Under normal circumstances, it will not happen. If it is overdue for one day, it will be marked as 1. If the payment is made in time, the repayment record for the next month will be marked as normal repayment: N. If you repay your debt promptly, if it is overdue for one or two days, the number of repayments is rare and generally financial institutions will tolerate it. Being often 1 day overdue is equivalent to being "blacklisted"! Under normal circumstances, if you have six consecutive late payments within two years, you will not be able to obtain a loan.

90 days overdue, commonly known as "blacklist"

Credit report: If you are overdue for 90 consecutive days, it will be marked as 3 in the credit report, and you will be listed by all financial institutions. Being considered "blacklisted" means that it will be rejected by almost all credit institutions. Bank attitude: Generally, bank loans, credit cards, etc. that are overdue for more than 90 days will be regarded as malicious overdue, and legal measures will be taken for more than 120 days.

Only after three or six in a row will the person enter the personal credit system.

The so-called "three in a row and six in a row" means that citizens have been overdue in repayment for "three consecutive months, six times in total." If you meet this standard, you will be considered a "problem customer" by the bank. Among them, "three in a row and six in a row" is mainly for personal loans, and overdue credit cards are generally not included. "Three in a row" is more serious than "six in a row". If he fails to repay the loan for three consecutive months, he can basically be judged to be in "malicious" debt. Banks will generally be particularly cautious about such customers when approving loans. For borrowers with "three consecutive" problems, banks may take measures such as denying loans, reducing loan ratios, and raising loan interest rates, depending on the time and amount of arrears.

Consequences of overdue loans

1. Penalty interest and an additional 50% interest rate

Although the policies of each lending institution are different, in general Generally speaking, banks will be easier to talk to than small loan companies. If a credit loan is overdue, the lending institution will first call to collect the loan to remind the borrower to repay. At the same time, the interest rate will rise as a daily penalty interest.

The intensity of penalty interest varies from loan institution to loan institution. For example, Citibank will charge an additional 50% interest on the original interest rate. Some small loan companies may charge even more liquidated damages. This means that if you borrowed an estimated 10,000 yuan, but if you don’t repay it for more than 3 months, you may end up having to pay tens of thousands in interest and late fees.

2. A bad credit record will affect future loans and credit card applications

Every time you are overdue, your name will appear in the bank's internal system the next day. Then the bank manager and risk control will see it. After the due date, bad records will inevitably be left on your credit report. Once left, the record may be retained for 3 to 7 years. If you want to borrow money from other banks in the future, you may not be able to apply easily due to bad credit.