First of all, the retention period of bad credit records of bank loan defaults is 5 years

According to the Regulation on the Administration of Credit Information Industry, the retention period of bad personal information by credit reporting institutions is 5 years from the date of termination of bad behavior or events. All card-issuing banks are required to upload the customer's consumption and repayment records regularly, which cannot be tampered with. The bank does not make any bad comments, but only gives truthful feedback. Bad records will not be found by other banks after paying off the principal and interest and liquidated damages for more than 5 years.

Although it will be automatically eliminated in five years, many people will think that five years is too long, and the day lily is cold. In fact, when banks approve loans, they focus on the credit records in the past two years. Therefore, as long as you get into the habit of timely repayment, keep a good record, and don't create new bad records, and reapply for a loan two years later, the chances of success are still quite high.

Secondly, the retention period of overdue bad credit records of credit cards is 2 years

Credit card repayment information will be recorded by the central bank's credit information system for 24 months, and the corresponding records will be kept for a long time without rolling. Therefore, it is suggested that credit card users continue to use their cards for two years after paying off their debts. During this period, they can keep good credit and remove bad records from the credit information system by rolling records.

Here we need to distinguish between overdue and bad debts. Credit cards have overdue bad records. You need to continue to use the card after paying off the debts. Never cancel the card, so that the bad records can be covered with new good records. But if there are bad debts, cancel the credit card immediately after paying off the debts, otherwise the record of bad debts will always exist.

The handling of online loan credit records is very "humanized"

Compared with traditional banks, online loan credit records are much more humanized, and their implementation will not be as strict as that of the People's Bank of China. Lending institutions upload overdue records to banks, which will take a certain period and give borrowers more time to repay, provided that you have not caused a bad situation of malicious overdue.

that is to say, it will give a certain grace time for unintentional overdue due to a moment's negligence. However, we still need to pay attention to protecting our credit records.

if the loan is overdue, how to eliminate the bad record?

① take the initiative to find a lender to explain the reasons, and pay off the money and overdue fees to prevent overdue behavior from being uploaded;

② issuing a non-malicious overdue certificate and providing the borrower with written evidence of non-malicious default can eliminate the hostility of the bank and facilitate the next loan.

The above two methods are based on short-term default. If the overdue information has been uploaded to the People's Bank of China Credit Information System for too long, then pay off the debt and wait for the system to automatically eliminate it after 5 years.