The premise of eliminating overdue credit records after 5 years is to pay off all overdue debts and penalty interest. According to Article 16 of the State Council's Regulations on the Management of Credit Information Industry, the retention period of personal bad information by credit information agencies is five years from the date of termination of bad behavior or incident, and it will be deleted after more than five years.
How can we avoid bad credit reporting?
1. Pay attention to develop good consumption habits and repayment habits. For daily consumption, loans and various payments, pay attention to the repayment period, avoid overdue, be sincere-oriented, abide by credit, and establish a good credit awareness.
2. Properly arrange relevant credit activities and make relevant early warning tips. Choose an appropriate repayment method and take effective reminding measures to ensure that each loan and credit card is repaid on time.
What behaviors will leave a bad credit record?
(1) The credit card fails to repay on time and fails to repay the minimum amount, resulting in overdue fines and interest.
(2) After loans overdue, the overdue interest has not been repaid in time, but the principal has also been repaid, and the credit information system will also show that the overdue interest has not been settled.
(3) The loan account is the same as the credit card account, because the credit card consumes first and then repays, resulting in a bad credit record due to insufficient repayment balance.
(4) The number of times and the amount of consumption of a credit card are specified within one year. If not, they will be charged an annual fee. If the repayment is not made in time, the late payment fee will cause a bad credit record.
Therefore, we must develop a correct view of money and try not to spend in advance. In this case, it is easy to lead to difficulties in subsequent repayment, leading to problems in our own credit information. In terms of subsequent bank loans, banks will first refuse people with credit problems.