1. loan application: overdue records may affect the approval process of your future loan application. When the bank examines the loan application, it will evaluate the credit status of the applicant through the personal credit report. Overdue records may reduce your credit rating, thus increasing the difficulty of loan application.
2. Interest rate and conditions: Even if the loan has been paid off after the deadline, the lending institution may put forward more stringent requirements on interest rate and loan conditions when approving the loan. Due to the negative impact of overdue records on credit rating, you may enjoy higher loan interest rate or need to provide more guarantee measures.
3. Increase future risks: The negative impact of overdue records on personal credit is lasting, and it may affect your future financial activities. For example, overdue records may lead to difficulties in applying for renting a house, applying for a credit card, signing a mobile phone contract, and even affect your employment and career development.
Second, summary
After the credit card is overdue for more than 90 days, although the debt is paid off, the credit record will generally be cleared within 5 years. This overdue record will have a certain impact on loan applications, interest rates and conditions, and future financial activities.
Third, expand information.
In addition to overdue credit cards, other overdue situations (such as overdue mortgages and overdue car loans) will also have a negative impact on personal credit reporting. The time span of credit record and the influence degree of different loan types will be different. Therefore, it is very important to manage personal credit reasonably and repay overdue funds in time. It is suggested that after paying off overdue debts, make repayment records and actively improve personal credit status in order to better face future financial needs.