote the construction of social credit systems in their respective regions and industries, cultivate the credit reporting market, and promote the development of the credit reporting industry. How long does it usually take for an overdue application to be reported to the credit reporting system?
Generally, the credit reporting system will be reported within one to three days of being overdue. Because if there is a grace period, being late within the grace period is not considered overdue; but if the bank that borrows the loan has strict regulations, being late by one day is considered overdue. For lending institutions with a repayment grace period, as long as the loan repayment time they apply for does not exceed the repayment grace period, it will not be considered overdue and will not be listed in the credit reporting system for the time being.
Legal Basis
Article 577 of the Civil Code
If a party fails to perform its contractual obligations or performs its contractual obligations inconsistently with the agreement, it shall bear the liability Continue to perform, take remedial measures or compensate for losses and other breach of contract obligations.
Article 578
If one party expressly states or shows by its own behavior that it will not perform its contractual obligations, the other party may request it to bear liability for breach of contract before the expiration of the performance period.
Article 4 of the "Regulations on the Administration of the Credit Reporting Industry"
The People's Bank of China (hereinafter referred to as the Credit Reporting Industry Supervision and Administration Department of the State Council) and its dispatched agencies shall supervise and manage the credit reporting industry in accordance with the law. . Local people's governments at or above the county level and relevant departments of the State Council should promote the construction of social credit systems in their respective regions and industries, cultivate the credit reporting market, and promote the development of the credit reporting industry. How many days overdue will the personal credit report
The new version of the "China Bank Card Industry Self-Discipline Convention" promulgated by the Bank Card Professional Committee of the China Banking Association requires card-issuing banks to clarify the interest calculation rules to cardholders and provide repayment Provide "time tolerance" service and add repayment reminders.
1. Time overdue, that is to say, on the day when the repayment is due, if the cardholder fails to repay in time, there is a grace period, and the money must be repaid within the grace period. There will be no penalty interest and it will not be uploaded to the credit reporting system. But if you still haven’t paid back the money after the grace period, it will most likely be uploaded to the personal credit system.
Of course, the grace period of each bank is different. The normal grace period is 1-3 days (this is a natural day, not a working day). The repayment grace period provided by banks such as China Merchants, China Everbright, Ping An, CITIC, Shanghai Pudong Development Bank, Industrial Bank, Hua Xia and other banks is 3 days. The grace period of Agricultural Bank of China, China Construction Bank and Bank of Beijing is 2 days. Bank of China has a grace period of 3 days depending on the card type. It ranges from 3 days to 9 days, 3 days for ordinary card and gold card customers, and 9 days for platinum card customers. However, ICBC, the largest bank in the world, has no grace period and will file a credit report as long as the payment is one day late.
We can see from the grace period of each bank above that the grace period is actually decided by the bank. If you are a high-quality customer of the bank, such as having a large deposit in the bank, even if it is overdue for more than 3 days , you can still call the bank mm to request leniency, but you must notify the bank in advance, and you must tell it before the bank reports your personal credit report to the central bank system (banks report credit information once a month).
2. Tolerance overdue. The so-called tolerance means that if the cardholder has insufficient repayment in the current period and the unpaid portion of the account after the due repayment date is less than or equal to a certain amount, it shall be regarded as overdue. If you repay the balance in full with the cardholder, the outstanding amount will be automatically transferred to the next bill.
The tolerance amount is generally within 10 yuan, but different banks have different tolerance policies. For example, the standard for credit card debt of most banks such as China Merchants Bank, Communications, Huaxia, Pudong Development, and Industrial Bank is not to exceed 10 yuan or the equivalent of 1 US dollar in foreign currency, CITIC and Ping An are 10 yuan and less; Agricultural Bank of China stipulates that it shall not exceed 10 yuan of the current bill amount, and the ordinary card shall not exceed 100 yuan, and the gold card and platinum card shall not exceed 200 yuan; the Bank of China standard is It shall not exceed RMB 1 or RMB 10 of the current balance owed; China Everbright Bank stipulates that credit card debt shall not exceed RMB 100 or the equivalent of US$20 in foreign currency; Bank of Shanghai shall not exceed RMB 30 or its equivalent in foreign currency.
Although many banks now provide time tolerance services, which will not cause overdue repayment by a few days, it is best to repay in advance, because there is a certain delay in bank transfer, especially through If you repay money through a third-party payment platform, the repayment amount does not arrive in real time, and it is easy to become overdue.
3. The late payment fee has been cancelled. Can I pay it back later?
The cancellation of the late payment fee does not mean that there will be no penalty for overdue credit cards, but the late payment fee has been changed to a liquidated penalty. As for the liquidated penalty, How to charge and how much to charge are all stipulated in the agreement between the bank and the person who applies for the card. Most banks charge default fees based on 5% of the unpaid portion of the minimum repayment amount, which is generally consistent with the previous late payment fee standards.
Although the adjusted liquidated damages charging standards are generally consistent with the previous late payment fee charging standards, many banks have set minimum and maximum fee limits, and the limit regulations are different for each bank. Liquidated damages and late payment fees are also calculated in different ways.
When late payment fees were implemented in the past, cardholders had to bear high overdue fees once they were overdue, and the billing method was usually compound interest on a monthly basis. Even if the credit card was paid off a few days late, the interest would snowball. It keeps getting bigger and bigger, and the debt is getting bigger and bigger. After the liquidated damages provisions are implemented, the fees incurred such as liquidated damages will be collected in one go and no interest will be calculated.
However, the criteria for judging overdue credit records on credit cards have not changed, so credit cards still have to be repaid on time.
If the repayment period is reached, but you don’t have that much cash to pay off at once, don’t panic. You can try the following methods:
4. Apply for installments
Instalment payment requires bank handling fees. The handling fees vary depending on the installment time. The handling rates of different banks vary greatly. Most banks' installment payment fees are determined based on the length of the period, such as 3 installments, 6 installments, 12 installments, etc. Generally, the longer the term, the higher the handling fee standard.
5. Minimum repayment
The minimum repayment will not affect the cardholder's credit record, nor will the cardholder be charged late payment fees, but the full amount of funds consumed by the card will not be charged. From the date of swiping the card, a penalty interest of 0.05% per day will be charged, and the interest will be compounded until the day before repayment.
It can be seen that installment repayment is more cost-effective than the minimum payment. The more credit card debt you owe, the more cost-effective it is to use installment repayment.
To sum up, there is a buffer time for loan repayment. Of course, the buffer time is not very long. It is usually within three days. It must be repaid within three days. If it is not repaid, the loan will be repaid. It may be reported to the credit reporting system, which will cause obstacles to other loans in the future and may make it impossible to continue lending. The consequences are very serious.