When applying for a loan, the three major points in the credit report and the three major sub-items
Edit: Shenka XiaofeixiaSource: Rong 360 finishingDate: 2019-01-02
In most cases, banks, Internet finance companies, or other financial institutions will check your personal credit report as long as they are applying for a loan, whether it is a mortgage, a car loan, or a consumer loan.
The information in the personal credit report determines whether your loan will be approved. Many people are refused to get a loan.
So, do you know what information is a plus item that will allow you to pass the loan approval? What information is the sub-item that directly caused your loan to be rejected?
First of all, there are three major factors that will give our loan approval points:
1 has a mortgage record
Mortgage is the most expensive loan among the vast majority of people, and the bank’s approval of mortgages is very strict. Therefore, applicants with mortgages usually have better personal credit performance and have a higher chance of repaying on time after lending.
Suning Financial's statistics show that applicants who have at least one mortgage have a probability of overdue for more than one month in the future, which is half of the overdue probability of no mortgage applicant.
Therefore, in the process of loan approval, financial institutions will prefer to issue loans to applicants with a mortgage record.
2 people have a long credit history or rich credit types
The personal credit history we refer to here mainly refers to the length of use of credit cards and various loans.
In general, the longer the account opening time of the first credit card or the first loan is, the better the applicant will perform in the future. Consumer loan applicants with a short credit history are often considered to be in urgent need of money in the short term and have a certain risk of fraud.
The rich credit type or long credit history often means that the applicant has been recognized by many financial institutions, and the credit level is significantly higher than that of applicants with short credit history.
Taking a credit card as an example, an applicant who has experienced less than two years of credit card use has a probability of overdue for more than one month in the future, which is 1.5 times the overdue probability of the applicant who has experienced the use of a long-term credit card.
3 higher education level
The PBOC’s credit report not only records the credit history, but also records some basic personal information, such as education. After analysis, it is found that the overdue rate of applicants with college degree or above is significantly lower than that of applicants with lower academic qualifications.
After reading the bonus points, let's take a look at the three major sub-items that will adversely affect the loan application:
1 compensation record
Compensation is a record of the most serious breach of contract because the individual has no repayment ability and the guarantor or insurance company replaces the record of repayment. Most applicants with a compensation record will be directly denied the loan.
2 overdue records
If you have only forgotten the repayments once or twice, and quickly pay off after the collection of the relevant agencies, then basically will not affect the subsequent loan approval.
However, there have been many overdue cases, especially if there are “three consecutive six” (three consecutive months in two years or six overdue repayments). When applying for a loan, the probability will be rejected.
3 multiple credit inquiry records
Every time you apply for a loan or credit card, the bank or relevant financial institution will check your credit report and report to the People's Bank that the reason is “loan approval” or “credit card approval”, and this inquiry will also be recorded. Into the report.
Regardless of whether the loan or credit card is successfully applied or used after approval, the inquiry record will not disappear.
Usually, applicants who have multiple interrogation records in the short term are in urgent need of money. If they are granted loans, the risk of bad debts will be higher in the future.
These above only reflect part of the information in the credit report. In the actual loan approval process, the financial institution will combine the results of a series of rules and risk control models to determine whether to lend to the applicant.
We want to improve the pass rate of loan applications, we must maintain a good personal credit record, be sure to avoid the generation of compensation and bad debts, and minimize the number of overdue.
At the same time, when you apply for a loan, you should consider it adequately. Do not impulsively apply for loans in a number of institutions in a row, so as not to leave a stain on your credit report.
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