Is it okay to have too many online loan records in your personal credit report? Are there any bad effects?

It has nothing to do with the personal credit record and the amount of online loans. As long as you repay on time every month, it will only have a good impact, which means that your credit record is good. As long as it is not overdue, it will not affect your personal credit. influential.

However, once it is overdue, it will lead to a bad credit record, which will affect the approval of subsequent home loans and car loans. The consequences are as follows:

1. Overdue:

With overdue repayment, high penalty interest and liquidated damages will occur. Taking Qufenqin as an example, if the borrower repays overdue, liquidated damages will be calculated based on 1% (daily interest) of the total outstanding price. If the borrower defaults on repayment for 10 days in total, 30% of the total outstanding price will be charged as liquidated damages.

2. Collection:

Although different online loan platforms have different collection methods. But if a large number of online loans are overdue, then unfortunately various collection methods will bombard you and make you doubt your life. As the poster said, even if you mute your phone, it is still difficult to avoid collection calls. And if these online loan platforms cooperate with outsourced collection companies, it will be even more terrifying. Your family, relatives, friends, and even teachers will all be harassed.

3. Leading to bad credit reporting:

Although many online loan platforms claim that they do not check credit reporting or do not look at credit reporting, there is no guarantee that some small loan companies will not cooperate with the central bank. A linkage mechanism has been established for credit reporting, and once it is overdue, it will be reported to the central bank's credit reporting system. Moreover, many online loan platforms will still check personal credit reports before lending, and will only lend money to those with no serious overdue credit records. ?

And in addition to the central bank’s credit reporting system, third-party credit reporting is also very influential. Like Sesame Credit and Kaola Credit, if the credit is overdue for more than 3 months, not only will penalty interest be charged, but also collection procedures will be entered. More importantly, your credit score will immediately return to its original state, and you will no longer be able to apply again or obtain other privileges.