The difference between credit and non-credit loans

Definition: Credit record means that the central bank requires banks and some financial institutions to upload users' financial activity records to the central bank's credit database, so users have corresponding credit records.

From the perspective of financial institutions, the central bank has no choice but to upload credit records when required.

From the user's point of view, you can choose the financial channel of credit investigation, or you can not choose it. The credit investigation record itself has advantages and disadvantages. For those with good credit records, we would rather take the channel of credit investigation, because good credit investigation is helpful for future financial services. For those with bad credit records, we prefer to take the channel without records, because there will be no credit record for the time being.

From the long-term development in the future, more and more financial institutions will be included in the scope of credit reporting, so it is not very important to take credit reporting channels for loans. It is important to keep a good repayment record, which is the basis of ensuring good credit information.