First of all, although you have a lot of online loans, you have not been overdue. If you do not apply for a mortgage, credit card, bank loan, etc. in the short term, it will not have much impact for the time being.

Online loans are very popular now. Online loans are simple, convenient and fast. Some online loan platforms only require an ID card and a mobile phone verification, and you can get a credit line of several thousand yuan in a few minutes. . Precisely because online loans are simple and convenient, many friends borrow online loans without restraint, which results in spending money on their credit score.

Currently, many online loans will be displayed in the credit reporting system, some will be displayed in the central bank’s credit reporting system, and some will be displayed in third-party credit reporting agencies, such as Sesame Credit and Tencent Credit. , Pengyuan Credit and other third-party credit institutions. And now there is a new Baihang Credit Reference. At present, basically most formal online loan platforms are connected to the Baihang Credit Reference, which means that every time you borrow an online loan, you may be included in the Baihang Credit Reference. In the credit report, compared with the central bank's version of the personal credit report, the information recorded in Baihang's credit report will be more comprehensive, so its impact on everyone cannot be underestimated.

What should you do if your credit score is ruined because you borrowed too many online loans?

First of all, I can tell you for sure that if your online loan is recorded by the central bank’s credit report, it will definitely not be changed in the short term. According to the relevant requirements of the central bank’s credit report, personal credit information is retained for 5 years. years, and the 5-year retention period starts from the day you pay off all outstanding debts.

That is to say, if your online loan is shown in the credit report, it will be retained for 5 years, and you cannot erase it within these 5 years. There is currently no way to remove these credit records in the short term, unless your credit record is caused by special circumstances, such as your personal information being stolen and used to apply for online loans.

So here I suggest you not to easily believe others who say they can help you revise your credit report by spending money. That is all a lie.

The only thing that can improve your credit score is time.

If your credit report is ruined by too many online loans, then the first thing you have to do is to stop all kinds of online loans. If necessary, first pay off all the online loans you still owe. Pay it off.

Secondly, don’t apply for various online loans or credit cards easily, because some online loans will check your credit report once you apply, and it doesn’t matter whether you can get the loan or not. , the inquiry record will be displayed on your credit report.

Thirdly, if you are unable to repay all the online loans at once, it is recommended that you do not repay the online loans by borrowing new ones and paying back the old ones. Your question says that you have applied for a lot of online loans and your credit score has deteriorated. I guess you may have borrowed new online loans to repay your old website. If you do this for a long time, your debt will get bigger and bigger. The letter will become more and more beautiful.

Here I will give you a suggestion. If you are temporarily unable to pay off all the online loan debts, you can try to pay off the online loans through credit card tx and then pay off the online loans in installments. Normally Credit card debt is normal, and it is much better to owe money to a credit card than to owe an online loan.

Because you are not overdue, your credit report is relatively easy to repair.

In the era of Internet finance, although loans are very convenient, you must consume rationally, borrow rationally, and borrow rationally. Pay attention to repaying your debt on time and maintaining a good credit record. If you are worried about your online loan data, you can search on the homepage of WeChat: Mimi Data. Self-check online loan data reports. This data platform is connected to more than 2,000 online loan databases, and the data query is relatively accurate. Whether it is online loan application records, online loan data reports, online black index scores, hit risk warnings, overdue information, prosecution or arbitration cases and other data, it can be displayed one by one.

The biggest problem with your credit report is that there are too many online loans and too many inquiries. At present, when credit agencies review loans or credit cards, they mainly look at whether you currently have relevant online loans that have not been repaid, as well as your credit inquiry records and loan application records in the past year.

Normally, if you do not have many online loan application records in the past year or currently have unpaid online loans, then whether you are applying for a bank loan, a mortgage or a credit card, it is It can pass normally.

If you follow the three points I mentioned above, usually your credit record will basically return to normal in about a year.