Why does my mother-in-law need to see the PBOC’s credit report?

Why should the mother-in-law look at the PBOC credit report of the future son-in-law? The reason is that the mother-in-law hopes to be able to understand the future son-in-law’s economic situation and personality status as comprehensively as possible. The People’s Bank of China credit report is produced by the People’s Bank of China, which has a national background, by collecting credit information from various financial credit institutions. The data is highly accurate and reliable. It is a credible consumer product. The main contents of the personal credit report (personal inquiry version) include personal information, credit records, public records, etc. The detailed information is shown in the following table.

The car loan and home loan information in the credit report reflect the economic strength of consumers; the debt and repayment information system reflect the financial health of the consumer; the credit card and consumer loans reflect the economic stability; the public record and bad record information Reflect the consumer’s social responsibility. Good character and economic status are important guarantees for marriage. The credit report just reflects the above two aspects of the consumer information from many aspects. It can be said that the credit report record is a concrete manifestation of the integrity of the consumer’s character in the market transaction rules and transaction order. In addition, the personal credit report of the People’s Bank of China is endorsed by the People’s Bank of China, which is credible, so the mother-in-law should use the credit report of the People’s Bank of China to check the future son-in-law.

The US Utilizes Credit Score Dating Sites

In a survey of 1,000 adults by FreeCreditScore.com in the US, 20% of men and 30% of women aged 21-34 said they would not marry an NPC with a poor credit score The majority of respondents also said that money management skills are just as important as appearance when deciding whether someone is worth pursuing. 57% of men say credit scores influence their dating decisions, and 75% of women say they consider credit scores. Created in 2006, CreditScoreDating.com allows members looking for a formal date to join for free to find the right partner. Its founder, Niem Green, created the online dating site CreditScoreDating.com based on the realization that credit scores can measure how well an individual fulfills their commitments and values ​​​​honor. Generally speaking, in the marriage and love market, women look at whether men have economic strength, and men look at whether women have the financial ability, and these can be reflected through credit information. When the site first launched in 2006, most of the members were in their 40s and, according to Green, their relationships often ended due to financial problems. After the financial crisis, the site saw a surge in membership, and the average age of members fell. When creating dating profiles, Creditscoredating.com asks users to disclose their position on a range of credit scores. In the drop-down menu, you can choose (the lower the score, the higher the credit risk): – 801-850 – 751-800 – 701-750 – 651-700 – 601-650 – 600 or less The site doesn’t check the accuracy of the scores, citing founder Niem Green’s belief that the questions can help determine whether people are being honest. Green has designed an algorithm that uses website credit scores and other collected consumer personal data to match suitable website users with each other, which the website says is 92 percent accurate. The site also has some humorous rules about credit score blind dates (FICO credit score ranges from 300-850): 800-850: potential marriage partner (Marriage potential) 750-800: can go to meet parents (take him/her home ) to Mom) 700-750: Not a perfect object (a fixer-upper); 650-700: You can make a date 600-650: You can follow below 500: Hurry up, because you can’t even get a car loan (RUN because they won’t even get a car loan, probably). The credit score dating site currently has 500,000 members, including 70,000 daily active users. Mr. Green declined to discuss his company’s revenue, which consists largely of advertising fees that users have to pay and fees for uploading photos or matching messages. Some Americans attribute the success of the credit-score-based blind date site to the constant reporting from media outlets that have sparked an interest. Indeed, mainstream American media, from the New York Times to the Breitbart News Network, have reported and investigated the site.

Fed study on credit score blind date

Economists at the Federal Reserve tracked the credit scores and marital status of 12 million consumers over 15 years using desensitized consumer credit panel data from Equifax, the world’s second-largest consumer credit bureau. Published research in 2015: Credit scoring has become a prominent feature of individuals, extending beyond the household financial sector, and access to credit varies widely at the individual level and largely extends to the household level. Not only do people with higher credit scores stay in relationships longer, but the closer the credit score is to that of their partner, the more likely it is for both men and women to be a better fit. In strong marital partnerships, personal credit scores are highly correlated with those of their partners. The correlation coefficient between men and women who become married is about 0.6, implying that there is a significant positive match in credit scores when the relationship is formed. Men and women who had a large gap in their credit scores at the start of their relationship were more likely to separate later. Experian, the world’s largest credit reporting agency, has also done some statistical analysis on single men and women in different cities. As shown in Table 2, only 6 cities are higher than the average credit score of 695 in the United States at that time, and the credit score of unmarried men in most cities is low. on the national average.

Marriage and Love Credit Application in China in the Future

Statistics show that in the first half of 2018, 5.58 million couples were newly married, while 1.85 million were divorced. While the divorce rate continues to increase, the number of singles in China is also on the rise, creating a huge demand for marriage and love services. With the rapid development of the Internet industry, the habit of users using the Internet to make friends is also becoming more and more mature. There are hundreds of dating apps out there. In the face of the fiercely competitive marriage and love market, many marriage and love apps are also undergoing a further round of innovation based on big data technology. For example, they plan to conduct multi-dimensional data collection on members’ behavioral trajectories, hobbies, mate selection conditions, and psychological needs in the future. , for accurate algorithm recommendation and matching. The marriage and love market needs related information services such as credit reporting, such as marriage and love integrity certification, which has become the basic work of marriage and love manufacturers. The Baihe.com client has newly introduced Alibaba Cloud real-person authentication technology; Zhenai.com has once again upgraded the integrity protection of users’ personal information by connecting with Xuexin.com and launching the academic qualification authentication function. To sum up, it is reasonable and reliable for the mother-in-law to read the personal use report of the central bank. It not only has a theoretical basis but also related credit reporting products in practice have also been used by American commercial marriage and love agencies. Credit reporting products and services, as long as the application boundaries are clear, individuals agree to authorize, do not infringe on personal privacy, and have reasonable uses, can be applied to a wider range of consumption scenarios in the future. play a greater role. Both credit reports and credit scores are important personal credit reporting products. Among them, credit reports are the initial and core products of credit reporting agencies. In the 1980s, credit scoring became a value-added product for credit reporting agencies. In recent years, as the trend of the digital economy has become more and more obvious, the demand for credit scoring has begun to surpass credit reporting and become a global trend. The network measurement in the figure below shows that since 2015, the demand for credit scoring by network users has surpassed that of credit reporting. . Currently, the credit score of the central bank’s credit system is not open to the public.

By Cary Grant

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