The credit report is not submitted every time, but is summarized monthly. Nor will a single transaction be submitted to the credit report system, nor will specific consumption records such as consumption content and consumption time be reported. For credit purchases, a credit report will be submitted when the credit limit is obtained, when the credit limit is used, and when repayment is overdue. The credit reporting rules for credit purchases when obtaining a credit limit are the same as those of other credit platforms. As long as the user does not make late repayments, there will be no adverse impact on the credit reporting.

What is the difference between credit purchases and credit cards?

Credit purchase is a consumer loan service provided by a financial institution, and a credit card is issued by a bank or credit card institution. The two have different definitions, different amounts, and different impacts on credit reporting.

Credit purchase refers to using a credit relationship to purchase goods from a seller without paying cash, or only paying part of the cash. A credit card is a certificate of credit issued by a commercial bank or credit card company to an eligible consumer. It takes the form of a card with the issuing bank's name, validity period, card number, cardholder's name, etc. printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can go to specialized business service departments to shop or consume, and then the bank will settle the bill with the merchant and the cardholder. The cardholder can overdraw within the specified amount.

In daily use of credit cards, if the cardholder's credit card is overdue, the bank will upload the overdue record to the central bank's credit reporting system, which will have a greater impact on the cardholder's future loan approval, credit card processing, etc. Influence.

After the credit purchase is connected to the credit report, it has basically no impact on the credit report. As long as the user does not have any overdue information during the period of use and maintains good credit, the credit information will not only cause no harm but may also be beneficial.