Everyone actually has two ID cards, one is a resident ID card and the other is an "economic ID card". Economic ID card Some people may question, why haven’t they heard of “economic ID card”? Don’t be surprised, this is actually a credit report. Maybe you don't need it on a daily

Everyone actually has two ID cards , one is resident ID card , and the other is an "economic ID card".

Economic ID card

Some people may question, why haven’t they heard of “economic ID card”? Don’t be surprised, this is actually a credit report. Maybe you don't need it on a daily basis, but once you do, it will involve major life events such as housing loans and business loans. Regardless of the bank's face, it has the final say.

Each bank’s product, whether it is business loan, housing loan or credit, has its own evaluation criteria. In other words, whether to lend or not depends entirely on the bank's preference. But among the evaluation criteria of all banks, there is a relatively unified rule - credit reporting. When a loan is not approved, the following situations may occur:

1. Overdue query

Before applying for a loan, no matter how short of money or anxious you are, you must first take the time to check whether you are overdue. Overdue status is the biggest problem in all loans. The premise, at least, cannot be exceeded.

You should pay attention to whether there are any bad records on the credit report. If so, it is recommended to improve the credit report again and ensure that the credit report is clean within at least three months.

2. Number of inquiries

If there is no problem with your credit report, the bank may not lend you a loan, because the bank also needs to see the number of inquiries you have made about your credit report.

Inquiries are divided into hard inquiries and personal inquiries: Hard inquiries refer to back-checks conducted by banks, financial institutions, etc. when applying for loans, credit cards, and guarantees.

Generally, the number of queries should not exceed 10 times within a year. Personal inquiries, which are personal risk assessments, should generally not exceed 10 times in a year.

If the frequency of "hard inquiries" on the credit report is high, and the user has no record of successfully lending or placing a credit card, it means that the person's financial status is not good, and 90% of banks and financial institutions will reject the loan.

3. Debt ratio

Another criterion for whether a bank will lend money is the debt ratio.

The debt ratio includes credit card liabilities and liabilities from various lending institutions. Sometimes the bank will determine your debt ratio based on your employment, annual salary, etc. in your credit report.

However, each bank has different criteria for judging the debt ratio. A more unified voice in the industry is that it should not exceed 70%.

4. Exceeding the total credit limit

Exceeding the total credit limit, this is a variant consideration of the debt ratio.

Even if you meet the above conditions, when applying for a loan, the bank will still look at your total credit limit, including your credit card credit and various loan credits.

Although you may not have used the credit limit given to you, the bank will set a total credit limit for you based on your job, annual salary, etc. in your credit report. If it exceeds the limit, the bank will naturally reject it, so the bank will not care. The credit lines that have been granted should be used or not.

5. Number of online loans

Most banks have a rigid requirement that if you use the Internet more than three times within six months, you will be directly denied a loan.

Of course, this is not talking about all banks, but it is for credit products . If you apply for a mortgage loan, there will not be such tight requirements.

6. Forged materials

The authenticity of the information. Some false information may be found out in the bank's preliminary review process. It is difficult to lend money if the information is fake and shoddy.

7. Loan sequence

Bank loans are sequential. Generally, the mortgage business loan is applied for first, and then the credit is applied for. The standards for looking at debt ratios for operating loans and credit are almost the same. In the case of lack of money, if you apply for too much credit, it will affect the approval of the mortgage loan, resulting in the loss of a large amount of money.

8. Guide

Be sure to find a reliable loan specialist. There are some details that banks will not tell you in detail. Just like in a foreign country, you need a guide who is familiar with the road to lead the way quickly.

The above are the points that most banks look at for most loan products in the review. However, some items of specific loan products may not be looked at. In some cases, even if you don’t meet the requirements, you will be disbursed! The above are just general situations.

hopes to join hands with more peers and friends to help individuals and enterprises develop and make financing no longer difficult.

Currently, Left Atrium has launched loan services in 30 cities including Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou, and channels in more cities are continuing to expand!