Do you need to check your credit report when applying for a credit card?

When applying for a credit card, the bank will definitely check your credit report during the application process.

Because credit cards are generally issued by formal banks, and formal banks are definitely related to the central credit system, so when everyone applies for a credit card,

First of all, the bank will check the applicant's credit record during the application review process. If the credit record is good and the applicant has the corresponding repayment ability, the success rate of applying for a credit card will be relatively high.

Of course, if there are overdue and illegal operations in the credit record, but the circumstances are not very serious, and you submit a certificate that can prove your repayment ability during the process of applying for a credit card, then you can also apply for it. Credit card. If your credit record is very poor, then the possibility of applying for a credit card is very low.

Reasons for banks to check credit:

1. Understand basic personal information. You can check the credit score to find out the age, job, mobile phone number, marital status, etc. of the card applicant. These are one of the reference factors for card approval.

2. Understand personal debt situation. The credit report will record the loan and credit card information of the card applicant. The debt ratio of the card applicant can be calculated from the relevant limit, and then combined with his income to determine whether the cardholder has the ability to repay. Usually the debt ratio exceeds that of an individual With an income of 70, it is not surprising that the bank rejected the card. It is obviously due to insufficient repayment ability.

3. Understand personal integrity. In fact, it is based on historical repayment status to determine whether the applicant is an honest person. After all, credit card overdrafts must be repaid. No matter how high your income is and how strong your financial strength is, but you have had previous loans or credit card overdue records, the bank may think you are not willing to repay, and your card may be rejected. .

4. Understand personal financial stress. There is a column of inquiry records on the credit report, which will record in detail the credit inquiry records in the past two years, such as the inquiry institution and the reason for the inquiry. This is a basis for the bank to judge the financial stress of the card applicant. If in the past three months, multiple institutions have made credit inquiries for reasons such as loan approval and credit card approval, it means that the card applicant may be short of funds.

Don’t worry too much if you know that you belong to the group with bad credit reports. After all, you know the reasons for your bad credit report. Applicants with poor credit who want to apply for a credit card can do this:

Step one: Pay off the balance immediately. Check the amount owed on your credit card. If the amount owed is large and you cannot repay the entire amount at the moment, you can apply for installment repayment to reduce the pressure of repayment.

Step 2: Continue to use the card. Does it mean that as long as you pay off your credit card debt, everything will be fine? Not really! The bank will inquire about the applicant's repayment status in the last 24 months. Therefore, after paying off the balance, you still need to use the credit card. Overwrite the previous bad repayment record, so that after 24 months, the bank can check the applicant's relatively good repayment record. If you are afraid of not being able to spend rationally, it is recommended that you only use the card for a dozen yuan at a time, and then repay it immediately, 3-4 times a month.

When applying for a credit card, do you need to check your credit report?

Many people want to go to the bank to apply for a credit card, but some netizens have taken out online loans on the Internet before, but are unable to repay the loans, causing the online loans to be overdue. At this time, their credit reports will be online. Loan overdue record. When applying for a credit card, will the bank check your credit report?

Be sure to check your credit report

If you want to apply for a credit card, your credit report must be very good and have no bad information records, so that the bank will handle it for you. Credit card, so the bank will definitely check the credit report. Applying for a credit card at a bank is the same as applying for a loan at a bank. No matter how many times you apply, you will need to check your credit report when you apply for a credit card again. This is the bank's regulations and procedures and must be carried out. When applying for a credit card, you need to check the applicant's credit report. This is something bank staff will definitely do.

Many people don't know that there is a record of overdue online loans in their credit report, so they rush to the bank to apply for a credit card. Instead, they add a record of rejection of credit card application to their credit report, making the credit report even worse.

Conditions for applying for a credit card at the bank

If you want to apply for a credit card at the bank, you must meet the following conditions, so that the bank will approve your application and issue you a credit card. First, you must be over 18 years old and have a stable income. Second, you must provide corresponding asset certificates and credit reports. Third, it is best to apply for a credit card at the place of residence. Applying in other places requires a residence permit, which is also troublesome. All information must be filled in according to the truth. If you fill in false information and the bank finds out, you will be permanently rejected by the bank and will never be able to apply for a credit card at the bank.

Summary

So personal credit report is very important. If there are some bad records in your credit report, then you will not be able to apply for a credit card at the bank. Because the bank will check your credit report and find that you have multiple overdue records, it will not approve your application.

Does anyone check your credit report when applying for a credit card?

1. Do you check your credit report when you apply for a credit card?

They do, and banks do need to check your credit report. The situation determines whether to grant a loan, as well as the loan amount. If the credit status is good, the loan amount will be high, and if the credit status is poor, the loan amount will be relatively low.

And it should be noted that if you have applied for credit cards from multiple banks in the past 2 years, there will be an inquiry record for each application. The bank will refer to the approval status of the previous bank to decide whether to approve it for you. card, and the approved credit limit. If you hold too many cards, the total credit limit will be too much, and it will be easily rejected.

2. What should I look for in a credit report when applying for a credit card?

1. Number of inquiries

This is a very important point. Whether it is a card application or a loan, as long as it is listed in the credit report, it will be left on the credit report. Querying records is called a hard query.

If you apply frequently in a short period of time, resulting in too many inquiries, it will directly affect the credit card approval rate. The reason is simply that the bank thinks you are short of money. Otherwise, why would you apply for credit cards and loans frequently?

2. Debt ratio

The debt ratio is used to determine the current financial status of the applicant. The credit card and loan information will be recorded in the loan information on the credit report.

For example, the credit card information will display the number of credit cards, monthly repayment amount, total credit limit of credit cards, and available limit. For example, if you have 5 credit cards in your hand, each one is empty, especially There are also large purchases, indicating that the applicant has extremely high debt; the number of lending institutions and loan amounts will be recorded in the loan information, which will also increase the debt ratio.

Once the debt ratio exceeds 50% of the applicant’s monthly income, it is basically difficult to get a card approved.

3. Number of credit cards

Nowadays, when applying for a bank card, some banks have strict requirements on the number of credit cards. For example, China Construction Bank, it is said that it has 5 bank credit cards in hand. You can no longer apply for it; in addition, some people like to apply for multiple credit cards at the same bank, which may not approve the cards. For example, China Everbright Bank will not approve cards if they have more than 5 credit cards.

In addition, there are other details, such as whether it is overdue, etc. Everyone should be clear about these, so I won’t go into details here.

That’s it for the introduction of credit card checking.