If the credit report is overdue for four times, it will definitely have an impact. In the future, whether it is a loan to buy a house or a car, or even a promotion to take an examination of civil servants will have an impact. The People's Bank of China stipulates that the card-issuing bank should upload the cardholder's repayment records regularly and cannot tamper with them. The bank will also evaluate the cardholder's usage records and truthfully feedback the cardholder's usage and repayment. The banking system will have a historical record, but banks will not have any subjective judgment.
If it doesn't matter at ordinary times, but applying for any loan business in the future will directly affect the mortgage, the bank will refer to the credit record comprehensively when you apply for a loan. This credit record is not for a certain stage, but for the whole process. If you can maintain good consumption and repayment, your credit will be increased, it will be easier to apply for a loan and the amount will be higher.
But don't worry too much. According to the relevant provisions of the Regulations on the Administration of Credit Information Industry, the retention period of personal bad credit records is 5 years from the date when all debts are paid off, and these bad records will be deleted after 5 years. When handling loan business in the future, relevant departments will also consider recent consumption and repayment records.
What is said here will only be kept for five years, not from the day you owe money, but from the day you pay off all your debts completely, and it will be deleted after five years. Therefore, once you use a credit card or other online loan products, you must pay off the arrears at the first time. If you can't repay in full, you must also pay the minimum repayment amount, so that there will be no overdue and no personal bad credit record.