Although the bad records of the old version of the credit report are also kept for 5 years, only the repayment records of the past 2 years will be displayed, while the new version of the credit report is different, and the repayment records are extended to 5 years. In other words, the new version of the credit report can find the monthly repayment records of the last five years. Even if the card is cancelled and the account is not activated, all information will be displayed.
However, this does not mean that bad credit records will be eliminated within five years, and some people may keep them for longer. This is because the retention of five years is calculated from the date of termination of bad behavior or events, that is to say, bad credit is eliminated after five years of termination. For example, overdue credit cards will not be eliminated within five years. Only when you pay off the debt, five years later, will it be officially eliminated.
In a word, the official launch of the new version of credit information will definitely expand the influence of bad records, and it will be more difficult to handle credit card and loan business in the future. After all, banks have to look at the five-year card use records when approving loans and handling cards. If you have any bad card use behavior in these five years, it may lead to business rejection.