Currently, the elimination of bad personal credit records is divided into two types: 2 years and 5 years.

1. The so-called 2-year elimination is aimed at non-malicious, small-amount, short-term overdue bad records. In this case, no record will be left. It only needs to be used continuously for 24 months after the overdue credit card has been used. Previous bad records can be eliminated.

2. It is a clear requirement to eliminate bad credit records within five years. It refers to malicious overdrafts with large amounts during the use of credit cards and other types of credit. After paying off all outstanding debts, the bad credit record can be eliminated after 5 years.

1. How often does a personal credit report need to be cleared?

1. Personal credit report is cleared every 5 years. The information sources of the credit reporting system are mainly financial institutions such as commercial banks. The information collected includes basic information of enterprises and individuals, credit information such as loans and guarantees from financial institutions, and major financial indicators of enterprises. If there is an overdue payment, it will take five years after all outstanding debts are paid off before all bad records can be eliminated.

2. But there are also some bad personal credit records that can be eliminated quickly. For example, if you forget to pay annual fees, late fees, service fees, etc., or you are overdue due to unemployment, serious illness, going abroad, etc., you can pay off the money and then negotiate with the bank. If the debt is not malicious, please ask the bank to coordinate and eliminate the bad overdue records.

3. Some lending institutions only check the borrower's credit record in the past two years before lending. Therefore, as long as the loan is paid off, the borrower can "renew a new life" after two years, and it will not affect This type of loan.

2. How often is the personal credit report updated?

1. Personal credit reports will be updated every month, depending on two factors: (1) the time when commercial banks report data;

(2) the People’s Bank of China Update time after data is received.

2. Article 6 of the "Interim Measures for the Management of Basic Personal Credit Information Database" stipulates that commercial banks should submit personal credit information to the personal credit information database in a timely manner. Therefore, the commercial banking system will report the collected personal credit information to the central bank's credit reporting system every month. If there are special circumstances, it will be reported once every two months.

3. Generally, banks report personal credit information at an interval of no more than two months, and the central bank will record 24 months of credit card repayment information in the credit information system. If there is an overdue repayment The record will be directly reflected in the personal credit system.