While they are almost all associated with credit systems, there is no single model for how each financial institution's products are creditworthy. Generally speaking, there are several:credit after use, late credit, and credit after application. For example, Jingdong Jinbiao gives you a credit but you don't use it, it won't be shown in the credit report, but after you use it, it will be shown in the credit report; however, Alipay's account won't be known as credit when you use it normally, but it will be reflected in the credit report if it is overdue. If you want to apply to use the China Merchants Bank E Recruitment Loan, the number of inquiries will also be reflected in the credit report.
As long as you use the loan product wisely, even with a credit check, it won't have a big impact on your economic behavior. For this point of view, Rong Zhixiang is still here to correct, because as long as it is on credit, then your next economic activity will be affected. Your number of inquiries, current loan amount, and repayment amount will be used as the basis for your next loan financing assessment. Consider whether a financial institution can assume that you are applying for more than one loan at a time, and whether it is more risky to lend you money if you have more queries. This is why we always tell our clients to minimize inquiries and maintain a reasonable debt ratio when granting loans. Another example is that many clients who need a mortgage to buy a home often do their best to increase their down payment, including through various financing products. However, banks explicitly state that consumer loan funds cannot be used for real estate, so they often require customers to confirm credit products on a credit check before they can lend money.
Because there is no credit check, and of course it is not recorded on the credit check report, for some customers this amounts to hiding their debt and loans. However, we still need to be clear that not checking credit does not mean not assessing one's credit, as there are many ways to assess credit and not all of them need to be based on a credit check. Among them, Alipay is the best, because Alipay has established a comprehensive credit system, Credit Sesame. In addition, some mortgage products do not like to check credit, because there are assets to pledge so the risk is relatively small.